Why buy IOTX, SXP, and CVT altcoins in August 2021?

By: Invezz
CBDCs and cryptos will co-exist

On August 10, throughout the span of 24 hours, the biggest gainers ended up being IoTeX IOTX/USD, Swipe SXP/USD, and CyberVein CVT/USD.

IoTeX is a platform focused on decentralizing the internet of things while attempting to be the bridge between FIAT and cryptocurrencies with its API designed to create global payment cards. CyberVein is a solution based on the PISR (private, interlink, secure, robust) secured database and runs on a Proof-of-Contribution (PoC) consensus mechanism.

Should you invest in these altcoins? Let’s find out.

Should you buy IoTeX (IOTX)?

On August 10, IoTeX (IOTX) was worth $0.0312.

As a point of comparison, its all-time high was $0.0828 and it occurred on March 13, 2020. This made its value 165% higher at its all-time high level.

To get a perspective of its more recent performance, we’ll be analyzing July.

On July 3, the token raised its value to $0.0219. Its lowest point of the month was on July 20 with a value of $0.0162. This led to a decrease in value of 26% throughout that month. However, its value on August 10 is still 42% higher than its highest point in July. With its recent increase in trading volume by 330%, its value has the potential of increasing to $0.04056 by the end of August.

Should you buy Swipe (SXP)?

On August 10, Swipe (SXP) was worth $3.

It achieved its all-time high on May 3 with a value of $5.79. This made it 93% higher in value.

Analyzing July should give a heightened perspective on its more recent performance.

On July 7, it got to one of its highest points of $2.16. On July 21, it fell to $1.38, bringing it down to its lowest price point of the month. That is a 36% difference. On August 10, it is still 39% more valuable than its highest point on July 7.

With its recent 83% increase in market cap, we can expect its value to grow to $4.05 by the end of August.

Should you buy CyberVein (SVT)?

On August 10, CyberVein (SVT) was worth $0.0133.

Discussing its all-time high, it was gained on April 9, with a value of $0.3702. This is a 2683% difference in value.

However, to get a clear picture of its more recent price developments, we’ll be looking at July.

On July 8, it raised its value to $0.0147. Later on, it fell to $0.0054 on July 22. That is a 63% difference.

That being said, with its increase in market cap by 53%, we can expect its value to grow to $0.0203 by the end of August.

The post Why buy IOTX, SXP, and CVT altcoins in August 2021? appeared first on Invezz.

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