Best Crypto Under 1$ that Have the Potential to Surge in 2024
For those interested in exploring beyond the popular cryptocurrencies and seeking to invest in lower-priced digital assets, we have compiled a list of promising cryptocurrencies under $1. This list aims to provide investors with the opportunity to explore new and potentially lucrative digital assets.
It seems like the cryptocurrency market is at the brink of another bull run as we advance into 2024. This is seen through an increase in the global crypto market cap alongside rising volumes of trading. This spark of interest is further fueled by the SEC's nod to the first Bitcoin ETFs and a remarkable rise in the value of Bitcoin now standing at $52,000.
Other than that, Bitcoin is set to start its next halving cycle in April of 2024, an event many are highly waiting for and may, like that in 2021, again lead to a bull run. While cryptocurrency has sharply inflated in price this year, leading cryptocurrencies with a price under $1 are still to be found. While, yes, indeed, most of the spotlight of investing is on the giants - Bitcoin and Ethereum - but there are so many smaller, much lesser-known, and promising cryptos available at a fair price.
There are several advantages of investing in cryptocurrencies priced under $1. This is because investors are able to spread their diversification into a number of projects for a relatively small investment given that they are able to get a substantial number of tokens. And this could be especially appealing to many people in terms of gaining exposure to a good number of digital assets without necessarily having to deploy large capital.
The list with cryptocurrencies below $1 is provided in case you'd like to discover new market segments outside the super popular coins and, actually, plan to invest in some cheap digital assets.
#1 - Ripple (XPR)
XRP is the native token of the Ripple network, which was created back in 2012 to offer banks and financial institutions advanced payment network services relating to transactions at an international level. Among cryptocurrencies priced under $1, XRP stands out with the highest market capitalization, boasting a valuation exceeding $30 billion at the time of this writing.
In 2023, the XRP coin for Ripple has seen tremendous value growth, lifted by a U.S. district court ruling, which determined that the sale of XRP to retail consumers had not violated securities law. Nonetheless, the U.S. The case is pending before the Supreme Court, and it is the market that is looking at it in terms of case SEC v. Ripple to deliver a judgment that could be favorable for Ripple.
Should Ripple succeed in the court case, then it will have humongous implications for the mass adoption that will see its current market value go up further. For now, XRP is priced at $0.51, making it a cryptocurrency that gives a lot of investing value to investors looking for promising currencies under a dollar. Moreover, the token's price has surged by more than 44% over the past year.
Source and Copyright: TradingView
#2 – Cardano (ADA)
Next on our list of top cryptocurrencies under $1 to consider is Cardano. Often referred to as the "Ethereum killer," Cardano is a proof-of-stake blockchain кnown for its scalability, speed, and eco-friendliness.
The Cardano community recently celebrated the launch of the SECP update, aimed at enhancing cross-chain decentralized application (dApp) development on its Plutus smart contract platform. This update is set to introduce advanced cryptographic functionalities to Cardano, empowering developers to build applications that can seamlessly connect with other blockchains.
Cardano is currently the world's eighth most valuable cryptocurrency, boasting a market capitalization of over $22 billion. Despite facing challenges in price performance throughout most of 2023, ADA began to gain momentum in mid-October, recording a price increase of over 25% in just a month. With a current price just under $0.6, attributed to its vast circulating supply of over 35 billion ADA tokens, Cardano presents an affordable investment opportunity.
Reflecting on its past performance, Cardano reached a high of $2.38 in the last bull market, suggesting that investors now have the opportunity to purchase this cryptocurrency at a discount of more than 90%. Cardano has gained nearly 27% over one month and nearly 58% within a period of one year.
Source and Copyright: TradingView
#3 - Tron (TRX)
Tron is an open-source blockchain, initially built on the Ethereum protocol before transitioning to its proprietary blockchain. This shift aimed to overcome some of Ethereum's limitations, such as high transaction fees and scalability issues.
TRON stands out as one of the rare cryptocurrencies that have been embraced as legal tender by a nation. A landmark agreement with Dominica's government has established TRON as a recognized currency within the country, a testament to the digital currency's stability and potential for widespread acceptance.
A recent strategic move by TRON involved a token burning event where 9.9 million TRX tokens were permanently removed from circulation, a decision that has positively influenced investor perception and market trends. This action contributed to a significant price adjustment for TRX.
The year has been promising for TRON, which has seen an impressive 25% increase in value over a single month and a remarkable 93% growth within a year. Currently, TRON's price stands at $0.136 USD, with a market capitalization nearing $11 billion USD.
Source and Copyright: TradingView
# 4 - Vechain (VET)
VeChain is a Layer-1 smart contract platform tailored for enterprise use.VeChain's goal is to change the way industries worldwide handle significant data challenges through distributed governance and Internet of Things (IoT) technology.
The VeChainThor public blockchain facilitates value management and creation through two distinct tokens: VET and VTHO. VET is not only used for storing and transferring value but also generates VTHO, which in turn is utilized to cover GAS expenses for data transactions, ensuring that VET's value isn't diminished in the process.
As of the latest update, VeChain's price stands at $0.04538, with the project boasting a market capitalization exceeding $3 billion. Over the past year, the token has witnessed a substantial price increase of nearly 65%, highlighting its growing relevance and adoption in the marketplace.
Source and Copyright: TradingView
#5 - Hedera (HBAR)
Hedera is a public network that utilizes Hashgraph, a novel distributed ledger technology (DLT) that differs from traditional blockchains. In Hashgraph, data is organized in hashes rather than blocks, yet it maintains blockchain-like functionality. This technology ensures transactions are validated through a combination of virtual voting and a gossip protocol, enhancing speed and efficiency.
The native digital currency of the Hedera network, HBAR, has a capped supply of 50 billion tokens and stands out for its energy efficiency. HBAR tokens are employed to reward network nodes for their contributions to storage, computing, and bandwidth.
Hedera currently holds the 36th position in market capitalization rankings and trades at approximately $0.09487. The price of HBAR has seen a notable increase of more than 22% in the last week and over 27% in the past month, stabilizing at the same price point of $0.09487. Given its recent performance and unique technological foundation, Hedera (HBAR) emerges as a compelling candidate for inclusion in the list of promising cryptocurrencies under $1.
Source and Copyright: TradingView
Key Factors to Consider in Evaluating Cryptocurrency Potential
Market Capitalization: Market Cap is essentially the coin's market value, calculated by multiplying its current price by the total supply. A higher market cap suggests that the coin is more robust and stable, though smaller cap coins also offer growth potential.
Price Dynamics: Analyzing historical price movements and volatility offers clues about the coin's stability and its potential future performance. Identifying chart patterns, along with resistance and support levels, can hint at forthcoming movements.
Recent News and Media Coverage: Keeping up with current developments and news can indicate how external factors like regulatory changes or technological advancements might affect the coin's value. Positive media coverage can boost investor confidence, whereas negative news can have the reverse effect.
Team Behind the Project: The team's skills, experience, and track record can significantly impact a project's success. A team with a clear vision and proven execution capabilities, along with transparency and activity, often indicates commitment and reliability.
Whitepaper and Website Exploration: The whitepaper outlines the project's objectives, technology, and roadmap in detail, explaining the problem the coin intends to solve and its strategy. The website should be informative, user-friendly, and regularly updated, demonstrating the project's professionalism and commitment to engagement.
Social Media and Community Engagement: A vibrant and active community around a project can strongly signal its potential. Engagement on platforms like Twitter, Reddit, and Telegram reflects user interest and support. Look for genuine interactions rather than just promotional efforts.
Security Audits: Security audits by reputable third-party firms are critical yet often overlooked aspects of a cryptocurrency's potential. These audits evaluate the project's smart contracts and blockchain infrastructure for vulnerabilities, bugs, and possible security issues. A comprehensive audit can confirm the project's security measures, safeguarding it against attacks and fraud.
Final Words
The cryptocurrency market is currently experiencing a significant bullish trend, signaling a surge in investment inflows and heightened investor interest. The tokens highlighted in this discussion stand out as the top performers in their categories, backed by solid fundamentals that position them as the premier selections for consideration in this article.
It's important to note that this article is intended solely for research purposes and does not serve as investment advice or recommendations. The content presented is aimed at providing insightful analysis and is not meant to influence financial decisions. We strongly encourage readers to conduct thorough independent research and consider their financial situation and risk tolerance before making any investment decisions.
