As the crypto sector has continued to blossom, many speculative investors are searching for the best cheap crypto to buy now. Since the crypto industry launched in 2009 with the launch of Bitcoin, the first cryptocurrency, thousands of other coins have launched.
Today, crypto is a topic of discussion, even on mainstream financial networks. For those hoping to make a profit on crypto, one of the best ways to do it is to look for cheap crypto coins that may be undervalued. These coins have historically performed well but have lately run into headwinds. Here is a short list of such crypto coins.
Ripple XRP ($XRP)
XRP is a cryptocurrency built on the XRP Ledger, an open-source distributed ledger. Ripple, a company in the enterprise blockchain industry, created XRP. XRP aims to facilitate global financial transactions quickly and at a low cost.
Ripple had been embroiled in a legal tussle with the US SEC since December 2020; the SEC had claimed that Ripple had offered unregistered securities worth $1.3 billion. However, in July 2023, Ripple successfully argued in court that it violated US securities law.
At the start of October 2023, Ripple scored another victory when the Judge who issued the initial ruling rejected a motion to appeal by the SEC. A few days later, the SEC announced it would no longer pursue the matter. It marks a major victory for Ripple, which is now free to pursue its goal of making XRP an alternative financial transaction network powered by the blockchain.
Shortly after the SEC announced its decision on October 19, 2023, the price of XRP jumped from $0.49 to $0.53. It has maintained the upward momentum, and the price of XRP now stands at around $0.53. 24-hour trading volume has also continued to climb significantly, and it now stands at $1,074,223,629. It marks an increase of 49.93% in the past 24 hours.
Dogecoin ($DOGE)
Dogecoin is one of the original meme coins. it is one of the best cheap crypto to buy now. While it started as an internet joke, it is a serious coin for those who believe in it. It began with a low price of less than a penny on December 6, 2013. Its price currently stands at $$0.06382
On May 8, 2021, the price of $DOGE soared to $0.7376, its all-time high. Since then, it has struggled to regain its ATH. However, the Dogecoin community remains committed to the course, with some predicting a price of $1 per DOGE. With crypto experiencing a resurgence in recent days, holding a few DOGE could pay off in a huge way as interest in DOGE rises once more.
Polygon ($MATIC)
Polygon is a layer-2 chain built on top of Ethereum. Its goal is to increase the speed and lower the cost of Ethereum transactions. Since its founding, Polygon has received the backing of major players in the crypto sector, such as Binance and Coinbase.
Polygon’s relevance has receive a boost as the Decentralized Finance sector has grown. Since its applications are interoperable with Ethereum, it is an excellent option for developers seeking to build low-cost, fast, and efficient DApps.
Interest in MATIC has been rising quite fast recently. The trading volume is up 64.64% in the past 24 hours and currently stands at $508,153,274. MATIC’s price has also risen dramatically and is up 14.54% in the past seven days, now at $0.6019 per token. With a market of $5,602,562,160, MATIC is worth considering.
Cardano ($ADA)
Cardano is one of the best cheap crypto to buy now, costing $0.2632. The current price is far from its all-time high price of $3.10, which it achieved on September 02, 2021. Cardano has carved out a niche in the Decentralized Finance and NFT sectors.
Users prefer it for its low cost and high throughput. As interest in DeFi and crypto resurges, Cardano (ADA) could be one of the biggest beneficiaries. Its proof-of-stake consensus mechanism consumes little energy while still being a secure network.
Cardano is also working on an upgrade called Hydra, a scaling solution. Once fully implemented, it will make Cardano one of the most competitive Layer-1 blockchains in terms of scalability. The upgrade could propel Cardano to a higher position in the crypto space.
Stellar ($XLM)
Stellar is a blockchain built to work as a global payment network. Users use Stellar Lumen (XLM) to transfer value easily. The network is open to everyone. However, Stellar’s vision is to create a network for global financial institutions to transact easily.
The price of XLM has been volatile in the past year. However, it often follows the price of Bitcoin in terms of performance. With BTC recently showing an upward trajectory, the price of XLM will likely follow soon.
The price of XLM currently stands at $0.1121, an increase of 4.15% in the past seven days. Its 24-hour trading volume currently stands at $112,026,547, representing a massive 55.52% increase as of October 23, 2023. With a market cap of $3,119,007,094, XLM is a cryptocurrency worth considering.
Cheap Coins Are a Great Investment
Investing in the right crypto coin at the right time in history is essential for success in the crypto world. You only need to make a small investment to get into these relatively cheap coins, which could pay off massively. However, the crypto world is volatile, and it is essential to evaluate your risk appetite when making any investment decision.
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