Alt season is heating up. Between Bitcoin flirting with its all-time high of over $70k to an Ethereum exchange-traded fund (ETF) dropping anytime now, alt season is ready to break out. And the best way to prepare is to pick out cryptos to buy before it’s here.
While you could invest in projects that could rally for no discernible reason (looking at you, meme coins), your safest bet would be coins that have actual fundamentals.
And though all cryptos have wild swings, projects with real use cases tend to be slower but surer, which makes sense if you don’t want your money swallowed up in some flash-in-the-pan crypto.
For this edition of cryptos to buy, we scouted out three picks that could be great additions to your portfolio this June.
Cryptos to Buy Before They Go to the Moon: Uniswap (UNI)
Uniswap (UNI-USD) is a decentralized exchange (DEX) and decentralized finance (DeFi) platform based on Ethereum (ETH-USD). It’s the most successful DEX and also the largest by trading volume and total value locked (TVL) — which is the amount of money staked on a DeFi platform.
On a day like this in 2023, the Uniswap token was trading at about $4. At the moment, it’s going for about $10. That’s a jump of 150% year on year.
You’ll also notice that during March, UNI consolidated at around $14 for several consecutive days. Eagle-eyed investors who got in last year when the token was trading under $5 saw returns of 2.5x during that window.
Now, the token’s price could rise even higher after a scheduled protocol upgrade. Though the Uniswap Foundation postponed the vote on the upgrade on May 31, the price will likely rally once it’s on track.
All indications point to Uniswap’s price only going up from here, and that marks it out as one of the most promising cryptos to buy this June.
Cardano (ADA-USD)
Most cryptocurrencies have added this year, but not Cardano (ADA-USD), which has dropped 30% year-to-date (YTD). It’s hard to tell the cause for the drop, but it could be because the smart contract’s platform has stayed in the shadow of its fellow so-called “Ethereum killer” Solana (SOL-USD). Solana, renowned for its ultrafast speed, has added 45% YTD.
However, ADA investors are hoping things will begin looking up this month when Cardano undergoes a hard fork to launch its last development phase: Voltaire.
The Voltaire era will grant Cardano users and stakeholders voting rights to participate in governance and help determine the platform’s future. Voltaire will also introduce a treasury to fund development proposals.
In crypto, protocol upgrades tend to be accompanied by a rally in price. There’s no telling for sure if Cardano will sustain favorable price behavior after the upgrade, but if you’re looking for a crypto to buy this June, Cardano might just make the cut.
Aave (AAVE-USD)
It looks like Aave (AAVE-USD) is another crypto likely to witness a bullish breakout thanks to an ecosystem upgrade.
In May, cofounder Stani Kulechov confirmed in a repost on X that “Aave Network is planned to come after V4,” which means a second layer built on Ethereum is in the pipeline.
Already, Aave Labs has laid out a proposal for V4. V4 is a development proposal that would roll out several ambitious implementations. They include “enhancing modularity, reducing governance overhead and optimizing capital efficiency.” The V4 upgrade is projected to come to fruition by the middle of next year.
As you can see, Aave has several network upgrades in the works, which augurs well for its near future price trajectory. It also certainly helps that it has the clout of being in the top three of the biggest crypto lending platforms, with $10.5 billion in TVL. AAVE is hands down one of the best cryptos to buy this season.
On the date of publication, Hope Mutie did not have (either directly or indirectly) any positions in the coins mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com’s Publishing Guidelines.
