4 Potential Cryptos Next Week: Litecoin, Gnosis, SSV, Binance Coin (BNB)

The crypto market is moving in a consolidation again after some negative news from the American economy pushed the prices of the majority of cryptos down. However, in this condition there is potential for profit because currently the crypto market is calm, and after a correction there will generally be a price appreciation.

Approaching August or the new month, generally crypto will also move up in the short term which makes some crypto potential to be eyed. Here are four potentially profitable cryptos ahead of August.

Litecoin (LTC)

First is Litecoin which is one of the oldest blockchains in the crypto world after Bitcoin and has almost the same function. Like Bitcoin, Litecoin itself also has a halving cycle, which is a reduction in the number of coins circulating on the market.

Generally this halving will make a coin even rarer which can encourage interest and thus make the price go up. On August 5, 2023, Litecoin will experience a halving which is one of the news that investors have been waiting for.

Gnosis (GNO)

The second is Gnosis which is a DAO or Decentralized Autonomous Organization that has a focus on helping build crypto infrastructure for all existing projects and wants to be part of the Gnosis DAO, especially those engaged in the Ethereum ecosystem.

Now, there is an upcoming update that will most likely improve the usability of Gnosis so that it can be used by more crypto projects on the market. The news is the Shapella Hard Fork which will occur on August 1, 2023.

With this update, Gnosis will move to the Shapella Hard Fork which is an update made by Ethereum to make its network easier to use by projects from other networks and make the network more efficient.

Later, with the entry of Gnosis to the Shapella Hard Fork, the DAO will be able to nurture even more projects so that it can increase its token transaction volume due to increased interest.

SSV Network (SVV)

The third is SSV Network which is an application to make staking easier on the Ethereum network. Currently the positive news circulating is the launch of the main network or mainnet which will occur on August 1, 2023.

This Mainnet Call is an event that will discuss the mainnet status of SSV so that there will be some information provided to SSV investors regarding current network conditions and future plans to increase interest in the network.

This news is very likely to be a positive sentiment, especially if there is good news that can increase interest in SSV. From a technical point of view, currently SSV is trying to climb back into its appreciation zone after previously leaving.

Binance Coin (BNB)

Finally, BNB currently seems to be starting to move positively because it is likely to get out of its negative sentiment following the determination of the results of the SEC's lawsuit against XRP stating that XRP is not a security.

The CEO of Binance, CZ, seems to be taking advantage of this momentum to save Binance and defends that what Binance sells are not securities, but crypto that is legal to trade because it is not considered a security.

With this statement, it is very likely that Binance will get out of its lawsuit with the American government agency, namely the CTFC, which currently considers Binance to have committed several illegal actions.