The general cryptocurrency market appears to have entered a consolidation phase after starting the year on a high note. Despite the slowdown in momentum, investors are still looking for opportunities to get involved and possibly profit from another bull run.
While well-established cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) currently trade at high prices, many other low-valued assets can offer great investment opportunities. These cryptocurrencies have strong potential for growth and are accessible to investors on a budget. Therefore, Finbold has taken an in-depth look at the top five cryptocurrencies under $1 to buy in March.
Cardano (ADA)
Despite trading at a relatively low price, Cardano (ADA) boasts of significant activity on its blockchain. Cardano ranked as the top crypto protocol by development activity in 2022, while the team has lined up numerous initiatives touted to inspire a possible price rally.
Part of the network development activity has translated to increased adoption of several features, such as smart contracts. Indeed, the number of Plutus scripts on the network is nearing the 6,000 milestone, with transactions surpassing 61 million. At the same time, Cardano is backed by other fundamentals, such as launching the Djed stablecoin on the network.
These developments and Cardano’s promising future prospects make ADA an attractive investment option. Notably, prediction by text-based artificial intelligence (AI) platform ChatGPT indicates that ADA is likely to trade in at double digits by 2030.
By press time, ADA was trading at $0.38 with daily losses of almost 2%.
XRP
One of XRP‘s key fundamentals is its parent company Ripple, rollout of cross-border payment systems globally. The company has previously acknowledged that more opportunities exist globally despite the regulatory uncertainty in the United States.
However, one of the crucial factors likely to drive XRP’s price is the ongoing case between Ripple and the Securities Exchange Commission (SEC). The case that entered its summary judgment has been touted to have long-standing ramifications on the crypto sector. If the case favors Ripple, it could be bullish for XRP. Interestingly, odds in the case are increasingly favoring Ripple, especially with the renewed interest in Hinman speech documents.
On the other hand, there is a push for exchanges like Coinbase to relist XRP, a possible bullish catalyst. At the moment, XRP is trading at $0.39.
The Sandbox (SAND)
SAND, the native token of The Sandbox metaverse game, is among the stand-out cryptocurrencies in the gaming space. It is worth noting that gaming-related cryptocurrencies were central to initiating the 2023 rally.
In this case, SAND has rallied in line with the possible entry of established players into the metaverse space. For instance, initial gains in 2023 were tied to tech giant Apple’s potential rollout of virtual reality gear (NASDAQ: AAPL).
Indeed, with the potential of metaverse gaming, SAND’s current price makes it a notable bet to rally in the future. At the moment, SAND is trading at $0.74
Hedera (HBAR)
Hedera network (HBAR) is also undergoing a spike in on-chain activities that has translated to factors such as an increase in Total Value Locked (TVL). At the same time, the network has witnessed activity on the non-fungible token (NFT) front leading to key partnerships.
For instance, the token rallied previously after LG’s Art Lab NFT marketplace partnered with celebrity restaurateur Jeremy Fall through the Hedera NFT platform. In the meantime, the network is looking to make inroads into the gaming sector with plans to transition Web 2.0 gamers and programmers to Web 3.0.
By the time of publishing, HBAR was trading at $0.08 with daily losses of about 2.3%.
Dogecoin (DOGE)
The meme cryptocurrency holds the potential of ranking among the top investment assets for March, considering that the token was the second-best performer out of the top ten cryptocurrencies by market cap in 2022. Although Dogecoin (DOGE) previously lacked solid utility, the asset is backed by key bullish sentiments.
For instance, there remain speculations that DOGE might be integrated into the social media giant Twitter payment system. This is after DOGE supporter and Tesla CEO (NASDAQ: TSLA) Elon Musk acquired the social network giant.
The value of this meme token at press time stood at $0.08366, with weekly losses of about 4%.
Although the highlighted assets have the potential for the future, their prospects are still subject to external factors such as general market price movement.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
Source: https://finbold.com/top-5-cryptocurrencies-under-1-to-buy-in-march-2023/