The cryptocurrency industry is booming, and many people are looking for the next big thing to invest in. As crypto-investors continue to take risks, the number of penny cryptos with explosive growth potential is increasing. When altcoins are below $1 each, they attract investors who want a token that has high investment opportunities.
Such low-cost tokens attract most crypto investors because they are seen to have explosive growth potential as well. In this blog post, we will be discussing the top 8 promising cryptocurrencies that are under $1 and have a high potential for growth!
Top 8 Promising Cryptocurrencies under $1
Our cryptocurrency picks under $1 are based on fundamentals, growth potential, and the teams behind the project. These coins are driven purely by speculation, making these investments riskier than those that have been fundamentally strong in terms of their history or team members propelling them forward. This is why we at Mudrex believe it’s important to maintain a diverse portfolio with some riskier bets mixed in for good measure!
Market Cap: $4 billion
Image Source: CoinMarketCap
VeChain is a blockchain-powered supply chain management system. It is designed to be a trust-free and distributed business ecosystem that enables transparent information flow, efficient collaboration, and high-speed value transferring. It offers an impressive unique proposition in its dual-token setup, in-house token fees, and its anti-counterfeiting use cases.
VeChain is one of the blockchain projects with the highest potential for success in 2018. It has some of the biggest companies backing it up. VeChain has partnered with Price Waterhouse Coopers and DNV GL, two leading global quality assurance companies, to build an IoT solution for products from luxury handbags to automotive parts.
Market Cap: $5 billion
Edit – Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.
Polygon combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.
Polygon solves pain points associated with Blockchains, like high gas fees and slow speeds, without sacrificing on security. This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc, but with at least three major upsides: 1 It is able to fully benefit from Ethereum’s network effects 2. it is inherently more secure 3. It is more open and powerful
Polygon is a blockchain platform that enables users to trade any assets in the form of tokens. Assets on Polygon, such as shares, futures, or options, are recorded and stored with an open-source Ethereum smart contract called TokenFunder. All transactions are transparent, auditable, and historic. The MATIC cryptocurrency facilitates transactions and provides the needed liquidity on Polygon.
Polygon has a live beta product with real-world applications that will be deployed in partnership with Price Waterhouse Coopers, DNV GL, NASDAQ Clearing, and Depository Services Limited.
Market Cap: $511 million
Fantom is an open-source Ethereum smart contract that provides DeFi (Decentralized Finance) Services using its own algorithm. Fantom solves the challenges associated with smart contract platforms, especially transaction speed.
Travala, a blockchain-based travel booking platform, is leveraging Fantom’s blockchain to help travel lovers book over 3000,000 travel products worldwide, including hotels, homes, flights, etc.
Market Cap: $266 million
Loopring is an Ethereum-based cryptocurrency token that will be used as a payment method for the Loopring protocol, an open-source, public blockchain that can run decentralized exchanges.
Loopring is designed to solve the inefficiencies of centralized cryptocurrency exchange by enabling traders to execute trades themselves without relying on third parties. It achieves this through ring transactions that are executed off-chain and later merged together for confirmation.
Loopring seeks to create a network of decentralized and autonomous non-custodial cryptocurrency exchanges that can be used by traders all around the world without the need for any centralized exchange operator or clearinghouse, thus providing benefits such as lower trading fees, better security guarantees, higher liquidity, and price transparency.
Market Cap: $5 billion
Stellar is an open-source protocol for value exchange. It aims at providing a decentralized ecosystem that connects diverse financial institutions and allows them to transact with one another without the need of any third party, such as Stellar or SWIFT (a global provider of secure solutions). This means that anyone, anywhere in the world, can send money to a friend or relative with their phone.
Stellar teamed up with IBM in 2018 when they launched their new project: World Wire, which allows large financial institutions like banks around the world to submit transactions from its blockchain-powered payment system onto bitcoin’s public ledger called ‘the’ stellar network by utilizing “bridge” currencies making it more secure than ever before!
Market Cap: $1 billion
Decentraland is a virtual reality platform powered by the Ethereum blockchain. The goal of the Decentralands project is to enable users to create, experience, and monetize content and applications. As such, it maximizes user potential through democratic decision-making while preserving their individual rights as creators or consumers who are free to interact with each other in ways they choose without fear of infringement on personal space.
Decentraland empowered people by providing them the chance to own property – both internalized (such as avatars) and externalized (land). Users can monetize LAND either through leasing, advertising, or paid experiences; others generate income from creating items that may be sold using MANA tokens which have been secured by voting members taking part in auctions.
Market Cap: $2 billion
Algorand is a scalable blockchain platform that solves the problem of scalability. The Algorand consensus protocol focuses on achieving distributed agreement with low latency. Algorand’s scalability relies on a novel proof-of-stake (PoS) protocol that allows for consensus without relying on a majority of nodes and achieves higher transaction throughput than other protocols with similar low latency.
Algorand is a unique project that has attracted hundreds of organizations to the community. These partners are all working collaboratively towards Algorand’s vision for the future of finance, and each one brings something extraordinary to this ecosystem. Some of these collaborators include Circle, IDEX, Republic, Hummingbot, among others.
Market Cap: $17 million
Audius is a blockchain-based decentralized audio content sharing platform that pays creators for their work. The Audius team envisions the protocol being the premier destination for podcasting, audio streaming, and live radio.
Advocates for decentralized technologies, like Lupe Fiasco and Gramatik, have spoken out about the benefits of a blockchain solution with its distributed ledger technology. For example, it could be an efficient way to release music because there is no need for expensive middlemen or large-scale corporations. It would also create transparency in royalty payments so that artists can make money off their work without having to give away too much of what they earned from recorded music sales – which has been happening all along due to record labels taking advantage and stealing profits.
Remember, it’s always important to do your own research before investing any money into a cryptocurrency because no one knows which coin will be successful tomorrow. You could even make some consistent profits on the way up! But remember, there are risks involved with this investment strategy, and you should never invest more than you can afford to lose.
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