As the dust settles from the recent crypto crash, investors are laying the groundwork for the next potential crypto bull run. With prices at record lows for several promising cryptocurrencies, now could be an ideal time for savvy investors to take positions in anticipation of the coming cycle. In this article, we shed light on the top 5 cryptos to buy under 1$ – a potentially lucrative opportunity for those willing to venture into the often unpredictable world of digital assets.
Are Cryptos UP in 2023?
The performance of cryptocurrencies in 2023 has been a rollercoaster ride, marked by steep climbs and even steeper drops. Despite these volatile swings, the overall crypto market cap has managed to ascend from $760 billion at the start of the year to a current valuation of $1.14 trillion, representing a notable increase of over 50%.
Nevertheless, this growth was not evenly distributed across the crypto landscape. Market heavyweights Bitcoin and Ethereum continued to strengthen their dominance, accounting for over 60% of the total market capitalization, and experiencing the lion’s share of growth. Conversely, smaller altcoins faced headwinds due to an aggressive crackdown by the Securities and Exchange Commission (SEC) on the crypto sector, resulting in less favorable performance.
Top 5 Cryptos to BUY under 1$in July 2023
#5 Harmony (ONE)
Harmony crypto commitment to providing a high-throughput, low-latency, and low-fee consensus platform, built to power the decentralized economy of the future, makes it a potential game-changer. Harmony’s current low price might not stay that way for long given its promising framework.
ONE’s price has been on a downward trend. However, we recently saw a small retracement higher. This might indicate a new uptrend to come soon. If the entire market goes back in an uptrend, ONE token should skyrocket in prices.
#4 Stellar (XLM)
Stellar, a decentralized blockchain platform that utilizes its native cryptocurrency Stellar Lumens (XLM) to enable fluid money transfers, has seen its prices surge by over 40% since the start of 2023. Despite the severe crypto crash during the year, Stellar managed to weather the storm and rise from 7 cents to 10 cents, demonstrating its strong fundamentals and the faith its user base has in its capabilities.
With the expected return of the crypto bull market, Stellar’s robust performance positions it as a potential asset for investors looking to capitalize on the next wave of crypto growth. However, any investment decision should be grounded in careful research and a consideration of individual risk tolerance.
#3 Cardano (ADA)
Cardano, a blockchain platform built for smart contracts, has had a volatile journey in 2023. The native cryptocurrency ADA saw a substantial increase in its value in the first quarter of the year, but the subsequent crypto market crash resulted in ADA’s prices receding back to their initial yearly level of $0.25.
Currently, ADA trades modestly above this level, at $0.28. Given Cardano’s robust technological foundation and the projected return of the crypto bull run, there’s an optimistic outlook for ADA to rebound significantly, potentially revisiting the important $1 mark it has reached in the past. However, investors should make decisions prudently, considering the inherent risks in the volatile crypto market.
#2 Polygon (MATIC)
Polygon, known for its Layer 2 scaling solution for Ethereum, has endured a tumultuous year in 2023. Despite starting the year at a promising $0.75 and gaining 60% in the first quarter, the cryptocurrency, MATIC, faced harsh backlash following the crypto crash and its inclusion in the SEC’s crypto blacklist.
The adverse impacts resulted in a sharp decline in MATIC’s price, plummeting to a low of $0.52. Fortunately, prices have stabilized and are currently hovering around $0.68. With its technological prowess and its potential to enhance Ethereum’s scalability, Polygon is likely to bounce back robustly once the overall crypto market fundamentals regain their positive momentum. Investors should closely monitor the developments and exercise caution given the market’s volatility.
#1 Tron (TRX)
TRON, recognized for its ambitious aim to decentralize the web, has demonstrated robust resilience amid the 2023 crypto crash. Starting the year on a strong note, TRX, TRON’s native cryptocurrency, has seen a remarkable uptrend, posting gains of over 50% to reach the current price of $0.08.
Despite the broader market turbulence, TRX’s steadfast upward momentum indicates it could soon cross the significant milestone of $0.1. Furthermore, given the favourable technical charts, TRX possesses the potential to climb even higher. As such, TRON presents itself as a promising opportunity for investors looking for robust performers amidst volatile market conditions.
Conclusion: Which Cryptos to Buy?
In conclusion, the ever-evolving world of cryptocurrency investments is rife with both opportunity and uncertainty. As the 2023 crypto landscape demonstrated, some cryptocurrencies soared while others experienced significant downturns. Given these fluctuations, a diversified portfolio can provide a buffer, spreading potential risks and simultaneously opening avenues for growth across multiple digital assets. Always remember, though, the golden rule of investing remains – do not put in more money than you are willing to lose.
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