For the month of June, majority of the cryptocurrencies logged losses, but despite the volatility that stood out in this asset class during the month, you may want to know about the cryptocurrency which performed the best or saw the lowest losses. Here's the complete list of top 3 cryptocurrency assets as sourced from the Coindesk- the blockchain news outlet that has compiled a list of top 20 crypto assets.
1. Bitcoin (BTC):
It may be surprising for some crypto enthusiast and stakeholders but the largest cryptocurrency has stood as the best performing crypto for the period under review i.e. June 2021. Though the market expectations such as imminent Death cross event spooked the crypto to again below $US 30000, it managed to end the June month higher.
2. Algorand (ALGO):
This is an open-sourced, decentralized blockchain capitalizing on two-tiered structure and is aimed at increasing speeds as well as realizing finality. The blockchain network makes use of Proof-of-Stake (PoS) consensus mechanism. For the month of June, ALGO loggest second lowest losses of more than 4 percent as per the Coindesk Research and the crypto last quoted at a price of $0.8451.
3. Filecoin (FIL):
The open-source cryptocurrency and digital payment solutions fell in value by over 14% or close to 15%. The cryptocurrency has been mined aiming to be a digital storage as well as data retrieval method. Developed by Protocol Labs, the Filecoin crypto allows users to rent unused space in the hard drive. As per Coinbase portal, the 24 hour change in the crypto has been down by 8 percent and quotes at $4205.
4. Tezos (XTZ):
As per the official website of the crypto, it is an open source platform for addressing major hurdles confronting blockchain adoption for assets as well as apps. Also the structure of the Tezos crypto is designed in a way to take on long term upgradability, open participation, collaboration as well as smart contract safety.
For the June month, Tezos declined by close to 17.5% and last quoted at a price of $2.92 with a percentage increase of over 5% in the last 24 hours.
5. Ethereum (ETH):
The second most valuable crypto by market capitalisation stood as the fifth top cryptocurrency for June 2021 and lost as much as 17.7% in its price. It is being advocated by experts that Ethereum has the potential to pip Bitcoin and also for some time we had even seen the volume in Ethereum rising above Bitcoin.
6. Cardano (ADA):
The crypto conceived via peer reviewed research which came into existence on the basis of evidence based methodologies is a proof of stake blockchain platform. The crypto integrates pioneering technologies for offering unmatchable security as well as sustainability solutions for decentralized applications, systems, and societies.
as part of the crypto sell off, the crypto also registered a fall of 19.2% from the month trading at $1.7210 beginning June 1. As on July 1, it quotes at a price of $1.34 and is said to be a 'Buy' for July month as a bullish breakout is seen for the digital token.
7. Litecoin (LTC):
This crypto can be used by anyone, anywhere without permission for transacting with anyone else globally. As of early June, the crypto is the 14th largest by m-cap. The token primarily makes use of peer to peer technology.
"Due to Litecoin's complementary nature to Bitcoin and the fact it has established a market for itself, it is often considered the first successful alternative cryptocurrency, or altcoin", said co-founder of Coinflip.
"If you are interested in investing in a technology that enables fast and inexpensive borderless transactions, Litecoin is a great investment opportunity," he added. Also, it has been a relatively stable crypto or altcoin when compared to other altcoins at around the same time. "Litecoin is a digital currency that uses peer-to-peer technology to send payments anywhere in the world quickly," he said further.
The price of Litecoin as at the time of writing this copy is $135.8 and it dived a huge21.6 percent in June month.
However there are varied views around the altcoin and some also see it as a good speculative trade opportunity and not a good investment idea.
8. NuCypher (Nu):
This is a decentralised encryption, key management system (KMS) and access control encryption service for public blockchains. The crypto facilitates end-to-end encrypted data sharing on decentralized storage solutions as well as public blockchains.
The crypto is considered a good investment on the following premise: the crypto has a low circulating supply, a small m-cap and because of its utility. Further it has a strong technological backing and solid use cases.
In June, the crypto dived a good 22%, and it last quoted at a price of $0.2299.
9. Bitcoin Cash (BCH):
Bitcoin Cash aims to be decentralised, peer to peer digital cash. Considering the prospects of Bitcoin Cash, the token in comparison to Bitcoin can be a safe bet and is a better investment considering the average transaction fee is low. Also, BCH can also manage around 25,000 transacions per block. Bitcoin processes 1,000-1,500 transactions per block.
Also, since its launch the crypto has not been hacked while bitcoin is associated and linked to illicit activities.
For the June month, Bitcoin cash fell in price by 26% and last quoted at a price of $495.22.
10. Yearn Finance (YFI):
This is an application based Ethereum token that looks after the Yearn.finance platform. The platform is a yield optimizer that moves funds around the decentralized finance ("defi") ecosystem for generating a high return. As on July 1 at the time of writing this copy, it is $32,279.
It is an open-source, decentralized finance lending protocol and facilitates users in optimizing their crypto assets via lending and trading services.
This is the second most expensive crypto after Bitcoin with a far lower supply. In few months time the crypto has skyrocketed in value. Its all time high has been $95,071. By the end of 2021, yearn.finance might be traded around the $95,000 mark.
So, it is definitely a buy given the current dip which should be capitalised upon.
For the June month, the crypto fell a staggering 28 percent.
Disclaimer: The story is for informational purpose only and investors should do their own research and consult investment advisors.