The cryptocurrency market is down a little after stabilising over the past week. Its total cap is $991 billion, which is down 1% in a day but up 7.5% since Thursday. Most major coins have behaved similarly within the same timeframe, although some altcoins have outperformed the market. We collect them in this list of the 5 best cheap cryptocurrency to buy. This covers coins that have good long-term potential and are selling at a discount.
5 Best Cheap Cryptocurrency to Buy
1. Lucky Block (LBLOCK)
At $0.00101640, LBLOCK is down by 3% in the past 24 hours. However, it’s up by 2% in a week and by 15% in the past fortnight.
As with many smaller altcoins, LBLOCK’s progress has been stunted by the ongoing bear market. However, it remains up by 135% since launching at the end of January, so is still in the green despite lost potential.
Even with a disappointing few months, LBLOCK is now set up very well to post significant gains once conditions become more favourable. Not only has its native platform Lucky Block begun holding its regular draws, but it has passed the audit for its upcoming ERC-20 token.
V2 token audit passed! ✅
That means that we’re getting closer to listings on centralized exchanges! 🤩
— Lucky Block (@luckyblockcoin) June 23, 2022
What this means is that an Ethereum-based version of LBOCK is imminent. It had originally launched on Binance Smart Chain, yet a migration to Ethereum will open up significant liquidity for the coin. Likewise, it paves the way for more exchange listings, something which boost its market substantially. This is why it’s one of our 5 best cheap cryptocurrency to buy right now.
2. ApeCoin (APE)
APE has risen by 10% in the past 24 hours, to $5.44. It’s also up by 20% in the past week and by 56% in the last 14 days. It is, however, down by 13% in the past month and by 80% since reaching an ATH of $26.70 in April.
APE is enjoying a resurgence of sorts since coming down from its ATH. Its relative strength index (in purple) has climbed from around 20 in mid-June to nearly 70. This indicates some very good momentum, as does the fact that its 30-day moving average (in red) has overtaken its 200-day average (in blue).
ApeCoin has witnessed a variety of high-profile partnerships in recent weeks, explaining its mini-renaissance. For one, Bored Ape Yacht Club collaborated with major music publication Rolling Stone on a small series of NFTs.
Our new collab with @RollingStone is live and open to all! You’ve got 4 hours to shop the prints and 3 days to bid on the two 1/1 NFTs on @opensea. Print shop link, auction link, and details in 🧵— please only use the direct links posted here
— Bored Ape Yacht Club (@BoredApeYC) June 22, 2022
Bored Ape Yacht Club also recently held ApeFest 2022. Staging a variety of household name-level musicians, it has served to get it into the news again and resuscitate some of its early hype.
— MetaverseLawyer.eth (@MetaverseLawyer) June 24, 2022
More generally, ApeCoin continues to enjoy a steady stream of development and upgrades. This points to the fact that it’s a long-term venture, and is aiming to capitalise on growing interest in NFTs and Web3.
A report of all AIPs in progress can be found below. To read more about governance including how to submit an AIP as well as how to vote, visit: https://t.co/dJ5m2K4sYE pic.twitter.com/m9AcAphi4r
— ApeCoin (@apecoin) June 21, 2022
3. Cardano (ADA)
ADA is $0.493235 as of writing, representing a 2.5% drop in the past day. On the other hand, it’s up by 7% in the past fortnight and by 5.5% in the past month.
ADA’s indicators have improved from where they were in May. Still, its RSI and 30-day average remain down, suggesting that a rally is due sooner or later.
This suspicion is reinforced by native platform Cardano, which is witnessing an increase in transaction volumes and usage. It now records 24-hour transaction volume in the region of $8 billion – $10 billion, making it busier than Ethereum. It has also issued 5.3 million NFTs, while the number of dapps building on its network has passed 1,000.
The ecosystem is growing at a fast pace with 1003 projects already #BuildingOnCardano
Meet them by registering your attendance to the meetup here: https://t.co/maxUVW7pYV pic.twitter.com/s0X4DP8H48
— Input Output (@InputOutputHK) June 7, 2022
In addition, Cardano’s total value locked in is up to $126.81 million. This might not seem much, but it’s up from $1 million at the start of the year, indicating strong growth. This is why ADA is one of our 5 best cheap cryptocurrency to buy.
4. Tezos (XTZ)
At $1.66, XTZ is up by 7% in the past 24 hours. It has also risen by 14% in the past week and by 19% in the past fortnight, but has sunk by 15% in the last 30 days.
XTZ’s RSI has risen from nearly 30 in mid-June to 50. This rise could signal a breakout, with the coin’s 30-day average still having plenty of room left to rise.
A layer-one proof-of-stake blockchain, Tezos appears to be gaining traction action due to increased NFT activity on its network. For instance, it’s preparing for a 1-of-1 event on July 22, in which a range of artists will minus entirely unique NFTs for sale.
It’s been great to hear from Unknown, @misanharriman @ClownVamp and many others, how much they are looking forward to wandering the galleries, acquiring some stunning #1of1s. 1/2 https://t.co/nL9sV9hfZy
— 1/1 on Tezos – July ’22 (@1of1xtz) June 27, 2022
Another important development for Tezos is its Jakarta 2 network upgrade. This was successfully implemented yesterday, meaning that a number of scalability improvements have been implemented, as well as some security enhancements. This will make Tezos more usable in the long-term, which is why XTZ is one of our 5 best cheap cryptocurrency to buy.
5. Polkadot (DOT)
DOT has slipped by 4% in the past 24 hours, to $7.81. It’s also down by 1% in the past week, but up by 11% in the last 14 days.
DOT’s indicators have been depressed for nearly three months. This makes it overdue for a recovery rally, a view supported by Polkadot’s ongoing development. For instance, the layer-one blockchain has just completed its 20th parachain auction. Such auctions decide which projects will join the overall Polkadot network, with Polkadot itself acting as the central relay chain. By building itself out in this way, Polkadot aims to be a vastly more scalable network than many of its peers.
Congratulations to @Totem_Live_ on winning Polkadot’s 20th parachain auction!
Totem is building the world’s first peer-to-peer accounting consensus protocol in the Polkadot ecosystem, and over 800 network stakeholders locked up DOT in favor! pic.twitter.com/KWT4veGkD2
— Polkadot (@Polkadot) June 27, 2022
As part of its development, Polkadot also launched its XCM messaging system in May. This is a key component of its multi-chain architecture, and prepares it for growing substantially once the market reenters a bullish phase. As such, DOT remains very much undervalued, which is why it’s one of our 5 best cheap cryptocurrency to buy now.
After passing community vote, v0.9.19 has been enacted on Polkadot. This upgrade included a batch call upgrading Polkadot’s runtime to enable parachain-to-parachain messaging over XCM and upgrading #Statemint to include minting assets (like NFTs) and teleports. pic.twitter.com/uqIB5di2Q1
— Polkadot (@Polkadot) May 4, 2022
Capital at risk
- How to buy Lucky Block
- Guide to buying cryptocurrencies
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