Here’s a list of 10 cryptocurrencies to watch out for
Cryptocurrencies are always in the news. Be it for the market dips or controversial headlines, no one wants to miss out on crypto investments, especially after knowing the kind of profits one can make. This weekend, spend some time and keep an eye on the crypto market. While there are more than 1,000 cryptocurrencies in the market, these 10 cryptocurrencies mentioned have the best growth potential this month.
Promising Cryptocurrencies in June
1. Bitcoin (BTC)
Yes, it is the largest cryptocurrency by market cap and price, but the reason Bitcoin is being mentioned here is because of its recent price drop. As a result of the recent crypto market crash and Elon Musk dumping Bitcoin as a payment method for Tesla, investors who want to invest in Bitcoins can now buy more of it. At the moment, Bitcoin is trading at about half of its highest value which was US$60,000. With the debate about cryptocurrency’s environmental impact going on, it’s tough to say if Bitcoin will reach the US$60,000 mark again, but investors still have high hopes.
2. Ethereum (ETH)
You would think that the second-largest cryptocurrency in the market will be getting all the spotlight it deserves, but the case with Ethereum is quite the opposite. Ethereum doesn’t share the same popularity as Bitcoin, even though ETH has seen some strong gains. It’s the first and a highly reliable network for smart contracts and decentralized applications. In fact, many other cryptocurrencies use the Ethereum blockchain. As the chatter about DeFi applications is booting the crypto market, the Etherum network is where most of them are built on. These reasons make Ethereum a smart choice for crypto investments.
3. Uniswap (UNI)
Touted as the future of finance, Uniswap is a decentralized exchange built on Ethereum’s blockchain technology. Uniswap was launched in 2018 and since then, it has become one of the largest DeFi coins and exchanges. In 2020 alone, about US$58 billion worth of trading happened on the platform.
4. Bitcoin Cash (BCH)
By 2022, Bitcoin Cash is going to roll out some new updates which might increase its value. The primary update is going to be the introduction of Scalenet, which will supposedly have the capability to have larger blocks that can increase the transaction speed. Another update is the introduction of ‘double-spend-proofs’, which will improve the security of the Bitcoin Cash network.
If anything can give Etherum’s smart contracts technology tough competition, it is EOS. Apparently, EOS has the capability to do everything that Etherum can do but in a much faster and easier way. 2020 was a favorable year for EOS and the positive trend is likely to continue in June 2021 too.
6. Tezos (XTZ)
In February this year, Tezos’s value went down by 30%, which opens many investment opportunities. Tezos had one of the largest ICOs ever, US$232 million in Bitcoin and Ethereum. Tezos values a strong and decentralized decision-making process, which makes it a strong crypto contender. Its network is flexible enough to adapt to any changes and alter its features according to what is working and what is not. Investors realized this cryptocurrency’s potential and Tezos reached its all-time high of US$7.67.
7. Stellar (XLM)
Stellar aims to enable cross-border transfers by using tokens. It also provides a decentralized exchange where several assets can be traded. Stellar also created a service for micropayments that can be used to tip people online. But the exciting news that makes Stellar a hot steal is Ukraine’s plan to use Stellar’s blockchain technology to create a digital currency for its central bank.
8. Chainlink (LINK)
Chainlink is on a growth streak since 2020. Chainlink offers what other cryptocurrencies don’t, oracles. Oracles communicate off-chain information to blockchain and can also be used in smart contracts. According to crypto experts, this cryptocurrency…