Dividend Stocks

7 High-Flying Cryptos That Could Soar Even More in June

High-flying cryptos have been hard to come across in the near term. That’s because many cryptocurrencies have been trading sideways for the past month. And while we may see prices slide further from here, there are still a good deal of high-flying cryptos you can buy. The market could bounce back, just as it did in mid-March. Even if it doesn’t, the following three cryptos are great long-term bets.

Render Token (RNDR-USD)

Source: Chinnapong / Shutterstock

Render Token (RNDR-USD) is used to rent GPU power from the Render Network, a network that pools GPU power from individuals worldwide using the same token as a reward. While it tumbled more than 10% on Monday, it did recover to its current price of $2.40. It was first on my list back in April, and the cryptocurrency still hasn’t disappointed me.

The token remains one of the hottest names this year, up 500% year-to-date. However, I do believe there is a lot of downside risk in this range. If the broader crypto market continues to be bearish, RNDR could drop to $2 per token soon. There is also a chance that the crypto market will pull off a recovery, and RNDR can bounce from a higher range.

Regardless, I put little faith in the technical analysis as it does not work in the long run. Instead, fundamental analysis is what can lead to massive returns over a multi-year timeframe, and the fundamentals of this project are solid. I see the Render Token being “digital fuel,” as the demand for GPU computing could be enormous in the coming years. Many artificial intelligence models require GPU computing power, while the Render Network can also serve the niche but fast-growing graphics design industry. It is still an unknown project, and there is surely more to come.

Ethereum (ETH-USD)

Source: Shutterstock

Ethereum (ETH-USD) has performed more or less on par with Bitcoin (BTC-USD) this year. The one difference is that ETH-USD has shown better resistance to selling pressure recently. That isn’t unusual since Ethereum has constant upgrades and is spearheading Web 3.0 drive. All while historically outperforming Bitcoin in every rally since its inception. After the merge upgrade, it is also a deflationary cryptocurrency, a rarity in the crypto space. Annual supply inflation is -0.53%, and combining that with its security characteristics and use cases, I see it as one of the best high-flying cryptos to hold for the long term.

Not only that, gas fees declined by 60% in June, and that can lead to increased developer onboarding and activity in the Ethereum ecosystem. It is important to remember that this blockchain hosts many top crypto projects in the form of ERC20 tokens, worth over $150 billion in market capitalization collectively if you count BNB (BNB-USD). Thus, I expect ETH to deliver massive gains once the market rallies again.

Aleph Zero (AZERO-USD)

Source: Shutterstock

Aleph Zero (AZERO-USD) is not a well-established crypto project. However, it is one I believe will be worth much more down the road. The blockchain is not your typical “Ethereum Killer,” and it can rival Solana (SOL-USD) and Avalanche (AVAX-USD) due to the myriad of use cases. Aleph Zero supports all the typical Web 3.0 smart contracts but with the added benefit of having anonymous transactions like Monero (XMR-USD) and IPFS file storage like Filecoin (FIL-USD), all with a claimed 100,000 transactions per second (TPS) speed and a near-instant finality.

The cryptocurrency has retained a lot of its value compared to many of its aforementioned Web 3.0 proof-of-stake peers. I believe the current $1 range is a good point to start accumulating before the next rally. Still, I would point out one big caveat that sticks out to me.

The biggest downside with Aleph Zero is that it seems much more centralized than Ethereum or Solana. It operates like the Tron (TRX-USD) ecosystem, where stakers vote and nominate representatives. In Aleph Zero’s case, there are only 123 “era validators,” nominated by ~8,000 addresses. In comparison, Ethereum has over 757,000 validators on the beacon chain. Nonetheless, both Solana and Tron have seen success despite their lack of decentralization. Aleph Zero could too.

Emblem (EMB-USD)

Source: Chinnapong / Shutterstock

Emblem (EMB-USD) is another project you’ve likely not heard of. It is the native token of the Overline project. On the surface, it is a typical Web 3.0 virtual world project with non-fungible tokens and virtual land plots. However, the biggest bullish factor for me is its “?Router,” which claims to offer “Unlimited free P2P text & trade” and blockchain access without an internet connection. Indeed, it’s quite an ambitious undertaking for a crypto project of this size, and the risk-reward ratio here is in the extremes.

They seem to have updated the “?Router” page after a few months of silence and are letting users input their emails for the presale registry. I am still optimistic about this device at best, but if you’re a risk taker, putting in a tenner or two into EMB could go a long way if this project does take off.


Source: Shutterstock

XRP (XRP-USD) is perhaps the only true high-flying crypto for the past week due to surging optimism about its case with the Securities and Exchange Commission. Many crypto publishers have been fierce in the past few weeks and are widely circulating the argument that the SEC has a meager chance of winning against Ripple. This has led to considerable amounts of capital inflow into the cryptocurrency.

Most of these arguments come from Ripple or XRP-affiliated individuals with a vested interest in the projects’ success. I would not discount that the SEC can still end up victorious. This case has been going on since 2020, and the outcome will likely be more complex than many people anticipate. Thus, I don’t agree with the mainstream sentiment about XRP’s “near-guaranteed” win.

Regardless, it is still on this list, and I am very bullish on XRP for the long term. The case can go both ways and even in the worst-case scenario, I do not think it will tremendously impact XRP. If Ripple were to receive a harsh punishment that would cause halting XRP sales or severely limit its use cases, this case would not be at a standstill for this long. A settlement or some fines are much more likely, and with the case resolved, Ripple is likely to continue its partnerships with banks and grow.

Nano (XNO-USD)

Source: Lucio Libanori / Shutterstock.com

Nano (XNO-USD) is still relatively well-known in the crypto space. It is among the only crypto projects that offer feeless and instant transactions that require almost no energy. The blockchain is peer-to-peer; thus, it arguably has infinite scalability, making it the top pick as a method of exchange.

However, there are downsides here. The biggest downside is, of course, the lack of support on many exchanges. Coinbase (NASDAQ:COIN) is one of the biggest exchanges that does not list Nano, and its Coinbase Commerce segment is quickly becoming a widely-accepted payment method by many vendors.

Furthermore, it is only a method of exchange, and smart contracts are not supported. There is also no marketing budget for this cryptocurrency project, but the community continues to be active despite its small presence in dollar terms. Nano did have a considerable rally recently and reached nearly 90 cents before pulling back. If it keeps up the momentum, significant gains are possible.


Source: stockphoto-graf / Shutterstock.com

If you’re into presales, look into EGO Token (EGO-USD). The project focuses on AI artwork, with a platform called Paysenger, solving the copyright dilemma associated with AI. Paysenger’s team offers an interesting solution to this problem. They have implemented a personalized AI model on their platform, an artificial intelligence capable of generating content in the unique style of the author. The AI learns from the works in your portfolio, generates new artworks, and Paysenger secures the copyright for you.

To protect the generated content, Paysenger uses blockchain technology and NFTs. This means that every artwork created on Paysenger using AI is guaranteed to be attributed to its creator — not the artificial intelligence, but the artist whose artworks were used by AI. The token can deliver substantial gains, in my opinion, since this is a unique approach to how AI-generated artwork is viewed. There are 50,000 members on the platform.

Unfortunately, EGO tokens have been sold out by the time this project piqued my interest, but listing on Pancakeswap is likely by June 12. The team behind the project definitely has the resources to fuel the project’s long-term growth since there has been a lot of buzz about EGO on social media as well. Thus, this momentum token is a solid buy in my book.

On Low-Capitalization and Low-Volume Cryptocurrencies:

InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.

Read More: How to Avoid Popular Cryptocurrency Scams

On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.