- Falling Bitcoin dominance and low exchange supply point to a potential altcoin rally.
- Toncoin and Virtuals Protocol are likely to see growth from AI and event-driven exposure.
- Quant and NEAR blockchains stand out for their interoperability and cross-chain execution.
Crypto analyst Mattie from Altcoin Buzz says the altcoin market may be on the verge of a breakout in June. In a YouTube video, he highlights four tokens that show strong technical fundamentals and upside potential.
In the analysis, Mattie points to several on-chain indicators that suggest a market shift is underway. The leading indicator was the declining Bitcoin supply on exchanges, often a precursor to a supply shock.
At the same time, Bitcoin dominance is falling, signaling that investor attention may be shifting toward altcoins. He also pointed to Ethereum’s stability despite trading at a 3.8% loss in the past day.
These trends typically indicate that a new phase of a bull run could be starting, especially for altcoins with strong development activity or upcoming events.
Toncoin Leverages Telegram Legacy and NFC Exposure
The first on the list is Toncoin (TON), which originated from Telegram’s Open Network and now operates under the TON Foundation. The Layer 1 blockchain supports financial applications and also enables decentralized file storage (TON Storage), a domain name service, and private network access via TON Proxy.
TON is one of the main sponsors of the Non-Fungible Conference (NFC) in Lisbon, which will take place from June 4 to 6. This event could provide visibility and potential partnership announcements.
TON is trading at $3.08, a 6.3% loss in the past day, cutting its weekly gain to just 2.1%. However, Mattie cites its unlimited token supply as a concern over long-term inflation and investor dilution.
Virtuals Protocol Rides AI Agent Hype
Another coin that made the list was Virtuals Protocol (VIRTUAL), which functions as a launchpad for AI agents. The token has increased by 18% over the past 30 days and by over 2,000% over the past year. It is currently priced at $1.96.
Quant Network
Furthermore, Mattie cited Quant Network (QNT), which focuses on interoperability between blockchain networks and traditional finance systems. It utilizes Overledger, an API-based operating system that enables applications known as mDApps to run across multiple blockchains.
Notably, most of QNT tokens are already in circulation, providing strong tokenomics. After a 5.1% drop in the past day, QNT trades at $105.5, with a market cap of $1.24 billion.
NEAR Protocol
The fourth mention to watch in June is NEAR Protocol (NEAR), a scalable Layer 1 blockchain optimized for AI-native apps. It uses sharding technology via Nightshade to process transactions quickly and efficiently. The platform supports chain abstraction and autonomous cross-chain execution through multi-party computation (MPC).
While NEAR is praised for its technical performance and low transaction costs, Mattie noted that its infinite max token supply is a drawback for long-term investors. NEAR currently trades at $2.40, with a market cap of $2.92 billion, after an 8.7% drop in the past day.
Related: Beat the Bear Market: Altcoin Buzz Unveils Top 5 Undervalued Gems
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
