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5 Cheap Cryptocurrency for Short-Term Gains June 2022 Week 2

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cheap cryptocurrency for short-term gains
cheap cryptocurrency for short-term gains

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The past week has produced relatively minor gains for the crypto market, indicating that coins are still on the road to recovery. Investor sentiment remains mixed, and pressure from the traditional stock market continues to weigh on coin prices.

However, finding the right cheap cryptocurrency for short-term gains can help investors to optimise their chances of profitability. We have outlined some of these coins below and the possible catalysts for price gains.

1. Lucky Block (LBLOCK)

Our best cheap cryptocurrency for short-term gains is Lucky Block’s token, LBLOCK. Lucky Block is a blockchain gaming platform looking to optimize fairness and transparency in online gaming. The platform intends to become the industry leader in the $230 billion gaming industry.

LBLOCK Price ChartLBLOCK is the ticket to all of Lucky Block’s games and activities. Users can buy the coin to play games on the platform. They can also speculate on the coin’s price as well.

With a current price of $0.0012, LBLOCK is riding an impressive 9.09% jump in the past month. The digital asset has so far performed better than most coins, especially in the large-cap region.

There’s another reason to buy Lucky Block beside the amazing price gain. The platform’s developers recently announced a $2 million prize pool and non-fungible token (NT) distribution. Lucky Block is leveraging these activities to increase brand recognition, and the results have been spectacular thus far.

There have been several winners of the Lucky Block prize pool and NFT giveaway. LBLOCK holders can enter the prize pool if they hold $500 worth of LBLOCK tokens or if they buy $5 worth of tickets. Meanwhile, entry into the NFT giveaway is based on the ownership of Lucky Block’s Platinum Rollers Club NFTs.

We expect to see even more activity on Lucky Block, and this should improve LBLOCK’s price in the short term.

2. Cardano (ADA)

Cardano is one of the most important and most popular blockchain protocols in the market. It has been on an impressive development spree. This spree began with the Alonzo hard fork in September 2021 that brought smart contracts to the blockchain.

ADA Price ChartThe platform’s token, ADA, currently trades at $0.58. The crypto asset is up by 5.45% in the past month alone, managing to deliver gains despite the market downturn.

Presently, investors are expecting the Cardano’s Vasil hard fork. According to Cardano’s developers, the hard fork is expected to bolster transaction scalability and reduce transaction time.

Several investors have already shown a lot of positivity concerning ADA’s price trajectory in the short term, at least during the launch of the Vasil hard fork.

3. Polygon (MATIC)

MATIC is another cheap cryptocurrency for short-term gains. The digital asset is Polygon’s native token. Polygon is a layer-two protocol built on the Ethereum blockchain that allows developers to enjoy Ethereum’s resources and access while preventing them from facing scalability issues or dealing with gas fees.

MATIC Price ChartMATIC currently trades at $0.61. This price peg reveals a drop of 15% in the past month and an opportunity for investors to buy Polygon at a bargain price.

Despite the price drop, MATIC remains in a good position. Polygon Studios, the developers of the Polygon network, has been making significant moves to expand. They recently launched an uncapped fund to encourage developers on the recently-collapsed Terra blockchain to move to Polygon.

With Terra having one of the broadest stablecoin catalogues in the market, a migration of developers to Polygon could bring a massive increase in activity.

4. Dogecoin (DOGE)

Dogecoin has maintained its position as the market’s leading meme coin. The digital asset’s position among coins in its sub-category is intact and in no immediate danger of being usurped.

DOGE Price ChartTrading at $0.076, DOGE is down by 13.63% in the past month. Like many other large-cap coins, the asset’s price has been significantly affected by the market downturn. However, investors remain optimistic about DOGE’s chances.

A major reason to buy Dogecoin is its position in the market. DOGE is one of the most valuable assets in the market, and it leads all meme coins. We believe that DOGE – being the market leader – will see big gains when the market flips bullish.

5. Algorand (ALGO)

Rounding out our list of cheap cryptocurrency for short-term gains is ALGO. The digital asset is the native token of Algorand, a proof-of-stake (PoS) blockchain that is looking to usurp Ethereum and become the top dog.

ALGO Price ChartALGO currently trades at $0.3. The asset is down by 33% in the past month.

Irrespective of the downturn, ALGO is sure to see a bit of a boost going forward. Last month, the blockchain’s developers announced a partnership. Algorand is the official FIFA blockchain partner. And they’ll focus on providing an official wallet for the games as well as offering a digital strategy for the football governing body.

When the World Cup begins, we believe that more people would have a reason to buy Algorand, and the digital asset’s price will see a boost.

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