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5 Best Cheap Cryptocurrency to Buy – June 2022 Week 2

06/07/2022
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The cryptocurrency market is down by 5% today after a brief resurgence. Its total cap stands at $1.27 trillion, representing a 7% drop in the past week and a 25% fall in the past month. Most major coins have matched this disappointing performance, with some doing worse than others. Of course, falls mean that some fundamentally promising coins are now at a discount. This article highlights them in a list of the 5 best cheap cryptocurrency to buy right now.

5 Best Cheap Cryptocurrency to Buy

1. Lucky Block (LBLOCK)

LBLOCK is down by 16% in the past 24 hours, at $0.00133280. It’s also down by 45% in the past week, but up by 4% in the last 30 days.

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

LBLOCK has fallen after enjoying a rise last week. This surge followed from Lucky Block’s first ever prize draw, which the platform held on May 31. It also held its first every NFT prize draw on the same date, with two lucky participants winning $1 million in LBLOCK, which will be paid in daily instalments.

Based on Binance Smart Chain, Lucky Block began holding its daily prize draws from yesterday. It will hold its next daily draw today at 8pm (British Summer Time), with a guaranteed minimum jackpot of $10,000.

The beginning of daily draws will enable Lucky Block to gain significant traction in the coming weeks. While overall negative market sentiment has played a part in dragging LBLOCK down, it’s likely that the return of more favourable conditions will help it recover strongly. Particularly when Lucky Block’s development is proceeding as planned. This is why it’s one of our 5 best cheap cryptocurrency to buy.

2. Cardano (ADA)

At $0.590641, ADA is down by 7% in the past 24 hours. However, it’s up by 3.5% in the past week, and by 15% in the past fortnight. It’s also down by 22% in the last 30 days.

Cardano (ADA) price chart - 5 Best Cheap Cryptocurrency to Buy.

ADA had been one of the best-performing major coins last week. The recent climbdown, however, has dampened its momentum. Its relative strength index (in purple) has dropped to 50, making its future movement uncertain.

That said, ADA is one of the most promising altcoins in the top 100, and is currently undervalued. Indeed, native platform Cardano has recently seen an increase in transaction volumes and usage. It recorded a transaction volume of nearly $10 billion a week or so ago, while it has now issued just over five million NFTs.

At the same time, faith in some of Cardano’s rivals has declined in recent weeks, with Solana in particular suffering from a number of outages. Correspondingly, some investors are looking for alternatives, with Cardano being one of their current favourites.

3. Waves (WAVES)

WAVES is down by 6% in the past 24 hours, dropping to $8.07. That said, it’s up by 6% in the past week and by 41% in the past fortnight. On the other hand, it’s down by 40% in the past month.

Waves (WAVES) price chart.

WAVES’ indicators suggest it’s nearing a bottom. Its RSI has just fallen under 40, suggesting that the market is overselling it. That said, its 30-day moving average (in red) has only just dropped below its 200-day average (in blue), so it may need some more time before turning a corner.

Regardless, WAVES has been one of the best-performing altcoins during the current bear market. Its native platform, Waves, provides open‑source technologies to help developers build scalable and decentralised Web3 apps. It’s undergoing a series of important developments this year, providing one of the main reasons why WAVES had been rallying in late March.. Its biggest upcoming change is that it’s transitioning to Waves 2.0, which will introduce significant scalability enhancements. Waves DAO is also on the horizon, a decentralised autonomous organisation that will open its governance up to its community.

Most recently, WAVES has suffered from the aggressive selling of the USDN stablecoin. However, it outlined a recovery plan that will see the value of USDN stabilise. This plan includes a measure to liquidate large positions in the stablecoin, thereby reducing the power of whales to influence or manipulate its markets.

More generally, Waves is another proof-of-stake layer-one chain that is seeing growing use in various areas. Its total value locked currently stands at $1.04 billion, up from $700 million in February.

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4. Gala (GALA)

GALA is one of the few top-100 coins to have risen in the past 24 hours. At $0.081718, it’s up by 3% today, but down by 3% in the past week. It’s also down by 40% in the past month.

Gala (GALA) price chart.

A blockchain-based platform for developing video games, Gala appears to be rallying today largely because of the Galaverse. This is the platform’s official convention, which has already showcased a number of exciting new projects.

Most notably, it also served as the venue for Gala’s announcement of a partnership with Epic Games. This deal will see Gala’s titles sold on Epic’s platform, providing Gala with a significant increase in exposure.

This deal has served to remind the market of the promise Gala shows as a gaming platform. It has signed a number of other partnerships in recent months, as well as launched a range of new games. This includes the launch of Spider Tanks, a player-versus-player battle royale game that offers earnings in crypto.

Given its steady growth during a downturn, Gala is likely to go from strength to strength when the overall market picks up. This is why GALA is one of our 5 best cheap cryptocurrency to buy now.

5. Ripple (XRP)

XRP is down by 3.5% today, at $0.392634. This represents a 6% drop in the past week and a 32% fall in the past month.

Ripple (XRP) price chart.

XRP’s RSI shows that it has been very subdued for a long time now. And at only $0.39, it’s arguably very undervalued. This is not only because of wider market negativity, but because of Ripple’s ongoing case with the SEC.

However, there’s a very good chance that Ripple will secure a favourable outcome to this case. Presiding judges have issued a number of positive decisions in the past few months. This includes a ruling upholding Ripple’s right to use a fair notice defense, through which it will claim that the SEC did not provide it with sufficient warning that XRP could be considered a security.

Looking at XRP more generally, it’s impressive to note that it continued to witness a fair degree of adoption, even during its recent legal tussle. For instance, partnered with fintech firm Modulr in February on a project to enable cross-border payments into and out of the UK and Europe.

Last month, it also partnered with Lithuania-based electronic money transmitter FINCI. This partnership will see FINCI use Ripple’s XRP-based network to offer low-cost international remittances to its customers.

It’s very likely that more of these partnerships will follow if Ripple wins its case, with a ruling due at some point at the end of 2022. If it does, expect XRP to skyrocket, which is why it’s one of our 5 best cheap cryptocurrency to buy right now.

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Source: https://insidebitcoins.com/news/5-best-cheap-cryptocurrency-to-buy-june-2022-week-2