Top 5 Cryptocurrency to Watch in June 2023

Cryptocurrencies have become a gold mine where people go to invest, buy and trade different digital coins. However, the market has experienced an up-and-down motion over time which has caused investors to keep keen eyes on the market so as not to make a wrong investment.  

In the crypto space, not all coins are worth investing in. Despite having different cryptocurrencies there are some crypto coins that will remain stagnant at a certain level,  while others take a boost when there's a sudden move in the market.

With this in mind, Investingport has brought out 5 cryptocurrencies you should watch this June. They have lots of opportunities to make one a self-made millionaire if invested properly

Without further ado, let's take a look at the rankings of cryptocurrency worth investing in June 2023.

1. Bitcoin (BTC)

Bitcoin, the original cryptocurrency, was created in 2009 by Satoshi Nakamoto. Bitcoin is the most protected cryptocurrency in the world as it runs on a blockchain or what we call a ledger logging transactions which is distributed across thousands of computers making it very hard for fraudsters to operate.  

Although the cryptocurrency has experienced falls and rises over time in the past, this did not stop the cryptocurrency from growing. It is currently the most sold cryptocurrency with a price of around $27,978 far from the $500 it's sold as of May 2016. The growth is calculated to be 5,496% and it's expected to rise as the crypto market gets intense—so this is one coin to invest in before it goes up again.

2. Ethereum (ETH)

Ethereum which is known as a cryptocurrency and a blockchain platform is considered one of the best cryptocurrencies for investors. In the past, Ethereum has experienced significant groups. In April 2016, Ethereum cost about $11 and now it costs around $1,915. The growth is calculated to be 17307%.

3. Tether (USDT)

Tether (USDT) is a stablecoin, which means it is backed by physical currencies such as US dollars and the Euro which maintains an amount equal to one of those currencies. In general, this implies Tether's value should be more stable compared to other cryptocurrencies, and it's preferred by investors who are scared of other coins' high volatility.

4. Binance Coin (BNB)

Binance Coin (BNB) is also a type of cryptocurrency that is mainly used in bananas which is known as the largest cryptocurrency exchanges in the world. Since the inception of the company in 2017 and has expanded beyond its initial purpose of facilitating trade on just the Binance platform. Currently on the platform users can trade process payments and even book for trip reservations. The exciting part of Binance Coin (BNB) is that it can be exchanged to all cryptocurrencies such as bitcoin or ethereum via trading or exchanging.

5. U.S. Dollar Coin (USDC)

USD Coin (USDC) is a stablecoin just like Tether making it backed by U.S. dollars and shoots at 1 USD to 1 USDC ratio. The coin is powered by Ethereum and with the USD Coin (USDC) you can complete transactions globally.

Further Research

The bitcoin market recorded its second poor performance in May 2023. The projected change is the outcome of US legislators' decision to boost the government's capacity to issue more debt, which will put pressure on risky investments.

The loss of the Treasury General Account is cause for concern since it will require the issuance of debt by the US Treasury to replenish it. This procedure will remove liquidity from the market and return it to the government's account. Meanwhile, the market may face further problems as a result of the Federal Reserve's quantitative tightening initiatives and potential liquidity issues induced by the debt ceiling resolution bill.

Bitcoin, the main cryptocurrency, had a negative performance, and other cryptocurrencies followed suit. It was traded for $29,268.81 at the start of the month and had reduced to $27,245.00 by the end of the month, representing a decline of 26.92%.

The bitcoin market capitalization fell by 4.24% in May, starting at $1.18 trillion and finishing at $1.13 trillion. During the month, the cryptocurrency's market capitalization reached a high of $1.22 trillion.

The Altcoin market fell by 2.92% in May, falling from roughly $627.50 billion to its current value of $609.20 billion. During the month, the altcoin market capitalization peaked at $648 billion. There are lots of Cryptocurrency jobs out there. Although many are facing layoffs in the crypto world, some tech-crypto companies are still hiring.