Invest in these undervalued crypto projects to make massive returns in the long run.
With thousands of cryptocurrencies on the market, it can be hard to decipher between a promising project with long-term growth potential and quick cash grabs that will not last through a bear market. Buying an undervalued cryptocurrency with solid potential could unlock the door to profitable returns.
Considering a digital asset's market cap, development team, market position, and future price potential, we have compiled a list of 5 undervalued cryptocurrencies to buy in June 2022 and beyond.
Ethereum (ETH)
Although far newer than Bitcoin, Ethereum burst onto the scene in 2015 and earned a spot as the undisputed second-fiddle to BTC over the years. The innovation of the Ethereum network was to bring the capability of smart contracts and the burgeoning field of decentralized finance (DeFi) into play.
DeFi is an expansive area of finance defined by the lack of traditional financial intermediaries. It theoretically allows for trustless peer-to-peer financial transactions, cutting out third parties and saving users time, money, and hassle.
Notably, most non-fungible tokens are also built using Ethereum's network. So, an influx of NFT buyers could increase the price of Ether. NFTs are bought and sold using Ethereum; the more investors purchase NFTs, the more demand there may be for ETH, making it high-potential crypto.
Ethereum’s first-mover advantage in DeFi and the NFT space makes it one of the top 5 undervalued cryptocurrencies to buy in June 2022.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Binance Coin (BNB)
BNB Coin is worth watching because of its price action, history, and the company behind it, as it is the native token of the Binance ecosystem. The Binance ecosystem consists of BNB Chain (formerly Binance Smart Chain) and Binance exchanges, one of the largest crypto marketplaces by trading volume.
BNB Coin (BNB) offers Binance holders a discount on trading fees if they trade on the exchange. The exchange has more than 30 million users. BNB is to BNB Chain what ETH is to Ethereum. As the BNB Chain attracts more developers and DApps, the Binance ecosystem will grow. In turn, this will result in BNB’s price rising.
BNB Coin (BNB) has taken a beating over the past few months. This is true for nearly the whole cryptocurrency market. However, the asset is showing strong signs of resilience as it has maintained a steady support level. This could be a clear indication that BNB is one of the top 5 undervalued cryptocurrencies to buy.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Solana (SOL)
Solana (SOL) is a fourth-generation blockchain and cryptocurrency that leverages an open infrastructure to provide greater scalability. The network introduces various new and unique technologies to provide users with unmatched transaction speeds and enterprise-level security.
It is one of the most advanced blockchains in operation currently. The developers behind this project succeeded in creating a network that could surpass current payment processors in terms of TPS and functionality.
Solana is a rival to Ethereum (ETH), and most analysts in the industry think that it could surpass it in 2022. Solana was designed to support and sustain smart contracts (a collection of code that executes a set of instructions on the blockchain). It is also used for decentralized applications (dApps). However, its price has not quite caught up to where its potential is, making it one of the most undervalued cryptocurrencies to buy in June 2022.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Avalanche (AVAX)
Avax (AVAX) is the native token of the Avalanche blockchain. A project started in 2020 by Ava Labs has seen incredible success. Avalanche is a huge player in the world of DeFi, and AVAX is one of the hottest coins in the market.
Avalanche is one of the fastest smart contract platforms, measured by time-to-finality. It is also low-cost and eco-friendly. Any smart contract-enabled application can outperform its competition by deploying on Avalanche. The platform launched on mainnet on September 21, 2020, and has grown since to secure over 450+ individual projects.
A huge part of Avalanche’s success is attributed to its smart contract capability paired with its high throughput. The Avalanche Foundation announced Avalanche Rush in 2021, which saw $180 million in incentives for liquidity providers and drew huge crowds to the network. Experts believe AVAX is one of the top undervalued cryptocurrencies to buy in June 2022 and beyond, purely based on the potential this coin promises.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Polygon (MATIC)
MATIC is an Ethereum token used to power the Polygon Network, an Ethereum multi-chain scaling solution. Polygon, formerly known as Matic Network, aims to improve interoperability between the Ethereum blockchain and compatible networks. Over the past few years, the platform has seen a significant increase in traffic.
Polygon began as Matic Network, but it rebranded as Polygon as the scale of the protocol grew. Originally, Matic Network was only a Layer 2 Scaling Solution, but later it became an ecosystem of independent, collaborative, and interactive Ethereum-based blockchains.
The team built Polygon to scale Ethereum decentralized applications (dApps) and other blockchains. Features like ETH compatibility, scalability, security, interoperability, user experience, developer experience, and modularity help the platform reach its goal.
Currently, more than 400 dApps are using the Polygon infrastructure. These include applications in decentralized finance, NFT & gaming, decentralized autonomous organizations (DAO), oracles, wallets, and business-to-business (B2B) technologies. Good news for investors is that the price of MATIC still has plenty of room for growth, making it one of the best undervalued cryptocurrencies to buy in June 2022.
Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.
Bottom Line
Cryptocurrencies have become a popular way to make good returns for investors and traders globally. The digital currencies mentioned above are some of the best undervalued cryptocurrencies in 2022.
That said, cryptocurrencies are volatile, so investors are advised to perform due research before investing in digital assets.
Read More:
The 5 Best Ways To Buy Avalanche (AVAX)
Top 10 DeFi Cryptocurrencies That Are Set To Explode
9 Growth Cryptocurrencies That Are Undervalued
7 Promising And Cheap Cryptocurrencies To Invest In