As days go by, Bitcoin and other cryptocurrencies are becoming a more prominent option for investments. More than three decades later, the financial world's wild west has a new "Dogefather," the eccentric Elon Musk, who is leading the charge to influence a digital currency that is impossible to ignore or refuse. He is not the only one, as cryptocurrencies have piqued the interest of both millennials and older folks. During the pandemic, trading volume has increased as a broader pool of investors acquired access to crypto markets via a variety of channels. And it is not just Bitcoin that should be credited for this. Interestingly, the rise of altcoins this Altseason has pushed the global crypto market cap to $2 trillion.
Every other cryptocurrency other than Bitcoin is referred to as Altcoins. Generally, you may call them a more modified version of Bitcoin. Such high dominance of Altcoins, which brought down the Bitcoin market dominance to a great extent. It was more than 70% at the beginning of the year, and now it is down to just 42%. If history repeats itself, Altcoins could be in for a series of a massive rally to new all-time highs. Coins like Dogecoin, Binance Coin, Ethereum, and Chainlink have shown significant growth over the past few months. Their market cap has skyrocketed.
Therefore, if you want to invest in the crypto space now, then Altcoins will be a better choice given that we go by the charts and metrics. Altcoins have won the attention of major institutional investors like Grayscale, MicroStrategy, etc. So you don’t want to miss out on action here. Moreover, Bitcoin is digital gold, and you would more likely want to hold it after investing. If you want to gain profits through transactions, then Altcoins should be your choice. And given the volatility of Bitcoin prices, you may wish to keep an eye on other Altcoins, that are comparatively less volatile. If you are new to the crypto space or probably wondering which are the best Altcoins for June 2021, then this article is for you.
The excitement surrounding cryptocurrencies is not going away anytime soon. The amount of success Altcoins are witnessing says that it is here to stay. Apple, Google, Tesla, Samsung, Facebook, PayPal, and Deutsche Bank are just a handful of well-known corporations that have recently included cryptocurrencies into their long-term strategic goals.
Many small crypto investors were taken aback by the May crash – a panicky sell-off spurred first by Elon Musk tweeting that Tesla will no longer accept BTC as payments, and then by a new crypto crackdown in China. Analysts, on the other hand, forecast the downfall for quite some time. It was most likely a well-planned and orchestrated incident. Whales and institutional purchasers control the market, with the ability to influence prices to maximize their profits. And it is only a matter of time that prices of Altcoins start to reach new milestones. The market performs like this. Also, because of the recent sell-off in digital currencies, cheaper altcoins may appear to be appealing assets due to their prospective upside.
However, it is not a given that every cheap coin would provide you with a profit. Numerous factors influence the price of a digital currency, which is why its potential fluctuates from time to time. This list seeks to reveal you to the top 10 Altcoins for June this year, which have had substantial growth in the past and will remain popular, particularly for their pricing graphs or R&D.
Note: Altcoins are not given in any particular order, and the price and market cap of all the tokens are as per the research for the article.
Chainlink is one of the most mainstream cryptocurrencies today. A huge open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others drives the Chainlink Network. Today, the price of the token stands at $28.76 and has a global market cap of $12 billion. The coin has shown significant growth this year. It started the year with a price of only $11, and that has crossed the mark of $52 in May. Multiple reasons led to the price hike, and Grayscale’s announcement that Chainlink will replace XRP in Grayscale Digital Large Cap Fund is one of them.
Moreover, JulSwap is upgrading its oracle mechanism to the industry-leading Chainlink Price Feeds to give the best protection for user funds against further flash loan-based price manipulation attempts. Chainlink Price Feeds have proved to be impervious to flash loan manipulation over time, preserving user cash in well-known DeFi projects such as AAVE, Synthetix, and Venus. Apart from this, More than 3,500 people have registered for the Spring 2021 Chainlink Virtual Hackathon. The three-week event provides a fantastic chance for Chainlink ecosystem developers to connect and collaborate across DeFi, NFTs, and gaming using Chainlink's oracle network and leading web3 technologies.
After negotiating a time of strain in the crypto complex, Chainlink price clarifies price structure. The price compression caused by the V-shaped recovery from the low on May 23 has been gradually released in the form of a cup-and-handle base. If the market as a whole cooperates, LINK might see a 37% rise from the recent high. Hence, now is the time to invest in the token, as the graph is soon going to get green.
The token is currently trading at the price of $24.64 and holds a market cap of $23 billion. The growth this token has witnessed in the first quarter of 2021 is spectacular. Its price was just $8 in January and went on to become more than $48 in May. So with growth like that, one does not want to miss this token this month. Investments have made their way towards the DOT token. This led to the market cap of the token to boom. Master Ventures, an Asia-based Blockchain incubator, and private venture capital firm announced the other day the launch of the Master Ventures Polkadot VC Fund, a $30 million venture capital fund. Traders used the announcement as an opportunity to raise their DOT bids.
According to an announcement made last Wednesday, the Master Ventures Polkadot VC Fund is the first of its type to invest in the most promising enterprises on Polkadot and its canary network Kusama. Master Ventures CEO Kyle Chasse said:
"We believe Polkadot will be one of the clear long-term winning blockchains and ecosystems due to its cross-chain functionality, ease of development and deployment as well as the strength of its development community."
In the last week of May, it was discovered that Polkadot and Cardano had received $10 million in coin inflows the week before. Cryptocurrency investment products reported net withdrawals of roughly $97 million, and despite the total losses, institutional inflows into these two assets have increased significantly. This only talks about the faith and trust it has won. Therefore, look out for this token in June.
XRP had a tough time with all the SEC lawsuits, pushing down the token prices. However, things are finally starting to look favorable for XRP over the past few months. The price of the token is $0.96, up from $0.22 since the beginning of the year. It holds a global market cap of $44 billion. Earlier this year, it also regained its position as the 4th largest cryptocurrency in the market and its price surges $1. Early April, after surpassing $0.74, the price of XRP cryptocurrency has reached its greatest weekly levels in three years. In just 24 hours, the token's price has risen 17 percent, while its trading volume has increased 43.54% to $8.8 billion.
Ripple finally having good points that can help win the SEC case, which is the primary reason why the price is going high. As previously reported, Ripple CEO Brad Garlinghouse stated that the blockchain business would "prevail" in the agency's lawsuit. The following is an excerpt from his most recent interview with CNN's Julia Chatterley:
“....But, you know, we could do that. I’m looking forward to the facts coming out in the court case. You know this is something that I haven’t commented on publicly because the wheels of justice kind of move slowly. We must get the facts out. We heard one side of the story from the SEC.”
Furthermore, the price of XRP increased by 5% after Ripple announced the purchase of a 40% interest in Tranglo. Ripple filed a motion in a New York court on May 3rd demanding the judge to contact Bitfinex, OKEx, and other exchanges for information pertinent to the action which might be useful to dismiss SEC claims. Therefore, with so much happening, this token is worth having your attention in June.
Cardano has had one of the largest price increases of any major cryptocurrency so far in 2021. The cryptocurrency, which is currently valued at $1.71, is more than ten times more valuable than it was on January 1 and is among the top five cryptocurrencies by a market valuation that stands at $54 billion. One of the main reasons behind this being, Cardano will soon include "smart contract" capabilities. It entails adding code that allows automated, self-executing contracts to be created. Cardano is already set up to manage significantly higher transaction volumes. It has been tested at up to 257 transactions per second, but Cardano developer Input-Output is looking at considerably higher numbers — maybe 1 million or more per second.
Predictions for the token have been positive in all directions. Michael van de Poppe, a crypto expert, believes Cardano has the potential to achieve a new all-time high of $5. He points out that, despite the crypto market fall, ADA is still performing better than Bitcoin and many other Altcoins. Moreover, Cardano saw the greatest institutional inflows of $10 million, according to a study published last month by Coinshares Digital Asset Fund Flows.
Crypto analyst and influencer Ben Armstrong is all bullish for ADA and said:
And all these add up to make ADA one of the most potential Altcoins this June.
The token is currently trading at $37.87 with a market cap of $10 billion. The price of the token has shown significant growth this year. Its price reached $55 in May. The token did not fail to put up its best performance even during the market crash earlier in April. Last week, the token has risen by 42.4%, reaching a new all-time high of $48.48. Solana has increased by 2,800% this year alone, although the project is just a year old. The SOL blockchain network is responsible for the SOL blockchain, which is a high-speed and low-cost blockchain.
SOL intends to compete with Ethereum in the future. Because of the Ethereum blockchain's high costs and delayed transactions, industry participants and watchers are looking for alternatives like Solana. Ethereum transactions on the SOL network, which are known for being cheaper and faster, costs $10 on average and take minutes as of press time.
With blockchain fund ROK Capital, the Solana Foundation has announced a $20 million fund to assist the ecosystem's spread in South Korea. FactBlock, a blockchain consulting firm, and DeSpread, a Korean accelerator, are also investors in the fund. Solana received $60 million in funding from Hacken, Gate.io, and others just weeks ago to assist initiatives in Brazil, Russia, India, and Ukraine. ROK Capital General Partner Brian Kang said:
“Solana is one of the fastest-growing networks in the industry, and in addition to injecting capital, this new fund will provide tailored services for projects to successfully accelerate in Korea.”
Apart from this, Chorus One, a crypto infrastructure provider, proposes creating a liquid staking currency that will result in staking incentives and staking positions on the Solana blockchain with Lido validators. With over $600 million in tokens, Chorus One is presently the largest SOL staker. And on the Solana blockchain and the Metaplex protocol, the Metaplex Foundation is establishing a non-fungible tokens (NFT) marketplace for creative artists.
Ethereum is the largest altcoin and best alternative to Bitcoin. The coin is trading at $2774.43 and has a market cap of $322 billion. Ethereum is the best blockchain platform today, with most of the Dapps building on it. The price even crossed the $4000 mark in May this year. Moreover, the price only came down during the recent market-wide correction. One of the main reasons why investors incline towards the token is because of the Ethereum 2.0 update.
Ethereum 2.0 is an upgrade to the Ethereum blockchain that already exists. Its goal is to improve the Ethereum network's speed, efficiency, and scalability, allowing it to alleviate bottlenecks and boost transaction volume. In other news, launching on-orbit Ethereum multi-signature transaction services, SpaceChain has integrated Ethereum (ETH) technology into space. Zee Zheng, SpaceChain co-founder, and CEO, said:
“With Ethereum’s smart contract platform running in outer space, it enables us to fortify blockchain applications and transactions with enhanced security and immutability.”
Another plus is that DeFi protocols have a total value locked (TVL) of $48 billion. Although, the sector has taken a hit with the recent Ether price fall. Positive expectations could stem from the much-anticipated transition to a proof-of-stake consensus paradigm. The EIP-1559 proposal, which is due next month, is another key stepping stone, with some traders setting price goals of $4,000 to $10,000. Therefore, as the crypto is recovering from the market crash, June will be an important month.
With its trading price at $414.16, BNB is one of the most happening coins this year. Investments have increased so much over this token that its market cap increased from $5 billion at the beginning of the year to $63 billion now. In the last week of April, Binance Coin increased by more than 10%, reclaiming the world's third-largest cryptocurrency market value of $95 billion. Binance Coin has increased by over 1500 percent since the beginning of the year, according to previously released data.
If this bull run begins again after the market crash last month, Ethereum may lose its position as the world's second-largest cryptocurrency behind Bitcoin to Binance Coin. This might seem possible as Binance currency has been steadily increasing its daily gains over the last week, and it appears to be on track for a fifth consecutive day of gains. These actions come as the exchange continues to draw attention by introducing new goods, launching new discounts, and launching initiatives to expand its presence in unregulated marketplaces.
Binance Smart Chain (BSC), a blockchain akin to Ethereum, serves as a decentralized alternative marketplace for issuing, using, and exchanging digital assets. PancakeSwap, a BSC-based decentralized exchange, surpassed Uniswap, an Ethereum-based exchange, in terms of daily trade volume on February 19. Hence, with promising projects like these, BNB can only expect to run high.
Litecoin is currently trading at $182.66 with a market cap of $12 billion. The coin is showing some significant gains, making it one of the most potential Altcoins. Institutional investors have also put their faith in the token. Grayscale has made an investment of 1468 Litecoin in the first week of March, according to the most recent statistics. The crypto asset manager purchased a total of 37,928 LTC. After Bitcoin and Ethereum, Litecoin is Grayscale's third-largest holding.
Apart from investments, Ebang International, a Bitcoin mining hardware manufacturer, approved a resolution on Feb. 25 to start a Litecoin mining operation. After receiving the most votes in a recent survey of over 10,000 consumers, Cloudbet casino has added Dogecoin and Litecoin to its platform. The survey was conducted by the casino to determine which additional cryptocurrencies should be included. Customers can now keep and use these coins to wager on the result of a variety of sporting events. This speaks about the popularity LTC has received over the past few months. And that is why June will have more for LTC.
Cosmos is currently trading at $16.33, with a market cap of $3 billion. The growth of the token has been significant and the prime reason for that is the upcoming projects. Cosmos’ network manages more than $100 billion in digital assets and now is releasing Gravity. Its goal is to bring the DeFi market over to the Cosmos Hub. Moreover, Cosmos-based PoS blockchain uses less energy per year than Bitcoin and Ethereum do in a single day, according to recent estimations by Cosmos.
Cosmos' IBC went live on March 29, allowing token transactions between Cosmos and other IBC-compatible blockchains. This is one-of-a-kind crypto that should not be ignored. Cosmos is one of the most cost-effective cryptocurrencies on the market, with a lot of room for growth. Cosmos reached an all-time high of roughly $32 on May 7. However, its value plummeted to $16 due to the market crisis. Give your attention to this as it can give you a valuable return on investment in the coming months.
Terra is currently trading at $6.88, with a market cap of $2 billion. It was launched in 2019, and within just 2 years the token has shown commendable growth. Terra especially showed promising returns after the recent crash. This is why all the price predictions of this token are bullish.
They forecast that by the end of 2022, the price of Luna will have risen to $40. The price of LUNA has increased by a staggering 25-fold this year. It is exceeding the already spectacular seven-fold increase in MakerDAO's maker tokens. In less than five months, LUNA's market valuation has risen from $300 million to almost $6 billion, before the crash hit.
Terra's two current key use cases, Mirror protocol - which allows users to construct tokens that reflect the price of real-world assets like stocks, and Anchor protocol - a loan and saving platform, are both seen as valuable by cryptocurrency analysts. Apart from this, Alice, a cryptocurrency app, has acquired $2 million in startup funding to make Terra blockchain decentralized financing (DeFi) “accessible” to people in the U.S. Therefore, now is the right time to invest in this token.
The market was hit by a major correction last month. But the prices are slowly regaining their momentum again. And these coins have the most potential to grow. June is likely to be a month of total opposite price activity. If you want to purchase these or any other cryptocurrencies this month, make sure you do so through a reputable cryptocurrency exchange. You can locate low-cost exchanges with great levels of security. As the past few months have demonstrated, cryptocurrencies are risky investments. Moreover, as these are new and somewhat untested markets, there's a chance you'll lose everything or make a hefty profit. As a result, do your homework before investing your money.