A spectacular increase in the demand for altcoins in the year 2021 and in the present comes as no big a surprise. As more people are inclined towards alternate sources of income, the cryptocurrency market has seen demand like never before. Though Bitcoin has always managed to draw eyeballs from everywhere around, there are other cryptocurrencies as well that stand the potential to make it into your investment portfolio. All other cryptocurrencies apart from Bitcoin are referred to as altcoins. Now that a good number of big players in the market are showing keen interest in altcoins, it makes every possible sense to have a look at the top 3 Altcoins for June 2022 and Beyond.
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Now without further ado, let's get straight to the point.
#1: Kadena (KDA)
The first Altcoin project we are going to see in this video is Kadena.
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 promises industrial scalability that can support global financial systems and can be scaled as necessary. It also vows to remain energy-efficient at scale and deliver more transactions with the same energy input, another difference to Bitcoin. Moreover, Kadena offers crypto gas stations, which allow businesses to pay for their customers' gas fees and remove a massive pain point in adopting blockchains for business. We believe in the potential of this Altcoin because it has already proven itself, and the team behind the project has not stopped working so far. They continue to go from project to project.
One of the reasons there is so much hype behind Kadena is because they have already partnered with some big names in the cryptocurrency world. They’ve already announced future collaborations with Celo, Cosmos, Ledger, and Polkadot to name a few, and they’ve got a platform in development for NFTs, which are all the rage.
So, Should You Invest in Kadena?
This is a tough one. Kadena certainly seems like the project that has all the answers, and it truly could be the blockchain of the future. The problem? Well, Kadena is just too new, and many of its aspects remain untested.
Not to mention that competition in the cryptocurrency space is fierce, and Kadena has picked two of the biggest blockchains to rival. If they truly have a superior project, they probably will be able to surpass Bitcoin and Ethereum someday, especially because they seem to have more real-world application.
Kadena was launched in June 2020 at $0.33. And by November 2021, it was already at $25. Which is absolutely insane. Over 75X in almost 1 year.
For now, the bears are controlling the price action, the critical support level is at $2, and if the price breaks this support level again, it could be the start of a more significant rise. And that is what is about to happen. That's why Kadena is your first altcoin project for June 2022.
The next project is one of the most promising on our list, it is called Astar.
Astar Network is a DApp hub powered by Polkadot that supports Ethereum, WebAssembly, and Layer 2 solutions such as ZK-Rollups. Astar's goal is to become a multichain smart contract platform that can run on multiple blockchains and virtual machines. The Polkadot relay chain is not designed to support smart contracts, providing an opportunity for Astar to take the lead.
A DApp developer’s most important requirement is scalability. The Astar Network allows developers to create any application they want without worrying about scalability.
The native token of Astar Network, ASTR is used for governance and staking. After being listed on CoinMarketCap at $0.16, the ASTR token reached an all-time low of $0.08 on Jan. 26, 2022. It’s currently trading at $0.06 per token.
You will have understood it. This project did not perform well, it was launched at the wrong time; in the Bear market.
But it's an undervalued altcoin.
Astar (ASTR) is a good investment in 2022. However, ASTR has a high possibility of reaching new heights this year.
It's very much possible that ASTr might reach $0.5 soon, as per the current bullish trend.
With upcoming, partnerships, and developments reaching $0.5 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
Before we move on to the next project, be sure to like and share this video if you haven't yet.
Our next project is Mina.
So, we've already talked about it in many other videos on this channel.
Many cryptocurrencies spiked to a new all-time during this 2021 bull run. In contrast, some crypto also faced a downtrend position. As a result, many crypto traders are worried about whether it is time to hold or sell their crypto. This is also the same case that traders are experiencing in Mina Protocol. However, MINA is one of the newcomers into the market that has given its investors over 240% returns in the past eight months.
There are a lot of benefits gained when you utilize the Mina Protocol. For one, the platform provides developers with a streamlined way to execute Dapp functionality. The Mina Protocol was built from the ground up with the goal to curtail computational requirements in order to run Dapps more efficiently.
MINA is the main utility and governance token for the network. Users can send value globally utilizing this token. You can stake MINA and secure passive rewards on the network. Notably, the token was launched with an initial supply of 1 billion tokens and no maximum supply. The system is designed to allow an annual inflation rate of 12%. Keenly, this will drop to 7% after two years.
So, If you are wondering if Mina is a good investment?
Well, in our opinion Yes, Mina Protocol is a good investment as it is one of the most advanced blockchains with strong fundamentals. Mina price predictions show that MINA/USD will be a very profitable investment for the long term.
Mina is working on achieving an efficient distributed payment system that enables users to natively verify the platform right from the genesis block.
The graphs show that Mina is slightly up.
If this bullish trend continues, Mina Protocol will reach $6.22 by the end of 2022. With upcoming, partnerships, and developments reaching $10 is quite optimistic in the price point of view but undoubtedly feasible for the near future.
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