Altcoins: As the crypto market enters the end of the second quarter of 2022, the devastating impact of May is being compensated. Since last week, the crypto market has regained most of the $138 billion it lost. This post features analyst Aaryamann Shrivastava’s list of the top 9 altcoin projects to follow in the month.
- 1 Top 9 altcoin projects to watch in June 2022
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Top 9 altcoin projects to watch in June 2022
Vasil hard fork is expected to be released by the end of June. That’s why investors are excited that this upgrade could be a turning point for ADA. A similar spike was observed last year when the Alonzo hard fork was released. Now investors are watching ADA’s price movements closely as the market rebounds. ADA recently posted a 37.44% gain, which pushed the price to $0.61. Meanwhile, $1 has approached critical support.
Terra’s UST and LUNC tokens (now Terra Classic) were the cause of one of the biggest crashes in crypto history this month, Terraform Labs is now trying to rise from the ashes with a new token. Last week, a new token and Blockchain was launched. Despite the price instability of stablecoin UST and the explosion of LUNC supply, Terra as a Blockchain is still a recognized project in the DeFi market. The new LUNA, or LUNA 2.0, is trading at $6.58 at the time of writing.
Apecoin (APE) has failed to display high price movements since its launch. The reason behind this is that the broader market decline coupled with the May 9 crash has stopped its growth. The timing was unfortunate as the altcoin fell by 75.88%. However, thanks to the support of the Bored Ape Yacht Club brand, the future of APE can be looked upon with hope. According to the analyst, with the support of BAYC, one of the largest NFT projects, APE will be in a better position than it is now.
Dogecoin has received a slew of positive news despite its recent bearish momentum. AmkNews.com As we reported, Elon Musk announced that after Tesla, SpaceX can also accept payments with Dogecoin. While Dogecoin has blockchain and little to offer as a cryptocurrency, its flexibility definitely makes it a valuable investment tool.
Axie Infinity (AXS)
One of the biggest gaming cryptos in the crypto market, Axies Infinity has always maintained its position as a profitable investment. AXS took a big hit in January after Axie Infinity’s Ronin bridge was hacked for $625 million, and Terra crashed once again in its collapse. Backed by the launch of Axie Infinity Origins in May, AXS recorded the highest single-day rally in more than six months at 35.22%. As the GameFi protocol continues to expand, so can AXS, thanks to its utility and value.
Until a few days ago, Flow was a little-known altcoin project. However, in the last week of May, the value of Blokchain and the FLOW token skyrocketed as a prominent Instagram artist announced the NFT project on Flow. As a result, FLOW surpassed ApeCoin to become the largest NFT token with a market cap of $2.74 billion.
However, that’s not what makes FLOW an opportunity not to be missed. Created by Dapper Labs, creators of CryptoKitties, Blockchain is supported by some major market players, including:
While the entire DeFi space is relatively quiet at the moment due to the market downturn, Uniswap still managed to maintain an average of $10 billion in trading volume each week.
As the market recovers, the DeFi market will continue to evolve, according to the analyst. At the same time, decentralized exchanges (DEXs) will also be in high demand. Naturally, UNI will observe high traction and eventually place it on a rally path, and given its recent 17.27% increase, it may already be on that path.
Known as the pioneer of the metaverse, Decentraland is a leader not only for the crypto niche, but also for the metaverse. It is definitely a cryptocurrency to look out for this month, as it has also become a preferred destination for mainstream industry players using MANA as a marketing tool.
The last altcoin project on the list, Sandbox, is also a rising project in the crypto space as a metaverse platform. Although the sandbox has been in a downtrend since December, the ATH level, it is still a definite investment option considering it has surpassed its peers recently. Plus, recently the platform has become the new home of Elvis Presley, the King of Rock and Roll, whose NFTs will debut as avatars on the Metaverse.
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