Top 10 Altcoins Under $1 to Invest in 2024
After experiencing great ups and downs in the crypto industry, we are now on a path to experience another rollercoaster trading in 2024. After a really exciting year of trading in the crypto world, get ready for another wild ride. We have the Bitcoin and Ethereum Spot ETF coming soon, plus the highly anticipated Bitcoin Halving event. This means the cryptocurrency market is about to take a big step into the future of finance. Every day, the crypto space is growing fast, finding better ways to solve problems by making things safer and faster, all while cutting down on fees for users. In this writing piece, we are discussing about Top 10 Altcoins Under $1 to invest in 2024 for better returns.
Crypto Market Recap in 2023
The year kicked off with a big jump in the market’s value, bringing it to around $850 billion. Despite some rocky moments, like the Terra crash, where things looked pretty shaky, the market held steady. Bitcoin, the big player in the market, saw a rise of 160% increase in its value this year, contributing to the overall growth.
One significant event was the collapse of traditional banks in the West, which pushed more people towards cryptocurrencies as an alternative way to handle money. There were also some big wins for altcoins, with upgrades and more institutional investors jumping into the mix. Ripple, for example, scored a victory over the SEC in a long-running lawsuit, which boosted both its token, XRP, and other altcoins. Overall, it’s been a year of growth and positive changes in the crypto world.
Altcoin Market
Bitcoin is still the big player, holding over half of the market share at around 52.2%, with each Bitcoin trading at about $43,000. At the start of the year, Bitcoin’s dominance was lower, at 39%, and its price was just under $17,000.
But investors are showing more interest in altcoins, the other cryptocurrencies besides Bitcoin. This suggests there could be some significant price movements coming up. One of the top altcoins, Ethereum, has been getting a lot of attention since it made a major upgrade earlier in the year.
Many altcoins have seen big increases in their value this year. Some standouts include Kaspa, Injective, Dogecoin, Render token, and others. Experts are predicting that the upcoming all-season, where altcoins tend to do well, could see many of them hitting new all-time highs. These tokens are getting stronger fundamentals and attracting more investment every day.
Top 10 Altcoins Under $1 to Invest in 2024
Ripple’s XRP
Ripple’s XRP token is one of the Top 10 Altcoins Under $1 serves primarily for promoting cross-border transactions and is recognized for its exceptionally low gas fees. Operating on a distinctive mechanism, it relies on trusted validators to determine which transactions to prioritize. With a maximum supply of 100 billion tokens and a circulating supply of 54 billion tokens, XRP holds a significant position in the cryptocurrency market. Currently ranked sixth in terms of market capitalization at $33.51 billion, XRP has reached an all-time high of $3.84 but currently trades at a discount exceeding 83%.
Despite its current discount, XRP has experienced a remarkable growth of over 80% in its portfolio, signaling a rising bullish sentiment among crypto investors. Analysts predict that XRP’s price may surpass the $1 mark in 2024, presenting a potential buying opportunity ahead of a potential rally.
Cardano
Cardano is one of the Top 10 Altcoins Under $1 uses a special blockchain system called Ouroboros, which is different from the usual way of confirming transactions called proof-of-work. Instead, it relies on proof-of-stake, where people who own Cardano tokens can help manage the network.
There are currently 35.34 billion Cardano tokens circulating, and the maximum that will ever exist is 45 billion. Cardano’s tokens rank eighth in the market, with their highest value reaching $3.10 in the last big price increase.
This year, the value of Cardano has gone up a lot, increasing by over 140%. It’s also broken through a big barrier in its price and is expected to reach the next important level of $1.15 in the next year.
Polygon
Polygon’s is one of the Top 10 Altcoins Under $1 main token, MATIC, works on a special way of agreeing on transactions called Proof-of-Stake (PoS). MATIC tokens are used for all transactions within the Polygon network. When more projects use Polygon, the price of MATIC tokens can go up.
There are a maximum of 10 billion MATIC tokens that can ever exist, and currently, there are 9.55 billion in circulation, which is about 95.55% of the total. Polygon’s ecosystem ranks fifteenth among cryptocurrencies with a market value of $7.60 billion. The token currently trades at a discount of 73.25% from its highest price ever, which was $2.92, seen during the last big surge in prices.
This year, MATIC’s price hasn’t changed much, going up by less than 5%. However, it has strong basics and is considered one of the most interesting projects in blockchain technology today. Analysts predict that the price of MATIC will likely reach $1.5 soon, potentially doubling its value.
Kaspa
Kaspa joined the crypto world in 2021, using a system called Proof-of-Work (PoW) and following the GHOSTDAG protocol. This new way of doing things aims to fix the balance between Decentralization, security, and scalability. There are just over 22 billion KAS tokens available, and the most that will ever exist is 27 billion. KAS tokens are valued at a market cap of $2.47 billion, ranking 36th among the top cryptocurrencies. Its highest price ever reached was $0.154, and currently, it’s trading at a discount of just over 25%.
Kaspa’s token has performed remarkably well compared to Bitcoin and other top cryptocurrencies, with its value going up by over 2,000% this year alone. Additionally, the growing interest from investors suggests the potential for a 10x return in the next major surge in prices.
Dogecoin (DOGE):
Dogecoin is one of the Top 10 Altcoins Under $1 is different because it uses a special digital record that keeps track of all its transactions in a safe way. It also relies on a system called Proof-of-Work (PoW) and a Decentralized Ledger network.
There are about 142.32 billion Dogecoin tokens in circulation, which means they’re all out there being used. Dogecoin’s total worth in the market is around $13.16 billion, putting it in tenth place among all the different cryptocurrencies. The highest value Dogecoin ever reached was $0.7376, but currently, it’s selling at a discount of over 87%.
This year, Dogecoin’s value has gone up by 31%, grabbing a lot of attention from people who follow the market. The community around this funny internet coin is growing stronger, suggesting there might be a chance for its value to go up three times what it is now, maybe even reaching its highest point again.
Stellar Lumens (XLM)
Stellar is like another kind of money that’s good for sending cash across borders. It lets people trade stuff using something called the Stellar Consensus Protocol. The XLM token is what you use to move digital stuff around and even regular money on its system.
There could be up to 50 billion Stellar tokens, but right now there are about 28.22 billion in use, which is more than half of what there could be. The value of XLM, with a market cap of $3.48 billion, puts it in 24th place among all the different kinds of digital money out there.
Cronos (CRO):
Cronos has a special token called the CRO token. This token is made and kept on the Ethereum network, and people use it to pay for stuff, like fees and things they buy, especially from online platforms.
Right now, about 25.26 billion CRO tokens are being used, which is most of the 30.263 billion that could exist. The highest price CRO ever reached was $0.9698, but right now, it’s selling for a lot less, around 90% cheaper.
The Graph (GRT):
The Graph is like a big internet system that’s not owned by any one person. It helps keep track of information on blockchains, which are like digital ledgers. GRT works on the Ethereum network and helps software developers make lots of little programs called subgraphs.
There are 10.79 billion GRT tokens in total, but only 9.36 billion are being used right now. In 2021, the price of GRT reached a high of $2.88, but now it’s selling for way less, over 94% cheaper.
Terra LUNA (LUNA 2.0):
Terra LUNA 2.0 works like a big club where people put in their digital money to help make decisions together. There are over 130 members in this club who help run the system smoothly. LUNA 2.0 is the special money used for this club’s activities.
There are about 610.39 million LUNA 2.0 tokens being used right now, and there can be a maximum of just over 1 billion tokens. The highest price LUNA 2.0 ever reached was around $120, but now it’s selling for way less, about 99% cheaper.
Arbitrum
Arbitrum (ARB) had a big drop in its price, falling by more than 95% after its airdrop. But as time passed, more and more investors started to notice it, showing that the project was pretty solid. Plus, they’ve made some important changes already and have more planned for next year. Because of this, some people think it could make them a lot of money when the market goes up again.
Bottom Line
Investing in cryptocurrency comes with a lot of risks because the market can change very quickly and it’s hard to predict what will happen. Sometimes people try to manipulate the market by quickly raising and then dropping the prices of certain cryptocurrencies. To protect yourself, it’s important to do your research, understand the risks involved, and not get too greedy. You can also use tools like stop loss to limit your losses if the market starts to go down.
Looking ahead, the cryptocurrency industry seems ready for the next year, especially because it’s seen as a big year for alternative cryptocurrencies or altcoins. More investors are becoming interested in these altcoins because they have a lot of potential and strong fundamentals, whether they’re big, medium, or small in size. This growing interest suggests that an all-season, where altcoins do particularly well, might be on the horizon.
