As the crypto winter continues, Michael Byrne, an analyst at US-based investment and financial advisory firm The Motley Fool, drew attention to Cardano (ADA) and Solana (SOL) projects that should be on investors' radar in June.

Cardano is trading 78% below its all-time high of $3.10, which it reached last September. But despite the correction in the cryptocurrency market, Cardano started to gain momentum with a 17% gain over the past week. There are several reasons behind Cardano's rebound. At the end of May, the total value locked in Cardano increased by over 30% in one day, from $150 million to nearly $195 million. Thanks to various applications on the Cardano network, the total locked value and transaction volume have increased. While it's not immediately clear what caused the surge in activity, it could be a sign that more users are moving to the Cardano ecosystem, thanks to low transaction fees and higher transaction speed.


According to the analyst, the launch of the Iagon bridge connecting Cardano to the Ethereum blockchain is another catalyst. This bridge allows the transfer of tokens from Ethereum to Cardano or vice versa. Currently the bridge allows the transfer of USDC, but eventually it will also allow the transfer of other ERC-20 tokens. This will help attract more users to Cardano and encourage more activity. According to the analyst, attracting new users to Cardano, the upcoming update and whale accumulation make ADA a key coin to watch in June.

Solana, which has experienced a decrease of about 80% since the beginning of the year, failed to deliver what was expected this year. The cross section of the network and the sharp correction in the cryptocurrency market greatly affected SOL. A technical issue slowed down the network and temporarily disabled it. However, Solana is making progress despite all this. Recently, Solana's NFT sales surpassed Ethereum NFT sales for one day in May, making it the first time another ecosystem has overthrown Ethereum in a 24-hour period. Ethereum is the most established player in the NFT world, so beating the leader, even for a day, is a significant improvement. The launch of the Trippin' Ape Tribe collection played a key role in this success. Another Solana collection, Okay Bears, recently became the best-selling NFT collection for a day in April, surpassing many high-profile Ethereum collections.


There are striking developments in the SOL ecosystem that can accelerate the price. StepN, a “move-to-earn” application, has become one of the most discussed projects in the cryptocurrency industry. The project is built on the Solana Blockchain. With 2 million to 3 million monthly active users, StepN has likely brought a whole new set of users to the Solana ecosystem. It is likely that some of these users have not interacted with Solana or any other ecosystem before. The app has only been around for five months, so it's an excellent catalyst for both Solana and StepN. StepN's native token, GMT, has a market cap of $860 million. According to the analyst, these developments could add value to the SOL price.