Bitcoin and altcoins have traded within a tight range recently as investors position themselves for June, which is historically one of the worst months for cryptocurrencies.
Bitcoin (BTC) was trading at $105,000, while the market capitalization of all coins has dropped from $3.6 trillion to $3.3 trillion.
If history repeats itself, this may be a tough month for the sector. As such, one of the common approaches is to consider altcoins with high staking yields to offset falling or stagnant prices. This article looks at the top three altcoins to buy with a staking yield of over 10%.
IOTA
IOTA (IOTA) is one of the top altcoins to buy for its staking yield. StakingRewards data shows that it has a staking yield of 14%, higher than most dividend stocks, exchange-traded funds, and government bonds.
IOTA activated staking in May when it launched the Rebased upgrade, which transitioned it into a proof-of-stake network. It also introduced superior speeds and full decentralization.
IOTA has a staking market cap of over $375 million, representing 43% of its market capitalization. It has seen a staking inflow of 212 million tokens worth $39 million in the last 30 days.
The main issue with IOTA is that its ecosystem remains negligible a month after the Rebased upgrade.
Bittensor
Bittensor (TAO) is another top altcoin to buy for income investors. It is one of the leading AI tokens, with a market cap of over $3.4 billion and a staking valuation of $2.4 billion. It offers a staking yield of 17.3%, meaning that a $10,000 investment would generate a $1,730 annual return.
Bittensor is seen as an AI token because it is a network designed to create a peer-to-peer marketplace for AI and machine learning models. TAO, its token, will likely do well as the AI industry continues growing.
Polkadot
Polkadot (DOT), established by an Ethereum co-founder, is a top altcoin to stake, thanks to its 11% yield. It has a staking market cap of $3.5 billion, which is about 53% of its market capitalization.
Polkadot has strong fundamentals, especially with the ongoing transition to Polkadot 2.0, which is now in its final stage. The upgrade has made it easier for developers to build applications without going through the parachain auction.
Elastic scaling, the final stage of the transition, has already moved to Kusama, ahead of the implementation on Polkadot. Also, as crypto.news has written before here, DOT price has formed a triple-bottom, pointing to a rebound.
