6 Best Crypto Exchanges of June 2023
Latest News on Crypto Exchanges
Bank of America analysts have reported that the top cryptocurrency this year will be tokens with strong use cases and greater utility, such as Solana (SOL), Polygon (MATIC) and Chainlink (LINK). Nonetheless, the bank advises caution, as the unpredictable nature of the industry and high interest rates could make 2023 a tough year for crypto.
The most recent crypto rally has left investors wondering about the industry’s outlook for 2023. Since the beginning of the year, bitcoin and ether, the two largest cryptocurrencies, have seen an increase of approximately 33% and 30%, respectively. While this upward trend aligns with current movements in the stock market, it has not yet made up for the significant losses seen in the crypto market over the past two years.
The recent rise of crypto value across the board has some in the crypto industry forecasting greener pastures than last year’s for the asset class. Bitcoin reached $30,000 per coin for the first time since June of 2022; ether, the second most popular cryptocurrency, has also seen a marked increase in price.
The hype for meme coins and other trendy digital assets has died down as shown by the thousands of failed crypto coins and projects. Crypto aggregator CoinGecko reports that, as of March 2023, 1,866 of the 6,300 cryptos it listed in 2022 are already classified as dead, meaning they haven’t seen any trading activity within the last two months.
With crypto prices surging again in 2023, some Americans are wondering whether crypto is safe to invest in again. For others, the crypto industry still has a lot to prove: according to a new report from Pew Research, about two-thirds of all U.S. adults are not confident that cryptocurrencies are reliable and safe.