The cryptocurrency industry has had a rough year in 2022. Since their highs in November 2021, most cryptocurrencies have lost 50% of their value. However, the market has bottomed out and several cryptocurrencies offer a compelling opportunity to invest. Buying a commodity that has temporarily fallen in value before continuing its upward trajectory is always a smart move. Accordingly, we have compiled a list of the top 5 cryptocurrencies to BUY in June 2022. Thanks later 😉
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#5 Chainlink (LINK)
Chainlink is a blockchain framework that enables the integration of universally connected smart contracts. It is also a decentralized network of nodes that use oracles to feed data from off-chain sources to on-chain smart contracts. The network went live in 2019 and allows blockchains to securely connect to events and other data streams. Stock quotes, sports scores, and other data feeds are examples of this type of data.
Today, LINK prices are heavily discounted and have reached a current price of $7. If the crypto market rebounds higher, the LINK price can easily hit its next target of $14, earning a 100% return.
- Current price: $7.1
- Current market cap: $3.3 billion
- Market capitalization ranking: #27
#4 Binance Coin (BNB)
Binance is one of those crypto projects that needs no introduction. Most crypto traders use Binance to trade and store their cryptocurrencies. It is one of the largest centralized exchanges with a wide variety of cryptocurrencies to choose from. The company is always on the move and adding new features while ensuring its operations are intact.
Their BNB token has indeed fallen with the crypto market and is currently heavily discounted to around $300. When the crypto market rallies, BNB prices can easily reach the previous price of $600, which is another 100% return. Before achieving this, the prices must break the prices of $363 and $445.
- Current price: $300
- Current market cap: $49 billion
- Market capitalization ranking: #5
#3 Avalanche (AVAX)
Avalanche is a blockchain technology focused on scalability, security, and decentralization. It went live in September 2020. Three major problems in the bitcoin industry have been solved by its speed, flexibility, cost, and accessibility. Any decentralized application (DApp) compatible with smart contracts that uses Avalanche can outperform its competitors. In terms of functionality, Avalanche is comparable to Ethereum. It uses a Proof of Stake (PoS) consensus mechanism, which is similar to that used by Ethereum.
AVAX price crashed in the last crypto crash, losing over 80% year-to-date. However, its prices were forming a support zone around $21. From this price, and with a proper bounce alongside the crypto market, AVAX can at least reach a price of $30, earning a decent return of 50%.
- Current price: $24.1
- Current market cap: $6.5 billion
- Market capitalization ranking: #15
#2 Ripple (XRP)
Many people are still waiting for XRP to bounce back from the tough SEC lawsuit. The latter destroyed XRP prices, making it one of the cryptocurrencies that could never reach its previous all-time high. Ripple is a project that allows users to send, receive, hold and move currencies across borders quickly and reliably. Our current system, which relies on banks and payment gateways, is slow, fragmented and expensive. The Ripple company can settle transactions in 3-5 seconds from anywhere in the world. It is actually much faster than Bitcoin and Ethereum!
XRP prices fell below $0.50 on May 10, 2022. The whole crypto market crashed, but the current price of XRP is very risky. Thanks to a strong consolidation around $0.40, prices managed to hold. If the market manages to recover quickly, XRP should hit $0.70 again, an area that has been strong support.
- Current price: $0.39
- Current market cap: $18.8 billion
- Market capitalization ranking: #seven
#1 Gimbal (ADA)
The final cryptocurrency on our list of the top 5 altcoins to buy in June 2022 is Cardano’s ADA token. Cardano is a delegated Proof of Stake (dPoS) blockchain, which supports smart contracts similar to Ethereum. The commercialization of this project propagates a scientific approach. Development under Charles Hoskinson is rather slow, with several deadlines already pushed back. On the other hand, the Basho update should arrive soon, around the third quarter of 2022. This update is highly anticipated by investors and should have a positive impact on the valuation of the Cardano project.
The ADA token saw a surge in price after falling sharply, hitting a low of $0.44. However, prices have managed to rally and should head towards $0.80 if the crypto market recovers soon.
- Current price: $0.56
- Current market cap: $18.9 billion
- Market capitalization ranking: #6
As you may have already concluded, most cryptocurrencies in the market are currently in a downtrend. It all depends on Bitcoin’s upcoming sentiment and trend reversal. On the other hand, it also depends on the general stock market, as cryptocurrencies correlate with them. Once global buying power returns to the crypto market, most cryptocurrencies will be on the rise again, and especially the ones mentioned in this article. That’s why it’s always good to keep an eye on what’s happening in the market.
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