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The next cryptocurrency will reach $1 in 2024
What will be the next cryptocurrency to reach $1 in 2024? With healthy trading volumes in the cryptocurrency market, savvy traders are looking for the best cryptocurrencies to buy right now.
The next cryptocurrency will reach $1 in 2024
Finding the next cryptocurrency to reach $1 in 2024 is, of course, not an exact science. Finding the best and cheapest cryptocurrency to buy in 2024 involves a few factors.
You can check the market cap, price, and what problem a project is actually trying to solve when considering the best cryptocurrencies under $1.
In this article, we have profiled a number of cryptocurrencies at various stages of their journey. We have outlined the 6 major cryptocurrencies that will reach $1 in 2024 and divided the first two sections into large and small cap coins.
The best low-cost cryptocurrencies to buy now
No one can ever tell you which cryptocurrency you should buy next. What we will do, however, is highlight a list of projects that are generally considered reliable and show potentially promising price history in their sub-$1 tokens. Let’s start with some of the highest cap coins.
The graph (TSL)
The graph (GRT) is a project aimed at making Web3 information easier to sift through online. For starters, The Graph is indexing all the information on the Ethereum network.
This means that, in theory, users will be able to open a Web3 browser and search for information about Ethereum, just as the Google search engine allows you to search for information about Web2.
For example, let’s say a decentralized app (dApp) needs to display historical and real-time price information for Ethereum or needs to read information from smart contracts on the network. These are tasks that would become easier, cheaper, and faster if The Graph were successful.
The Graph token is called GRT. It is currently trading at $0.31 with 24-hour volume of approximately $70,000 and a market cap of more than $3 billion. It is up 28% on the month and 166% on the year as interest in the project continues to grow.
Hedera Hashgraph (HBAR)
Hedera Hashgraph (HBAR) is a proof-of-stake distributed ledger, making it similar to Ethereum in many ways. However, Hedera’s documentation states its goal of being faster, more compliant, and more scalable than Ethereum. While faster transactions are easy to achieve for a project that doesn’t handle as many transactions as Ethereum, scalability is what’s really interesting.
Scalability is an important issue in Web3, referring to the effort to make blockchain networks usable for an increasing number of people without slowing down. Hedera is a popular contender to Ethereum, but obviously it has the disadvantage of not having as many integrated apps as Ethereum. However, it has attracted the attention of both retail and institutional investors.
HBAR is now priced at $0.11, up more than 100% this year. The market capitalization of the coin is $3.8 billion.
Stellar (XLM)
Stellar (XLM) focuses on making low-cost cross-border payments with cryptocurrency. In a way, the project has a similar goal to that of Ripple, but while XMR is primarily aimed at banks and institutions, Stellar’s XLM is primarily aimed at peer-to-peer remittance payments for average people and businesses .
The project is popular and considered reliable, especially after partnering with corporate giant IBM to handle cross-border payments on an industrial scale.
XLM is now trading at $0.10 and the price has remained relatively static for a cryptocurrency, fluctuating between $0.07 and $0.16 over the past 12 months. This could be seen as a positive trait for some traders, as consistent pricing and lower volatility can be considered healthy price consolidation. The relative strength index (RSI) for XLM is currently 44, which indicates that XLM is neither oversold nor overbought at this time.
Promising cheap cryptocurrencies for 2024
Let’s take a look at some of the best altcoins under $1. These projects have even smaller market caps that could promise buying for 2024.
It is important to remember that as a project’s market capitalization shrinks, the likelihood of price volatility and potential losses may increase. The next list suggests that the possible candidates for the best cryptocurrency to buy right now present a higher risk. You should always do your research and practice appropriate risk management before considering making an investment.
Basic Attention Token (BAT)
Basic Attention Marker (BAT) is the cryptocurrency associated with the Brave browser. The project aims to allow people to earn money for their online data and for watching and interacting with online advertisements. Alternatively, users can choose to simply block such ads. Brave is one of several projects helping to change the way we view our online data as an asset and shifting ownership of that data to the user rather than advertising companies.
BAT is the token that Brave uses to pay off its rewards. BAT is now trading at $0.23 with a market capitalization of approximately $368 million.
Harmony (ONE)
Harmony (ONE) is a project that seeks to make blockchain transactions fast and secure, an effort that would help apps on Web3 protocols run smoothly. Harmony finds consensus through Effective Proof-of-Stake (EPoS), its answer to PoS staking used by other major protocols.
The project also focuses on interoperability, meaning it can be connected with other blockchain networks. This compatibility with other projects is an important plus for investors, as it speaks to the potential longevity and future planning of the project.
ONE tokens are used to power the network. ONE is now trading at just $0.02 per token with a total market cap of $271 million, making it the lowest priced cryptocurrency in this article. The price has increased 43% in the last year.
The Next Cryptocurrency to Reach $1 – Flux (FLUX)
Flow (FLOW) provides to people decentralized cloud infrastructure. This is especially useful for anyone working on creating Web3 programs.
Web3 developers can use the computing power of a large computer network to test and run their programs without the very high cost of personally acquiring those computers. Flux is not the only project working on this type of technology and, in fact, their service is conceptually similar to the Amazon Web Services (AWS) solution for Web2. FLUX tokens offer discounted services for people using the platform.
FLUX is now trading at $0.94, making it a strong candidate for the next cryptocurrency to reach $1 in 2024. The market cap is $329 million at the time of writing and the price of FLUX has increased by 96% in the last 12 months. In our opinion, this is a very cheap cryptocurrency with high potential, which puts it in first place in our article
Choosing the best low-priced cryptocurrencies to invest in
There is always the temptation to invest in a low-priced cryptocurrency that is trending upwards. As always, it’s important to exercise caution in the crypto space. If you want the cheapest cryptocurrency with the most potential, you can quickly check indicators like RSI and MACD for more information on the performance of your chosen coin. You can also check out relevant news like partnerships and project updates.
The old mantra that says “never invest more than you can afford to lose” is often repeated in crypto circles for a reason. That said, we hope this list of cheap and potentially promising cryptocurrencies has been helpful in your search for the next cryptocurrency to explode in 2024!