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5 Altcoins with the Highest Open Interest: June Edition 5 Altcoins with the Highest Open Interest: June Edition
THE cryptocurrencies Ethereum (ETH), Solana (SOL), Binance (BNB), XRP, and Toncoin (TON) saw a notable increase in open interest in June. Their growing interest suggests that they could offer promising returns next month. Given their strong performance and growing investor interest, they are among the top performers altcoins to buy for those looking to capitalize on potential market gains.
1. Ethereum (ETH)
Ethereum (ETH), a decentralized blockchain system, hosts its native cryptocurrency, Ether. It is a hub for various other digital currencies and enables the operation of standalone smart contracts. Initially proposed in a white paper by Vitalik Buterin in 2013, Ethereum came to life following a public sale event in 2014.
Ethereum Price Chart
Currently, Ether ETH is valued at $3,384, with a trading volume exceeding $11.47 billion over the past day. Despite a slight decline of 1.39% over the past 24 hours, Ethereum remains the second-largest cryptocurrency, with a market cap of $406 billion. In a spectacular surge, ETH’s value has soared by over 82% recently, alongside a notable increase in market interest.
2. Solana (SOL)
Solana (SOL) continues to lead the way in blockchain innovation, particularly in the decentralized finance (DeFi) sector. Its architecture is optimized for building decentralized applications (DApps), leveraging a combined proof-of-history (PoH) and proof-of-stake (PoS) model to increase transaction speeds.
Currently, Solana Price stands at $141, down 2% over the past day. Despite this, over the past year, SOL has surged 736%. This data, sourced from defilLIema, highlights the strength of its network, as evidenced by the increase in total value locked (TVL) and active DApp usage.
Year-to-date growth in open interest highlights Solana’s strong position in the competitive top-tier crypto space. He is now a key figure in the growing altcoin market, as noted in “The Highest Open Interest: June Edition.”
3. Binance (BNB)
Binance (BNB), the world’s leading cryptocurrency exchange by daily trading volume, aims to revolutionize global finance with its expansive offerings. The name “Binance” blends the concepts of “Binary” and “Finance,” reflecting its innovative approach to financial markets.
The Binance ecosystem extends far beyond its exchange platform. It includes Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and various research initiatives. Each element uses blockchain technology to redefine finance in the digital age. Binance Coin (BNB) is essential to the smooth running of these services.
In June, Binance had the highest open interest in altcoins, with a staggering $18.70 billion. Today, the price of BNB stands at $569, a slight decrease of 0.91% in the last 24 hours. Despite this,
BNB remains the fourth largest cryptocurrency by market capitalization, now reaching $84 billion.
4.XRP
XRP operates on a decentralized and scalable platform known for fast and profitable transactions. This open source cryptocurrency also has a minimal environmental footprint. Despite ongoing legal battles, including a major case involving alleged illegal securities offerings, XRP-associated Ripple Labs is prioritizing compliance and innovation.
The value of XRP XRP has been dropping recently amid a broader market pullback. Its price has dropped more than 10% in the past month, with another 8% drop this week alone. Currently, XRP is trading at $0.4755, continuing its downward trend. It is ranked seventh on CoinMarketCap, with a market cap of around $26 billion.
5. Toncoin (TON)
Toncoin, created by Telegram, is making waves thanks to its advanced Layer 1 blockchain technology. The platform stands out for its scalability and ease of use, attracting a large user base. It offers fast transaction speeds and low fees, which adds to its appeal.
Toncoin Price Chart
Toncoin’s price currently stands at $7.53, which is down 2% over the past day. It is the eighth-ranked cryptocurrency on CoinMarketCapwith a market capitalization of $18.52 billion. Over the past year, Toncoin’s value has soared by 447%, highlighting its dynamic growth and growing market interest.
Conclusion
As open interest increases for Ethereum, Solana, Binance, XRP, and Toncoin, investors should keep an eye on these digital assets. Their growth potential in July could be substantial, making them attractive options for portfolio diversification.
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