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As May gets underway, the crypto market continues to feel the ripple effects of the Bitcoin-halving event from April. Traditionally, this should be a bullish catalyst for Bitcoin and the broader cryptocurrency landscape.
Nevertheless, this presents an opportunity to capitalize on the dip for the Altcoin Season post-halving. Numerous promising low-priced cryptocurrencies provide investors with an affordable entry point into the market. Consequently, InsideBitcoins has curated a list of the top five tokens that align with this description.
5 Best Cheap Crypto to Buy Now Under 1 Dollar
This comprehensive analysis offers traders some valuable insights for assessing the growth potential of various cryptoa. Many tokens priced below $1 are experiencing upward trends, signaling promising investment prospects.
Also, we look at outstanding investment options that investors can add to their watchlist. These low-cap cryptocurrencies each focus on real-world asset tokenization and blockchain innovation. These factors fuel our recommendation of these assets as potential portfolio additions.
1. Polygon (MATIC)
Polygon is a Layer 2 scaling solution built on the Ethereum blockchain. The token was developed to enable higher transaction throughput and lower transaction costs. MATIC, the native cryptocurrency of the Polygon network, is used for various purposes, such as paying transaction fees and staking.
Furthermore, Polygon leverages a proof of stake mechanism that utilizes staked MATIC to reach consensus on the network. By staking MATIC, holders secure the Polygon PoS and earn rewards. Also, validators implement Polygon Improvement Proposals (PIPs) and contribute to the decentralization of Polygon PoS.
Although the token experienced swinging price movements recently, it is valued at $0.6999. This price indicates a 8.04% growth over the past day. Despite these fluctuations and a slight dip over the previous week, investors are currently bullish about MATIC and are actively buying the dip.
Analysts predict a bullish breakout for Polygon, with potential targets at $1.2, $5.4, and even $55. Bixley compares the token’s price performance to Ethereum’s early days, suggesting a potential for significant upward movement if it breaks the trend line.
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— 0://wilder.frank (@realfrankwilder) May 1, 2024
Meanwhile, the price of MATIC has been trading in a Channel Down pattern. A breakout from this channel and above the $0.75 resistance could signal a bullish trend reversal, with potential upside to $0.901.
2. Polkadot (DOT)
Polkadot’s technology, at its core, fosters interoperability. Its primary aim is to connect several blockchains to enable seamless data sharing and collaboration. The project’s high liquidity demonstrates investor’s confidence in its potential.
Furthermore, DOT has exhibited price stability that aligns with the broader cryptocurrency market. The token is valued at $6.96. This price reflects a modest increase of 7.67% over the last 24 hours.
Meanwhile, it boasts a 24-hour trading volume of $829.35 million and a market capitalization of $6.47 billion. Despite its recent performance, Polkadot has demonstrated a 14% price increase over the past year. It signifies positive growth compared to its initial token sale price.
Sentiment analysis indicates a bearish outlook in the short term, as the Fear & Greed Index currently stands at a neutral 54. However, the 14-day Relative Strength Index (RSI) sits at 65.51, suggesting a neutral stance and the potential for upward movement soon.
3. eTukTuk (TUK)
eTukTuk is on the brink of a significant milestone in its presale, having raised over $3 million. The project aims to enhance sustainable transportation worldwide, particularly in developing countries. It seeks to achieve this through providing electric vehicles (EVs) and charging stations.
Furthermore, eTukTuk has forged partnerships with key organizations to support its mission. These collaborations position eTukTuk well in promoting sustainable transportation. It focuses on regions where tuk-tuks are crucial in daily travel and trade.
Moreover, the presale target for eTukTuk is $10.7 million. They have meticulously planned their token distribution, with 21.5% set aside for staking rewards to encourage long-term investment. Liquidity receives 7%, and 9.75% is allocated for the presale, ensuring a balanced distribution.
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— eTukTuk (@eTukTukio) May 1, 2024
Meanwhile, eTukTuk plans to list its token TUK on exchanges after the presale. This move intends to simplify the process of investors trading the token. It also demonstrates its commitment to real-time green initiatives powered by advanced technology.
eTukTuk continues to gain traction through its integration of sustainable solutions and innovative technology. This unique blend makes it attractive to investors looking for environmental and financial gains.
4. Ripple (XRP)
Recently, Ripple developers proposed direct lending on the blockchain, which could potentially impact the price of XRP. Also, the project has locked 800 million XRP into Escrow, sparking speculations in the market. Furthermore, Ripple Labs has released 500 million XRP from escrow, sparking discussions within the community.
Consequently, XRP has surged to a record high in millionaire addresses, indicating a possible bullish trend. The most recent report highlights an impressive XRP 4.21 price spike, reaching as high as $0.5137 today. Over the past six weeks, the number of wallets holding at least 1 million XRP has risen by 3.1%, approaching an ATH.
These whales exert significant influence on price movements through their substantial trading activities. Moreover, the growing number of whales reflects increasing confidence in XRP’s prospects. The accumulation by high-net-worth individuals may contribute to the current XRP price rally.
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— Ripple (@Ripple) April 30, 2024
Besides, there has been a surge in Ripple’s profitable supply. Following the recent rally, over 77% of the XRP supply is profitable, representing nearly 78 billion XRP. This trend is expected, as higher prices usually make a more significant portion of the supply profitable.
5. Graph (GRT)
Graph streamlines access to blockchain data for developers building apps. It indexes Ethereum, POA, and IPFS data, intending to incorporate additional networks. Recent trends suggest a favorable position for the token. This prediction is supported by its significant growth in trading volumes and investor interest.
Meanwhile, GRT is trading at $0.2378, reflecting a modest intraday increase of 4.74%. Its YTD price surged 118%, outperforming 57% of the top 100 crypto assets. Furthermore, the token trades above the 200-day simple moving average, signaling an uptrend. Market sentiment towards GRT remains bullish, with the Fear & Greed Index at 71 (Greed).
Furthermore, the coin has experienced 15 green days out of the last 30, highlighting its resilience and market demand. Analysts anticipate an average price of approximately $0.49 for Graph in 2024, with a potential maximum trading price of around $0.59.
The trend reflects the increasing confidence in AI altcoins. Specifically, GRT has rewarded its early investors since its inception in 2021, owing to its limited token supply and strong community support. Moreover, the coin reached an all-time high (ATH) of $2.88 in February 2021.
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