The editors of Be[In]Crypto has picked seven promising altcoins for you that could see significant progress in June.
Here’s our list of the top seven altcoins for the month of June.
- Current price: $0.039
- Market cap: $376 million
- Market cap: #102
IoTeX is a fast, secure and scalable blockchain. The goal is to create and develop an open ecosystem where users and machines interact freely, all within a framework of trust. In addition, IoTex uses a blockchain compatible with the Ethereum virtual machine (EVM), which also helps in scaling decentralized applications (dApps), especially in solving the problem of high gas tariffs.
Version 1.8 of the new main network was launched on May 30. This offers several new features, including:
- Stakeout on MetaMask
- Improved robustness of P2P transactions.
- An improved Application Programming Interface (API).
Since early April, IOTX has been trading below a falling resistance line. This bearish move took the asset as low as $0.021 on May 12. Since then, IOTX has been gradually recovering, breaking above the bearish resistance line on May 23.
If bullish momentum continues, the main resistance area would be found between the 0.5 – 0.618 Fib retracement resistance levels at $0.068 – $0.079.
- Current price: $204.5
- Market Capitalization: $3.71 Billion
- Market cap: #26
Monero is a secure and confidential blockchain that aims to provide complete privacy to its users. It does this by masking sender and receiver addresses using advanced cryptographic technology.
The release of Monero tails will begin on June 9 after block 2,641,623 is resolved. This means that from that date, the reward amount will be 0.6 XMR per block.
Since May 12, XMR has been moving within an ascending parallel channel before falling on May 27. Despite this drop, the asset has regained strength and is currently trying to restore the channel’s support line.
Since the support line coincides with the USD 200 horizontal resistance zone, it is likely to offer strong resistance. A move above this level would likely cause the price to rise rapidly.
- Current price: $0.65
- Market Cap: $21.9 Billion
- Market cap: #6
Cardano is a blockchain that provides security and sustainability for decentralized applications (dApps). This network, based on proof of stake, was founded in 2017 by Charles Hoskinson† The hard fork “Alonzo”, implemented in 2021, added smart contracts functionality to the platform.
For its part, the Vasil hardfork will be launched on June 29. This fork, which focuses on improving connectivity and network stability, is the second largest update after Alonzo. According to the founder of the project, many Cardano dApps will be able to benefit from pipelining.
After reaching an all-time high in September 2021, the price of the ADA crypto gradually declined within a declining parallel channel. The bearish move ended on May 12, when the token bounced off the channel’s centerline.
The daily RSI has generated a bullish divergence (green line). In addition, it recently broke above a bearish trendline.
If a breakout occurs, the price of ADA could reach $1.25.
- Current price: $2.31
- Market cap: $1.17 million
- Ranking by Market Capitalization: #212
DefiChain is a blockchain platform that aims to maximize the potential of decentralized finance (DeFi) within the Bitcoin (BTC) ecosystem. For this, it connects to the BTC ecosystem via a so-called Merkle root. The platform offers solutions for security, scalability and decentralization issues. The nodes are spread across the four corners of the world, including the United States, Europe, India, Canada, and Singapore.
The new block reward system was launched May 30, when block 1,928,200 was resolved This system offers better rewards for several equity tokens, including those from Microstrategy and Gamestop.
On May 21, DFI broke below a rising support line that it has held for 305 days. If it does not restore this support, the trend cannot be considered bullish.
- Current price: $82.31
- Market Capitalization: $1.81 Billion
- Market cap: #38
Elrond is a blockchain protocol that offers extremely high transaction speeds thanks to its sharding mechanism. This mechanism provides a 1000x improvement in scalability over the previous blockchain iterations. In addition, the platform can handle 15,000 transactions per second at a low cost. As a reminder, the main network was launched in July 2020.
The platform’s native token is called EGLD. It is used for staking, validator rewards, and payment of network fees.
Several major projects are planned for the second quarter of 2022, including Elrond Superwave, Elrond Gamify and phase 4 staking.
Since March 28, EGLD has been in a bearish resistance line. On May 27, this bearish move took the asset as low as $65.68.
If a break occurs above the resistance, the closest resistance would be close to $122. According to last fall’s analysis, this is the resistance level of 0.382 Fib retracement.
Mina protocol (MINA)
- Current price: $0.97
- Market Cap: $513 Million
- Market cap: #88
Mina is a blockchain that promises to make dApps work more efficiently. Despite growing adoption, size is designed to remain constant. Therefore, it is considered a “short blockchain”. This network called “Coda Protocol” was renamed “Mina” in October 2020.
The protocol uses a new mechanism called zero-knowledge succinct proofs (zk-SNARKs). Specifically, this system allows him to verify information without disclosing it.
The zkApps Builders program will start in the second quarter of 2022. It is an innovative project with the following main objectives:
- Remove barriers that prevent developers from working on Mina.
- Attract new developers to Mina.
- Improve the developer experience through feedback and faster iteration.
Between May 11 and May 28, MINA created a double bottom pattern near $0.80 (green dots). While this is considered a bullish pattern, it has not yet led to a sustained upward trend.
- Current price: $8.77
- Market cap: $1.84 million
- Ranking by Market Capitalization: #2806
Terra is a public blockchain derived from the Terra Classic network, which hosted the UST stablecoin. After the loss of parity of the UST with the dollar and the subsequent crash of LUNA, an airdrop of LUNA 2.0 was launched on May 28.
The new Terra was launched on May 31 on Binance.
LUNA started at $4.12 on KuCoin and is currently trading at $8.30.
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