Markets
3 Oversold Tier 2 Altcoins to Buy as June Crypto Rally Beckons
The cryptocurrency market is currently experiencing bearish trends after recent corrections, which have impacted several layer 2 cryptocurrencies. Among these, three altcoins appear significantly undervalued and poised for recovery. Polygon (MATIC), Immutable (IMX), and Arbitrum (ARB) are prime investment candidates as the market prepares for a potential rally in June.
1. Polygon (MATIC)
Polygon (MATIC), a key Layer 2 solution, is designed to power Ethereum by improving its scalability and interoperability without changing its core structure. It works using a series of sidechains that dramatically reduce costs and improve the processing capabilities of Ethereum. This setup is especially beneficial for users who face high transaction fees.
Polygon price chart
Recently, MATIC has seen a significant drop in its market value, with a decline of 8% in the last month. Currently, Polygon price it is at $0.602, which marks a 1% drop in just 24 hours. Currently positioned among the top 20 cryptocurrencies by market capitalization, which amounts to $5.95 billion, MATIC is considered a potential buy, especially as the cryptocurrency market is expected to rally in June.
2. Immutable (IMX)
Immutable (IMX) has established itself as the layer two solution for NFT scaling on the Ethereum blockchain, addressing critical issues such as scalability, user engagement, liquidity, and development delays. This innovative platform transforms the traditional limitations associated with Ethereum, improving both the speed and efficiency of NFT transactions and related applications.
Immutable price chart
In recent developments, Unchangeable price it fell to $1.76. This represents a 14% decline over the past week and a 27% decline over the past month. It currently ranks 39th on CoinMarketCap with a market capitalization of $2.6 billion.
3. Referee (ARB)
Arbitrum (ARB), a leading scaling solution for Ethereum, uses optimistic rollups to increase transaction speed while ensuring that Ethereum’s core security features remain intact. This technology increases productivity and reduces costs, improving overall efficiency.
Arbitrage Price Chart
The Arbitrum token has been on a decline recently, dropping 2.21% to $0.9285 in the past 24 hours. Monthly data shows a slight decline of 0.04% and a decline of 7% on the week, positioning it as a potentially undervalued asset ahead of an expected rally in the cryptocurrency market this June. The current CoinMarketCap the ranking is 38, with a market capitalization of $2.6 billion.
Bottom line
As June approaches, investors may consider focusing on altcoins such as Polygon, Immutable, and Arbitrum. These three have shown resilience and growth potential despite fluctuations in the broader market, making them attractive to those looking to purchase promising crypto assets.
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