There are over 1500 cryptocurrencies according to data on CoinMarketCap. The vast number, coupled with a lack of understanding from investors, makes choosing one a challenging experience for any new investor. However, there are coins in the top 50 rankings that could turn out to be great investments. Our top picks for June are Bitcoin Cash, Monero, and Binance Coin.
Bitcoin Cash (BCH)
Bitcoin Cash ended May as one of the top coins in terms of trading volume. A confluence of positive events has meant that June is also a very month for the crypto. Even throughout the bearish market, BCH has often felt like a coin ready to explode.
At the moment, BCH leads the top three in terms of gains over the last 24 hours and 7 days. It currently trades at $140 against the US dollar and has a market cap of $19.5 billion. Its value has risen by +6% and +12% in the last 24h and 7-day periods.
Bitcoin Cash has grown in popularity as it gains more acceptability and adoption. The very low transaction fees, highly scalable ‘on-chain’ transactions, and reliability make the BCH network very attractive for developers. Initiatives in recent months have seen more sites and companies look to use the network.
Blockpress and CoinText are the latest to seek to build on the crypto’s platform. These add to the massive adoption underway in Japan and the expected impact of the BitcoinCashers.org that seeks to spearhead BCH adoption and use around the globe. There are also plans to have all miners to process transactions at zero fees, increasing capacity for adoption and growth.
Monero has been out of the limelight of late, but now it appears the coin is back and June could be the month it breaks free. The XMR coin is a privacy-focused framework that prides itself in total untraceability and unlinkability of transactions.
Microsoft’s acquisition of GitHub has created a stir in the crypto community and one of the coins that could feel an impact is Monero. Already developers are moving to the rival platform GitLab, a move that has helped reduce the impact of the acquisition.
XMR currently trades at $164 against the US dollar and has a market cap of $2.6 billion. At the time of writing, the crypto has seen a total of $38 million worth of its currency traded. Monero is trying to pick up on a bullish trend, though it still isn’t completely into the green. In the last 24 hours, it has surged by 2% and +4.50% in the last 7 days.
If the expected uptrend sustains, it could easily reach above $200 by Q3 and beyond $300 by the end of the year. One of the latest factors that could work for the coin is the positive sentiment around its wallet. Its unique features have enhanced speed, security and support more than 10 languages. If the team keeps working on its security, then XMR could carve a big chunk of the privacy and anonymity market.
Binance Coin (BNB)
Binance Coin (BNB) isn’t new to huge price gains and rallies that defy market trends. At the moment, things are looking up for the crypto. In late May, Binance listed Theta (THETA), Civic (CVC), and added trading pairs like EOS/USDT, and EOS/BNB. Following these events, the value of the token grew by more than 30%.
The same month saw the crypto exchange announce a bonus reward for holders of the coin. Its value spiked by nearly 50% in 24 hours. And just the other day, Binance added XRP/USDT, TUSD/USDT, and XLM/USDT.
The Binance platform’s decision to become an all-inclusive exchange is good for BNB. The increased activity at the site is helping ignite more interest in the coin. A week ago, the coin traded at $13 against the USD.
At the time of writing, however, it has risen to $16.89, spiking by an incredible +15.9% in the last 24 hours. That’s not all. BNB has risen by +34.50%, one of the best gainers in the market. The crypto currently has a market cap of $1.9 billion and $122 million worth of the tokens have been traded in the last 24 hours.
Binance Coin will continue to grow in tandem with the growth of the Binance cryptocurrency exchange.