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Cryptocurrency adoption has grown by leaps and bounds both at the individual and institutional levels. From being on the fringes of the financial ecosystem once, cryptocurrencies have slowly come to be accepted as a viable investment option. Like stocks, millions of traders invest in cryptocurrencies today.
Since markets keep changing their moods and bears and bulls, attempt to pull the price in their direction time and again, it is best to DYOR before you buy any of the best cryptocurrencies in India.
While the crypto market is still reeling under hiked inflation rates and intramural factors, traders can rope in the opportunity to buy cryptocurrencies at a lower price and benefit when prices rise. Below is the list of top six cryptos to buy in India in June 2022:
(Percentages and prices as of 14th June 2022)
1. Bitcoin (BTC)
Bitcoin is the largest cryptocurrency by market cap and dominates almost 45% of the market share. It reached its ATH of $68,000 in November last year but has been on a downslide since then. In June 2022, BTC lost almost 70% of its ATH value and is yet to form a bottom. BTC is currently near its 200-week moving average of $22k, crucial support in its lifetime.
Bitcoin has borne cyclical losses of up to 80% twice and has rebounded to create new highs. Bear markets essentially call out for traders to consider Bitcoin as the best crypto to buy in June.
2. Ethereum (ETH)
The alma mater for all things decentralized, Ethereum successfully underwent its Ropsten upgrade and, in two months or so will shift to the Proof of Stake consensus under its Merge upgrade. The Merge will be a historical event for its extent and scale. Ethereum is also down by almost 70% from its November ATH of $4,800 and is currently floating above the $1.2k mark.
Ethereum continues to be the most preferred platform for hosting dApps and other Defi platforms. The network continues to gather greater acceptance and should be on your list of which crypto to buy in India today.
3. Cardano (ADA)
Cardano is a layer-2 scaling solution to Ethereum that uses the Proof-of-Stake consensus to validate transactions. It is one of the top 10 cryptocurrencies by market cap and should be your choice of crypto to buy in June. Cardano has lost over 80% of its value in the market crash but awaits its upcoming upgrade – the Vasil upgrade – scheduled to happen later this month.
Cardano’s upgrades are followed by massive price spurts, and the speculation and anticipation building around it make it a great choice of crypto to buy in India today.
4. Solana (SOL)
Another layer-1 scaling solution to Ethereum, Solana has recently faced issues such as a series of outages and the infamous wormhole attack. However, despite losing a major chunk of its 2021 ATH, Solana continues to be the top favorite crypto to buy in June among the traders. The investors and the community that backs Solana support it wholeheartedly.
The recent introduction of Chainlink oracles on Solana’s Mainnet has also upped its prospects as viable crypto to buy in India today. Solana is currently trading around $30 and is poised for a rebound sooner and later.
5. Ripple (XRP)
XRP was launched by Ripple labs as a cost-effective and fast way to transfer value via its real-time settlement system. Though XRP cannot be called a blockchain in the truest sense, it is one of the top cryptocurrencies by market cap and also the top crypto to buy in India currently.
It has secured partnerships with over 300 financial institutions in 45 countries, and the SEC lawsuit is nearing an end. The extensive utilities it supports and the community support will surely help XRP rise despite the market slump in the near future.
6. Tron (TRX)
Tron is a decentralized operating system that allows users to create dApps using the platform’s smart contracts. While top cryptocurrencies continue to shed gains in the current market slump, Tron is one of the few cryptos that have gathered value since June 2021.
It has over 67 million user accounts and has facilitated 2.6 billion transactions to date. Another top crypto, TRX, remains the go-to crypto to buy in June.
Trading in cryptocurrencies can be rewarding if done after good research of the market conditions and analyzing the crypto fundamentally and technically.
If you are a trader looking for a cryptocurrency exchange to start your crypto trading journey, head to WazirX and experience the best trading experience in hundreds of cryptocurrencies.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.