The recent market analysis indicates a downturn in several cryptocurrencies. Notably, Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Optimism (OP), and NEAR Protocol (NEAR) are identified as the top crypto to sell to ensure financial stability. Bitcoin is currently hovering around $68,000, raising concerns about potential cascades to $65,000 before June.

1. Crypto To Sell – Solana (SOL) 

Solana (SOL) project, an open-source initiative leveraging blockchain’s permissionless nature, aims to provide decentralized finance (DeFi) solutions. Currently ranked fifth on CoinMarketCap, Solana boasts a market cap of $76.337 billion.

Designed to support decentralized applications (DApps), Solana has experienced remarkable price growth over the past year, soaring over 760%. This impressive performance positions Solana as a strong contender for substantial returns, particularly if Ethereum secures an ETF. 

The current price of Solana is $168, reflecting a 1% dip in the last 24 hours. In the past month, Solana’s market value has surged by over 18%, showcasing strong market dynamics.

Solana price chart

The platform is experiencing a surge in the total value locked in its DeFi applications. This uptrend is also boosting the appeal of meme coins on the Solana blockchain. If market conditions shift, this dynamic could make Solana a significant crypto asset to watch.

2. Dogecoin (DOGE)

Dogecoin (DOGE), a popular cryptocurrency based on the beloved “doge” meme featuring a Shiba Inu, has seen a notable increase in its value recently. Currently holding a market cap of $22.75 billion, Dogecoin ranks eighth among all cryptocurrencies and stands as the leading meme coin. The Dogecoin price has climbed to $0.1628, marking a 5% dip in the last day. This makes Dogecoin a potential crypto to sell if Bitcoin drops to $65,000 before June.

Over the past year, Dogecoin has surged by 124%. This remarkable growth is underscored by a surge in large transactions, indicating significant investments from major players or “whales.” This trend suggests a heightened interest in Dogecoin.

3. Litecoin (LTC)

Litecoin (LTC) aims to facilitate quick, safe, and cost-effective payments using blockchain’s distinct capabilities. However, recent times have seen Litecoin grappling with significant price fluctuations due to external market pressures and global political uncertainties.

Currently, Litecoin is priced at $82.71, reflecting a slight decline of 3% in the last 24 hours. It ranks 21st on CoinMarketCap, with a market cap of $6.18 billion.

4. Bitcoin Cash (BCH) 

Bitcoin Cash (BCH) is a decentralized and permissionless cryptocurrency designed for fast, low-fee transactions with enhanced privacy through larger block sizes. Established as an alternative to Bitcoin (BTC), Bitcoin Cash aspires to become sound global money.

Currently, Bitcoin Cash is priced at $464, marking a 6% decrease in the last 24 hours. It ranks 15th on CoinMarketCap, with a market capitalization of nearly $9.14 billion. Over the past year, BCH has surged by 300%, indicating a strong bullish trend. 

Bitcoin Cash weekly chart

However, its value dipped by 11% in the past week and decreased by 4% over the month. This positions it as a potential sell if Bitcoin’s price drops to $65,000 before June.

5. Optimism (OP)

Optimism (OP) is a leading layer-2 scaling solution on the Ethereum blockchain recognized for enhancing scalability and lowering transaction fees. Currently, the Optimism price is at $2.52, and it has seen a slight decrease, registering more than a 3% drop in the past day. 

Despite this, it experienced a 13% rise over the week but noted a 7% decrease over the month. It stands out as a robust alternative, offering efficient transaction processing and cost reductions. With a Total Value Locked (TVL) exceeding $865 million, Optimism is a key player in Ethereum’s scalability solutions landscape.

6. NEAR Protocol (NEAR)

NEAR Protocol (NEAR) is gaining attention as a decentralized cloud computing platform. It offers solutions to traditional blockchain challenges, such as slow transactions, limited throughput, and weak interoperability. 

NEAR price chart

Over the past 24 hours, NEAR has seen a 4% decrease in value, marking a significant downward movement. Despite this, it showcased a 7% rise over the week and a notable 5% jump in the last month. NEAR Protocol currently holds the 19th position on CoinMarketCap, with a market capitalization of $8.19 billion, trading at $7.58. It is also considered a crypto to sell if Bitcoin cascades to $65,000 before June.

Bottom Line

The analysis advises selling  Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), Optimism (OP), and NEAR Protocol (NEAR)  to secure financial stability if Bitcoin’s price may fall to $65,000 before June. Employing key DCA strategies amid the dips could boost holdings and eventually maximize profits.

The post 6 Crypto To Sell If Bitcoin Cascades Hitting $65,000 Before June appeared first on CoinGape.

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Filed under: News - @ May 28, 2024 5:19 pm