The cryptocurrency market has recovered, and safetrading.today is popular again. Bitcoin and other cryptocurrencies are on the rise again after Tesla went through difficult times as it stopped accepting bitcoins as payment. Why? Elon Musk announced that Tesla would continue to accept bitcoins if 50% of bitcoin miners use renewable energy sources. Since this announcement, Bitcoin has grown by 14% thus boosting the rest of the market. For this reason, we have listed 5 major cryptocurrencies to buy in June with renewed upward movement with the analysis of the SafeTrading team.
Since the publication of Elon Musk’s tweet on June 13, BTC has grown not only by 14%, but also by 20% last week. El Salvador, which passed a new BTC legalization law, also deserves a lot of praise in this revival.
These two events: The Tesla and El Salvador U-turn, were enough to restore investor confidence in Bitcoin. Annual profit during this time jumped from 300% to 329%. Daily tweets about Bitcoin are approaching all-time highs.
Likewise, Google searches for the word “bitcoin” around the world are now on the rise again, although they have declined since hitting a 12-month high in late May. If any cryptocurrency grows strongly as the market recovers, it will most likely be Bitcoin, and most of the SafeTrading approved channels create new plans about it.
What makes Bitcoin one of the best cryptocurrencies to buy right now is not only its upside potential but the fact that it has been quite resilient during the recent crash. Compared to some of the more extravagant altcoins, Bitcoin has done a better job of maintaining its value. It is currently about 37% below its all-time high of $64,840. In contrast, Dogecoin (DOGE) is 55% below its all-time high. Meanwhile, Binance Coin (BNB) and Chainlink (LINK) are trailing their record highs by 45.6% and 51.3%, respectively.
Binance Coin (BNB)
Binance Coin (BNB) has not recovered as much from the recent drop as Bitcoin, but there are several reasons to expect it to outperform most of the market. BNB is up 3.6% in the last 24 hours and just over 5% in the previous two weeks. At the same time, over the past 12 months, BNB has earned over 2000% of its profits.
First, BNB is a cryptocurrency that will snowball along with the market as a whole. Given that this is a local token of the Binance exchange, its price will increase as the use of the Binance exchange increases. Conversely, the price will rise as only holding BNB gives Binance users discounts on trades they have done in connection with safetrading.today.
Secondly, BNB will continue to benefit from the growth of the Binance Smart Chain. The total value of BSC securities has reached an impressive $27 billion. In addition, BSC has been increasingly used in recent months, and many platforms are switching to it.
Since BNB supports transactions on the Binance Smart Chain, we can expect its price to rise using the platform. Along with renewed enthusiasm in the market (leading to more Binance traffic), BNB is making it one of the best cryptocurrencies to buy right now.
Cardano (ADA) is another cryptocurrency that maintains its value more successfully than others. The ADA is trading at $1.59, 35.6% below its all-time high of $2.45. It’s better than Bitcoin and almost better than almost any other altcoin.
ADA also experienced a slight increase along with the rest of the market (Data of the SafeTrading team). Since the news of Tesla broke on June 13, Cardano has surged 12.8% from $1.41 to $1.59. This is also almost 2000% more than a year ago.
The main reason ADA is being used in the long run is that the recent rise of Cardano is still in the works. Cardano is currently developing smart contracts that will allow it to compete directly with Ethereum, Binance Smart Chain, and other platforms. ADA founder Charles Hoskinson also boasted that more than 100 companies are ready to move to Cardano when they mature. While there is no definitive evidence for this, BSC and Polygon’s ability to pull decentralized apps from Ethereum lends credence to Hoskinson’s claims.
Cardano smart contracts are expected to launch around August. When this service is established, it will indeed become widespread, which will significantly increase the cost of ADA.
Ripple (XRP), following recent moves, hasn’t rallied as much as other cryptocurrencies. At $0.883, it has risen 1.5% in the last 24 hours, and 7.3% since Elon Musk’s tweet was posted. It also increased by only 363% over last year.
However, this relatively low efficiency of XRP is the reason why altcoin is arguably one of the best cryptocurrencies available to investors. It hasn’t recovered as strongly as other cryptocurrencies, which suggests that it has a lot of room to recover soon, at least in this case.
Ripple’s litigation with the SEC will be a critical factor shaping the future of XRP. While filing this lawsuit in December 2020 seemed like a disaster, now the mood has completely changed. Ripple CEO Brad Garlinghouse said he spoke with several independent legal experts who have backed his claims recently. For example, lawyer Jeremy Hogan, who specializes in cryptocurrencies, has repeatedly stated that the SEC is not in a solid position in this case.
Although the final verdict on the case is not expected until December or January 2022, a positive result will significantly increase the price of XRP. For this reason alone, XRP is one of the best cryptocurrencies to buy right now.
Iota (MIOTA) is one of the rare cryptocurrencies (XRP is another) that has yet to break a 2017 record. However, since June 13, the price has increased significantly. Its current price of $1.14 is 14% higher than Elon Musk’s $1 when he tweeted about Tesla’s change of mind. It has grown by 7% in the last 24 hours and by 415% over the previous year.
It is somewhat disappointing that MIOTA failed to break the 2017 record during the 2020/2021 bull market. However, it also shows that the cryptocurrency still has a lot of room for solid growth in the future. This is because the MIOTA platform, the blockchain for the Internet of Things, is more of a novelty.
It is gratifying that this platform is thriving. It launched a developer testnet for IOTA 2.0 in early June. This, among other things, promised to decentralize the platform as a whole, as IOTA previously relied on a centralized coordinator.
IOTA also continues to announce new partnerships with other organizations. On June 9, it announced a deal with UK-based Fetch.ai, applying machine learning to intelligent technology. With other ongoing partnerships, IOTA appears to be well-positioned to grow in the future.
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