Tech

5 Best Cheap Cryptocurrency to Buy – June 2022 Week 4

06/21/2022
Bitcoin Ethereum News

The cryptocurrency market continues to inch upwards after a big selloff last week. Its total cap is $967 billion, up by 5% in the past 24 hours, and by 10% since hitting $875 billion on Sunday. Most major coins are also up with the market, with some altcoins seeing bigger gains than others. We collect the most promising of these in this list of the 5 best cheap cryptocurrency to buy.

5 Best Cheap Cryptocurrency to Buy

1. Lucky Block (LBLOCK)

At $0.00104441, LBLOCK is up by 7% in the past 24 hours. It’s also up by 18% in the past week, but down by 59% in the last 30 days.

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

LBLOCK remains a strongly undervalued coin, largely because it’s new and hasn’t yet been listed widely. Still, thanks to the ongoing development of the Lucky Block crypto games platform, it’s position where it can capitalise significantly as and when the market recovers.

Based on Binance Smart Chain, Lucky Block has begun holding regular draws, with its first ever taking place at the end of May.

Based on Binance Smart Chain, Lucky Block’s daily draws guarantee a minimum prize for winners of at least $50,000. That said, if sales exceed the minimum, then the prize fund can rise above $50,000.

A return to bullish conditions will likely see LBLOCK increase in value significantly. Aside from launching its draws, the Lucky Block platform continues to evolve. It’s planning an Ethereum-based ERC-20 version of the LBLOCK token, something which will increase liquidity. It’s also in the process of rolling out a number of other games, with raffles also being planned to complement prize draws. This is why it’s one of our 5 best cheap cryptocurrency to buy.

2. Polygon (MATIC)

MATIC is up by 15% today, at $0.436426. This represents a 2% rise in the past week, and a 32% fall in the last 30 days.

Polygon (MATIC) price chart - 5 Best Cheap Cryptocurrency to Buy.

MATIC’s indicators suggest that a rally is long overdue. Its relative strength index (in purple) recently plunged below 30, but has begun rising up to 40. Likewise, its 30-day moving average (in red) is substantially below its 200-day average (in blue), suggesting that a correction upwards is needed.

MATIC is the native token of scaling solution Polygon, which is Ethereum’s biggest layer-two network. It has a total value locked in of $1.7 billion, making it the sixth-biggest blockchain platform in general.

Fundamentally, MATIC is a very strong coin, since Polygon continues to grow. In May, Facebook’s parent company Meta announced the launch of digital collectibles via Polygon’s platform, opting for the layer-two solution instead of Ethereum itself. More recently, cosmetics giant L’Oreal issued 10,000 of its own NFTs via Polygon, providing another glowing endorsement.

Polygon’s ecosystem now encompasses over 19,000 dapps. This is highly impressive, yet Polygon is likely to continue growing even after Ethereum shifts to proof-of-stake. This is because the ‘Merge’ won’t initially make Ethereum much more scalable, so increased demand for Ethereum will increase demand for capacity on Polygon.

 

3. Cardano (ADA)

ADA is $0.503669 at the moment, making for a 5% rise in the past 24 hours. It’s also up by 9% in the past week, but down by 17% in the last 14 days.

Cardano (ADA) price chart.

ADA’s RSI has shown a modest recovery of momentum since the beginning of June. Of course, with the market subdued overall, it hasn’t been able to reveal its potential.

Punt Crypto Casino Banner

Nonetheless, ADA is one to watch for the short- and long-term future. Its native platform Cardano is witnessing an increase in transaction volumes and usage. It now records 24-hour transaction volume in the region of $8 billion – $10 billion, making it busier than Ethereum. It has also issued 5.2 million NFTs, while the number of dapps building on its network has passed 1,000. This growth is why ADA is one of our 5 best cheap cryptocurrency to buy.

4. Celsius Network (CEL)

For the risk takers out there, CEL may be the most interesting altcoin in the market right now. At $1.41, it has risen by just over 100% in the past 24 hours, and by 400% in the last seven days.

Celsius (CEL) price chart.

CEL’s RSI shows a massive spike in momentum. The reason? Well, CEL seems to be benefitting from a short squeeze at the moment. In other words, because of Celsius’ recent withdrawal freeze, many traders are trying to short it. Yet because shorting requires buying up an asset, short sellers are currently boosting its price. And the more the price of CEL rises, the more additional CEL short sellers have to buy to cover their positions.

This squeeze could continue for quite some time. Needless to say, with Celsius suffering serious difficulties, CEL could also collapse any time soon. So any trader buying the coin now is taking a big risk.

5. Zilliqa (ZIL)

At $0.04320633, ZIL is up by 24% in the past 24 hours. It’s also up by 29% in the past week, but down by 17% in the last 30 days.

Zilliqa (ZIL) price chart.

ZIL’s RSI is shooting up right now. Given that it had been down for over a month, its surge may signal a breakout rally.

ZIL is the native token of Zilliqa, a layer-one blockchain platform that’s already capable of sharding, thereby improving its scalability compared to chains such as Ethereum.

The coin has been doing well ever since the launch of Zilliqa’s metaverse, Metapolis, on April 2. This is a metaverse-as-a-service platform, meaning that other companies and projects can use it to build their own virtual worlds and experiences.

Capitalising on the launch, Zilliqa has been launching various initiatives in recent weeks. Most recently, it launched a fund that will award $15,000 in grants to three fashion “innovators” who come up with the best ideas for new fashion lines to be implemented on Metapolis.

On top of this, Zilliqa has welcome a number of new launches on its platform. This includes ZilPay, a decentralised exchange that will potentially draw more traders into the Zilliqa ecosystem. This is why ZIL is one of our 5 best cheap cryptocurrency to buy right now.

Capital at risk

Read more:

Source: https://insidebitcoins.com/news/5-best-cheap-cryptocurrency-to-buy-june-2022-week-4