Altcoin
Here are five altcoins under $1 that could shine in this bull season
This article presents a curated list of five promising altcoins under $1, including The Graph (GRT), Sei (SEI), and Harmony (ONE), which could surpass expectations in this bull season.
The cryptocurrency market has recently entered a bullish phase, with the price of Bitcoin (BTC) hitting a new all-time high above $73,000 on March 14. However, the market’s latest bull trend, which began last October, has cooled, with most crypto assets posting double-digit losses over the past month.
However, most market analysts have presented the current recession, which has triggered a 12% collapse in the price of Bitcoin over the past month, as an opportunity for investors to boost their stocks before the market witnesses to another phase of rising prices.
In this prevailing sentiment, uncertainty revolves around which cryptocurrencies are worth betting on. While several market observers have called attention to the most notable altcoins, this article highlights some of the lesser-known ones that trade below the $1 mark but show the potential to shine during bull season.
The graph (GRT)
The Graph (GRT) functions as a decentralized protocol within the blockchain scene, indexing and organizing data to enable the creation of open APIs, called subgraphs. Developers use GraphQL to query these subgraphs for data indexed on the network.
In one of its recent bullish developments, The Graph introduced the Sunrise Upgrade Program, with a prize pool of GRT 4 million.
Democratize data. Revolutionize the web3. Earn GRT 🌅
The Graph Foundation just launched the 4 million GRT Sunrise Upgrade Program, enabling anyone on the Internet to revolutionize how the world accesses data.
Join and complete a series of fun onchain and offchain missions… pic.twitter.com/J7QP6zTLAu
— The Graph (@graphprotocol) May 2, 2024
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Santiment data reveals an additional 11,680 holders since January, surpassing the 160,000 total holders and reaching 161,880 at last check. At the same time, whale addresses, which hold between 10 and 100 million GRT, have accumulated over 200 million tokens since the end of February.
This positive momentum reflects growing investor confidence and substantial demand for the token, with GRT’s performance in the current bull market showing notable growth. It rose 504% from an August low of $0.0817 to a two-year high of $0.4940 in March.
Current statistics show a 44% year-over-year increase in the price of GRT. Despite a current trade value of $0.2654, which represents a 46% decline from the yearly high, The Graph’s resilience above the 200-day EMA ($0.2387) and its pursuit of significant resistance levels suggest a potential continuation of its bullish trajectory.
TokenFi (TOKEN)
TokenFi (TOKEN) is a pioneering entity within the Floki ecosystem for the tokenization of real-world assets. The platform boasts an intuitive interface, which allows for the generation and tokenization of assets without the need for programming skills.
As a participant in an expanding industry estimated to reach a valuation of $16 trillion by 2030, TokenFi is poised to emerge as a dominant player in the realm of asset tokenization. So is Ripple, a major blockchain payments company based in San Francisco exploring opportunities within this growing market.
TokenFi has witnessed a notable increase in investor confidence. A infusion of $10 million from DWF Labs into TokenFi TOKENS for the advancement of AI-based offerings triggered a 50% appreciation in its market price, culminating in a record high.
Reflecting on its market performance, TokenFi TOKEN has demonstrated impressive growth since its launch last October. Its value increased 642% since the beginning of January to a peak of $0.2464 on March 26. With its current price of $0.0950, TOKEN has appreciated 186% this year, positioning itself to take advantage of the market’s expected rise for further growth.
ANKR (ANKR)
Ankr (ANKR) is a Web3 infrastructure provider that provides development tools for blockchain technology. It offers multi-chain staking, node deployment, and API management services.
ANKR rose to the top spot among validators on Binance Smart Chain three years ago, significantly increasing its value and visibility. This growth has been supported by stronger fundamentals, new partnerships and integrations with major blockchain networks.
Ankr’s partnerships with Microsoft and Tencent Cloud and service collaboration with Storj have further solidified its position in the market.
In the current bull run, ANKR has shown positive growth trends. It is currently priced at $0.0447, marking a 56.4% increase this year, despite a 35% decline from its April 1 high of $0.0688. ANKR remains above the 200-day EMA of $0.0379 and, with a low CCI of -116, appears undervalued.
Six (SIX)
Sei (SEI) is a layer 1 blockchain created for trading platforms. It is known for its high transaction speeds due to a characteristic parallel architecture that allows simultaneous processing on various nodes.
Last April, the team harvest an investment of 30 million dollars to develop the blockchain. Sei’s infrastructure is adaptable and supports a wide range of applications, including decentralized exchanges, NFT marketplaces and gaming platforms, establishing itself as a multi-faceted framework.
In February, Devnet received a significant update, making it compatible with the Ethereum Virtual Machine (EVM). Interestingly, according to Santiment data, the project has seen a consistent increase in development activities.
Upon its launch in August, the SEI token secured listing on major exchanges such as Binance, KuCoin and Bybit, enhancing its market presence. Currently trading for $0.5225 with a market capitalization exceeding $1.4 billion, SEI is up 6,420% since inception and is on track for further gains.
In March, SEI hit a new all-time high alongside Bitcoin, reaching the $0.8 level and aiming for the coveted $1 milestone. Despite the market’s recent downturn, it has maintained its value above $0.5, and with an RSI of 39.90, there may be room for more growth.
Harmony (ONE)
Harmony (ONE) is a blockchain platform that simplifies the development and operation of decentralized applications (DApps). Use sharding to scale effectively, ensuring fast transactions with minimal delays.
Harmony has followed an upward trajectory with its recent releases announcement of a $300 million ecosystem fund. This fund is intended to attract developers and strengthen the creation of decentralized autonomous organizations (DAOs) within its network.
The ONE token plays a crucial role in the network, used for staking, transaction fees and governance. The token has posted a solid performance in the ongoing bull market.
Starting the year at $0.0187, ONE rose 112% to a two-year high of $0.0396 in March. Harmony has a history of significant growth, having risen 8.862% from $0.00424 in January 2021 to an all-time high of $0.38 in October of the same year. It is poised to continue this positive trend in the current market recovery.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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