The crypto market has experienced eight consecutive weeks of bearishness, meaning that we could be on the point of a bull rally or relief rally, where we unlock some of the hidden bullishness that has not been able to be exploited.
Suppoman, a Crypto news and opinion channel, has presented the top 5 hottest altcoins that you may potentially be able to benefit from investing in for the short term, and as bearishness comes back into the market, you may be able to accumulate at fantastic prices.
Moonbeam (GLMR)
The first altcoin mentioned on the list is Moonbeam (GLMR). Moonbeam is an Ethereum-compatible smart contract parachain on Polkadot. Moonbeam makes it easy to use popular Ethereum developer tools to build or redeploy Solidity projects in a Substrate-based environment.
Moonbeam has the potential to be the next Ethereum killer. Moonbeam has gone down from $1.42, which was its highest. This is a cryptocurrency to accumulate for the long term prior to the halving.
Moonbeam is going to be around for multiple cycles because it’s building adoption. Uniswap version 3 is going to be deployed on Moonbeam. So you can trade all assets and because Moonbeam is a multi-chain protocol, it allows for multiple blockchains including Polkadot assets to be traded on Uniswap.
So this is one small step for Moonbeam. It is new and it’s got so much room to grow and that’s why Moonbeam takes first place on this list. GLMR is trading at $1.29 at press time.
GLMR/USDT | Source: TradingView
Decentraland (MANA)
The second altcoin on the accumulation list is Decentraland (MANA). Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications.
Decentraland has had an 81.81% dip from its all-time high. But this is the number one metaverse in the cryptocurrency space. It is a potential for bullish times. Therefore, Decentraland is number one. This is essentially the Bitcoin of the metaverse. As a result, if you can wait for it to go much lower and not buy out at all-time highs, you will be able to earn some sweet profits.
Decentraland is going to grow as an ecosystem. Its aim is to become a better and faster blockchain, particularly for NFT and money transactions. MANA is changing hands at $1 and ranking number 35 by market cap.
MANA/USDT | Source: TradingView
Astar (ASTR)
The next hottest altcoin for June is Astar (ASTR). Astar Network is a dApp hub on Polkadot that supports Ethereum, WebAssembly, and layer 2 solutions like ZK Rollups. Astar aims to be a multi-chain smart contract platform that will support multiple blockchains and virtual machines. Polkadot Relay Chain doesn’t support smart contracts. That’s why it’s important for the ecosystem to have a parachain that enables this for all developers who want to build in the Polkadot ecosystem.
Astar network is a competitor to Moonbeam. Astar has a $213 million market cap, which is a hundred million less but it’s got the same volume.
It is essentially a Polkadot parachain. It scales up Ethereum and Polkadot. It’s got very similar attributes and it is multi-chain and EVM compatible, just like Moonbeam.
Astar has got potential big potential and it is a low cap means it’s a high risk. Astar is building quite a big ecosystem. They’ve already got a number of big partnerships or big businesses building within the ecosystem.
They have got amazing backers arguably as impressive as Moonbeam. So having that kind of backing gives Astar a greater potential to grow over cycles. So that they could do very well over the long term. ASTR is trading at $0.06.
ASTR/USDT | Source: TradingView
Mina (MINA)
The next altcoin mentioned on the list is Mina (MINA). Mina has gone down 90% from its all-time high. Mina could go down to its IDO price. That represents the best opportunity to get into it because Mina is special.
Unlike other blockchains, Mina has got a branding specialty. It is new in terms of what it’s trying to achieve essentially. It is the smallest blockchain in history. That’s what makes it special. This is a new type of blockchain that we’ve never seen before, like a new class of layer 1 blockchain. MINA is changing hands at $0.9.
MINA/USDT | Source: TradingView
Kadena (KDA)
The last hottest one is going to be Kadena (KDA). Kadena is a proof-of-work blockchain that combines the PoW consensus mechanism from Bitcoin with directed acyclic graph (DAG) principles to offer a scalable version of Bitcoin. Kadena claims it can provide the security of Bitcoin while being able to offer unparalleled throughput that makes the blockchain usable to enterprises and entrepreneurs alike. Kadena’s unique infrastructure is decentralized and built for mass adoption because of its multi-chain approach.
Kadena is a very interesting layer 1 cryptocurrency because it’s a proof of work cryptocurrency. It’s run by people staking their tokens on the network. That means it’s much greener and harder.
Kadena can support up to 480,000 transactions per second, which is the complete antithesis of what a proof of work consensus algorithm can normally achieve. So it means that this is a very interesting project.
It’s got incredible transaction speed and its ecosystem is growing, so they have got numerous amounts of projects and some great and good exchanges.
Kadena is an ecosystem that is used because the smart contract language is essentially meant to be the safest smart contract language, one of the most powerful and human readable.
The inflation rate so essentially, 70% of its supply is going to go to miners. Another great thing about Kadena is the gas fees. The gas fee is pretty low and Kadena could be good in the short term.
KDA/USDT | Source: TradingView
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