New Cryptocurrencies To Watch in June 2021
Here are three new cryptocurrencies that are making waves this month. With any luck, they could end up skyrocketing in value.
June 10 2021, Published 4:51 a.m. ET
Every month, there are hundreds of new cryptocurrencies launched. Most of these coins are trying to cash in on the crypto craze. However, if you can sort out the diamonds from the rough, you’ll find some altcoins worth keeping an eye on or even investing a bit into.
Although we can’t predict every single crypto that's set to launch in June, several new tokens have listed over the past few days that could make big waves by the end of the month.
EthereumPay
EthereumPay (EPAY), launched on Jun. 9, has reached a $32.8 million market cap. That’s still small but impressive for a token that’s been around for a single day. What’s more, the trading volume for this altcoin is sitting at an impressive $74.6 million.
EPAY, built on the Ethereum blockchain, aims to make Ethereum transactions faster and reduce gas fees. EthereumPay uses multiple sidechains, which are secondary blockchains that run alongside the primary network, to reduce fees and improve transaction times.
EthereumPay isn't the first blockchain project trying to tackle Ethereum’s deficits. Both Polkadot (DOT) and Cardano (ADA) promise to do something similar using their own technology. Almost any crypto that brands itself as a new and improved version of Ethereum is bound to do well in this current trading environment.
Commercial Data Storage
Despite its strange name, Commercial Data Storage (CDS) aims to revolutionize how we handle file storage. CDS is a new blockchain protocol that’s based on another consensus algorithm, proof of traffic-measured storage (POTS). This type of consensus algorithm, designed for decentralized cloud storage, verifies that users are storing files as they claim they are.
It’s similar in philosophy to Amazon Web Services’ S3 Project, which lets people around the world access and store relevant information. In contrast to centralized storage solutions like S3, however, blockchains built off POTS are decentralized. Although Commercial Data Storage was initially ignored, its price skyrocketed more than 650 percent on Jun. 10.
Safe Energy
Safe Energy (ENERGYX) is another cryptocurrency that uses a deflationary tokenomic model. Unlike most deflationary cryptos, which tend to be meme coins, Safe Energy is a charity token designed to help reduce the world’s carbon footprint. Funds raised by using Safe Energy will be donated to sustainability projects around the world.
Whereas charity tokens aren’t as popular as most other cryptocurrency types, Safe Energy could still skyrocket in value thanks to its focus on renewable energy. Since launching less than 24 hours ago, Safe Energy has risen over 100 percent to one-millionth of a penny.
Unlike most altcoins, which are built on Ethereum, Safe Energy is built on the Binance Smart Chain. To buy some, you'll need to use decentralized exchange PancakeSwap. Safe Energy's market cap is now sitting at just $2.9 million, which isn’t bad for a super-new altcoin project.
