The market is finally on the verge of the decade’s most significant bull run, following a string of bullish events that included the Bitcoin halving, BTC’s new all-time high, and the approval of Ethereum and Bitcoin ETFs.

With such an outlook pervading the market, traders are left wondering, “What is the best crypto to buy now in June 2024?”

Let’s find out here!

Read the blog until the end to check out the top picks of June.

5 Best Cryptos to Buy Now in June 2024

#1 Ethereum (ETH)

Ethereum is an open-source, decentralized blockchain platform that allows the building and execution of smart contracts. Vitalik Buterin first proposed it in late 2013 and finally launched in 2015. It also serves as a platform for developers to build Decentralized Applications (DApps) and deploy smart contracts, which are actually self-executing contracts with predefined rules and conditions.

ETH is the native token of the Ethereum network, which is used to reward participants for computational efforts in executing smart contracts and as a means of value transfer within the Ethereum ecosystem.

Why Ethereum?

With the SEC’s approval of Ethereum ETFs, ETH is emerging as the most compelling crypto asset to watch in June 2024. Reports of the SEC’s move to approve 19b-4 filings from exchanges aiming to list Ethereum ETFs sparked a substantial rally, driving ETH prices to around $3,900.

Currently, ETH boasts a 21.5% gain against the US dollar over the past 30 days. Despite the rally stabilizing between $3,700 and $3,850, the market’s response to the actual launch of Ethereum ETFs will likely dictate future trends.

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Relatable Read: How to Buy Ethereum (ETH) In India? [2024]

#2 Solana (SOL)

Founded in 2017 as an open-source project, Solana is a Layer-1 blockchain platform designed to host decentralized, scalable applications. SOL, the crypto that runs on the Solana blockchain, soared as high as 12,000% in 2021. It has a market capitalization of over $79,565,041,623 and ranks 5th in the list of largest cryptos.

Solana is a Proof-of-Stake (PoS) blockchain that uses another consensus mechanism, Proof-of-History (PoH), in combination with PoS. The PoH consensus is proof for verifying order and the passage of time between instances. It also encodes a trustless passage of time into a ledger.

Why Solana?

Given its recent bullish developments and ongoing ecosystem growth, Solana is an excellent crypto to buy in June 2024.

A notable advancement is the integration of Solana with LayerZero, a leading blockchain interoperability protocol. This enables the seamless transfer of crypto assets and data between Solana and seven other blockchain networks, including Ethereum and Polygon.

Additionally, PayPal is launching its PayPal USD stablecoin on Solana, highlighting the network’s fast transactions and low costs, which it deems “ideal for commerce.”

These developments underscore Solana’s increasing utility and potential for significant market impact, making it a compelling investment choice.

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Relatable Read: How To Buy Solana (SOL) In India? [2024]

#3 Uniswap (UNI)

Uniswap is a well-known decentralized trading protocol that helps automate the trading of Decentralized Finance (DeFi) tokens. UNI, the governance token of the Uniswap platform, also allows users to vote on crucial protocol improvements and is, hence, one of the largest cryptos in market capitalization.

Uniswap, launched in November 2018, was one of the first DeFi services to acquire considerable momentum on Ethereum. Many other Decentralized Exchanges (DEX) have since been launched, but Uniswap has always been the most popular by a notable margin.

Why Uniswap?

Uniswap stands out as a top crypto to buy in June 2024 due to recent developments that could significantly benefit UNI token holders.

The Uniswap Foundation has proposed using the protocol’s fee mechanism to reward those who stake and delegate their UNI tokens, aiming to foster “active, engaged, and thoughtful delegation” in governance. If approved by the community, the proposal would enable automatic and unrestricted fee collection, distributing these fees to staked token holders.

The market reacted positively, with UNI’s price soaring from $7.16 to $12.27 (+71%) shortly after the proposal’s release. Although there has been a price correction, UNI remains strong at $11.15, well above its pre-spike levels.

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#4 Toncoin (TON)

Toncoin, commonly denoted as TON, serves as the inherent digital currency for a decentralized Layer-1 blockchain that originated from the endeavors of the well-known messaging platform Telegram in 2018. Initially launched as the “Telegram Open Network,” the project underwent a transformation when Telegram disengaged from its involvement. Subsequently, the TON Foundation, an enthusiastic and autonomous community, assumed leadership, rebranding the initiative as “The Open Network.” The native cryptocurrency within this network, Toncoin (TON), was formerly recognized as Gram.

Why Toncoin?

Toncoin is a standout crypto to buy in June 2024, bolstered by significant recent developments. The TON Foundation’s collaboration with mobile payment app Oobit has integrated Toncoin into Oobit’s platform, enabling TON payments at tens of millions of retailers worldwide. This integration enhances the utility of the $200 million in USDT, which was recently issued on the TON Blockchain, facilitating direct message payments on Telegram and instant crypto tap payments through Oobit.

Despite the initial selling pressure on Notcoin (NOT) following its listings on leading crypto exchanges, Toncoin’s expanding ecosystem and increased usability make it an attractive investment opportunity.

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Relatable Read: How To Buy Toncoin (TON) In India? [2024]

#5 Ripple (XRP)

Ripple is the creator of the open-source distributed ledger known as XRP. Compared to the distributed blockchain utilized by Bitcoin (BTC) and its Proof-of-Work mining mechanism, XRP transactions are handled by a network of dependable validators on the XRP Ledger.

Ripple records transactions for public viewing on its open-source distributed consensus ledger, which resembles a blockchain in that each new data block contains the previous block’s hash. However, its consensus method differs from that of Ethereum and Bitcoin. Since it doesn’t rely on Proof-of-Work (PoW), mining XRP is not necessary.

Why Ripple? 

XRP is a prime crypto to buy in June 2024, driven by significant advancements from US fintech firm Ripple.

Ripple announced the launch of a dollar-pegged stablecoin on both the XRP Ledger and Ethereum platforms. It is backed fully by USD deposits, US government treasuries, and other cash equivalents. Ripple will provide monthly attestations from a third-party accounting firm to ensure transparency.

Ripple’s CTO, David Schwartz, hailed the stablecoin as a “gamechanger” for users and developers. This stablecoin could boost liquidity on the XRP Ledger’s decentralized exchange and introduce new use cases, enhancing XRP’s value as an asset.

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Relatable Read: How To Buy Ripple (XRP) In India? [2024]

Bottomline

The best crypto to buy in June depends largely on your risk profile and investment goals. For those interested in long-term potential, established cryptos like BTC and ETH are likely suitable choices. But, if you have a higher risk tolerance, you might consider investing in altcoins.

Remember, the crypto market remains highly volatile, and investing in it carries significant risk. Always do your own research and assess your financial situation before making any investment, and never invest more than you are prepared to lose.

Disclaimer: Cryptocurrency is not a legal tender and is currently unregulated. Kindly ensure that you undertake sufficient risk assessment when trading cryptocurrencies as they are often subject to high price volatility. The information provided in this section doesn't represent any investment advice or WazirX's official position. WazirX reserves the right in its sole discretion to amend or change this blog post at any time and for any reasons without prior notice.