The editorial staff of Be[In]Crypto has picked out seven promising altcoins for you that could see significant progress in June.
Here is our list of the top seven altcoins for the month of June.
- Current price: $0.039
- Market cap: $376 million
- Market Cap Ranking: #102
IoTeX is a fast, secure and scalable blockchain. Its objective is to create and develop an open ecosystem where users and machines interact freely with each other, all within a framework of trust. Moreover, IoTex uses a blockchain compatible with the Ethereum virtual machine (EVM), which also helps in the scaling of decentralized applications (dApps), especially with the resolution of the problem of high gas fees.
Version 1.8 of the new main network was launched on May 30. This offers several new features, including:
- Staking on MetaMask
- Improved robustness of P2P transactions.
- An improved application programming interface (API).
Since early April, IOTX had been trading below a descending resistance line. This bearish move took the asset to a low of $0.021 on May 12. Since then, IOTX has been gradually recovering and breaking above its descending resistance line on May 23rd.
If the bullish momentum continues, the main resistance area would be found between the 0.5 – 0.618 Fib retracement resistance levels at $0.068 – $0.079.
- Current price: $204.5
- Market cap: $3.71 billion
- Market Cap Ranking: #26
Monero is a secure and confidential blockchain that aims to provide complete privacy to its users. It does this by masking sender and recipient addresses using advanced cryptographic technology.
Residual emissions (tail emissions) of Monero will begin on June 9 after the resolution of block #2,641,623. This means that from this date the reward amount will be 0.6 XMR per block.
Since May 12, XMR had been moving within an ascending parallel channel before dropping on May 27. Despite this drop, the asset regained its strength and is currently trying to recover the support line of the channel.
Since the support line coincides with the $200 horizontal resistance zone, it is likely to provide strong resistance. A move above this level would likely cause the price to rise rapidly.
- Current price: $0.65
- Market cap: $21.9 billion
- Market Cap Ranking: #6
Cardano is a blockchain that provides security and sustainability for decentralized applications (dApps). This network, based on proof of stake, was created in 2017 by Charles Hoskinson. The “Alonzo” hard fork, carried out in 2021, added smart contracts functionality to the platform.
For his part, the Hardfork Vasil will launch on June 29. This fork, which focuses on improving connectivity and network stability, is the second biggest update after Alonzo. According to the founder of the project, it will allow many Cardano dApps to benefit from pipelining.
After reaching an all-time high in September 2021, the price of the ADA crypto gradually fell within a descending parallel channel. The bearish move ended on May 12, when the token bounced off the midline of the channel.
The daily RSI has generated a bullish divergence (green line). Additionally, it recently broke above a descending trendline.
If a breakout occurs, the price of ADA could reach $1.25.
- Current price: $2.31
- Market cap: $1.17 million
- Ranking by market cap: #212
DefiChain is a blockchain platform that aims to maximize the potential of decentralized finance (DeFi) within the Bitcoin (BTC) ecosystem. For this, it connects to the BTC ecosystem through what is called a Merkle root. The platform offers solutions to security, scalability and decentralization issues. Its nodes are spread across the four corners of the world, including the United States, Europe, India, Canada, and Singapore.
The new block reward system was launched May 30, when Block #1,928,200 was resolved. This system offers better rewards on several equity tokens, including those from Microstrategy and Gamestop.
On May 21, DFI broke below an ascending support line it has held on to for 305 days. If it does not recover this support, the trend cannot be considered bullish.
- Current price: $82.31
- Market cap: $1.81 billion
- Market Cap Ranking: #38
Elrond is a blockchain protocol that offers extremely high transaction rates thanks to its sharding mechanism. This mechanism brings about a 1000x improvement in scalability over its previous blockchain iterations. Additionally, the platform can handle 15,000 transactions per second at low fees. As a reminder, its main network was launched in July 2020.
The platform’s native token is called EGLD. It is used for staking, rewards from validators and payment of network fees.
Several major projects are planned for the second trimester of 2022, including Elrond Superwave, Elrond Gamify and phase 4 staking.
Since March 28, EGLD has been falling within a descending resistance line. On May 27, this bearish move sent the asset down to a low of $65.68.
If a break above the resistance occurs, the nearest resistance would be near $122. According to the analysis of the last fall, this is the 0.382 Fib retracement resistance level.
Mina Protocol (MINA)
- Current price: $0.97
- Market cap: $513 million
- Market Cap Ranking: #88
Mina is a blockchain that promises to run dApps more efficiently. Despite its growing adoption, its size is designed to remain constant. Therefore, it is considered a “succinct blockchain”. This network which was called “Coda Protocol” was renamed “Mina” in October 2020.
The protocol uses a new mechanism called zero-knowledge succinct proofs (zk-SNARKs). In concrete terms, this system allows him to verify information without disclosing it.
the zkApps Builders program will be launched in the second quarter of 2022. This is an innovative project whose main objectives are:
- Remove barriers that prevent developers from working on Mina.
- Attract new developers to Mina.
- Improve the developer experience through feedback and faster iteration.
Between May 11 and May 28, MINA created a pattern of double hollow close to $0.80 (green dots). Although this is considered a bullish pattern, it has yet to result in a sustained upside.
- Current price: $8.77
- Market cap: $1.84 million
- Ranking by market cap: #2806
Terra is a public blockchain spun off from the Terra Classic network, which hosted the UST stablecoin. After the loss of parity of the UST with the dollar and the subsequent crash of LUNA, an airdrop of LUNA 2.0 was launched on May 28th.
The new Terra launched on May 31 on Binance.
LUNA started at $4.12 on KuCoin and is currently trading at $8.30.
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Be[In]Crypto presents its Top 7 best altcoins for the month of June – BeinCrypto
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