While Bitcoin (BTC), the pioneering cryptocurrency, often dominates headlines, numerous other promising digital assets are worth considering. Notably, the general cryptocurrency market remains in a consolidation phase led by Bitcoin, which has failed to break past the $30,000 barrier.
It is worth noting that the market recorded short-term gains following positive news related to a spot Bitcoin Exchange Traded Fund (ETF). However, despite the depressed market, the overall consensus is that the industry will likely rally in the coming months.
With this in mind, several cryptocurrencies present a buying opportunity since they are relatively affordable, and investors can potentially record gains once the market rallies. Therefore, here are the five cryptocurrencies valued below $0.10 to consider buying next week.
The TRON (TRX) market has seen significant growth, attributed to the success of the TRON Virtual Machine (TVM) and a recent collaboration with DWF Labs. Notably, a recent report by Messari brought attention to Tron’s growth in the previous quarter. The report emphasized notable increases in TRON’s daily average active accounts, new accounts, and transactions, with rises of 14%, 13.4%, and 28.9%, respectively.
Despite trading above $0.076 consistently, analysts remain optimistic about TRON, suggesting it could bounce back and provide substantial returns for investors amid the ongoing bearish conditions, making it an attractive investment option.
By press time, TRON was trading at $0.08, gaining by less than 1% in the last 24 hours.
Shiba Inu (SHIB)
The meme coin has rejuvenated itself, attracting attention in the crypto market following the successful relaunch of Shibarium, a layer 2 scaling solution. Although outages initially impacted the relaunch due to network congestion, the solution resumed operations after receiving support from other crypto entities, notably Polygon (MATIC).
The introduction of Shibarium has led to substantial on-chain growth for the Shiba Inu (SHIB) network. According to a report from Finbold, the Shibarium relaunch resulted in a significant uptick of 35,000 new wallets in just one day, pushing the total user count beyond 100,000. This renewed interest is expected to drive Shiba Inu’s price growth.
Currently, SHIB is valued at $0.0000079, having experienced a 3% correction in the last 24 hours.
Hedera (HBAR) has garnered significant attention in cryptocurrency over the past month, maintaining a generally positive trend. Despite a short-term correction in token value, the asset has shown notable gains in other on-chain metrics. For instance, social activity around HBAR surged by over 200% in a week leading up to August 8, a pattern that has historically foreshadowed price increases.
Furthermore, Hedera’s potential is bolstered by strategic partnerships, such as its collaboration with platforms like Calaxy, which launched on the Hedera network. This partnership aligns with the blockchain’s role in the Web3 era and enhances opportunities for creator monetization.
At the time of writing, HBAR was trading at $0.05, reflecting a 5% correction in the last 24 hours.
The price of Vechain (VET) has been steadily declining, undoing previous gains. Unfortunately, it has struggled to attract enough buyers to surpass its previous high, as sellers have held sway at the top and pushed the price lower in line with the general cryptocurrency market. Despite the bearish price, VET remains highly regarded as one of the most promising blockchain projects.
The crypto is banking on several initiatives, such as strategic collaborations. For instance, VeChain has joined forces with AI firm SingularityNET, becoming the latest blockchain developer to embrace this emerging technology. This strategic partnership aims to combat climate change by harnessing advanced AI algorithms and leveraging VeChain’s enterprise data.
By press time, VET was valued at $0.02, losing its value by over 4% in the last 24 hours.
Chiliz (CHZ) has experienced positive price movement for the better part of the week despite being influenced by the prevailing bearish market sentiment. This surge in price coincided with the project’s introduction of a mainnet upgrade in early 2023. The upgrade, derived from BNB Chain, introduced a new token standard known as CAP20, designed to support sports and entertainment cryptocurrencies within the ecosystem.
In a significant development, Binance announced its intention to integrate the Chiliz 2.0 mainnet. This integration will automatically convert all Chiliz-based tokens, including the native CHZ tokens and fan tokens, from their existing BEP2, BEP20, and Chiliz Legacy Chain addresses to the CAP20 token standard.
In the meantime, CHZ is valued at $0.06, representing losses of almost 4% in the last 24 hours.
Although the covered cryptocurrencies have shown potential to rally, they remain susceptible to the overall market sentiment.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
The post 5 cryptocurrencies under $0.10 to consider buying next week appeared first on Finbold.