Top 3 coins to be on your watchlist in June 2022

Photo by Stephen Dawson on Unsplash On May 27, the crypto market experienced yet another bearish session, with Ethereum (ETH) falling to a new 2022 low of $1,707. There was no significant news to distract investors from the ongoing threat of a crypto market regulatory overhaul. Despite the NASDAQ 100 finishing the week with a third consecutive rally to end the week up 6.84 percent, the bearish mood persisted. The majority of BTC’s relief rallies occurred on Sunday when the cryptocurrency surpassed $30,000. The weekend price increase was bitcoin’s largest daily return since March, increasing by 7.8 percent. But, what should you pay attention to in order to outperform BTC in June? Let’s take a look at this month’s top 3 Coins. 1. New $LUNA Recipients of Do Kwon’s redesigned LUNA reportedly tanked the token just hours after launch, scrambling to recoup losses from the original currency’s devastating crash earlier this month. Terraform Labs hard forked its failed blockchain on May 27, giving birth to the so-called Luna 2.0. Luna Classic has since replaced the original Luna (LUNC). Terra distributed the new coins to all holders of at least 10,000 luna tokens or less in order to “ensure that small luna holders have similar initial liquidity profiles.” Terraform Labs’ (TFL) wallet was also removed from the whitelist for the airdrop, making Terra a fully community-owned chain. Furthermore, a large portion of the token was allocated to Terra Dapp developers in order to ensure the long-term success of the ecosystem and network security. 2. Optimism — $OP Optimistic Rollup is a promising technology for scaling general-purpose smart contracts on Ethereum in the near term. If built relatively quickly, it can offer an easy way to migrate existing dapps and services with a reasonable degree of security/scalability tradeoffs. This will enable ETH 1.0 to keep up with growing demand. After much anticipation, the Layer 2 scaling network launched its new token late Tuesday. Optimism initially distributed OP via airdrop to a limited number of eligible addresses, as is standard practice in the crypto ecosystem. Users who met other criteria, such as using bridges to move tokens off the Ethereum mainnet or donating to Gitcoin within a certain timeframe, were also rewarded. Optimistic Rollup can support any L2 Ethereum privacy solution (mixers, etc). Because OR is L2, any privacy solution implemented on it will be L3. This could lead to even more fragmentation of privacy services, resulting in small anonymity sets and a low utility of privacy (as we can observe even with zcash, where transactions are not shielded by default). 2. Ethereum Name Service— $ENS The Ethereum Name Service is a decentralized, open, and extensible naming system that works with the Ethereum blockchain. The role of the ENS is similar to that of the DNS in that it maps human-readable names such as “bityard.eth” to machine-readable names such as wallet addresses such as “8g978dl39ji9xl.” Users can purchase and manage their own domains via the ENS, allowing for secure and decentralized transactions without the need for long and complex addresses. It also reduces the possibility of typing errors when entering the recipient’s address to send funds. Because the ENS was designed for Ethereum smart contracts and is native to the Ethereum ecosystem, it is immune to the security issues that plague DNS systems. Domain and name DNS records are stored on a centralized server. That means they are vulnerable to hacking.Trade ENS here. __________________________ BitYard Exchange Customer Support: Support@bityard.exchange Business Request: bd@bityard.exchange BitYard Telegram Communities BitYard News & Events — https://t.me/BITYARDNEWS English — https://t.me/BityardEnglish --- Top 3 coins to be on your watchlist in June 2022 was originally published in BitYard Token Insight on Medium, where people are continuing the conversation by highlighting and responding to this story.
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