OVERVIEW

Three Stupidly Undervalued Altcoins

The Fed kept interest rates unchanged, focusing on dual risks (inflation and employment). Stocks went crazy, but crypto retreated, modestly. Powell both hinted at future cuts and also said they’re not looking at future cuts. sigh 🙄 

In today’s Litepaper, three altcoins that have been around for a few years, have active socials, active teams, and existing adoption. But their technical conditions are the suck.

Also on deck: Bitcoin’s historical performance in August and California’s DMV integrating vehicle titles using AVAX’s blockchain. 📰

Before we dive in, here’s today’s crypto market heatmap:

And here’s a look at crypto’s total and altcoin market cap YTD:

NEWS
3 Stupidly Undervalued Altcoins 🪙 

Algorand: The Quiet Overachiever

$ALGO’s price action may be in the dumpster - but its fundamentals remain strong. 💪 

• On January 1, 2024, Algorand hit an all-time high (ATH) of 43 million transactions in a single day without a hitch.

• On May 17, 2024, it achieved a record of 5,716 transactions per second (TPS), putting it among the top 3 blockchains by max recorded TPS.

• In Q1 2024, Algorand processed 403 million transactions, a 288% increase from Q4 2023.

• The first quarter saw Algorand gain 1 million new accounts, bringing the total to 35 million, with an average of 800k monthly active users. [1]

Equally important: their official social media, news, and blogs are active. Not sitting dormant for months on end.

Also, Algorand hodlers have the most diamond of diamond effing hands and balls of steel. 85% of ALGO hodlers are out-of-the-money, and the same percentage has been holding for over a year. 🤯 

Zcash: Only Private If You Want It To Be

Few altcoins can claim to have such a miserable history and price action as $ZEC. However, throughout its history, it remains active and developed. There are no fair-weather fans here. 🌊 

• Active social media presence.

• Their news/blog is updated and current.

Zcash is like $BTC, but how Bitcoin should have been. It's a privacy coin that allows you to add data to transactions for regulatory compliance or keep it completely private. It's the perfect intermediary between Bitcoin's transparency and Monero's ($XMR) full-on privacy.

When privacy makes a comeback in crypto, Zcash will likely be a go-to for balancing compliance and privacy.

From a price action perspective, Zcash sucks - but the most recent activity shows some promise.

The week of July 8 was the best week ZEC has seen in 3.5 years. And if you’re wondering when Zcash last hit an all-time high - that was December 2017. 📆 

Stellar XLM: The Tokenization Titan

Like Zcash and Algorand, Stellar is beaten down and miserable looking - but that hasn’t stopped its adherents or its developers. ⤵️ 

• Active social media.

• Active updates and developments.

• Blog/news updated regularly.

The biggest deal with Stellar ($XLM) is its recent partnership with Deutsche Bank-backed Taurus to spearhead Real-World Asset (RWA) tokenization. This means banks and issuers can now create and manage tokenized assets on Stellar with faster transactions and lower fees than many big-name blockchains. 🚀

Oh, and the estimated estimated total value of current tokenized RWAs is only $1.7 billion, with $360 million of that on Stellar alone. 😱

NEWS
Bitcoin’s Historical Performance In August 📆 

Here are some facts about how $BTC has performed in the month of August. 🌻 

• Positive Months: 5

• Negative Months: 8

• Average Gain (Positive Months): 24.36%

• Average Loss (Negative Months): -15.37%

• Overall Average Gain/Loss: -0.09%

• Third worst month for average gains.

• Fifth best month for average losses.

• Second to last for average overall performance.

In other words, August usually sucks or is just ‘meh’. But 2024 has been full of surprises, and I wouldn’t be, um, surprised if there are more surprises to surprise us in August. ☀️ 

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Space is going quickly so grab your seat now, and we'll see you in beautiful Coronado, CA! 😎

AVALANCHE
California DMV Goes Digital: 42 Million Car Titles on Avalanche 🚗

California’s Department of Motor Vehicles (DMV) is digitizing 42 million car titles on the Avalanche ($AVAX) network. They want to modernize and streamline the state’s title transfer process. 🚗 

Developed in partnership with software firm Oxhead Alpha, this move will allow users to transfer vehicle titles in minutes instead of the traditional two-week wait.

Revolutionizing Title Transfers

Thanks to blockchain technology, Californians will soon be able to claim, track, and manage their digital titles via the DMV’s new application, all without stepping foot in a DMV office. 🏎️ 

According to an Avalanche blog post, this system leverages blockchain rails to drastically reduce transfer times, bringing a new level of efficiency to a historically tortuous experience and process - at least as described by people in California.

John Wu, president of Ava Labs, highlighted the transformative potential of blockchain, stating, "Blockchains are the most advanced tool any organization can leverage to maximize efficiency, maintain compliance, and protect consumer data—vital components for a government serving its constituents."

This is the first time a U.S. state has placed its vehicle registration system on the blockchain. Ava Labs reports that the titles are already on the blockchain, with the DMV planning to roll out the corresponding app as early as next year.

When Michigan? 🚀

NEWS
Crypto News In Three Sentences 📰

🎙 Crypto YouTuber Creates AI Necklace 

21-year-old Avi Schiffmann, a former crypto YouTuber, launched the $99 AI-powered necklace 'Friend' to combat loneliness. Interestingly, another AI necklace called 'Friend' by Nik Shevchenko launched just a month earlier for $70. Schiffmann used $1.8 million of a $2.5 million fundraiser to buy the domain Friend.com. From Protos.

🚀 Tron’s Upgrades Reshape Digital Economy 

Tron has outperformed the broader altcoin market by 10%, says Cointelegraph, thanks to key innovations like token-agnostic gas payments. The network’s strong USDT demand and deflationary tokenomics have boosted its appeal. Tron is now the second-largest blockchain by stablecoin transfer activity and TVL. Cointelegraph has more.

🔐 Crypto Holders Face Physical Attacks 

Physical attacks on crypto holders are on the rise, with incidents in Russia, Hong Kong, and the US highlighting the need for better security. Victims have been kidnapped, coerced, and forced to transfer their crypto. Experts advise enhanced physical security measures alongside digital protections. More from CryptoSlate.

📈 UK Eyes Doubling Crypto Tax 

Chancellor Rachel Reeves plans to double crypto taxes to address a £20 billion public finance shortfall. Labour's promise not to raise taxes didn't cover capital gains, leaving crypto investors vulnerable. The new tax policy, expected in October, could see rates jump from 20% to 45%. Full story at DailyCoin.

👟 Trump Launches Bitcoin Sneakers 

After speaking at Bitcoin 2024, former President Donald Trump promoted limited edition Bitcoin-themed sneakers. The sneakers can be purchased with Bitcoin or other cryptocurrencies. Trump’s keynote promised to fire SEC chair Gary Gensler and create a strategic BTC reserve if elected. From TheBlock.

Links That Don’t Suck 🔗

🪙 Is Solana centralized and bad tech?

🤔 Launch meme coins via Tweets with MakeNowMeme 

🇨🇳 Tron founder calls on China to reconsider its BTC policies

😲 Ripple’s XRP soars to four-month high amid speculations of possible SEC settlement

📊 CryptoQuant links Bitcoin mining hash rate nearing all-time high levels to potential price stability

🤖 Will A.I. upend white-collar work? Consider the Hollywood editor.

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