{"id":586943,"date":"2024-10-14T04:54:17","date_gmt":"2024-10-14T04:54:17","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=586943"},"modified":"2024-10-14T04:54:17","modified_gmt":"2024-10-14T04:54:17","slug":"5-best-cheap-cryptos-to-invest-now-under-1-dollar-october-13-ethena-mina-fantom-chiliz","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/5-best-cheap-cryptos-to-invest-now-under-1-dollar-october-13-ethena-mina-fantom-chiliz","title":{"rendered":"5 Best Cheap Cryptos to Invest Now Under 1 Dollar October 13 \u2013 Ethena, Mina, Fantom, Chiliz"},"content":{"rendered":"

The crypto market is showing renewed strength, leading to notable improvements in the performance of various altcoins. Over the last 24 hours, several altcoins have seen substantial gains. Aptos (APT) has risen by 17.2%, while Sui (SUI) has increased by 8.6%, suggesting a shift in sentiment toward the altcoin market.<\/span><\/p>\n

The Altcoin Season Index also displays an inverse head-and-shoulders pattern, which indicates a potential bullish trend that has yet to be observed in over three years. Analyst Moustache shared a positive outlook, noting that “the struggles of recent years will soon fade away.” Hence, this article aids investors by providing a list of the best cheap cryptos to invest now under 1 dollar.<\/span><\/p>\n

5 Best Cheap Cryptos to Invest Now Under 1 Dollar<\/b><\/h2>\n

Ethena, an Ethereum-based decentralized finance (DeFi) project, has experienced significant growth in its native token, ENA, alongside its stablecoin, USDe. Mina Protocol is valued at 0.558, marking a 5.05% rise in the past 24 hours. Meanwhile, Chiliz (CHZ) is trading at 0.074763, reflecting a 5.14% increase over the same period, with a 35% rise in value over the past year.<\/span><\/p>\n

In addition, Crypto All Stars ($STARS), a meme coin gaining traction in the crypto world, has been drawing attention. Fantom (FTM) is priced at 0.662887, showing a 4.61% decline in the last 24 hours as of October 13, 2024. <\/span>Bitcoin<\/span><\/a> has rebounded to 62,000 as the market closely monitors economic trends.<\/span><\/p>\n

1. Ethena (ENA)<\/b><\/h3>\n

Ethena, an Ethereum-based decentralized finance (DeFi) project, has seen notable growth in its native cryptocurrency, ENA, and its stablecoin, USDe. Recently, ENA’s price rose by 25%, reaching $0.35, and its market capitalization surpassed $920 million. ENA’s daily trading volume surged 180%, hitting $233 million.<\/span><\/p>\n

A key development for Ethena is its USDe stablecoin, which has rapidly gained traction, reaching a market value of $3 billion. This growth positions USDe as a competitor to Tether’s widely used stablecoin. According to crypto trader Eugene Ng Ah Sio, Ethena aims to elevate USDe from a DeFi-based token to a widely recognized stablecoin.<\/span><\/p>\n

The unique structure of USDe enables users to invest $1, which is split between staked ETH and a short position on ETH, creating a delta-neutral strategy. This setup generates returns, with yields for sUSDe ranging from 10% to 13% annually, which has helped boost its popularity. In just seven months since its launch, USDe has attracted $3.7 billion in total value locked.<\/span><\/p>\n

\"ENA<\/p>\n

USDe also benefits from its yield premium, offering 5-8% above the Federal Reserve’s funding rates, making it appealing for those seeking higher returns. This gap could grow with recent interest rate cuts, further enhancing USDe’s attractiveness.<\/span><\/p>\n

The potential launch of another stablecoin, UStb, could further support USDe’s growth. The significant increase in ENA’s value, rising by 60% in the past month, signals a broader market recovery and growing interest in the project. In summary, Ethena’s USDe stablecoin stands out due to its secure structure and competitive yields, positioning it to challenge established players like Tether. Its rapid expansion suggests it may become a prominent force in the stablecoin market.<\/span><\/p>\n

2. Mina (MINA)<\/b><\/h3>\n

The current price of Mina Protocol is $0.558, reflecting a 5.05% increase over the past 24 hours. Over the last year, its value has risen by 55%, signalling notable growth. Furthermore, in the last 30 days, Mina has experienced 18 “green days,” meaning the daily close price was higher than the daily open price on 60% of those days. This suggests a consistent upward momentum, which may appeal to investors looking for short-term trends.<\/span><\/p>\n

In addition, the Mina Protocol benefits from high liquidity in its market capitalization. This aspect generally makes buying or selling the asset easier without causing significant price fluctuations, enhancing its attractiveness to traders. As of October 13, 2024, the overall market sentiment remains bullish, supported by 23 technical indicators that point toward potential positive movement in the near term.<\/span><\/p>\n

\"MINA<\/p>\n

In the upcoming week, predictions suggest that Mina’s price could range between $0.561 on the lower end and $0.770 on the higher end. If the asset reaches the upper target, it would represent a 37.39% increase by October 21, 2024. While this forecast seems optimistic, it is worth considering this range’s lower and upper bounds to account for possible market fluctuations.<\/span><\/p>\n

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Latest tech updates from @zkon_network<\/a> 🔥<\/p>\n

ECDSA for zkApps = verify Ethereum data on Mina<\/p>\n

ZKON SDK = easily integrate zkOracle data in zkApps@ZkNoid<\/a> VRF = providing verifiable randomness for a lottery game (coming soon) https:\/\/t.co\/vM2nte0RCw<\/a><\/p>\n

— Mina Protocol (httpz) 🪶 (@MinaProtocol) October 12, 2024<\/a><\/p><\/blockquote>\n