Ethereum

Solana

Toncoin

The <a href="https://coingape.com/glossary/cryptocurrency/">cryptocurrencies</a> Ethereum (ETH), Solana (SOL), Binance (BNB), XRP, and Toncoin (TON) showcased notable increases in open interest this June. Their growing interest suggests they might offer promising returns next month. Given their strong performance and increasing investor interest, they are among the top <a href="https://coingape.com/best-coins-to-buy-in-bull-run/">altcoins to buy</a> for those looking to capitalize on potential market gains. 
<h2 id="span-style-font-weight-400-1-ethereum-eth-span">1. Ethereum (ETH)</h2> 
Ethereum (ETH), a decentralized blockchain system, hosts its native cryptocurrency, Ether. It is a hub for various other digital currencies and enables the operation of autonomous smart contracts. Initially proposed in a 2013 whitepaper by Vitalik Buterin, Ethereum came to life following a 2014 crowd sale event.&nbsp; 
<figure id="attachment_205091" aria-describedby="caption-attachment-205091" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-205091" src="https://coingape.com/wp-content/uploads/2024/06/Ethereum-price-chart-1.png" alt="5 Altcoins with The Highest Open Interest: June Edition" width="742" height="452" srcset="https://coingape.com/wp-content/uploads/2024/06/Ethereum-price-chart-1.png 742w, https://coingape.com/wp-content/uploads/2024/06/Ethereum-price-chart-1-300x183.png 300w, https://coingape.com/wp-content/uploads/2024/06/Ethereum-price-chart-1-150x91.png 150w" sizes="(max-width: 742px) 100vw, 742px">
 <figcaption id="caption-attachment-205091" class="wp-caption-text">
 Ethereum price chart
 </figcaption>
</figure> 
Currently, <a href="https://coingape.com/price/ethereum">Ether</a> is valued at $3,384, with a trading volume surpassing $11.47 billion in the past day. Despite a minor decline of 1.39% in the last 24 hours, Ethereum remains the second-largest cryptocurrency, boasting a market capitalization of $406 billion. In a dramatic uptick, ETH’s value has soared by over 82% recently, alongside a notable increase in market interest. 
<h2 id="span-style-font-weight-400-2-solana-sol-span">2. Solana (SOL)</h2> 
Solana (SOL) continues to lead the way in blockchain innovation, particularly in the decentralized finance (DeFi) sector. Its architecture is optimized for creating decentralized applications (DApps), leveraging a combined proof-of-history (PoH) and proof-of-stake (PoS) model to boost transaction speeds. 
Currently, <a href="https://coingape.com/price/solana/">Solana price</a> stands at $141, marking a 2% drop in the last day. Despite this, over the last year, SOL has surged by 736%. This data, sourced from defilLIema, highlights its network strength, seen in the increasing Total Value Locked (TVL) and active DApp usage. 
Since the start of the year, the growth in open interest highlights Solana’s strong stance in the competitive primary-layer cryptocurrency arena. It is now a key figure in the expanding altcoin market, as noted in “The Highest Open Interest: June Edition.” 
<h2 id="span-style-font-weight-400-3-binance-bnb-span">3. Binance (BNB)</h2> 
Binance (<a href="https://coingape.com/price/binance-coin/">BNB</a>), the world’s leading cryptocurrency exchange by daily trading volume, aims to revolutionize global finance through its extensive offerings. The name “Binance” blends the concepts of “Binary” and “Finance,” reflecting its innovative approach to financial markets. 
The Binance ecosystem extends far beyond its exchange platform. It includes Binance Chain, Binance Smart Chain, Binance Academy, Trust Wallet, and various research initiatives. Each element utilizes blockchain technology to redefine finance for a digital era. The Binance Coin (BNB) is crucial for the seamless operation of these services. 
As of June, Binance had the highest <a rel="nofollow" href="https://www.coinglass.com/BitcoinOpenInterest">open interest</a> in altcoins, with a staggering $18.70 billion. Today, the price of BNB stands at $569, marking a slight decrease of 0.91% over the past 24 hours. Despite this, BNB remains the fourth-largest cryptocurrency by market capitalization, now reaching $84 billion. 
<h2 id="span-style-font-weight-400-4-xrp-span">4. XRP</h2> 
XRP operates on a decentralized, scalable platform known for its quick and cost-effective transactions. This open-source cryptocurrency also boasts a minimal environmental footprint. Despite ongoing legal battles, including a significant case concerning alleged unlawful securities offerings, Ripple Labs, associated with XRP, prioritizes compliance and innovation. 
The value of <a href="https://coingape.com/price/xrp/">XRP</a> has recently declined amid a broader market pullback. Its price has fallen by over 10% in the last month, with a further 8% decrease this week alone. Currently, XRP is trading at $0.4755, continuing its downward trend. It is ranked seventh on CoinMarketCap, with a market capitalization of around $26 billion. 
<h2 id="span-style-font-weight-400-5-toncoin-ton-span">5. Toncoin (TON)</h2> 
Toncoin, created by Telegram, is making waves with its advanced layer-1 blockchain technology. This platform is distinguished by its scalability and ease of use, attracting a wide user base. It offers rapid transaction speeds and low fees, enhancing its appeal. 
<figure id="attachment_205094" aria-describedby="caption-attachment-205094" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-205094" src="https://coingape.com/wp-content/uploads/2024/06/Toncoin-price-chart-3.png" alt="5 Altcoins with The Highest Open Interest: June Edition" width="693" height="443" srcset="https://coingape.com/wp-content/uploads/2024/06/Toncoin-price-chart-3.png 693w, https://coingape.com/wp-content/uploads/2024/06/Toncoin-price-chart-3-300x192.png 300w, https://coingape.com/wp-content/uploads/2024/06/Toncoin-price-chart-3-150x96.png 150w" sizes="(max-width: 693px) 100vw, 693px">
 <figcaption id="caption-attachment-205094" class="wp-caption-text">
 Toncoin price chart
 </figcaption>
</figure> 
Toncoin price currently stands at $7.53, marking a 2% decline over the past day. It is the eighth-ranked cryptocurrency on <a rel="nofollow" href="https://coinmarketcap.com/currencies/toncoin/">CoinMarketCap</a>, boasting a market cap of $18.52 billion. Over the past year, Toncoin’s value has rocketed by 447%, underlining its dynamic growth and increasing market interest. 
<h2 id="span-style-font-weight-400-bottom-line-span">Bottom Line</h2> 
As open interest surges for Ethereum, Solana, Binance, XRP, and Toncoin, investors should watch these digital assets. Their potential for growth in July could be substantial, making them appealing options for portfolio diversification. 
The post <a href="https://coingape.com/markets/5-altcoins-with-the-highest-open-interest-june-edition/">5 Altcoins with The Highest Open Interest: June Edition</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

5 Altcoins with The Highest Open Interest: June Edition

Table of Contents

Coingape News Media

Other articles published on Jun 29, 2024

Bitcoin Rebounds at $60,400

Exploring Sui’s Object-Centric Model and the Move Programming Language

Chainlink (LINK) Whales Accumulate Despite Price Drop, Presenting Potential Buying Opportunity

Bitcoin Sentiment Resets as Key Price Indicator Hits Eight-Month Low

Binance’s mixed bag: Court dismisses some charges, not all

Top 5 Cryptos for Quick Gains: Bitgert, Notcoin, Toncoin, TRON, SafePal

Join our free newsletter for daily crypto updates!