As the fifth month of 2023 draws to a close and June approaches, most assets in the cryptocurrency market they are turning a greener leaf. However, among more than 25,000 CRYPTOCURRENCIESmakes sense that not all of them are a good idea for invest in, at least for the moment.
Therefore, taking into account several crypto ratings, historical price trends, and the latest developments (or lack thereof), Finbold has managed to make it to the list of three digital assets that you would be wise to avoid getting involved with in June 2023.
Kusama (KSM)
Unfortunately for Kusama (KSM), continues to appear on 'avoid' lists mainly due to its low ratings, which according to Weiss Crypto Ratings (WCR), stop in 'E-' or 'very weak' for adoption and technology and a 'D+' or 'weak' for market performance (average rating is 'E'). At the same time, the asset has a 'CC' classification from Wikirating Cryptographic Classification Index (CRI), indicating that it is "currently very vulnerable" to failure.
As it stands, Kusama is currently changing hands at the price of $26.32, showing an increase of 2.30% over the past day and 3.97% over the previous week, driven by the news from the first connection to Polkadot (SPOT) through Cosmos IBC, although it has fallen 16.47% on its monthly chart, according to data retrieved on May 29.
Mine Protocol (MINA)
Another repeat offender with low ratings is Mina Protocol (MINE), which has been given a 'CCC' score by Wiki's CRI, suggesting that this crypto asset is 'vulnerable and dependent on favorable business, financialand economic conditions to remain valuable', while WCR has given it an 'E' or 'very weak' score in terms of technology/adoption and 'D+' for market performance (average 'E+' rating). .
Although advertisements of a new zero-knowledge (ZK) proof regulator compliance tool for decentralized finance (DeFi) and Web3 spaces, MINA has accumulated a loss of 15.67% in the last 30 days, although the recent positivity of the crypto market has pushed its price up by 0.52% in the last 24 hours and 1.29% to throughout the week.
Bitcoin gold (BTG)
Meanwhile, Bitcoin Gold (BTG) scored 'CC' ('highly vulnerable') from both Wikiratings and TokenInsight, while WCR has given it a 'C-' or 'fair' rating, which the investors can be interpreted as 'avoid' or 'hold', with a 'C' for technology/adoption and a 'D+' or 'weak' for market performance, as at press time BTG was trading at a from $13.47.
According to this price, BTG, which is one of the forks of DeFi's flagship asset Bitcoin (BTC) โ and has introduced a new mining protocol using basic GPUs, is posting a 4.70% increase on the day and 2.03% in the previous week, while posting losses of 8.52% in the last month.
Conclusion
While the ratings can give you a pretty good idea of โโwhich digital assets are the riskiest to invest in right now, it's important to remember that things can change quickly and easily in this sector depending on a number of factors, which is why you should do your due diligence. . and thoroughly researching an asset is crucial before you buy it.
Disclaimer: The content of this site should not be considered as investment advice. The investment is speculative. By investing, your capital is at risk.
