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7 Cryptos That Could Rebound Soon


The crypto bubble has just popped. Cryptos have been plunging over the past month, shaking investor faith in the cryptocurrency market and wiping away around $1 trillion from the crypto market. Bitcoin (CCC:BTC-USD) has lost nearly half its value since reaching an all-time high of over $64,000 in mid-May. Although it is hard to know whether digital currencies are out of the woods, in the past few days, the crypto market has shown signs of recovery. Therefore, today’s article discusses seven cryptos that could rebound soon.

Vitalik Buterin, the founder of Ethereum (CCC:ETH-USDtold CNN in late May: “We’ve had at least three of these big crypto bubbles so far. And often enough, the reason the bubbles end up stopping is because some event happens that just makes it clear that the technology isn’t there yet… It feels like crypto is close to ready for the mainstream in a way that it wasn’t even four years ago.”

Former Goldman Sachs executive Raoul Pal shares Buterin’s optimism. He believes that the recent crash is a bullish catalyst that should enhance the development of the crypto ecosystem in the long term. He recently said, “A new, anti-fragile financial system that doesn’t break in times of stress, where ownership of assets is clear and losses are not mutualised to taxpayers. This was a big two weeks for crypto and for the future financial system.”

The developments of the past year has shown that a digital economic system is fast evolving. Digital currencies, payment systems and platforms are an integral part of increased digitalization. Therefore, many cryptos that are making headlines today are possibly here to stay for the long-term and will eventually reach new highs.

Yet readers should also remember that the acceptance of digital currencies will not be uniform across countries. For instance, recent weeks saw China crack down on cryptos. Earlier in the year, several crypto exchanges collapsed in Turkey, bringing volatility to the price of Bitcoin. We may even see a crypto tax announcement from the U.S. government, as it wows to get tough on tax avoidance. Therefore, investors should not bet the farm on digital assets.

This list includes a few of the most promising ideas in the blockchain space today. All have solid upside potential for the rest of the year. With that information, here is our list of seven cryptos ready for a rebound in June.

Cryptos to Buy on Rebound: BitTorrent (BTT-USD)

Source: Shutterstock

BitTorrent was founded two decades ago as a file-sharing software over a peer-to-peer network. It was acquired by the Tron Foundation in 2019 and established a BitTorrent token cryptocurrency (BTT) to deliver incentives to users and expand its protocol.

File providers receive BTT-USD for sharing a file on their system, users spend the crypto to request files or increase their download speed. There is no limit to file capacity. The platform aims to build the foundation for future growth by improving its quality of service.

Once associated with the illegal pirating of movies, BitTorrent managed to rebuild its reputation and has since come a long way. It is now the largest peer-to-peer (P2P) software on the blockchain. After all, there will always be a market of internet users who need feasible ways to share files online. Currently, BitTorrent boasts 2 billion users and 200 million wallets worldwide. Companies that use its protocol include Netflix (NASDAQ:NFLX), Facebook (NASDAQ:FB), and Twitter (NYSE:TWTR).

BitTorrent is currently hovering at 0.36 cents (or about $0.0036), up more than 1043% year-to-date. On Apr. 6, it reached an all-time high of 1.0589 cents (or about $0.0106). BTT-USD has since been falling. It has bounced back at the 0.35 cent support area. Yet, it is down more than 60% from its all-time high (ATH) seen in early April.

Despite the recent volatility, investor sentiment for BTT-USD is bullish. In fact, an initial coin offering (ICO) on Binance earlier in the year sold out in just 15 minutes. BitTorrent demonstrates upside potential due to its growing user base. Once the present choppinesses subsides, it could be one of the first cryptos to rebound soon.

Cardano (ADA-USD)

The Cardano (ADA) token with other gold and silver tokens in the background.

Source: Shutterstock

A remarkable price rally in 2021 made ADA-USD the 5th-largest digital coin by market capitalization (cap). The Cardano network is also one of the largest blockchains that uses proof-of-stake (PoS) validation. As an eco-friendly cryptocurrency, ADA-USD has differentiated itself among other cryptos.

ADA-USD has been able to get around various problems associated with Bitcoin’s rigid structure and Ethereum’s high fees and congestion issues. It uses a two-layer computational structure that improves the scaling issues of Bitcoin and smart contract features of Ethereum.

The platform has seen a major surge in adoption due to its capability to build smart contracts. ADA-USD offers users an alternative to Ethereum for decentralized finance (DeFi) applications with higher speed and lower fees.

At the end of 2020, ADA-USD was trading around 18 cents. Today, it’s trading at $1.53. It has gained over 775% year-to-date (YTD). The altcoin has proved to be quite resilient during the recent crash compared to some other cryptos. It is currently trading about 38% below its ATH.

Currently, the investor sentiment for the “Ethereum killer” is bullish. For the longer term, the price of ADA-USD will likely move back above $2 and trade at new highs in the coming years.

Cryptos to Buy on Rebound: Chainlink (LINK-USD)

a digital representation of the chainlink (LINK) cryptocurrency

Source: Stanslavs / Shutterstock.com

Our third crypto, Chainlink, aims to integrate off-chain data into smart contracts using an oracle network. Oracles are sources of data between the blockchain and the “real” world. Chainlink works as a connection that links independent blockchain projects to real-world data.

Experts point to a need for a bridge that can help the blockchain systems see and react to what is happening in real life. Put another way, Chainlink provides the vital information smart contracts need to operate advanced features in decentralized applications and non-fungible tokens (NFTs).

For instance, Chainlink can integrate finance information from other well-known sites into smart contracts. Thus, smart contracts could be designed to pay out insurance claims if values like share price or temperature fall outside a certain range.

LINK-USD is an Ethereum token powering the Chainlink network. Chainlink was founded in 2017 by Sergey Nazarov. He is a well-known name in the crypto space as the founder of the smart contracts concept.

The altcoin was launched in 2017 with a price under 20 cents and remained under $1 until 2019. It got its most significant boost when Google (NASDAQ:GOOG, GOOGL) began using Chainlink in 2019.  The price soared from under $2 during the first days of 2020 to a high of over $52.88 on May 10, 2021. LINK-USD currently trades around $23, and is up about 95% YTD.

Incorporating real-world data opens up an enormous potential for blockchain networks in the long-run. Thus, we could soon see LINK-USD become a crypto standard among decentralized oracle networks. It is one of my top altcoin picks to rebound in June.

Polkadot (DOT-USD)

the icon for the Polkadot (DOT) cryptocurrency

Source: Zeedign.com / Shutterstock.com

Next on our list is Polkadot, one of the youngest cryptos. It was created by former Ethereum leaders who developed a new digital asset with more advanced features designed to overcome the scalability issues in Ethereum. It enables developers to build their own blockchains and effectively connect them with each other based on a standard security system.

The project’s vision is to create a completely decentralized Web 3.0. Most InvestorPlace.com readers would be familiar with how Web 3.0 “will focus on using a machine-based understanding of data to provide a data-driven and semantic web. The ultimate goal of Web 3.0 is to create more intelligent, connected and open websites.”

Polkadot’s competitive advantage lies in its capability to accept different kinds of independent chains. DOT-USD token is its native cryptocurrency. The blockchain platform allows messages and monetary values to be transferred peer-to-peer.

Thus, it is a multi-chain technology built on trust among users. For instance, it has a dynamic governing structure of voting rights for all DOT-USD holders. At the time of writing, Polkadot has become the 9th largest cryptocurrency by market cap.

DOT-USD started the year at $8.305. Now, it is trading around $28, or up about 175% YTD. Despite the recent decline in price, this is an impressive performance. Once the crypto space recovers, long-term investors are most likely to see new highs.

Cryptos to Buy on Rebound: Polygon (MATIC-USD)

A concept image for the Polygon (MATIC) crypto.

Source: Shutterstock

Previously known as the MATIC Network, Polygon has a mission to help developers create Ethereum-compatible blockchains. It provides the framework for building Ethereum-compatible blockchains. Therefore, Polygon is also referred as the “Internet of Blockchains.” Its digital token, MATIC-USD, currently ranks as the 18th largest cryptocurrency by market cap.

Polygon addresses some of the issues that Ethereum has, such as high fees, delayed transactions and lack of community governance. Polygon’s main advantage over its peers lies in the network’s capability to develop decentralised applications cheaper, faster, and easier. It is therefore well positioned to become a leading player in DeFi space.

MATIC-USD skyrocketed in May, increasing by over 500% in a period of 3 weeks to its peak of $2.4543 on May 17. The price plunged to $0.75 on May 23, rebounding to $2.44 on May 26 before recently falling back below $2. Polygon is currently trading around $1.38. While it has declined by about 44% from its ATH, it’s worth noting that MATIC-USD is up more than 1000% since its rebranding in February.

Long-term sentiment for the crypto is bullish as users appreciate Polygon’s advantages over Ethereum in transactions. Once the dust settles around the recent crypto sell-off, MATIC-USD could easily have further upside potential.

Stellar (XLM-USD)

Source: Shutterstock

The Stellar network is an open-source, distributed and community-owned network designed to facilitate instant payments at almost no cost. XLM-USD is the native token of the network. It currently ranks as the 19th largest cryptocurrency by market cap.

XLM-USD was originally based on the Ripple protocol, whose cryptocurrency is XRP (CCC:XRP-USD). Jed McCaleb created Stellar, a non-profit-organization, in June 2016 after leaving Ripple.

Readers may find it easier to visualize Stellar as the Paypal of cryptocurrency networks. Its winning proposition is to serve as a bridge between banks and blockchain networks. Stellar is designed to convert any currency and trade it across various channels much cheaper and faster than a traditional bank. It is well-known for its rock-bottom fees, which are fixed at 0.0001 XLM-USD.

Stellar therefore has the potential to disrupt the cross-border payments industry in the long run, by connecting financial institutions and providing cheap transactions. It also aims to enhance financial inclusion in developing countries and frontier territories around the globe, where the financial network is less developed.

XLM-USD currently trades at 42 cents. It’s up more than 150% this year so far. But the altcoin has decreased considerably since its May 16 high of 79.80 cents. It has, however, bounced at the $0.35 area which has become a support line. Interested investors should keep the crypto under their radar.

Cryptos to Buy on Rebound: VeChain (VET-USD)

Vechain logo

Source: RuskaDesign / Shutterstock.com

Our final crypto for today, VeChain, is a blockchain focused on improving corporate supply chains and logistics. It is an enterprise level public blockchain platform that can turn supply chains transparent through smart contracts. The digital token currently ranks as the 20th largest cryptocurrency by market cap.

Its platform helps supply chain management and business processes in a range of industries, such as automobile, healthcare, and logistics. For instance, a number of businesses use the platform for inventory tracking purposes. A VeChain study in 2020 reports that it can track $300 billion worth of food on the blockchain by 2027.

Walmart (NYSE:WMT) has recently partnered with International Business Machines (NYSE:IBM) and created the Food Trust Blockchain with nine other food companies to track food supplies. Walmart China has also been working with VeChain and other groups in China for improving its supply chain management in the country. VeChain has developed partnerships with prominent players in various industries such as BMW (OTCMKTS:BMWYY) and Renault (OTCMKTS:RNLSY).

Vechain is based on the Ethereum blockchain. The platform was developed by the Shanghai-based Chinese BaaS company BitSe, and founded by ex-managers of IBM, LVMH Moet Hennessy Louis Vuitton (OTCMKTS:LVMHF) and Alibaba (NYSE:BABA). It has a proof-of-authority protocol system, and offers a higher level of scalability for enterprise solutions.

VET-USD was trading around 2 cents at the end of 2020. It has surged to over 25 cents on April 21. The crypto crash in May has led to a considerable decline in its value over the past month. The altcoin currently trades at around 11 cents per coin. Nonetheless, it has surged more than 490% year to date.

Because it offers technological solutions to major logistics problems, VET-USD has major upside potential in the long run. Therefore, it is one of our top picks for a June rebound.

On the date of publication, Tezcan Gecgil 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.

Tezcan Gecgil, Ph.D., has worked in investment management for over two decades in the U.S. and U.K. In addition to formal higher education in the field, she has also completed all 3 levels of the Chartered Market Technician (CMT) examination. Her passion is for options trading based on technical analysis of fundamentally strong companies. She especially enjoys setting up weekly covered calls for income generation.




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