As the cryptocurrency market enters June, the majority of assets are experiencing positive growth. However, as there are more than 25,000 cryptocurrencies available, not all of them are currently considered wise investment options. That’s why Weiss Crypto Ratings (WCR) and several rating agencies have taken into account historical price trends and recent developments. The institution listed the altcoin that investors might want to avoid in June 2023. Here are the details…
The first altcoin on the list: Kusama (KSM)
Kusama (KSM) remains on “to avoid” lists due to its low rating. Weiss Crypto Ratings (WCR) rates Kusama as ‘E-‘ or ‘very weak’ for adoption and technology and ‘D+’ or ‘poor’ for market performance. Also, Wikirating’s Crypto Rating Index (CRI) currently gives Kusama a ‘CC’ rating. Kusama, which is currently priced at $26.06, is up 0.13 percent in the past day. It also increased by 2 percent compared to the previous week. This increase is due to the news of the first connection with Polkadot (DOT) via Cosmos IBC. However, on the monthly chart, Kusama fell 15 percent.
Mina Protocol is also on the list
Mina Protocol (MINA) has become another cryptocurrency with low ratings. Wikirating’s CRI gave MINA a ‘CCC’ score. This showed the coin’s vulnerability to favorable commercial, financial and economic conditions to maintain its value. WCR rated MINA as ‘E’ or ‘very poor’ for technology/adoption. It is also rated ‘D+’ for market performance. Thus, the average grade is E+. Despite announcing a new regulatory compliance tool powered by zero-knowledge (ZK) proof for the decentralized finance (DeFi) and Web3 domains, MINA has lost 15.67 percent over the previous 30 days. However, the recent positive mood in the crypto market has pushed its price up 0.52 percent in the last 24 hours.
What is the rating of Bitcoin Gold (BTG)?
Bitcoin Gold (BTG) has received a ‘CC’ rating from both Wikiratings and TokenInsight. According to the platforms, this indicates high vulnerability. WCR rates BTG as ‘C-‘ or ‘fair’. This may indicate that investors interpret BTG as an asset to be avoided. It was rated ‘C’ for technology/adoption and ‘D+’ or ‘poor’ for market performance. cryptocoin.com As we reported, BTG, a fork of Bitcoin (BTC), introduces a new mining protocol that uses underlying GPUs. It showed a 3 percent increase in value during the day and 2.03 percent compared to the previous week. However, it has recorded losses of 8.52 percent over the past month.
The ratings provide insight into the riskiest altcoin projects to invest in right now. However, it is important to remember that this industry is highly dynamic and subject to rapid changes. Therefore, it is essential for investors to conduct thorough due diligence and research before purchasing any cryptocurrency.
