June 2, 2021
STELLAR (XLM)
Current price: $0.419
Market capitalization: $9,641 billion
Market Cap Rating: #16
XLM is the native token of the Stellar platform. Originally based on the Ripple protocol, it was created in June 2016 by Jed McCaleb, who recently left Ripple.
Its goal is to promote financial inclusion in territories without financial institutions. In addition, it helps companies connect with each other through the use of its technology.
It is also known for its small, fixed fees of 0.0001 XLM.
The Stellar network will soon update to Protocol 17. On June 1, there was a public vote to upgrade the network. There will be many updates, such as Stellar Core v.17.0 and Horizon v.2.3.0.
XLM has dropped significantly from its May 16 high at $0.798, which is currently 46% lower. However, it bounced up at $0.35 region, creating two long lower wicks, which is a sign of buying pressure.
ICON (ICX)
Current price: $1.11
Market capitalization: $700,258 million
Market Cap Rating: #98
ICON is a blockchain protocol for decentralized applications. It focuses on interoperability, which means it supports independent blockchains that work with each other. The network's native cryptocurrency is ICX.
One of the more interesting developments in the ICON platform is EPICX, which is a decentralized trading platform. Its beta version was launched on June 1st.
Furthermore, old ERC-based tokens will be swapped for new tokens on the ICX mainnet on the ICONFi app on June 8.
ICX has plummeted since May 8, down 74.59% in 15 days. This peaked with a low of $0.79 on May 23, just above the 0.78 Fib support.
ETHEREUM (ETH)
Current price: $2,571
Market capitalization: $299.787 billion
Market Cap Rating: #2
Ethereum is a decentralized open source blockchain. The native currency used in the blockchain is ether (ETH). It was officially launched in July 2015 by Vitalik Buterin.
The Ethereum platform also allows for the creation and management of decentralized applications (dApps). To date, more than a thousand dapps have been built on the platform.
Also, as noted with ICX in the previous section, other cryptocurrencies can use their ERC-20 compatibility, to be stored on the ETH blockchain.
ETH activated the Berlin hard fork on April 15. This brings it closer to ETH 2.0. Ahead of the London hard fork in July, three major networks will be tested in June:
Ropsten – June 9
Goerli – June 16
Rinkeby – June 23
ETH has been falling since reaching its all-time high on May 12. However, it bounced at the $2,050 support area on May 23 and created a mộtbullish candlestick the next day.
The nearest resistances are found at $2,750 and $3,050 respectively.
BITTORRENT (BTT)
Current price: $0.00397
Market capitalization: $2.632 billion
Market Cap Rating: #43
BitTorrent is a peer-to-peer file sharing network and torrenting platform. In July 2018, it was purchased by blockchain platform TRON. BTT is a native token, using the TRC standard.
Several dApps are powered by BTT, including BitTorrent Speed and BitTorrent File System.
BTT will hold an airdrop in June. A snapshot for it will be taken on June 10, where all addresses holding BTT will receive a non-fungible token (NFT) airdrop.
BTT has been falling inside a descending wedge since reaching its all-time high, on April 5. The wedge is considered a bullish reversal pattern. Additionally, it bounced up at the $0.0035 support area.
COTI NETWORK (COTI)
Current price: $0.2081
Market capitalization: $140,199 million
Market Cap Rating: #200
COTI is a platform focused on helping organizations build their own payment systems. It claims to be “the ultimate grid of payments”.
Its infrastructure core is Trustchain. Based on machine learning, it is a consensus algorithm that processes over 100,000 transactions per second. COTI outlines seven elements deemed essential for a payments infrastructure:
Ability of extension
Simplicity
Buyer-Seller Protection
Cost effective
Stable price
Instantaneousness
Safe
The end of June will have many interesting developments, as outlined in the roadmap for 2021.
These include, but are not limited to, the release of Paywize, a credit card processing solution, the introduction of margin trading to the platform, and the completion of the integration with longtime partner, Celsius.
COTI has been trading inside a descending parallel channel since March 1. On May 23, it bounced just below the channel's support line and at the 0.786 Fib support. It created a bullish engulfing candle the next day and has been increasing ever since.
Current price: $139.45
Market capitalization: $1.653 billion tỷ
Market Cap Rating: #56
Zcash is a decentralized cryptocurrency with a primary focus on anonymity and privacy. Unlike most other cryptocurrencies, which are nicknamed, ZEC is completely anonymous. This means that it does not reveal the identity and public address of the user.
It does this using the zero-knowledge technology, zk-SNARK. ZEC was released in October 2016.
The Zcon2 Lite conference will be held on June 8-9. This is an annual conference that will focus on the Zcash ecosystem and broader privacy topics. Furthermore, the NU5 testnet will be activated on June 30.
ZEC started falling on May 12 and continued its 11-day downtrend. Of that, it fell 76.30%, culminating with a low of $87.38, on May 23.
It has been increasing since then and is trading in a range of $100 to $200.
Current price: $0.13
Market capitalization: $78,333 million
Market Cap Rating: #473
Dusk Network is a private blockchain for financial applications, with the goal of building a decentralized infrastructure with a focus on security. Dusk Network is a layer one protocol that supports the Confidential Security Contract (XSC) standard and supports secret smart contracts. Dusk Network aims to address the requirements and needs of the financial markets. As such, the focus of its design is on a scalable public infrastructure, direct settlement of transactions, and strict data security.
Dusk network is a leader in security technology and it still aims to do so. So it announced a $5 million grant program to attract the best talent in the field. The first intake of applications began on June 1.
DUSK has been falling since April 9, when it peaked at $0.46. The downtrend continued for 44 days, during which the token lost 81% of its value. It peaked with a low of $0.0842 on May 23.
Then it bounced up and reclaimed the $0.11 area. It was this area that acted as a resistance zone for the entirety of 2020, before the token finally exploded in February 2021.
Current price: $0.666
Market capitalization: $79,057 million
Market Cap Rating: #417
BEAM is a decentralized finance (DeFi) platform that runs using a combination of two blockchain protocols, one of which is the Mimblewimble protocol. It uses a proof-of-work algorithm.
Its goal is to enable financial partners to transact reliably and securely. It supports various custom trading methods, such as time-locked swaps, atomic swaps, and escrow.
The 6.0 hard fork for BEAM will launch on June 5. BEAM has been falling since April 11, when it hit a new all-time high of $2.10.
The downtrend continued for 42 days, leading to a low of $0.256 on May 24. This number is down 78%. The main support and resistance levels were found at $0.52 and $0.96 respectively.
ORION PROTOCOL (ORN)
Current price: $7.38
Market Cap: $191,974 million
Market Cap Rating: #245
Orion is a protocol that aims to create a single decentralized platform that includes every centralized and decentralized exchange. The platform is named Orion Terminal and will also add swap pools.
The Orion Liquidity Pool will launch in June, allowing users to monetize their idle assets. In addition, the testing phase of Orion Liquidity Boost Plugin will also start the same month.
ORN has been falling along with a descending resistance line since March 22, it has lost 73% of its value.
On May 19 and May 23, it bounced above the $6.50 support area. However, it has yet to reach the descending resistance line mentioned earlier.
Current price: $0.1022
Market Cap: $8 million
Market Cap Rating: #1138
Argon will be the first blockchain-based freelancer platform, to be launched on Binance Smart Chain. The aim is to eliminate problems arising from trust between two entities. Also, it will charge zero commission. This is possible due to the native currency for the platform, ArgonToken (ARGON). The platform will be launched on June 1.
ARGON has been falling since April 1, when it hit an all-time high of $0.449. Additionally, it declined below the $0.135 support area. The next support area is found at the all-time low of $0.07.
The views and opinions expressed in this article are for informational purposes only and are not investment advice. Every investment and trading move carries risks, you should do your own research before making a decision.