Alt season is upon us – get these cryptocurrencies beforehand
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Alt season is heating up. Between Bitcoin Flirt with its all-time high of over $70,000 for an Ethereum Exchange Traded Fund (ETF) is falling The high season can start at any time now. And the best preparation is to choose which cryptocurrencies to buy before they become available.
While you could invest in projects that could rally for no apparent reason (looking at you, meme coins), your safest bet would be coins that have actual fundamentals.
And while all cryptos have wild fluctuations, projects with real-world use cases tend to be slower but safer, which makes sense if you don’t want your money gobbled up in a short-term crypto.
For this edition of Cryptos to Buy, we’ve picked out three tips that could be a great addition to your portfolio in June.
Cryptos to Buy Before They Go to the Moon: Uniswap (UNI)
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Uniswap (UNI USD) is a decentralized exchange (DEX) and decentralized finance (DeFi) platform. ether (ETH-USD). It is the most successful DEX and also the largest by trading volume and total value locked (TVL) – the amount of money staked on a DeFi platform.
On a day like this in 2023, the Uniswap token acted at about $4. Right now it costs about $10. This is an increase of 150% compared to the previous year.
You will also notice this in March, UNI consolidated at around $14 on several consecutive days. Observant investors who got in last year when the token was trading below $5 saw returns of 2.5x during this time frame.
Now the price of the token could rise even further following a planned protocol upgrade. Through the Uniswap Foundation postponed the vote With the upgrade on May 31st, the price is likely to rise once it is on track.
All signs point to Uniswap’s price only going up from here, making it one of the most promising cryptocurrencies to buy this June.
Cardano (ADA-USD)
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Most cryptocurrencies have gained, but not, this year Cardano (ADA USD), which is down 30% year-to-date (YTD). It is difficult to say the cause of the decline, but it could be because the smart contract platform has remained in the shadow of its so-called “Ethereum killer.” Solana (SOL USD). Solana, known for its ultra-fast speed, has gained 45% since the beginning of the year.
However, ADA investors are hoping that Cardano will look up again this month undergoes a hard fork his final phase of development: Voltaire.
The Voltaire Era will give Cardano users and stakeholders voting rights to participate in governance and have a say in the future of the platform. Voltaire will also introduce a treasury to finance development proposals.
For cryptocurrencies, protocol updates are usually accompanied by an increase in price. There is no way to know for sure whether Cardano will maintain favorable price behavior after the upgrade, but if you are looking for a cryptocurrency to buy this June, Cardano could be right for you.
Aave (AAVE-USD)
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It looks like Aave (AAVE-USD) is another cryptocurrency that is likely to see an uptrend thanks to an ecosystem upgrade.
In May, co-founder Stani Kulechov confirmed in a repost on
Aave Labs has already done this submitted a proposal for V4. V4 is a development proposal that would introduce several ambitious implementations. These include “improving modularity, reducing governance overhead, and optimizing capital efficiency.” The V4 upgrade is expected to come into effect in the middle of next year.
As you can see, Aave has several network upgrades in the works, which bodes well for price performance in the near future. It certainly helps that it has the power to be among the top three crypto lending platforms $10.5 billion in TVL. AAVE is undoubtedly one of the best cryptocurrencies to buy this season.
At the time of publication, Hope Mutie did not have any positions, directly or indirectly, in any of the coins mentioned in this article. The opinions expressed in this article are those of the author and are subject to the opinion of InvestorPlace.com Publishing Guidelines.
