I took some time to do proper research on the best 5 Altcoins for May going to June. Watching endless of YouTube videos, reading articles and keeping up to date with the crypto news I came to the following conclusion. These are in no particular order.
Binance Coin (#BNB)
BNB is currently ranked third in terms of market capitalisation, with a market cap of about 99,578,174,134. In the last twelve months, this coin has increased by two thousand 3713.2 percent. It has started as nothing more than a coin to get trading discounts on finance but now represents the Binance Smart Chain, which is a massive competitor to Ethereum. Binance Smart Chain processes more daily transactions than Ethereum at 3.5 million compared to Ethereum's 1.3 million.
Currently Binance is the world's largest crypto exchange and is filling out the Binance Smart Chain with a growing list of dapps and its decentralised exchange. Binance Smart Chain can be a good place for crypto projects that want cheap fees and also somewhere to list their coins to raise capital. Being a holder of BNB gives you a big variety of staking and investment opportunities as an investors.
Chainlink (#LINK)
LINK has reached a crossroad. We are currently putting the most important resistance line in its history to the test. This resistance line dates back to June of 2019, and we are checking it again today, in the year 2021. With Bitcoin crashing, Ethereum soaring, and Dogecoin rising to become the fourth most valuable cryptocurrency, it's time for Chainlink to make its jump.
It has climbed by approximately thirty percent to about forty dollars where it is now. If it can break through this resistance level of forty dollars with enough investor conviction and buying pressure, it will boom. Chainlink will see a huge price catalyst in the future as Oracle NFTs become extremely valuable.
Chainlink is expected to reach 50 in the future as the space expands through the future of NFT's and as the NFT space recovers from its recent slump. When it surpasses the 50-point mark, people will begin to take Chainlink seriously and begin fomo buying.
Chainlink links to almost every other project, and it's only getting better by the day, with more projects being added all the time. When the hype returns to Chainlink, it will be properly priced. Chain link is going to have a monster ride, in my opinion.
Solana (#SOL)
Solana is able to build crypto apps that scale and it is a fast, secure and censorship resistant blockchain, providing the open infrastructure required for global adoption. In other words it is a blockchain. The same as the Bitcoin or Ethereum blockchains. Solana, in my view, is vastly under appreciated.
The average transaction fee and the time for a transaction with Solana is a lot less than Ethereum's. That's why the gas fees of Ethereum are so high.
Solana is currently sitting at $43.85, at just 2.4% percent decrease in last 24 hours, it has a market cap of $11,954,375,049 of $548,325,594 worth trading in the last 24 hours. The price has gone down but the volume has been up in the last 24 hours. This is a good sign, because it's starting to get enough volume for a potential outbreak. This also shows that Solana still has a lot of potential ahead of it. It first launched in around April 2019, so it's just over a year old. It started trading at around 70 cents. In other words it 100 x already in its lifetime.
So if at a market cap of 12 billion, where does that compare to some other cryptos?
It is currently ranked 16th in terms of coin market cap for the whole market. It's not yet at the top 10, but it could certainly peak into top 10 sometime this year. Vechain has got a similar market cap at 12 billion and it has been on a huge run recently . So where can Solana push itself?
There are huge things coming out for Solana, as it starts to form more partnerships and as crypto starts to take off, I think that it can easily do around about a 4-5X within the next couple of months. 4X would put it at a price tag of around about 50 billion market cap or $200. Solana is going to be one of those tokens that is going to be very, very valuable in the future , the same as Cardano. Buying Solana right now at $44 is a very good investment. Solana is very underrated, but that's one of the most important things in finding these crypto gems. You have to find them before they reach their peak. Solana is also a long term investment for those who are interested.
Cardano (#ADA)
Currently at number 7 in the market cap rankings down from its previous ranking at number 3. Cardano had a huge move from about 25 cents to one dollar earlier this year. They are in the process of rolling out the smart contracts functionality and it is in the test net phase right now. This means that over the next six months there will be a huge amount of news and new projects and milestones that should give investors opportunities to trade.
Cardano also just invested 500 000 US dollars in a project called Coti, which will be used to launch stable coins and payments on Cardano.
Coti is a blockchain designed explicitly for payments. Most cryptocurrencies don't have a lot to do with actual payments for goods and services. Bitcoin is more like a store of value. Ethereum is a smart contracts blockchain. In the future it seems that eventually blockchains will be used for retail payments for everyday items due to their low cost and security benefits.
Coti aims to be first and foremost a blockchain for retail-based payment systems. The close relationship with Cardano is obvious. They want to be an actual modern financial system which will give the ability for users to pay for retail items using Cardano as the ledger. Teaming up with Coti could therefore add this functionality to Cardano in the future. Cardano is looking to add clients in the form of governments and large institutions. This also includes various countries ranging from the African Continent to South America. Coti is still small, at number 214 in the crypto rankings, but any solid growth in Cardano could give Coti a significant boost.
Polygon (#MATIC)
Previously named as Matic and recently rebranded to Polygon. It still goes by the name Matic, which is
an Ethereum based token. Polygon's goal is to solve a lot of the ongoing issues on Ethereum like scalability, interoperability with other blockchains, sovereignty and the insane Ethereum gas fees.
There's over 50 billion dollars locked up in Defi. Most of this is locked up in dapps built on Ethereum. Sending some Ethereum from one wallet to another can cost like forty dollars or even more. Imagine how much larger this would be if there was a way to scale up Ethereum, to process more transactions and also lower the gas fees.Polygon aims to do this with their protocol called Decentraland.
This is a blockchain based virtual world, with virtual land, NFTS and games. Launched on that portal with polygon to bypass high gas fees on Ethereum. As long as Ethereum gas fees and network scaling issues remain, then protocols that fix this will thrive. This could unlock billions of dollars of investments and trade.
Final Thoughts
When it comes to market cap, Altcoins are risky, so please note that these have the potential to go down way faster than they go up. It's advised to invest in bear markets and employ dollar cost averaging on your investments over the longer term.
Disclosure:
I’m not a financial advisor, nothing in this article should be considered as financial advice. Everything mentioned is for educational and information purposes only.