While Bitcoin targets enhancement, historical data indicate that altcoins are favored with rallies after Bitcoin breaches fresh record levels. Before the halving event, Bitcoin had hit new highs and was predicted to go even further. The overall cryptocurrency landscape lends credence to this theory that at least 4 other altcoins may likely experience explosive growth in June 2024.
Read CRYPTONEWSLAND onArbitrum (ARB)
Arbitrum is an ETL role that aims to address some of the challenges facing Ethereum, including transaction fees and throughput. This is the model used in Arbitrum where transactions take place in Optimistic Rollup and are resolved at the Ethereum main net.
This is because Arbitrum (ARB) can scale the number of transactions to be processed at an even cheaper cost than that of processing Ethereum. Arbitrum also connects with Ethereum Virtual Machine (EVM) making it possible for individuals to migrate their decentralized applications to Arbitrum. As of now, the ARB price is around $0.9478. This price point is a cheap entry compared to Arbitrum’s prospects.
Injective (INJ)
Injective is a decentralized Exchange that provides derivatives offerings; it allows trading of various instruments such as Cryptocurrencies, Equities, and Commodities. Injective (INJ) has utilized Cosmos SDK technology. Overall, Injective benefits from high speed and scalability since Cosmos SDK technology lends itself well to fast and scalable designs.
Injectives also present many advanced features including Margin trading and Perpetual trading. If you plan to trade often and need a fast, secure, and decentralized derivatives trading platform, Injective is worth recommending. Although there has been a market correction recently, INJ has appreciated by greater than 10.4% in the preceding week and an incredible 387% over the past twelve months.
Manta Network (MANTA)
Manta Network is essentially a privacy solution in DeFi that enables people to make cross-DeFi transactions anonymously. Manta Network implements private messages and data sharing through zk-SNARK, which is highly secure. Another advantage of the Manta Network is it is integrated with different DeFi protocols such as Aave, Compound, and Uniswap.
Manta Network is highly recommended for anyone who is seeking anonymity with regards to interacting with DeFi protocols. Manta yields a stack-based system for Web3 through which one can develop and launch blockchain applications powered by Solidity. Looking at the previous 24 hours, the price of MANTA was $1.43, with a trading volume of $40 million, with a 24-hour percent increase of 24.40.
Pyth Network (PYTH)
Pyth Network, as an independent Oracle services platform, is committed to offering genuine market information for DeFi projects. To enhance data credibility, Pyth Network employs a pool of professionals to cross-authenticate figures to narrow the credibility gap.
Chainlink and Band Protocol are also integrated with Pyth Network as far as DeFi platforms are concerned. Overall, Pyth Network can be deemed good, at least when it comes to DeFi development, especially if the project is focused on getting relevant market data. Currently, PYTH is trading at $0.3968, which is 7.95% less than what it was a week ago; the volume of trade over the last one day was $108 million.
The future of ARB, INJ, MANTA, and PYTH in crypto is promising. Arbitrum (ARB) revolutionizes Ethereum transactions, Injective (INJ) excels in decentralized exchanges, Manta Network (MANTA) ensures DeFi privacy and Pyth Network (PYTH) provides reliable market data. These altcoins are set to lead and innovate, making them valuable crypto assets.
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