Are you looking for the next cryptocurrency to hit $1 in 2024? Due to the strong trading volume in the cryptocurrency market, savvy traders are looking for the best penny cryptocurrencies to buy right now. Identifying the next cryptocurrency to reach $1 requires considering factors such as market capitalization, current price, and the problem each project is trying to solve.
In this article, we have highlighted several cryptocurrencies at different stages of their journey. We have identified the top six cryptocurrencies likely to reach $1 in 2024 and categorized them into high-cap and low-cap coins.
The Best Low-Cost Cryptocurrencies You Can Buy Now
While no one can say for sure which cryptocurrency to buy next, we have compiled a list of reputable projects with promising price records for sub-$1 tokens. Let’s start with the higher denomination coins.
Graph (GRT)
The Graph (GRT) focuses on making Web3 information more accessible online. By indexing all information on the Ethereum network, The Graph aims to allow users to search Ethereum data much like Google allows Web2 search. For example, decentralized apps (dApps) that require historical and real-time price information on Ethereum or data from smart contracts can benefit from The Graph solution. Currently trading at $0.31, GRT has a 24-hour trading volume of approximately $70,000 and a market capitalization of over $3 billion. It increased by 28% monthly and 166% annually.
Hedera Hashgraph (HBAR)
Hedera Hashgraph (HBAR) is a proof-of-stake distributed ledger similar to Ethereum, but aims to be faster, more compliant, and more scalable. Scalability, a key issue in Web3, means making blockchain networks usable by more people without slowing down. HBAR’s price is $0.11, up more than 100% this year, bringing its market capitalization to $3.8 billion.
Stellar (XLM)
Stellar (XLM) aims to facilitate low-cost cross-border payments by targeting peer-to-peer money transfers for individuals and businesses. The project is popular and reputable, especially after partnering with IBM for industrial-level cross-border payments. XLM is currently trading at $0.10 and has maintained a relatively stable price range between $0.07 and $0.16 over the past year. This stability can be attractive to traders, with an RSI of 44 indicating it is neither oversold nor overbought.
We promise cheap cryptocurrency by 2024
Now let’s take a look at some of the more promising altcoins under $1 with smaller market caps that could be good buys in 2024. A smaller market capitalization can mean increased price volatility and potential losses, so it is important to always conduct your own research and practice appropriate risk management.
Basic Attention Token (BAT)
The Basic Attention Token (BAT) is tied to the Brave browser, allowing users to make money from their data and ad interactions or block it completely. BAT is transforming online data ownership from advertising company-centric to user-centric. Currently, BAT has a market capitalization of approximately $368 million and is trading at $0.23.
Harmony (One)
Harmony (ONE) aims to benefit apps on the Web3 protocol by making blockchain transactions fast and secure. Harmony’s Effective Proof-of-Stake (EPoS) ensures fast and secure transactions with a focus on interoperability with other blockchain networks. The ONE token is currently trading at $0.02 with a market capitalization of $271 million and fuels a network that has grown 43% over the past year.
FLUX
Flux (FLUX) provides a decentralized cloud infrastructure useful to Web3 developers who need computing power without the high cost of hardware ownership. Similar to Amazon Web Services (AWS) for Web2, FLUX offers discounted services to platform users. Trading at $0.94, FLUX has a market capitalization of $329 million and is a strong candidate to hit $1 in 2024, with a 96% price increase over the past 12 months.
Choosing the best low-cost cryptocurrencies to invest in
Although it is tempting to invest in popular low-cost cryptocurrencies, it is important to exercise caution in the cryptocurrency space. Use indicators such as RSI and MACD to gain insight into the performance of your chosen coin, and stay updated with relevant news, partnerships and project developments. Remember the mantra: “Never invest more than you can afford to lose.” We hope this list of cheap and promising cryptocurrencies will help you find the next cryptocurrency to explode in 2024!
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