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5 Cheap Cryptocurrency to Buy for Short-Term Profits April 2022

03/30/2022
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The cryptocurrency market is more or less flat today, after several days of growth. However, its total cap, at $2.24 trillion, has risen by around 23% in the past two weeks. Major coins such as bitcoin (BTC) are largely responsible for driving this increase, yet so too are a number of smaller altcoins. We highlight some of the latter in this roundup of 5 cheap cryptocurrency to buy for short-term profits. This covers coins that are likely to post above-average gains in the near future, although many also have good long-term prospects.

5 Cheap Cryptocurrency to Buy for Short-Term Profits

1. Lucky Block (LBLOCK)

At $0.00299751, LBLOCK is down by 8% in the past 24 hours. It’s also down by 22% in the past fortnight and by 48% in the past month.

Lucky Block (LBLOCK) price chart - 5 cheap cryptocurrency to buy for short-term profits.

Despite falling by 69% since reaching an all-time high of $0.00974554 on February 17, LBLOCK is up by a considerable 587% since launching on January 27. It has attracted attention by virtue of being the native token of the Lucky Block lottery platform. Based on Binance Smart Chain, this platform aims to make lottery draws more transparent, with the distribution of jackpots and prizes being tradable on BSC.

Lucky Block plans to hold its first draw next month, with regular draws following. Holders of LBLOCK can spend the altcoin to enter each draw, gaining the chance to win 70% of each draw’s jackpot fund. However, all holders of LBLOCK receive an equal share of 10% of each fund, even if they don’t 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, while last month it proclaimed itself the fastest altcoin to reach a market cap of $1 billion.

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. Zilliqa (ZIL)

ZIL is up by a big 45% in the past 24 hours, reaching $0.146699. It’s also up by 225% in the last week, and by 273% in the past month.

Zilliqa (ZIL) price chart - 5 cheap cryptocurrency to buy for short-term profits.

ZIL’s indicators highlight an incredibly steep climb upwards. Its 30-day moving average (in red above) is basically vertical, as is its relative strength index (in purple). In other words, its shifting decisively to new long-term levels.

As the native token of layer-one blockchain Zilliqa, ZIL is rallying largely because of the imminent launch of Zilliqa’s metaverse, Metapolis. This is a metaverse-as-a-service platform, meaning that other companies and projects can use it to build their own metaverses and virtual worlds.

Hype surrounding the upcoming launch of Metapolis has increased in the wake of Zilliqa partnering with talent awards app Agora. It has also recently teamed up with fiat-to-crypto onramp provider Ramp, further underlining its growth credentials.

3. STEPN (GMT)

Another big winner today, GMT is up by 77% in the past 24 hours. At $1.96, it’s also up by 145% in the past week and by 487% in the last 14 days.

STEPN (GMT) price chart.

GMT opened for trading on March 11, since when it has risen by just over 1,800%. It reached its all-time high of $2.19 a few hours ago, and is down by 1.8% in the past hour.

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However, the altcoin has good prospects for continuing its rise. Its native platform, STEPN, is a “Web3 lifestyle app with social & game elements.” It provides users with the opportunity to earn its other native token, GST, for exercising and participating in various games.

STEPN is currently in the third phase of its beta rollout, and looks set to announce a partnership with an unnamed major brand very soon. This makes it one to watch for the near future.

4. IOTA (MIOTA)

IOTA is $0.873870 today, down by 0.6% in the past 24 hours. It’s also 12.7% up in the past week and 22% up in the last 30 days.

IOTA (MIOTA) price chart.

IOTA’s indicators are largely in line with the rest of the market’s. However, what’s promising about IOTA is that, despite being a fundamentally strong cryptocurrency, it hasn’t yet had a really strong bounce during the current upturn. Indeed, it’s actually down by 41% over the past year, indicating that it has plenty of ground left to recover.

And it will most likely recover this ground, sooner or later. That’s because Iota continues to grow and evolve. Originally launched as a decentralized protocol for the Internet of Things, Iota has recently expanded to incorporate to additional chains. These are Shimmer and Assembly, which together will provide Iota with smart contracts and DeFi capabilities.

Basically, Iota is in the process of becoming of a multi-purpose utility network, much like Ethereum and Solana. But with Iota using advanced technology (at least compared to Ethereum in its current form), it arguably has a better chance of scaling than many of its rivals. This is why it’s due a big rally sooner or later.

5. Cardano (ADA)

ADA is down by 1.5% in the past 24 hours, with its price at $1.20. This represents a 22% increase in the past week and a 49% rise in the past fortnight.

Cardano (ADA) price chart.

ADA’s indicators remain strong despite its dip today. Its 30-day average continues to rise clear of its 200-day average. Similarly, its RSI remains just above 50.

Looking at Cardano’s fundamentals, it’s likely that ADA will be one of the biggest-growing altcoins over the coming months. This is because Cardano has been growing rapidly over the past few months, with its launch of smart contracts in September followed by Cardano’s ecosystem expanding to more than 500 projects.

From standing at only $1 million at the start of January, Cardano’s total value locked in has now risen to $300 million. This is a rise of over 30,000%, with the launch of its DEX SundaeSwap in January largely responsible for this growth.

Not only that, but Input Output Hong Kong continues to develop Cardano and announce new projects. This is why ADA is one of our 5 cheap cryptocurrency to buy for short-term profits.

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Source: https://insidebitcoins.com/news/5-cheap-cryptocurrency-to-buy-for-short-term-profits-april-2022