Despite the market downturn, cryptocurrencies are still popular. If you’re new to the space, it could be mind-boggling picking the best digital asset to invest in.
These virtual currencies have grown exponentially, and early adopters have substantial returns to show for their investments. While there are thousands of crypto assets on the market, these five cryptocurrencies have the best growth potential coming into the month of June.
Top Cryptocurrencies to Buy With Massive Potential
PancakeSwap is a decentralized finance (DeFi) application and automated market maker (AMM) that enable users to convert digital tokens on its platform. It is also popular due to the massive returns users get from farming its liquidity pool.
Aside from users providing liquidity and earning CAKE (a native token) and SYRUPs back, PancakeSwap runs a lottery session, and users can stake CAKE to win a specified amount of CAKE.
Rivaling popular decentralized application (dApps) platform Ethereum, PancakeSwap was created in response to the high gas fees users have to pay while using the second most valuable cryptocurrency network.
In market movement, CAKE has experienced the best of both worlds. Surging over 30% year to date, PancakeSwap’s CAKE has traded as high as $42.91 in the April boom. However, the recent downtrend of Bitcoin has seen CAKE lose a third of its value in the May crypto market crash.
Currently, 1 CAKE currency trades for $16.71, with a 6.28% slump on the daily trading chart. This is an opportunity to get in on the action.
Elrond with crypto ticker EGLD is our second best crypto investors need to put their money on. With a $1.5 billion market cap, Elrond is a blockchain platform that aims to fast-track the shift to Web 3.0 with its sharding technology.
Elrond’s native token EGLD has also benefited from the recent crypto boom surging to a mouth-watering $243.4 on April 11. But the decline of Bitcoin has seen it lose 70% in the massive selloffs that followed regulatory tightening in China.
Trading at $86.48, the altcoin is poised for a remarkable recovery once the broader crypto market escapes the volatile stage.
If you are familiar with the entertainment industry, then you will understand what BitTorrent (BTT) aims to achieve.
Bram Cohen created BitTorrent in 2001 to make people share files trustlessly, thereby bypassing go-betweens. This way, content creators can receive fees from consumers without having to go through intermediaries.
Ranked forty-eight on the global crypto chart, BitTorrent is home to over 100 million active users who share everything from music to videos, documents, and podcasts.
Eventually acquired by the Tron network in 2018, BitTorrent has grown exponentially as more users flock to its P2P communications protocol.
Riding on the crypto wave of April, BitTorrent’s BTT TRC-10 native token surged to $0.1068 from $0.003337 a few weeks earlier. However, following the general market downtrend, BTT has seen negative price action and sits 3.74% with a valuation of $0.00355.
With a market cap of over $2.3 billion, BitTorrent is a crypto protocol to keep on your watchlist.
Altcoin Siacoin (SC) is the native utility token of blockchain-based, decentralized storage platform Sia.
The protocol is looking to onboard users with a decentralized storage marketplace and at a competitive rate.
Speaking on its mission, the Sia development team said Sia wants to become the backbone storage layer of the internet, and if anything is to come out of this, Sia is performing well in the market.
Ranking ninety-third on the charts, Sia boasts of over $750 million in market valuation. However, Siacoin is also facing volatility like other altcoins mentioned here and trades below the dollar mark at $0.01564.
Quantum (that’s how it’s pronounced) is a proof-of-stake (PoS) blockchain protocol that leverages Bitcoin’s unspent transaction output (UTXO) model and Ethereum’s smart contract capabilities.
Qtum aims to offer crypto users all the benefits of the two large-cap protocols without any of their deficits. Qtum has dipped from 30 days high of $27 to $9.30.
Ranking eighty-second on the chart, QTUM has a market cap of $964 million and trades at $9.28.