The cryptocurrency market has recovered after a bad day yesterday. Its total cap has risen by just over 4% in the past 24 hours, to $2.37 trillion. Many major coins have risen by even larger percentages over the same time frame, with bitcoin (BTC) gaining by nearly 6%. Many cryptos remain down over the past week or month, however, although this present a good opportunity to buy coins on the cheap. Accordingly, we’ve compiled a list of the 5 best cryptocurrency to buy on low prices. This covers coin priced at around $100 or under.
5 Best Cryptocurrency to Buy On Low Prices
1. Polygon (MATIC)
MATIC is up by 11.5% in the past 24 hours, at $2.31. This represents a 27% rise in the past week and a 38% jump in the last 30 days.
MATIC’s indicators suggest that a breakout may be starting. Its relative strength index (in purple above) topped 70 earlier this morning, indicating strong momentum. Likewise, its 30-day moving average (in red) has just formed a golden cross with its 200-day average (in blue).
MATIC has had a strong month. It’s also had a great year, rising by just over 11,000% in the past 12 months. This is because, as a layer-two scaling solution for Ethereum, sky-high ETH fees have generated massive demand for its services.
By extension, it’s also generated massive demand for MATIC itself, which is used for staking and for paying transaction fees. And with Ethereum fees remaining significantly high, MATIC is likely to continue rallying as the largest layer-two scaling solution for Ethereum.
2. Terra (LUNA)
At $82.43, LUNA is up by 10% in the past 24 hours. This represents a 54% rise in the past week and an 81% rise in the past month. LUNA also set a new all-time high of $84.47 only a few hours ago.
LUNA’s chart shows that it has been on a strong rally for the past week or so. And with its relative strength index just under 60, it doesn’t seem as though its current rally is overcooked just yet.
LUNA is one of the native tokens of the Terra platform, which issues stablecoins. LUNA is used as part of the pegging mechanism of Terra’s stablecoins (e.g. UST), and it’s also burned whenever new UST (or any other stablecoin) is minted. So given that the supply of UST has increased by over 200% since the start of November, it’s little wonder that LUNA has rallied so strongly.
Terra also benefits from a range of new integrations and partnerships. For example, it launched the first Cosmos-native UST/LUNA trading pair less than one week ago, pointing towards its growing market. This is why it’s one of our 5 best cryptocurrency to buy on low prices, although it won’t be cheap for long.
1/ The first Cosmos-native perpetual LUNA/UST pair is now available for trading on @InjectiveLabs!
Users can also access LUNA/UST + UST/USDT spot pairs, with IBC functionality enabling native Terra – Injective transfers directly integrated with your Station wallet 😎 https://t.co/2FkyGiuZBH
— Terra (UST) 🌍 Powered by LUNA 🌕 (@terra_money) December 16, 2021
3. Avalanche (AVAX)
AVAX is another coin that won’t be cheap for long. It has risen by 16.6% in the past 24 hours, to $119.39. This price is a 51% jump in the past week, although AVAX is still 5% down compared to one month ago.
AVAX’s indicators also suggest that it could be on the cusp of a breakout rally. Its RSI is at 65, pointing to good growing momentum. And its 30-day average has just passed its 200-day, indicating the possible beginning of a rally.
AVAX has been one of this year’s big success stories. But at $119, it’s potentially only getting started, particularly when it’s supply is capped to 720 million.
Avalanche has, as a platform, attracted plenty of interest from big players this year. It famously drew in a $230 million investment in September, from Polychain Capital and Three Arrows Capital.
📢 BIG News 📢@Polychaincap and Three Arrows Capital led a $230M investment in the #Avalanche ecosystem to support growth of the platform.https://t.co/T141NFEoIG
— Avalanche 🔺 (@avalancheavax) September 16, 2021
Such fundraising has enabled Avalanche to continue growing and developing. Its total value locked has now risen to $12.33 billion, up from $500 million in the middle of August. It has also broken its active address numbers in the past week, testifying to its network’s organic growth.
Just the beginning https://t.co/rpjdEcaeiV
— stani.eth (👻,🐻❄️,🦎.🦎) (@StaniKulechov) December 14, 2021
4. Shiba Inu (SHIB)
At $0.00003281, SHIB is up by an impressive 12% in the past 24 hours. However, it’s down by a slightly 0.7% in the past week and by 31% in the past month.
SHIB’s indicators suggest that it’s overdue a rally. Its price had been steadily sinking since the start of the month. But judging by its RSI and 30-day average, it has just begun a surge to a new level.
Of course, as a meme coin, SHIB is always a risk. But with a strong community of followers, traders can never discount the possibility that it will rise strongly.
It also continues to welcome new adoption, with BitPay announcing on December 9 that it has begun accepting SHIB payments.
ATTENTION: #shibarmy, we’re excited to announce consumers can now pay and merchants can immediately accept Shiba Inu (SHIB) for payments. Read more: https://t.co/xnWbmqMdzX #SHIB #shibainu #crypto pic.twitter.com/zCretwh87S
— BitPay (@BitPay) December 9, 2021
This is why, despite its characterisation as a joke, SHIB is one of our 5 best cryptocurrency to buy on low prices.
5. Harmony (ONE)
ONE is today’s biggest gainer among top-1oo cryptocurrencies. It’s up by 17% in the past 24 hours, rising to $0.248783. This is also a 47% rise in the last week, although it’s down by 15% in the past month.
ONE’s chart is very similar to LUNA’s, indicating a sustained, steady rally over the past week. And despite good momentum, its RSI suggests that it isn’t overbought right now.
Harmony is a layer-one proof-of-stake blockchain that also offers a bridge to various other chains, such as Ethereum and Binance Smart Chain. Given that it offers low transaction fees and faster settlement times, this has made it increasingly popular in recent months.
It has been growing steadily ever since September, when it launched a $300 million development fund.
Today, we are announcing our $300 million ecosystem fund to accelerate 10,000 builders.
The @harmonyprotocol ecosystem has been growing exponentially and we aim to fund 10,000 more crypto founders, builders and creatives.
Let’s build the future together: https://t.co/6Yb9DoAa65
— Harmony 💙 (@harmonyprotocol) September 9, 2021
Since then, it has seen its ecosystem of apps grow substantially. It now boasts $600 million in total value locked in, up from just under $100m at the start of September.
The @harmonyprotocol ecosystem is growing everyday & getting more love from the ONE community 💙
Join our open community of builders, check out our public grants & proposals https://t.co/FrNevtnNap
Apply for grants: https://t.co/M4VzfKGl3B #HarmonyONE #blockchain2022 pic.twitter.com/i4hRfY9KlN
— Harmony 💙 (@harmonyprotocol) December 20, 2021
Capital at risk
Leave a Reply