The cryptocurrency market is currently experiencing a significant surge, drawing the attention of investors worldwide. While Bitcoin and Ethereum continue to dominate headlines, there’s a growing interest in more affordable altcoins. These budget-friendly options offer investors with a higher risk tolerance an opportunity to diversify their portfolios and potentially reap substantial gains in the upcoming bull market. Here are 3 cryptos to buy priced under $7.
Crypto Price Analysis: Time To Buy?
Over the past week, the cryptocurrency market has shown notable fluctuations in terms of market capitalization and Bitcoin dominance. Here’s a breakdown based on the data from CoinMarketCap:
Market Cap Trends
The total market cap of cryptocurrencies has been oscillating. On November 15, 2023, the market cap was approximately $1.36 trillion, which increased to around $1.44 trillion on November 16. However, there was a slight dip to $1.38 trillion on November 17, followed by a gradual increase to $1.42 trillion by November 21. This indicates a somewhat volatile market within the week.
7-Day and 30-Day Performance
The market has experienced ups and downs over the past 7 days, reflecting the inherent volatility of the crypto market. Over a 30-day period, this trend is more pronounced, with significant fluctuations in market cap values. These movements suggest a market that is responsive to external factors and investor sentiment.
Bitcoin Dominance: Still King
Bitcoin’s dominance in the market has been relatively stable but shows a slight increasing trend. Starting from 50.90% on November 15, it rose to 51.67% by November 21. This increase in dominance indicates that Bitcoin, despite market fluctuations, continues to hold a significant position in the cryptocurrency market.
Altcoin Market Cap: Steadily Growing
The altcoin market cap also showed variability. It started at around $669.9 billion on November 15 and reached approximately $699.8 billion on November 16, before fluctuating and settling at about $685 billion by November 21. This reflects the dynamic nature of altcoins and their sensitivity to market changes.
Top 3 Cryptos to Buy under $7 Next Week
#3 Uniswap (UNI)
Uniswap, known for its revolutionary automated market maker (AMM) model, has transformed the landscape of decentralized cryptocurrency exchanges. This model allows for direct token swaps on the blockchain without intermediaries, making it a preferred platform for trading new crypto assets. Uniswap remains the most active decentralized exchange in terms of trading volume, thanks to its innovative approach.
UNI token holders govern the Uniswap protocol, with the ability to submit and vote on proposals. Initially distributed through an airdrop, UNI tokens are now widely available for trading. The protocol has expanded its offerings, including a non-custodial mobile wallet compatible with Ethereum and layer 2 scalability platforms like Arbitrum and Optimism.
As of now, UNI is trading at approximately $5.23, with a market cap of over $3 billion. It once reached a high of $42.4, suggesting potential for significant growth in the next bull market.
#2 ApeCoin (APE)
ApeCoin (APE) is a unique player in the crypto space, focusing on collectibles, NFTs, content creation, gaming, and the metaverse. As part of the Ethereum ecosystem, APE has garnered attention for its involvement in various innovative sectors.
Currently trading at around $1.53, ApeCoin has a market cap of approximately $563 million. With a 24-hour trading volume of over $121 million and a recent price surge of over 10%, APE demonstrates strong market activity and potential for growth.
#1 THORChain (RUNE)
THORChain (RUNE) operates as a decentralized exchange token within the Cosmos ecosystem, emphasizing DeFi and DEX functionalities. Its robust Proof-of-Stake consensus mechanism ensures secure and fast transactions.
RUNE is currently priced at about $5.19, with a market cap nearing $1.75 billion. The token has experienced a remarkable 193% increase over the past 30 days, indicating strong momentum and potential for further appreciation.