July in the crypto market is characterized by the growth of certain assets, notably Tron and Bitcoin Cash, alongside a new interest in BlockDAG's Buyer Battle strategy.
Tron (TRX) Price Surge
The price of Tron (TRX) continues to rise, trading between $0.2841 and $0.2886, reflecting a 3.05% increase for the week. Support is particularly strong due to over 13 billion transactions in the network to date, with daily transaction counts averaging over 8 million. Much of these transactions involve stablecoin transfers in regions with limited banking access.
Technically, Tron remains stable with its price above all major moving averages, and the RSI is at 63, indicating buyer interest without being overbought. If the price breaks the resistance level around $0.30, a short-term target of $0.31 may be next. Forecasts for 2025 vary from $0.226 to $0.62, reflecting both optimism and caution in the market.
Bitcoin Cash (BCH) Technical Outlook
The technical outlook for Bitcoin Cash (BCH) is attracting investor interest as the token saw a 75% rise over the past 90 days, touching a peak of $526.5 before stabilizing around $483. The situation on the market shifted on July 4 when whale activity surged, with transactions over $100,000 totaling $482 million. This increase in large-value transactions has traders watching closely, with open interest in BCH derivatives rising by 27% over the week.
However, despite positive signals like the appearance of a golden cross on the hourly chart, network usage remains low with active addresses at a six-year low. Nevertheless, the technical outlook for Bitcoin Cash remains positive, with strong support near $481 and short-term resistance at $489.
BlockDAG's Buyer Battle Strategy
BlockDAG's Buyer Battles provide a new twist to traditional crypto presales. Each day, 50 million BDAG coins are set aside for buyers, and the wallet that purchases the most BDAG during that period is granted the leftover coins as a bonus. This creates an incentive not only for high spending but also for clever timing. For example, one participant managed to acquire 1 million BDAG at just the right moment and ended up winning a significant additional amount.
Each BDAG is priced at a fixed rate of $0.0016 until August 11, providing buyers with predictability. So far, $333.5 million has been raised, and over 23.7 billion coins sold. As the final stage of the presale approaches, many participants are leveraging these Buyer Battles for sustainable growth of their assets.
The combined recognition of Tron’s growth, Bitcoin Cash's stability, and BlockDAG's innovative Buyer Battle strategy highlight the dynamic nature of the crypto market in July 2023. The period beginning August 11 is expected to draw keen market attention to these assets.
