June marks the beginning of the summer, and according to history, a very slow season for the cryptocurrency market. According to data from Bitcoin Monthly Returns, since 2011, June has yielded the least average monthly return for Bitcoin at 2.7%.
Similarly, other summer months yield lower least average monthly returns than the rest of the year. The summer months should not be confused with Crypto Summer, which is often used to describe bull markets and periods of increased activity in the crypto space.
Although June and the rest of the summer months are marked by low returns, there are historically projects that performed exceptionally. In this article, we will discuss what investors should look out for when investing to be profitable in June 2023 and the top 5 cryptocurrencies that they can buy during the month.
June can be a tricky period to invest in the cryptocurrency market as the industry is often marked by a decline in trading volume, inflow of cash, and liquidity. However, many projects have yielded great profits in the past June and would do so in June 2023.
Below are some key points that profitable cryptocurrencies in previous June posses:
Because the entire cryptocurrency market suffers reduced liquidity, investors should be on the lookout for digital assets with high liquidity to invest in June. Digital assets with high liquidity offer investor stability and safeguards from the impact of price swings that are common in June. The daily trading volume is a good pointer to how liquid the digital asset is.
There are over 25,000 digital assets, but only a fraction serve a practical purpose. The greater the utility of a digital asset, the more likely it is to continue on an upward projection despite the sentiment of the broader crypto market.
Investors are always advised to look for projects with practical utility within the crypto space, and even more when investing in June as it helps projects endure the harsh summer conditions. You can find out how much utility the digital asset is by reading through the website and whitepaper of the project.
The supply metrics or tokenomics of a project is an often overlooked basic market metric but often hints at projects that can be successful or fail. Projects without well-thought-out tokenomics may rally for a brief period and then dump shortly after launch. The circulating supply and vested tokens can give investors an idea about how much the project's team has invested into the future success of the digital asset.
Over the years, several projects have launched during crypto bear markets but managed to be very successful thanks to a great project team. Polkadot (DOT), Uniswap (UNI), Chainlink (LINK), and Near Protocol (NEAR) are examples of projects that succeeded during crypto winters.
Now we know what to look for when investing in June, below are the top five digital assets investors can buy in June 2023:
Tradecurve (TCRV) is one of the few projects that meet the criteria for investing in June. The trading platform draws liquidity from one of the biggest global markets – the OTC derivative market valued at over $632 trillion. This is possible because Tradecurve's platform is the first in the blockchain space to seamlessly connect the OTC derivatives market with cryptocurrencies as it would allow users to trade stocks, options, ETFs, commodities, and crypto from one account. Because the derivatives market isn't hugely affected by June trading like crypto, Tradecurve will be assured of liquidity through the summer.
By seamlessly connecting the derivatives market with crypto, Tradecurve solves the disjointedness in trading and would better help traders manage their portfolios from a single place.
Experts predict this new type of exchange could reshape crypto trading, attracting traders who trade global financial instruments into the decentralized finance (DeFi) space. Tradecurve will also make the platform more comfortable for traders by operating powerful trading terminals, ultra-fast order execution, ultra-low spreads, algorithmic trading, copy trading, and negative balance protection.
When compared to competing trading platforms within the DeFi space and beyond, Tradecurve offers more compelling features. Tradecurve also places emphasis on privacy and security. On the platform, traders would be able to open accounts with only their email addresses and no KYC requirements and trade anonymously from anywhere they are in the world. Lastly, traders will be able to manage their private keys and have full control of their digital assets.
The influx of investors into Tradecurve has helped its native token, TCRV, rally by 20% while most digital assets have been on the decline in June. Also, as a project still in the early launch phase, investors have the chance to benefit from massive gains from Tradecurve.
Currently selling at $0.018 per TCRV token, crypto market experts have predicted that Tradecurve has the potential to trade as high as $1.50 in 2023 and become a top 100 cryptocurrency ranked by market cap.
Introduced in November 2021 as a sequencing layer for instantaneous validation transactions Kaspa (KAS) quickly gained attention in the cryptocurrency space. Kaspa is widely popular as one of the fastest Proof of Work (PoW) blockchains. In comparison, Bitcoin takes around 10 minutes to mine a block, while Kaspa has a block completion time of 1 second and can process up to 400 transactions per second. Kaspa has attracted a lot of attention for its quick transaction speeds, helping to increase the liquidity of the network.
The goal of Kaspa is to evolve into the fastest and purest PoW blockchain. The Kaspa blockchain is able to achieve this speed by using a multi-chain architecture that allows every transaction to be processed on a separate chain. This parallel processing of transactions reduces the congestion on the network, making Kaspa one of the fastest blockchain networks today. Kaspa has been gaining ground since June, finding its way into some of the biggest crypto exchanges along with other exciting developments within its community.
As the Kaspa blockchain found increasing utility, the KAS token rallied to an all-time high in March, when other digital assets experienced price declines. Experts believe if Kasper can rally during a bear market, it can also replicate the same performance in June. InvestorObservers gives Kasper a better long-term technical analysis score than more than 70% of the crypto market. KSP currently trades at $0.02121, but crypto market experts are bullish about the prospects of Kasper, predicting that the token can rally to as high as $0.1 in 2023 and a peak of $1.
KuCoin Token (KCS) KuCoin is the native utility token of the KuCoin cryptocurrency exchange, a platform built with the purpose to facilitate the regulated free flow of digital value. KuCoin has been the best-performing crypto exchange amidst the crackdown on centralized crypto exchanges (CEXs), including Binance and Coinbase. KCS is one of the most bullish digital assets in June, gaining more than 25% when most other digital assets have been trading on a descending trendline.
While the likes of Binance and Coinbase have been under regulatory pressure, the number of crypto traders migrating to KuCoin has been on the rise. Over the last 24 hours, over $300 million worth of transactions have been performed on the exchange. The number of weekly visits to KuCoin is also on the rise and now stands at 1.65 million visitors every week. KuCoin Token (KCS) has benefited from these increasing metrics as it is the sole utility token of the KuCoin exchange and ecosystem.
Holders of KuCoin Token (KCS) are eligible to receive rewards shared from the trading revenue generated by the exchange. KCS holders also receive fee discounts, fast access to customer KuCoin service, and one-on-one investment consultation. The growing popularity of KuCoin has had a positive influence on its KCS token, and experts predict it would continue to rise. Now trading at $7.27, crypto analysts have predicted that the token could trade as high as $10 in June and make a rally for the $18 resistance level before the end of 2023.
The pioneer cryptocurrency, Bitcoin (BTC) opened the year by gaining more than 100% in the first quarter, leading to many cryptocurrency experts tagging 2023 as a bullish year. Although in the second quarter, Bitcoin hasn't managed to replicate the form that it did in Q1, many on-chain metrics still show that 2023 is still a bull year. In addition, the price dips Bitcoin suffered weren't necessarily about Bitcoin and the price of BTC is already recovering, attempting to break above the $27,100 resistance level.
While there is never a bad time to invest in Bitcoin as it steadily remains the number one cryptocurrency, June presents a great opportunity for investors to stack up on BTC. The world's largest asset manager, BlackRock, recently filed an application to the U.S. Securities and Exchange Commission (SEC) to launch a spot Bitcoin ETF, and experts are almost certain that the application would be approved. A spot ETF would make Bitcoin available to institutional investors, and experts predict a massive bull run when this happens.
In addition, regulators are making significant strides toward putting together a framework for the crypto industry, which could lead to further institutional activity in Bitcoin. Another reason to invest in Bitcoin this June is that the influence of digital assets has been steadily growing in the global financial market, with most megacorporations now investing or preparing to invest in Bitcoin.
As the most popular cryptocurrency, the issues of liquidity, utility, and supply metrics aren't concerns for Bitcoin investors. Most importantly, the direction of the entire cryptocurrency market is often dictated by Bitcoin. Early price predictions put Bitcoin rally to the $30,000 resistance in June. In the presence of a clear regulatory framework and a spot ETF, crypto market experts have predicted that Bitcoin could top its all-time high of $68,789 in 2023.
Ethereum (ETH) introduced smart contracts to the blockchain space, making possible the development of decentralized applications (dApps) and non-fungible tokens (NFTs). Ethereum has become an integral part of the entire blockchain ecosystem, thanks to its ever-expanding ecosystem. The development of several ingenious dApps on the Ethereum blockchain has helped Ether become the second-largest cryptocurrency.
The biggest altcoin remains a great buy despite regulatory pressure in June 2023 because the world has been inching closer to the widespread use of Web 3, decentralized finance (DeFi), and blockchain-based industrial automation – all of which have roots that link to Ethereum. As these concepts become more popular in the real world, Ethereum has been predicted to enjoy more utility and serve as a boost for the price of Ether (ETH). This makes Ethereum a great investment option for June and beyond.
The Ether currently trades at $1,745, and many crypto market analysts, like the DeFi Dad, have said that the digital asset is woefully undervalued. With most of the economic activity of the blockchain space built on Ethereum, many market analysts have predicted that a fair price for ETH is around the $10,000 mark – a 570% price increase from its current trading price. Ethereum holds the most utility in the cryptocurrency market and experts believe that the price of ETH could easily trade as high as $20,000 as we enter a full-blown bull cycle.
These are the top five cryptocurrencies investors can buy in June 2023. More than their potential to experience a price rise in June, these digital assets also offer long-term investment opportunities with utilities that make their demand increase as the crypto market grows. Most importantly, investors are advised to do their personal research to understand the dynamics of each project before investing.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.