Cryptocurrencies to watch in June 2024
ADA (Cardano) once enjoyed great success in the cryptocurrency market with its unique technology and vision.
However, while most cryptocurrencies have shown an upward trend this year, ADA has been slightly quieter, falling 30% year-to-date (YTD). The reasons behind this decline may be varied, but one notable factor may be that Cardano has always been in the shadow of fellow Ethereum killer Solana (SOL-USD) in its competition with the latter.
Despite this, Solana has won over the market with its ultra-fast trading speeds and is up 45% year to date.
However, this month could mark an important turning point for ADA investors.
Cardano is about to undergo its hard fork, marking the launch of its last important development phase - Voltaire.
The Voltaire phase will bring unprecedented participation opportunities to Cardano users and stakeholders. They will participate in the governance of the platform through voting rights and jointly determine the future development direction of Cardano.
In addition, Voltaire will introduce a treasury system for funding development proposals, further promoting the prosperity of the Cardano ecosystem.
In the cryptocurrency world, protocol upgrades are often accompanied by market re-evaluation of the currency and an increase in price.
While it is unclear whether Cardano will be able to maintain favorable price trends after the upgrade, ADA is certainly a cryptocurrency to watch in June 2024, given its strong technical foundation, upcoming upgrades, and enthusiastic support from the community. .
If you are looking for opportunities to buy cryptocurrencies this month, ADA may be an option worth considering.
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