In June 2023, investors are eager to optimize their portfolios and leverage dynamic market trends. Identifying top stocks and cryptos to watch becomes crucial amidst a stagnating global economy and evolving financial landscape.
Keeping a close watch on the top stocks and cryptocurrencies of June 2023 is advisable to stay ahead of market trends. These selections offer growth opportunities and potential returns as the economic recovery gains momentum. Analyzing indicators and market projections helps build a comprehensive investment watchlist.
Staying updated is vital to understanding these high-potential assets’ performance.
Let’s focus on stocks and cryptos demonstrating strong fundamentals, robust financials, and innovative strategies to position for long-term success. That way we can conduct thorough due diligence considering market trends, industry performance and upcoming events affecting high-potential assets.
However, when evaluating the top stocks and cryptos to watch, there is one crucial factor to remember. The crypto space is incredibly volatile. Yes, you have the chance to become a millionaire in short order. It can wipe away all of your savings.
In a volatile and unpredictable world, diversifying your investments across various companies is crucial to mitigate risk. Reduce reliance on any single entity so you may increase the chances of achieving overall stability and positive performance.
The same rule applies to investing in the crypto space. With that in mind, let us delve deeper and consider the top stocks and cryptos to watch in today’s market.
| COIN | Coinbase Global | $56.92 |
| MATIC-USD | Polygon | $0.92 |
| BNB-USD | BNB | $312.65 |
Coinbase Global (COIN)
Coinbase Global (NASDAQ:COIN) affected the cryptocurrency market through its highly anticipated IPO in April 2021.
Coinbase caters to the needs of both beginners and advanced users, leading to an exponential growth in user base since its introduction. The abundance of options ensures there is no shortage of trading opportunities available.
The success of Coinbase’s platform is closely tied to the rise in cryptocurrency prices, which has attracted millions of new users.
Besides generating revenue from transaction fees, Coinbase offers a debit card. This lets users spend funds from their digital wallets.
Governments and financial institutions have adopted Coinbase’s analytics tools. Coinbase can monitor and analyze blockchain data to detect illicit transactions.
The fluctuating prices within the distinct asset class of cryptocurrencies are determined by their finite nature and the value attributed to them by people. As the crypto market undergoes continuous evolution, Coinbase continues to remain at the forefront.
Polygon (MATIC-USD)
Polygon (MATIC-USD) focuses on Ethereum scaling and infrastructure development. By functioning as a “layer two” solution, it enhances Ethereum’s capabilities by converting it into a multi-chain system. This transformation leads to increased transaction speed and improved verification processes.
MATIC plays a crucial role in payment services and transaction fees. It also serves as a settlement currency within the Polygon ecosystem.
In July 2022, Polygon unveiled Polygon zkEVM, recognized as the first Ethereum-equivalent scaling solution seamlessly integrating with existing smart contracts, developer tools, and wallets.
This innovation leverages zero-knowledge proofs, a cryptographic technique that reduces transaction costs and improves throughput.
Polygon has achieved remarkable growth, with a hosting capacity of over 53,000 decentralized applications as of October 2022.
Major companies have joined the Polygon network, resulting in an astounding 800% increase in decentralized applications since the start of 2022.
Polygon’s full support for the tether stablecoin adds to its potential for expansion.
However, investing in Polygon does come with risks. While Polygon’s layer-two solution addresses Ethereum’s speed issues, Ethereum’s forthcoming Merge upgrade might render that obsolete.
Investors considering Polygon should carefully evaluate these factors and stay informed about the evolving landscape of blockchain technology and potential advancements within the Ethereum network that may impact the viability of Polygon’s scaling solutions.
BNB (BNB-USD)
BNB (BNB-USD), the native token of Binance and Binance.US, has been a relatively secure investment choice. Despite its accomplishments in various Binance sub-projects, BNB’s value is susceptible to fluctuations.
Binance’s regular coin burns, such as the recent burn on April 14 that eliminated 2,020,132.25 tokens aim to manage the token supply and potentially create scarcity for long-term benefits.
Currently, there are 155,862,572 BNB tokens in circulation, reduced from the initial 200,000,000 tokens.
Following the collapse of the FTX exchange, Binance has played a pivotal role in stabilizing the cryptocurrency industry.
To support struggling market participants, Binance has established a recovery fund of $1 billion, as reported by CNBC. That is why it is one of the top stocks and cryptos to watch.
However, investing in BNB carries risks. Regulatory challenges significantly threaten BNB’s value, especially after the FTX bankruptcy.
Investors should know these risks and stay updated on regulatory developments that could affect BNB’s future performance.
While BNB provides unique opportunities within the Binance ecosystem, it is essential to carefully consider the potential influence of regulatory scrutiny on the token’s value and the overall market dynamics.
On the publication date, Faizan Farooque did not hold (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.
