The cryptocurrency market has descended following a good few days. Its total value now stands at $2.38 trillion, representing a 2.3% decline in 24 hours. Many coins have declined by bigger percentages, although bitcoin (BTC) has more or less held its value. However, with BTC being the most expensive coin in the market, investors may be more interested in cheaper investments. Accordingly, we’ve created a list of the 5 best cryptocurrency to buy on low prices. This covers coins priced below $200.
5 Best Cryptocurrency To Buy On Low Prices
1. Cardano (ADA)
Cardano (ADA) has just suffered a dip, making it available at a discount. At $2.63, it’s down by 9% in the past 24 hours, and down by nearly 4% in the past week. That said, it remains 77% up in the last 30 days, as well as over 2,700% in the last year.
As the above chart illustrates, ADA’s current price has dived well below its 30-day and 90-day moving averages. Given that Cardano is still on track to roll out smart contracts on September 12, it’s probable that this dip will be corrected in the coming days.
Yesterday, we upgraded the #Cardano testnet, successfully deploying #Plutus #smartcontracts capability. The focus now is on final component testing & exchange integrations, ahead of the #Alonzo mainnet upgrade, still on track for deployment on 12 September 💪 #Cardano $ADA pic.twitter.com/lrdiYIiNKD
— Input Output (@InputOutputHK) September 2, 2021
The deployment of smart contracts via the Alonzo upgrade remains Cardano’s main focus at the moment. However, concerns have emerged surrounding concurrency issues on the Alonzo testnet, which is likely the primary cause of the recent dip. Apparently, observers have noticed that one exchange running on the testnet, Minswap, can’t handle multiple users making the same request at the same time. This has led to worries that Cardano’s apps won’t be able to handle more than one transaction per block. More broadly, it’s also invited fear it won’t be able to successfully grow its DeFi ecosystem, once smart contracts go live.
I hate to be dramatic, but public testnet UX at @MinswapDEX has been horrible. The UTXO model is simply unusable in #defi systems due to the #concurrencyissue. Could someone plz provide some clarification as to how and when this will be resolved?
— binbal (@binbal24) September 4, 2021
Nonetheless, Input Output Hong Kong (the organisation overseeing Cardano development) has issued a pretty strong response to such worries. In a Twitter thread, it notes that Cardano handles transactions differently from Ethereum. It also notes that there are simple ways of processing multiple transactions at the same time.
IMPORTANT THREAD: Over the past 24 hours we have seen a lot of social media speculation (and let’s face it, outright FUD & misinformation) over Cardano’s ledger approach and specifically ‘concurrency’. Let’s clear this up. #Cardano $ADA 1/n
— Input Output (@InputOutputHK) September 5, 2021
For now, this hasn’t dispelled concern over ADA. Nevertheless, with the Alonzo rollout still on track, and with ADA at a discount, it remains one of the best cryptocurrency to buy on low prices.
2. Axie Infinity (AXS)
Axie infinity (AXS) has fallen by 10% over the past 24 hours. Its price currently stands at $75.30, representing a 2.6% increase across the past week. It’s also 82% over the last 30 days, making it one of the best-performing coins of this period.
While this fall is disconcerting, it’s in line with most over major altcoins. More importantly, AXS’ fundamentals continue to remain healthy. Axie Infinity is still consistently growing its user base. The decentralised, Pokémon-esque game now boasts just over 1.58 million daily active users. Impressively, it had only 61,125 as recently as the end of May. This represents nearly 2,500% in less than four months. And the more users Axie Infinity has, the more demand there will be for AXS.
3. Solana (SOL)
It may not remain a cheap coin for long, but solana (SOL) does certainly appear to be one of the best cryptocurrency to buy on low prices right now. At $180, it has risen by 23% in the past 24 hours. Astonishingly, it’s also up by 63.8% in the past week, 136.5% in the past fortnight, and by 356.2% in the past month. It set a new all-time high of $193.87 only a couple of hours ago, having been $138 only four days ago.
Solana has been rocketing ever since the launch of the Wormhole protocol on August 9. This is a cross-chain bridge, enabling users to transfer coins between Solana, Ethereum, Binance Smart Chain and Terra. While the other three blockchains have also benefitted from this, Solana — and SOL — has really taken off since the launch.
1/Today we’re incredibly excited to announce Wormhole: a generic cross-chain messaging protocol. Wormhole will launch with support for the thriving @Ethereum, @Solana, @Terra_money, @binancechain ecosystems. https://t.co/pEKdeOW821
— Wormhole (@wormholecrypto) August 9, 2021
Because of Wormhole, Solana’s total value locked has risen to nearly $6 billion, having stood at $1.3 billion at the start of August. This is a massive 360% rise in a month.
Solana is also attracting more adoption on its own account. Its Solanart NFT platform launched only two months ago, but it broke one million SOL in total volume at the end of August. This is now worth more than $180,000,000.
Almost two months ago, we launched https://t.co/tPritDMeeN, first #NFT marketplace on #Solana
Today, we broke 1,000,000 SOL in volume, and as $SOL breaks $100, that’s over $100,000,000 traded on our platform 🤯
Thank you for making us number one ❤️
New features coming soon 👀 pic.twitter.com/wjA0EFtTqf
— Solanart – NFT Marketplace (@SolanartNFT) August 30, 2021
4. Ripple (XRP)
XRP has dropped by 3% in the past hour, to $1.31. That said, this price is 18% higher than it was one week ago, given recent strong performance. XRP is also 60% up over the past 30 days.
Despite much of the market falling over the past 24 hours, XRP has done well to avoid a severe drop. The cryptocurrency has also been helped by continuing confidence surrounding Ripple’s legal case with the SEC.
In particular, a hearing held on August 31 helped add momentum to XRP’s recent jumps. Ripple’s team of attorneys — including some former SEC officials — now seem convinced that SEC documents will show that the regulator regarded XRP as similar to ETH and BTC, both of which it doesn’t classify as securities.
It’s almost as if the #Ripple defense team knows something the public doesn’t.
— John E Deaton (@JohnEDeaton1) August 31, 2021
A decision concerning these documents — which the SEC is currently withholding — isn’t expected until September 28. However, assuming that the judge presiding over this case compels the SEC to share, it could blow the case wide open. In other words, XRP could continue rising.
5. Iota (MIOTA)
Iota (MIOTA) has been having a very good couple of weeks. It has plunged by 12% in today’s selloff, to $1.68. On other hand, it remains 73% up in the last week, as well as 80% up in the past 30 days.
Still, MIOTA is 67% below its record high of $5.25, set in December 2017. This is a good sign, since it indicates that it still has plenty of room left to rise, once the market resumes climbing.
Sure, Iota isn’t one of the most hyped platforms at the moment, but it has been growing steadily in the sidelines. For instance, on August 19 it revealed an extension of its ongoing partnership with ClimateCHECK, which will use Iota’s Internet-of-Things blockchain for combating global warming.
[#ICYMI] Increasing trust in environmental data is a vital part of the fight against #climatechange. We’ve extended our partnership with @digitalmrv, @ClimateCHECK + @environmentca @eccc_news to use #IOTA #tech as a tool against #globalwarming.https://t.co/esreRevPwr
— IOTA (@iota) August 19, 2021
Iota is also working on technical enhancements, such as smart contracts and native assets. These will make it more attractive to investors and projects looking to work with it. This is why, at only $1.68, MIOTA is one of the best cryptocurrency to buy on low prices.
— IOTA (@iota) August 20, 2021
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