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Cryptocurrencies have become such a phenomenon, that nothing can stop its growth. Countries around the world are accepting this new form of money and assets and many companies are accepting cryptocurrencies as a mode of payment. For the cryptocurrency market, while May wasn't the best month in terms of market crash and frequent dips, June is showing some promising correction, allowing experienced and new investors to make purchases at low rates. A lot of new cryptocurrencies have gotten the attention they deserve and few made their way to the top cryptocurrency lists too.
It's a known fact that cryptocurrencies will continue to make headlines and grab everyone's attention. Out of the many cryptocurrencies in the market, these are the popular names for the month of June.
Many experts are vouching for Ethereum's ability to surpass Bitcoin in the coming months and that's a big remark. After a dodgy past week, when the value fluctuated between US$2,600 and US$2,251, it is now trading at the US$1,943 mark (at the time of writing). Market analysts are not worried about this dip as Ethereum has shifted to the correction mode. This fall in price is only opening more windows of opportunities for investors as the upcoming launches on the Ethereum network is attracting more investors.
Cardano is a cryptocurrency that is topping almost all the top 10 cryptocurrency charts. Its blockchain is expected to see lots of new improvements and experts believe that Cardano is great for long term investors to see profits. Currently ranked fifth on CoinMarketCap, Cardano is mostly stable throughout the market volatility. At the time of writing, Cardano is valued at US$1.21.
Compared to Bitcoin, Bitcoin Cash has faster transaction speeds and lower rates. Born as a split from Bitcoin, Bitcoin Cash offers scalability which means it holds the same potential to create a massive crypto market boom just like Bitcoin. During the past week, Bitcoin Cash crashed from US$645 to now trading at US$462. This decline in value is a buying opportunity for budding investors.
Ripple made many headlines in the past weeks, from winning the lawsuit against the US Securities and Exchange Commission (SEC) and Ripple's plans to go public. These two factors and more have made the XRP token a hot cryptocurrency. It also holds many utility features and XRP is one of the most affordable cryptocurrencies with a high growth potential. At the time of writing, the XRP token is priced at US$0.6198.
Mark Cuban invested a huge amount in Polygon and that made enough headlines to boost its reputation in the cryptocurrency market. In 2021, this crypto coin grew 9000% and that's enough reason for investors to start looking at Polygon more seriously. Current Polygon price is US$1.16.
Enough has been said about Dogecoin being a meme cryptocurrency. With a market cap of US$26 billion, it's the seventh largest cryptocurrency and has grown 13,000% in 2021. It was always a low-priced, low-risk cryptocurrency, but now the price has gotten even lower owing to the market dip. Investors, this is your time to capitalize on this dip.
Shiba Inu gets a notable mention in this list because this cryptocurrency's popularity soared due to Elon Musk's Saturday Night Live appearance. That incident resulted in a 30% in Dogecoin's value and benefitted Shiba Inu.
Fourth largest crypto coin according to its market cap of US$43 billion, Binance Coin has been an investor favourite for a long time. Connected to Binance, one of the largest cryptocurrency exchanges in the world, Binance Coin has the power to withstand market volatility better than many other cryptocurrencies. When you factor in its utility purpose on the Binance exchange along with its market stability, Binance Coin is always a reliable cryptocurrency to buy.
BitTorrent is one of the oldest cryptocurrencies in the market and it has more than 100 million users to date. The utility purpose behind BitTorrent's network allows content creators to interact with their audience, allowing them to use BitTorrent without a third-party involvement. The talks about BitTorrent and Tron collaborating for a project is adding to the popularity of BitTorrent.
This list of the popular cryptocurrencies will be incomplete without Bitcoin. The largest cryptocurrency and the first to start this hype, any fluctuation in Bitcoin's value has a direct impact on the entire cryptocurrency market. Recently, Elon Musk tweeted about Bitcoin's possible acceptance as one of Tesla's payment methods has spiked its price again, helping its value go closer to its all-time high of US$60,000.
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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.
