- After the crash of May 9, most of the cryptocurrencies fell to their lowest in months.
- Since last week, the crypto market has regained its lost $138 billion.
- Top cryptos for the month of June include Terra 2.0, ApeCoin, Dogecoin, and more.
The cryptocurrency market, over the course of the last five months, has witnessed a lot of fluctuations and shifts in trends, but the one thing that did not change was the broader market bearishness.
However, the worst of it came to form only this May when the crypto market crashed twice within the same month.
Today all the cryptocurrencies in the market amount to $1.28 trillion after a 12% recovery three days ago, which brought $137.3 billion back into the market.
And even though one may not have found the best opportunity to make profits this month, the month of June certainly presents an opportunity to make gains with these cryptocurrencies that show promise going forward.
Starting off with the king coin, Bitcoin, regardless of the market conditions, is always a good choice since it will find room for growth with minimal fluctuations.
Since BTC holds a 43% domination in the crypto space, a broader market rally will trigger a rise for BTC as well, and those who enter the market at $30k will certainly gain profits by the end of quarter 2.
Trading at $31,583, BTC is set to rise further after the 11.27% rally noted this week.
With the Vasil hard fork set to arrive by the end of June, Cardano, at the moment, is one of the biggest coins to look forward to as investors expect this to be the turning point for the cryptocurrency.
A similar bullishness was also noted last year when the Alonzo hard fork was set to activate, and hopefully, this time around, investors can actually recover their losses.
ADA recently noted a 37.44% rise which brought the price up to $0.61, inching it closer to the critical support of $1.
3. Terra 2.0
Although Terra’s UST and LUNC (now Terra Classic) was the cause of one of the biggest crash in the history of crypto this month, Terraform Labs is giving it another shot.
Last week they launched a new blockchain with a new set of tokens still named LUNA to retrace their steps back to their peak.
Despite the depegging and subsequent LUNC supply overflow, Terra as a blockchain holds a lot of potential in the DeFi space, and that will be LUNA 2.0’s boon going forward as it trades at $7.19 today.
Although it has been well over two months since its launch, ApeCoin hasn’t exhibited skyrocketing feats.
The reason behind this is the unfortunate timing as the broader market bearishness combined with the crash of May 9 halted its growth, and the altcoin came crashing down by 75.88%
But that doesn’t take away from the fact that APE is one of the most profitable projects in the crypto space, thanks to it being the token of the Bored Ape Yacht Club NFT collection.
The biggest NFT project will only grow further when the BAYC NFT-based feature film is released, and consequently, APE will skyrocket.
The meme coin lives! It is a surprise that DOGE continues to be one of the topmost cryptocurrencies globally and that it has endured the recent crashes.
While Dogecoin does not have much to offer as a blockchain and cryptocurrency, its resilience definitely makes it a worthy investment vehicle.
Besides, the meme coin will always have the backing of the “DOGEfather” Elon Musk, who recently made it a viable payment option for its SpaceX merchandise.
6. Axie Infinity Shards
One of the biggest Gaming tokens in the crypto space, AXS has always held its position as a profitable crypto investment.
Although the token took a hit in January after Axie Infinity’s Ronin bridge was hacked for $625 million, and once again during the recent crash, AXS has bounced back quickly.
Supported with the launch of Axie Infinity Origins in May, AXS noted the highest single-day rally in more than six months of 35.22%.
As the GameFi protocol continues to expand, AXS will also continue to grow thanks to its utility and value.
If this is a name you haven’t heard before, you’re not alone. Up until a few days ago, Flow wasn’t a big deal, but in the last week of May, the blockchain and token shot up in value owing to the announcement of a prominent Instagram artist’s NFT project on the Flow blockchain.
Consequently, FLOW became the biggest NFT token with a market cap of $2.74 billion, surpassing ApeCoin.
However, this is not what makes FLOW an unmissable opportunity. The blockchain created by Dapper Labs, creators of CryptoKitties, is backed by some major industry players, including Coinbase, Google Ventures, Samsung, Reddit, and Zynga, among others.
This makes the token a highly valuable asset that is poised to witness growth going forward.
Uniswap does not warrant an introduction as it is the biggest Decentralized Exchange (DEX) in the world.
Although the entire DeFi space is relatively quiet right now owing to the bearishness in the market, Uniswap still managed to maintain an average transaction volume of $10 billion every week.
As the market recovers, so will the DeFi space, and DEX’s will be in high demand. Naturally, UNI will observe high traction, eventually placing it on the path to a rally, which it might already be on given its recent 17.27% increase.
Known to be the pioneer of Metaverse, the Decentraland is definitely a cryptocurrency to look out for this month as Metaverse is becoming a place of choice for not just the crypto niche but also for mainstream industry players who are using it as a means of marketing.
Thus Decentraland is set to observe high demand, which will automatically trigger a rise for MANA.
As it is, the token was the first and the quickest cryptocurrency to recover from the crash of May 9, when it rose by 92.69% in 48 hours.
10. The Sandbox
Last but certainly not least, The Sandbox is also a rising star in the crypto space, being a Metaverse platform.
The Sandbox, although it has been on a downtrend since its all-time high of December, still is a sure-shot investment option, given it recently surpassed the likes of AAVE and Axie Infinity by market cap.
Plus, recently, the platform became the new home of the King of Rock and Roll, Elvis Presley, whose NFTs will be launched as avatars in the Metaverse.
— The Sandbox (@TheSandboxGame) May 25, 2022
As the market comes closer to the end of the second quarter, it will be interesting to see which other altcoins rise the ranks to become the next big investment option.