Today, we’re taking another look at the crypto world, focusing on the top 3 cryptocurrencies that are still hanging out under $1 to watch out this weekend. Let’s take a look at this 3 cryptocurrencies to invest in article in more detail.
1. Algorand (ALGO)
ALGO, the cryptocurrency connected to Algorand technology, appears to be catching the eye of crypto fanatics nowadays with a stunning surge in its rate, climbing through 1.78% within the ultimate 24 hours to reach $0.1712.
According to marketplace facts from CoinMarketCap, the token’s trading volume and market capitalization additionally saw sizeable increase of 36.55% and 1.71%, respectively. What could be the reasons behind this price surge?
Alright, let’s break it down. First off, the Algorand Foundation just unleashed a brand-spanking-new Algorand API. This move’s been a game-changer for anyone keen on leveling up their multichain dApp game, and it seems to have had a pretty darn good impact on ALGO’s value.
Then there’s Algorand Ventures, the money folks behind Algorand. They’ve recently thrown their support behind Folks Finance, a platform for digital assets lending, borrowing, and trading. This move is all about spreading their wings across different chains. Folks Finance, a heavyweight in the Algorand DeFi scene, hit a record-breaking Total Value Locked (TVL) of $170 million by the close of 2023. That’s a mighty big deal and looks like it’s played a part in the surge in ALGO’s value.
2. XRP
In a whirlwind of recent events, the Ripple vs SEC lawsuit has seen an intriguing twist, swinging in Ripple’s favor as they secure an extension for the deadline on discovery requirements related to remedies. U.S. District Judge Analisa Torres gave the green light on Ripple’s motion for the extension, offering a boost to the digital payments network.
As a result, the Ripple-backed token saw a further surge, breaking past the $0.52 milestone today, February 9th.Despite a significant selloff by a whale today, the token managed to stay in positive territory as of press time, sparking further speculation about XRP’s potential climb to $2. Moreover, derivatives data for the token seemed to reflect today’s pump, fueling market optimism surrounding XRP.
3. Terra Classic (LUNC)
So, check it out, while the whole crypto market is bouncing back, Terra Classic (LUNC) is really making moves, up by a whopping 15% in just a week! What’s got everyone pumped? Well, it’s all about the community giving the thumbs up to a game-changing proposals.
They’ve voted to make it mandatory for all L1 developers to go through a know-your-customer (KYC) process. This move adds an extra layer of security while opening the doors wider for third-party developers to jump in and work their magic on the blockchain. Pretty cool stuff, right? It’s all about pushing the boundaries and keeping things safe at the same time.
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