Regrettably, the crypto market has experienced a challenging period over the past few weeks. The value of Bitcoin has plummeted below the support price of $28,000. Altcoins have suffered even greater losses, largely due to a manipulative strategy known as pump-and-dump. However, there is a possibility that the market is now reaching a critical juncture. If you are considering investing in altcoins before the start of the new year in 2023, we have compiled a list of the top 5 Altcoins to buy in June 2023.
In the past week, the crypto market experienced a slight decline, causing the total market capitalization to decrease from $1.122 trillion to $1.112 trillion. This dip was reflected in the performance of various cryptocurrencies, with GMX, SUI, and FTM emerging as some of the biggest losers. GMX witnessed a significant drop of 15%, followed by SUI with a decline of 13%, and FTM with a comparatively lower decrease of 10%. These fluctuations in prices can be attributed to a range of factors, including market sentiment, regulatory developments, and investor behavior.
Top 5 Altcoins to BUY in June 2023
5. Cardano (ADA)
The Cardano (ADA) price has performed well so far in 2023 and has gained more than 50% since the turn of the year. Cardano can probably benefit from technical innovations such as the Vasil update , which came in September 2022.
In the coming weeks, the positive trend in the ADA price could continue and a possible Altcoin bull run should allow the price to increase by 20% or more.
4. Ripple (XRP)
The XRP price saw a stronger performance in the last few weeks than at the beginning of the year. The reason for this is the increasing optimism of the community regarding a possible verdict in Ripple’s legal dispute with the SEC .
A possible altcoin bull run could cause the XRP price to rise sharply. In the long term, XRP carries a higher risk due to the uncertainty of regulation by US authorities. However, we could see a bullish trend for the coming weeks.
3. Tron (TRX)
In the slipstream of the top 10 cryptocurrencies, Tron or the TRX token has recently seen strong increases. Over the past few days, TRX has surged more than 10% while other altcoins have seen little gains.
This trend could continue in the coming weeks, making Tron the third-best altcoins to buy for June 2023.
2. Polygon (MATIC)
June 2023 presents an opportune time for investors to consider MATIC as a potential lucrative investment. One of the key factors making MATIC an attractive buy is its highly undervalued price. Despite its immense potential, MATIC has been trading at a comparatively lower price, making it an appealing option for those seeking undervalued assets in the crypto market. Additionally, the sustained usage of the Polygon network by prominent companies in the web3 space further strengthens the case for MATIC.
As these companies continue to adopt and leverage the Polygon network, it enhances the utility and demand for MATIC tokens, potentially driving up its price. With the upcoming bull run, many analysts and experts predict that MATIC prices will experience substantial growth and overperform, making it an appealing choice for investors seeking higher returns. However, as with any investment, it is important to conduct thorough research and consider various factors before making investment decisions.
1. Stellar (XLM)
XLM (Stellar Lumens) currently presents an intriguing investment opportunity as it continues to be undervalued, trading below 10 cents. This low price point positions XLM as an attractive option for investors looking for potential growth in the cryptocurrency market. Moreover, XLM’s price is closely tied to Ripple’s developments, and Ripple’s recent legal victory against the SEC has the potential to positively impact XLM’s price in the upcoming bull run. As Ripple’s partner and a significant player in the cross-border payment sector, Stellar stands to benefit from Ripple’s success.
The increased credibility and renewed market confidence in Ripple’s legal proceedings could potentially lead to a domino effect, benefiting XLM’s price performance. However, it’s important to note that the cryptocurrency market is highly volatile and influenced by various factors. Conducting thorough research and considering a range of factors is vital before making any investment decisions.
