This article discusses seven cheap cryptocurrencies to buy in 2023 based on their current market capitalization and price. The seven cryptocurrencies mentioned are Stellar (XLM), Gala (GALA), Ankr Network (ANKR), VeChain Thor (VET), Algorand (ALGO), Decentraland (MANA), and Siacoin (SC).
It’s intriguing to inquire about the most affordably priced cryptocurrency to invest in by 2024. Here are our handpicked top seven low-cost options, each with promising growth prospects.
Recently, Bitcoin (BTC) gained significant attention with its record-breaking price of over $73,000, making it the most expensive cryptocurrency globally. Furthermore, its market capitalization surpassed $1.3 trillion, setting a new benchmark in the crypto world.
As a cryptocurrency analyst, I find myself pondering over the affordability of Bitcoin’s substantial price tag for the typical investor. It poses an intriguing query: which cryptocurrency holds the title as the most affordable in the market?
In this article, we’ll quench your interest by sharing the five most affordably priced cryptocurrencies currently available in the market, along with making a case for the top 7 budget-friendly options worth considering. Continue reading to discover more.
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World’s cheapest cryptocurrency
Approximately 2.4 million cryptocurrencies are presently available in the market, according to the data provided by the popular cryptocurrency price tracker, CoinMarketCap.
At present, according to CoinMarketCap’s data, Elon’s Cat (CATME), a meme coin inspired by Elon Musk, is priced at an astonishingly low $0.000000000000000002318. This minuscule value makes it the most affordably priced crypto in the global market.
“OSL AI (OSL) puts CATME to the test with its zeros. According to CoinMarketCap, this token is issued by BC Technology, a Hong Kong-based firm specializing in crypto custody and brokerage services catering to the Asian market.”
Among the least expensive cryptocurrencies globally, ranked third, is another humorous digital currency called Doge Satellite Inu (DOGE).
As I pen down this text, one Open Sea Slate (OSL) was valued at an astonishingly small $0.0000000000000000000003242. The reported circulating amount of OSL in the market is a massive 42,069,000,000,000 units, resulting in a market worth of approximately $13,630.36.
As an analyst, I’d like to clarify that Doge Satellite Inu should not be mistaken for the well-known meme coin, Dogecoin (DOGE), which shares the same ticker symbol. Doge Satellite Inu has a reported price of zero Quadrillionths of a DOGE, with a circulating supply supposedly amounting to 999.6 trillion DOGE.
It’s worth noting that Dogecoin X, identified by the DOGE tag and boasting a total supply of 143.5 trillion coins, currently has a unit price of approximately 0.000000000000007686 USD per coin.
Rounding out our list of the five most affordably priced cryptocurrencies available today is BNBsongoku (BNBSONGOKU). This deflationary token operates on the Binance Smart Chain (BSC). According to data from CoinMarketCap, this digital currency was introduced in October 2023 and boasts a staggering total supply of “ten septillion billion” units.
The mission statement for the project associated with the token specifies its goal of lessening carbon dioxide emissions and advocating for the adoption of renewable energy sources. Currently, one BNBSONGOKU is priced at an astonishingly small value of $0.000000000000000008127.
Top 7 cheapest crypto to buy
As a financial analyst, I would caution against investing in the coins I’ve mentioned based on the available information alone. It is crucial to authenticate each coin and obtain additional data regarding their market trends before making any investment decisions.
If you’re looking for affordable cryptocurrencies to consider investing in, check out this list for some potential options with relatively low prices.
1. Ripple (XRP)
XRP, or Ripple in full form, serves as a peer-to-peer payment solution aiming to surpass traditional systems such as SWIFT. Established in 2012, it offers the capability for instant cross-border transactions in multiple currencies.
As a financial analyst, I’ve observed that the native cryptocurrency of Ripple, XRP, hit an all-time high of $3.40 back in early 2018. However, its price has predominantly stayed below the dollar mark since October 2021.
Currently, XRP is priced at $0.5243, a nearly 85% discount on its all-time high (ATH) price.
XRP has a max minting capacity of 100 billion coins and a totally valued market cap of around $52.4 billion. Due to its usefulness and affordable pricing, XRP represents an excellent opportunity for novice investors.
2. Cardano (ADA)
Cardano, represented by the symbol ADA, is a flexible and advanced proof-of-stake blockchain network. It’s renowned for its scalability and capability to support smart contracts. Additionally, it boasts impressive efficiency and potential to process up to two million transactions per second.
Charles Hoskinson established Cardano in the year 2017. The digital currency’s native token, ADA, reached its peak price of $3.10 in November 2021. At present, its price stands at $0.4586. Despite having a substantial market capitalization exceeding $16.3 billion, ADA is among the cryptocurrencies with the most affordable prices.
In contrast to XRP‘s minor 3.1% increase in value during the past year, according to CoinGecko data, ADA has exhibited significantly more vigor, experiencing a 30% price surge over the same period.
3. The Graph (GRT)
I serve as an analyst studying the blockchain landscape, and one intriguing project I’ve come across is The Graph (GRT). This protocol, colloquially referred to as the “Google of blockchains,” was unveiled back in 2018. The native token associated with it, GRT, made its debut in the market in 2020.
As a researcher studying The Graph, I can share that this decentralized indexing and querying protocol connects with multiple blockchain networks. Its robust governance system is reinforced by The Graph Council and The Graph Foundation.
The current market price of GRT is at $0.2987, representing a significant increase of over fourfold from its all-time low of $0.05205, which was reached in November 2022. However, it remains substantially below its all-time high (ATH) value.
As a market analysis expert, I would express it this way: With a market capitalization of $2.8 billion, GRT ranks at number 49 amongst the largest cryptocurrencies by market value. This positioning places GRT among the more affordable coins to invest in from the top 100.
4. Tron (TRX)
As a blockchain analysis expert, I’d describe Tron (TRX) as my perspective: Tron is a decentralized internet platform built on a blockchain. It utilizes a unique consensus mechanism called Delegated Proof-of-Stake (DPoS), whereby token holders delegate their voting power to trusted nodes, or “witnesses,” to validate transactions and secure the network.
In 2017, crypto figure and previous ambassador of Grenada to the World Trade Organization (WTO), Justin Sun, introduced Tron as a new blockchain platform. Later in 2018, Tron shifted from being based on Ethereum‘s infrastructure to operating independently on its own blockchain system.
The native TRX token of this platform reached its peak price of $0.2317 on January 5, 2018. Currently, it is priced at $0.1147 and boasts a market capitalization slightly over $10 billion.
As a researcher studying the cryptocurrency market trends over the past year, I’ve observed an approximately 45.3% price increase for TRX. Despite this growth, TRX continues to hold one of the lower end prices among the top digital currencies, with its market cap ranking it at the sixteenth most valuable position.
5. Stellar (XLM)
XLM, the native token of Stellar, was introduced in 2014 as part of an open-source payments system. This platform is known for enabling swift and affordable cross-border transactions.
Over the past few years, Stellar has experienced remarkable growth, handling vast numbers of transactions totaling in the billions, and forging pivotal collaborations. Notable among these partners are MoneyGram, Circle, and Franklin Templeton.
As a crypto investor, I can tell you that Stellar (XLM) is presently trading at around $0.1062 on the market. This price is a significant drop of approximately 88% compared to its all-time high (ATH) of $0.8756, which it reached back in 2018. On the other hand, XLM has experienced substantial growth since its all-time low (ATL) in March 2015, with a price increase of roughly 22219.7%.
According to information from CoinGecko, XLM is currently among the least expensive coins in the top 100 cryptocurrencies based on market cap. Despite this, its present value represents a 21% rise compared to a year prior.
6. Gala (GALA)
As a crypto investor, I’d be happy to share that one affordable option among the top 7 cryptos to consider is Gala (GALA). This platform is based on blockchain technology and offers an engaging experience for gamers. With Gala, users have the unique ability to control in-game assets and even contribute to development projects within their favorite games.
The value of the GALA token hovers around $0.04545, making its total market worth approximately $1.61 billion, with this digital currency being employed for buying NFTs and in-game assets.
“The current price represents a 95.5% discount from GALA‘s record high valuation of $0.8248 per token, which was reached back in November 2021.”
From a researcher’s perspective, investing in this project now offers a significant discount given its frequent daily trading volume exceeding $100 million. This coin’s enduring appeal among crypto traders is underscored by such robust trading activity.
7. Ankr (ANKR)
As a crypto investor, I’d describe Ankr Network (ANKR) as a project I’ve been following since its inception in 2017. Founded by Chandler Song, it aims to streamline web3 development for me and fellow investors. By offering a blockchain-based cross-chain infrastructure, Ankr Network supports the growth of decentralized finance (DeFi) and decentralized apps (dApps). Essentially, it’s like having a one-stop solution for all my DeFi and dApp development needs, making my investing experience more convenient and efficient.
Ankr’s staking solution, named Stkr, enables Ethereum staking while providing ample liquidity for those participating in Ethereum 2.0.
The ANKR token, which is indigenous to its network, stands out as being affordably priced among the globe’s 200 largest cryptocurrencies in terms of market capitalization.
As a researcher examining the current market landscape, I come across ANKR, which is presently valued at a price of $0.04495. This equates to a substantial market capitalization of $449 million. Moreover, an impressive amount of over $80 million is secured in total value locked (TVL) within the ANKR ecosystem.
The current price represents an 87% rise in the past year and a staggering 6245.5% surge since its record low on March 13, 2020.
Final thoughts
As a crypto investor, I’ve found that investing in digital currencies doesn’t necessarily mean breaking the bank. While Bitcoin grabs the spotlight with its soaring prices and immense market value, there exists a multitude of low-cost cryptocurrencies that boast impressive growth potential.
As a cryptocurrency analyst, I’ve compiled a guide showcasing some economical cryptocurrencies that emerged as top contenders in 2024. Ripple offers a robust payment solution with its platform, making it an attractive choice for those seeking practical applications. Cardano, on the other hand, boasts a scalable blockchain, providing seasoned investors with opportunities to build on its foundation. Each of these cryptocurrencies brings unique value and potential investments for both newcomers and experienced market participants.
As an analyst, I would advise against making hasty decisions based solely on low prices when it comes to investing in cryptocurrencies. Instead, I strongly recommend conducting comprehensive research and taking a long-term perspective before committing any funds. By staying informed and strategic, we can effectively navigate the crypto market and identify opportunities that align with our investment objectives.
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2024-06-07 17:35