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5 Best Cheap Cryptocurrency to Buy April 2022 Week 1

03/29/2022
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The cryptocurrency market continues to climb. At $2.24 trillion, its total cap has risen by 1.7% in the past 24 hours and by around 15% in a week. Most major coins have mirrored these movements, with bitcoin (BTC) and ethereum (ETH) up by 15% and 17% in seven days. Despite having fallen since November, such major cryptocurrencies remain relatively expensive. As such, we’ve put together a list of the 5 best cheap cryptocurrency to buy right now. This covers coins with prices of $100 or under.

5 Best Cheap Cryptocurrency to Buy

1. Lucky Block (LBLOCK)

LBLOCK is up by 37% in the past 24 hours, reaching $0.00326705. It is, however, down by 47% in the past month, but up by a substantial 650% since launching at the end of January.

Lucky Block (LBLOCK) price chart - 5 Best Cheap Cryptocurrency to Buy.

LBLOCK is the native token of the Lucky Block lottery platform. Running on Binance Smart Chain, it aims to make lotteries fairer and more transparent. It aims to hold its first draw in April, with draws becoming regular afterwards.

Users can spend LBLOCK to enter Lucky Block draws. This provides them with the chance to win 70% of each draw’s jackpot fund. That said, all holders of LBLOCK get an equal share of 10% of each fund, regardless of whether they enter.

Lucky Block has just officially launched its app on the Google Play Store. Its iOS app is due in the coming weeks, with both opening the platform to millions of users.

Other signs of Lucky Block’s growth include the fact that it now counts 47,000 holders of its LBLOCK tokens. This is despite the fact that it hasn’t even fully launched its lottery platform yet.

Lucky Block also recently launched 10,000 of its own non-fungible tokens. These NFTs — which had been delayed the previous week (causing price losses) — will grant holders entry to special NFT-based draws. The fund for each of these is around 2% of the main Lucky Block draw.

On top of this, Lucky Block will also be launching an Ethereum-based version of its token, something which should greatly increase its uptake. This one more reason why we expect LBLOCK to appreciate considerably in the near future, and why we’ve named it as one of our 5 best cheap cryptocurrency to buy right now.

2. Cardano (ADA)

At $1.22, ADA is up by 3% in a day and by 32% in a week. It’s also up by 51% in fourteen days.

Cardano (ADA) price chart - 5 best cheap cryptocurrency to buy.

ADA’s indicators show a steady — and increasingly strong — increase. Its relative strength index (in purple above) has moved from 30 at the start of March to 60 today, having spent much of the past fortnight above 70. This shows that momentum is behind ADA, as indicated by its rising 30-day moving average (in red).

We expect ADA to be one of the biggest-growing altcoins over the coming months, particularly if recent market-wide rises are part of a new bull market. This is because Cardano has been developing rapidly over the past few months. The launch of smart contracts in September has been followed by Cardano’s ecosystem accumulating over 500 projects.

In parallel with this growth, Cardano is now posting a total value locked in. From under $1 million at the start of January, this figure has now risen to $317 million, a rise of over 30,000%. The launch of its DEX SundaeSwap, towards the end of January, is largely to thank for this growth.

And with Input Output Hong Kong continuing to develop Cardano, and announce new projects, ADA will only continue to grow.

3. Loopring (LRC)

LRC is $1.32 today, indicating a rise of 16% in the past 24 hours. It’s also up by 63% in the past week and by 90% in the last 14 days.

Loopring (LRC) price chart.

LRC is making up for lost ground. Its price is still a long way (65%) down from its November all-time high of $3.75. Yet its indicators show renewed momentum. Its RSI has (on average) been rising slowly upwards since mid-February. Meanwhile, its 30-day average has risen clearly above its 200-day average (in blue).

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As the native token of layer-two scaling solution Loopring, LRC has benefitted from the latter’s launch of its beta of the long-awaited GameStop NFT marketplace. The full version of the marketplace will launch soon afterwards, offering users the chance to buy non-fungible tokens representing digital goods and properties.

What’s bullish about this news for Loopring is that GameStop, in launching an NFT marketplace, chose to bypass layer one completely. Instead of building directly on Ethereum, it has partnered with Loopring. This represents enormous validation for Loopring and layer two in general.

It’s also worth pointing out that, even though Ethereum will be transitioning to proof-of-stake in the next few months, demand for layer-two scaling platforms such as Loopring will remain strong. This is because, in the short term, PoS alone will do little substantially reduce Ethereum fees or increase its transactions per second. As a result, we expect LRC to continue rising, which is why it’s one of our 5 best cheap cryptocurrency to buy.

4. Ripple (XRP)

At $0.875355, XRP has risen by 1.6% in the past day. This price also represents a 4.5% rise in the last week and a 16% rise in the past month.

Ripple (XRP) price chart.

XRP has been on a steady overall increase since early February. This is largely because Ripple’s case with the SEC has taken a more promising turn in the past few weeks. Most recently, Judge Torres recently refused the SEC’s motion to strike Ripple’s fair notice defense. This allows Ripple to fully present its argument that the SEC never provided it with sufficient warning that XRP could be deemed a security.

Basically, the ruling makes it increasingly likely that Ripple will win its case. And even since the beginning of the legal action, crypto-specialised lawyers had always contended that the SEC’s case was weak.

Ripple is now pushing for a summary judgment by the middle of May. Assuming it secures this, XRP could surge massively around this time.

5. Shiba Inu (SHIB)

SHIB is up by 5% today, at $$0.00002780. It has also risen by 20% in the past week and by 26% in the past fortnight.

Shiba Inu (SHIB) price chart.

As a meme token, SHIB is always something of a risk. However, the market seems to be recovering and SHIB is overdue a rebound. Its 30-day moving average has only recently overtaken its 200-day average, suggesting that it has further rises to make.

More generally, SHIB is one to watch by virtue of its large and strong community of followers. Its Reddit page now counts around 468,000 subscribers, while its Twitter account also has 2.9 million followers.

It also continues to grow, with Shiba Inu announcing its own metaverse in February. Dubbed the Shibverse, details remain sketchy at the moment, but it will involve the sale of virtual land and real estate. So expect demand for SHIB to increase following its launch.

Also in February, Shiba Inu launched its own DoggyDAO. This is a decentralised autonomous organisation that will be responsible for deciding which projects to distribute funds to on ShibaSwap, Shiba Inu’s native DEX. What this tells us about Shiba Inu is that, despite its reputation, it has good prospects for growing and evolving. Which is why we suspect that SHIB could be due a rally soon.

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Source: https://insidebitcoins.com/news/5-best-cheap-cryptocurrency-to-buy-april-2022-week-1