The cryptocurrency sector has had a difficult year in 2022. Since their highs in November 2021, most cryptocurrencies have lost 50% of their value. However, the market has hit a low point, and several cryptocurrencies provide a compelling chance to invest. Buying a commodity that has temporarily fallen in value before continuing its upward trajectory is always a smart choice. As a result, we’ve compiled a list of the best 5 cryptocurrencies to BUY in June 2022. Thank us later 😉
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#5 Chainlink (LINK)
Chainlink is a blockchain framework that allows universally connected smart contracts to be integrated. It’s also a decentralized network of nodes that use oracles to deliver data from off-chain sources to on-chain smart contracts. The network became live in 2019 and allows blockchains to safely connect with events and other data streams. Stock prices, sports scores, and other data streams are examples of this type of data.
Today, LINK prices are heavily discounted and reached a current price of $7. If the crypto market rebounds higher, LINK price can easily reach its next target of $14, making a 100% return.
- Current price: $7.1
- Current market capitalization: $3.3 billion
- Market cap rank: #27
#4 Binance Coin (BNB)
Binance is one of those crypto projects that doesn’t need any introductions. Most crypto traders use Binance to trade and store their cryptocurrencies. It is one of the biggest centralized exchanges with a wide variety of cryptocurrencies to choose from. The company is always on the move and adding new functionalities while making sure its operations are intact.
Their token BNB fell indeed with the crypto market and is currently highly discounted at around $300. When the crypto market recovers, BNB prices can easily reach the previous price of $600, making another 100% return. Before achieving this, prices have to break the $363 and the $445 price marks.
- Current price: $300
- Current market capitalization: $49 billion
- Market cap rank: #5
#3 Avalanche (AVAX)
Avalanche is a scalability, security, and decentralization-focused blockchain technology. It went live in September of 2020. Three major problems in the bitcoin sector have been solved by its speed, flexibility, cost, and accessibility. Any smart contract-enabled Decentralized Application (DApp) that uses Avalanche can outperform its competition. In terms of functionality, Avalanche is comparable to Ethereum. It employs a Proof of Stake (PoS) consensus mechanism, which is similar to the one being used by Ethereum.
AVAX price crashed hard during the past crypto crash, losing more than 80% YTD. However, its prices formed a support area at around $21. From this price, and with a proper rebound alongside the crypto market, AVAX can at least reach a price of $30, making a decent 50% return.
- Current price: $24.1
- Current market capitalization: $6.5 billion
- Market cap rank: #15
#2 Ripple (XRP)
A lot of people are still waiting for XRP to bounce back up following the harsh SEC lawsuit case. The latter destroyed XRP prices, making it one of the cryptocurrencies that were never able to reach its previous all-time high price. Ripple is a project that allows users to send, receive, hold and move currencies across borders in a fast and reliable way. Our current system which relies on banks and payment gateways is slow, fragmented, and expensive. Ripple company can settle transactions in 3 to 5 seconds from anywhere in the world. It is in fact much faster than Bitcoin and Ethereum!
XRP prices fell below the $0.50 price mark on the 10th of May 2022. The entire crypto market crashed, but XRP’s current price is very risky. Thanks to a strong consolidation around $0.40, prices managed to hold. If the market manages to recover soon, XRP should reach again $0.70, an area that was a strong support.
- Current price: $0.39
- Current market capitalization: $18.8 billion
- Market cap rank: #7
#1 Cardano (ADA)
The last cryptocurrency in our list of the top 5 altcoins to buy in June 2022 is Cardano’s ADA token. Cardano is a delegated Proof of Stake blockchain (dPoS), that supports smart contracts similar to Ethereum. The marketing of this project propagates a scientific approach. The development under Charles Hoskinson is rather slow, with multiple deadlines already pushed forward. On the other hand, the Basho update should be coming soon, around Q3 of 2022. This update is highly anticipated by investors and should have a positive impact on the valuation of the Cardano project.
The token ADA witnessed a surge in prices after they crashed hard, reaching a low of $0.44. However, prices managed to pick up and should be on their way towards $0.80 if the crypto market recovers soon.
- Current price: $0.56
- Current market capitalization: $18.9 billion
- Market cap rank: #6
Conclusion
As you may have concluded by now, most cryptocurrencies in the market currently are in a downtrend. It all depends on Bitcoin’s upcoming sentiment and trend reversal. On another side, it also depends on the general equity market as cryptocurrencies correlate with them. Once global buying power comes back to the crypto market, most cryptocurrencies will be up again, and in specific, the ones mentioned in this article. That’s why it’s always good to keep an eye on what’s happening in the market.
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