We are slowly halfway through 2023. There has not been a visible revival in the Bitcoin and altcoin market yet. Most cryptocurrencies are swimming in the red sea. Some cryptocurrencies have modest gains. Now that June is on the horizon, which cryptocurrencies will have bullish potential. Let’s have a look.
Will there be an altcoin storm in June?
There are some cryptocurrencies that will stand out in the altcoin market. XRP leads them. There is a lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple. There is a possibility that the case will result in favor of the company. This can have a significant impact on the XRP price. At the time of writing, there is a decrease in the price of XRP.
One of the cryptocurrencies that is likely to increase in June is Cardano (ADA). Charles Hoskinson states that Cardano decentralization will set an example for other cryptocurrencies. Meanwhile, the team behind altcoin Cardano (ADA) is busy right now. The main reason for the study is to develop the blockchain using the Proof of Stake algorithm. The PoS algorithm produces excellent results in terms of transaction volume. On the other hand, active crypto wallets are extremely important for Cardano, with whale savings, staking value and smart contracts. Cardano is struggling to reverse the 4.85% losses from the previous month. The price is currently located at $0.37. Accordingly, the price has the potential to increase.
Which are the others?
Altcoin TRON (TRX) has managed to reach the leading position in AltRank. AltRank compares the social and market activity of an asset against the rest of the crypto market. Here, the top 5,242 cryptocurrencies are listed in terms of social, market and price activity. TRON, which is on the list of the best cryptos under $0.10, is trading at $0.08. It fell 1% the other day. However, it posted more notable gains of 9.88% last week and 17.43% over the previous month.
Polygon (MATIC) will be rolling out a major new update to its network fee structure in the next few weeks. Accordingly, there will be a 20% reduction in zkEVM optimizations and transaction fees. While the company’s team is explaining the developments, there is a possibility that there will be an increase in the price. On the other hand, altcoin Polygon is trading at $ 0.87 in the last day. Accordingly, this price means a decrease of 11.89% on a monthly basis.
After a major vulnerability was discovered in the Ledger cold wallet, its former users seem to be turning away from it. Many choose the altcoin Polkadot (DOT) and the Vault app. A cold wallet solution that allows users to turn their phones into a cold wallet even when in airplane mode due to its air-gapped feature. Air-gapped wallets are crypto wallets that are completely disconnected from the internet and any wireless communication. This often means that they are disconnected from both traditional internet connections and Bluetooth, WiFi, NFC (near field communication) and even USB drives. This inevitably gives the blockchain token an advantage in the near future.
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