Here is a list of the best-performing altcoins of the last thirty days. All the five assets mentioned below belong to the top-500 crypto category. They are ranked based on their price performance, stability, and market cap.
What you'll learn 👉
5 Best Performing Altcoins this Month
1. Maker (MKR)
Maker secures the first place on the list, with a 13.76% price rise in the last thirty days. While many cryptocurrencies have outperformed Maker in the top-500 and top-1000 categories, Maker has bagged the highest returns for investors in the top-100 category.
Maker 1-month price overview, 20 June 2023, CoinMarketCap
The MKR price has been on a long-term downtrend since hitting its all-time high of $6292 on May 3, 2021. On January 3, 2023, Maker saw its recent rock bottom at $502. But things started looking up over the next few months, taking the price to $948 at one point, on 6 March 23.
Needless to say, the passive-aggressive market has not been generous to Maker, either, during April and May. However, Maker has been getting back on its feet in June, with the price climbing to $709.90 at the time of this writing. It has broken through the resistance at $653 and $683 to reach the current price.
That comes as a pleasant surprise to the market, which has been embroiled in SEC’s anti-crypto actions over the last few days.
The road ahead
The next resistance for Maker is at $726. If it manages to successfully smash past the barrier, more returns await investors who mark their entry points now. But the possibility of Maker making it through the next barrier at $802 is slim.
In the event Maker gives into larger market pressure, a cascade of sell-offs will take it to long-term support at $615.
2. XRP (XRP)
The next cryptocurrency that has bucked the largely bearish trend this month is XRP. The credit for the upturn goes to the excitement around the unsealing of Hinman documents. In the days that led up to the release of the documents, it was highly speculated that they will hint at the long-pending victory of XRP in the SEC lawsuit.
The coin price took a steep hike to $0.56 at one point amid the momentum.
XRP 1-month price overview, 20 June 2023, CoinMarketCap
The notes in the documents, however, suggested that the editors were concerned about Hinman’s statement that Ether is not a security. According to Ripple CEO Brad Garlinghouse, the SEC “knowingly created confusion about the rules, and they used that confusion through enforcement.”
Trying something new – some thoughts from me on the events (specifically the release of the Hinman documents) of this week. For me, this has all had a personal bent to it – and felt like it warranted some personal comments. pic.twitter.com/k4dYeQGhsN— Brad Garlinghouse (@bgarlinghouse) June 16, 2023
He criticized the SEC’s actions as a clear case of “bad faith, plain and simple“ and went on to argue that SEC’s anti-crypto attitude has been visible from the very beginning of the lawsuit against Ripple, which was initially filed in December 2020.
“This is the definition of putting politics over people.. and the pursuit of power over sound policy,” Garlinghouse noted.
The road ahead
As expected, the XRP price has been on a decline since the initial euphoria died down. With broader market support, XRP has the potential to aim for $0.6 again this month.
3. Flex (FLEX)
FLEX has climbed 177.54% in the last thirty days and maintains a market cap of $262M at the time of this writing. That says enough.
Flex 1-month price overview, 20 June 2023, CoinMarketCap
FLEX is the native coin of CoinFLEX, a physically settled futures exchange. The asset’s uptrend can be attributed to the release of a whitepaper for its new ‘OX’ governance token. Its goal is to solve “major problems with traditional exchange token models.”
“Fixed discount models only incentivize short-term holding for fees— while high minimum volume/holding bands are only accessible to whales & require constant adjustment, causing confusion,” states the firm.
The token will use a “Stake To Trade For Free” rebate model that allows investors to lock up OX tokens and trade freely on the platform.
The road ahead
The recent performance of FLEX, however, has been largely disappointing with a 24hVolume/Market cap of just 0.52%. That hints at the bumpy road ahead for the token.
4. Akash Network (AKT)
Akash Network is another gainer on the top-500 crypto chart. The project has managed to give 85% returns to investors over the last thirty days. Much of its popularity can be attributed to its emergence as a top competitor to Filecoin.
Akash Network 1-month price overview, 20 June 2023, CoinMarketCap
Akash Network introduces a decentralized cloud computing platform that utilizes blockchain technology to offer a more cost-effective, efficient, and secure solution for hosting and expanding decentralized applications. Its ecosystem and governance rely on its native cryptocurrency called AKT.
One of the key highlights of Akash’s tokenomics is its staking mechanism, which encourages users to hold and stake AKT. This participation in staking allows users to not only engage in network governance, but also earn rewards. It plays a crucial role in securing the network and contributes to the long-term value appreciation of AKT.
The road ahead
With the momentum slowly dying, the token is unlikely to sustain its value in the coming days. The price correction has already begun.
5. Dione Protocol (DIONE)
Dione Protocol is one of the few tokens that have made the most of this Summer. Despite the larger market downturn, DIONE has been on a wildly bullish run.
Dione Protocol 1-month price overview, 20 June 2023, CoinMarketCap
The road ahead
The coin has more steam left, till it hits the resistance at $0.004625.
Prediction: Which Altcoins Will Perform the Best Next Month?
Here is a list of the altcoins that have the highest chance of giving excellent returns to investors in the next thirty days. They are ranked based on their market cap, growth potential, and stability, among other factors.
1. Ethereum (ETH)
Ethereum had a rocky start to the month. But it is getting back on its feet with a 6% price gain on the weekly chart. The upturn has to do with the emergence of a new “Ethscriptions” protocol that has the potential to kindle volatile ETH price movements in the coming weeks.
Introducing Ethscriptions: a new way of creating and sharing digital artifacts on Ethereum using transaction calldata.https://t.co/XfQ7RdtblD— Middlemarch (@dumbnamenumbers) June 16, 2023
ALSO: Introducing Ethereum Punks. Because why should all non-contract Punk collecting happen on Bitcoin?https://t.co/d3Ycwbdc2Z…
Ethscriptions is an Ethereum-native Ordinals protocol that enables non-financial and arbitrary data to be written into the main Ethereum blockchain. Although the protocol currently only allows images, it will enable the inscription of other file types under 96 kilobytes in the near future.
Ethereum 1-month price overview, 20 June 2023, CoinMarketCap
The launch of Ethscriptions was welcomed with open arms and saw early users create more than 30,000 inscriptions in the first 18 hours. It led to an increase in ETH transaction volumes, as expected.
According to industry analysts, Ethscriptions has the potential to further fuel ETH transaction volumes and fees, leading to a 15-20% price hike for the coin.
2. Wall Street Memes (WSM)
In just a few weeks since its entry into the presale market, Wall Street Memes Token (WSM) has swiftly gained popularity within the crypto community. It is on its way to the $9M milestone at the time of this writing.
The presale momentum is kindled by long-term holders of meme coins like DOGE and SHIB, which have largely been lukewarm this year and have reached a point of saturation.
Wall Street Memes, widely predicted to be the next Pepe, is backed by a 1M+ strong crypto community of the same name. The team made its entry into the NFT space by launching its debut collection called Wall St Bulls on the Ethereum blockchain in 2021. Within a mere 32 minutes, all the NFTs in the collection were sold out, indicating the strong foothold of the community.
Now, in 2023, the team has returned to the cryptocurrency market with a new offering—a community-powered meme coin designed to provide early investors with the opportunity to build “generational wealth.”
The growing interest in Wall Street Memes’ stems from its ability to go viral and the immense power of its global community. Well, the involvement of Elon Musk could be a reason too.
Despite having no utility, WSM shows its long-term relevance by setting aside an impressive 30% of the total token supply for community rewards.
While the token launch of $WSM is scheduled for Q4, the growing presale momentum hints that it could go live much earlier. A modestly realistic price prediction for the volatile meme coin on its release is 10X – 15X. But depending on the broader market environment, it can go anywhere up to 50X.
3. yPredict (YPRED)
yPredict (YPRED) presale has been building a lot of buzz in recent days, thanks to the growing excitement around its all-in-one AI ecosystem that aims to reintroduce the statistical edge to crypto trading. yPredict has a cutting-edge AI-based marketplace for crypto price predictive models, developed by industry-leading AI experts, quants, and analysts, in the offing.
In a market saturated with bots and algorithms, which are sometimes accused of being manipulative, crypto traders are actively seeking reliable tools and yPredict provides them with a robust solution. Listed below are just a few of the key highlights of the platform:
- AI Signals: Real-time trading signals from cutting-edge predictive models created by the top 1% of AI experts.
- Sentiment Analysis: Real-time analysis of the sentiment surrounding popular crypto coins.
- AI-powered Technical Analysis: Utilizing AI to identify the most effective indicators for your assets.
- Chart Pattern Recognition: AI-driven detection of promising chart patterns for your selected coins, with over 25 patterns recognized.
yPredict is not a hype-driven cryptocurrency like meme coins. However, being an AI-based utility token, it has considerable explosive potential. It can generate anywhere from 10X-15X solid returns in the coming months, if the ecosystem unfolds as planned.
4. Tron (TRX)
A blue-chip cryptocurrency that can bag modest returns in the coming weeks. Tron’s potential price rise can’t be attributed to development updates or milestones, however. The coin’s price has been on a decline since 10 June, which hints at the emergence of positive momentum in the coming two weeks.
Tron is likely to respond positively to a buy-the-dips strategy with an entry point in the coming few days.
5. Launchpad XYZ (LPX)
Launchpad XYZ is another crypto utility token with a vast trove of growth potential in the coming months. It is a Web 3.0 hub that presents a diverse range of crypto projects. The platform’s curated portal showcases both meme coins driven by hype and tokens with practical real-world applications.
The featured assets have the potential to give rapid as well as steady and gradual returns.
Launchpad XYZ distinguishes itself by empowering users to make independent choices, by providing a wealth of data, metrics, and analytics on various digital assets. One key highlight of the platform is the dynamic Launchpad Quotient (LPQ) assigned to each listed asset, which serves as an indicator of the asset’s risk and reward potential. It is determined, factoring in around 400 data points.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com