Usually, the most precious gems are the hardest ones to find. This logic can also be true for cryptocurrency investing, with valuable cryptocurrencies sometimes going unnoticed by the majority.
In this reasoning, Finbold looked to the cryptocurrency market low-cap projects with sub-$1 billion in capitalization. Notably, we found three cryptocurrencies with solid fundamentals and relatively low perceived value.
In the past, sub-$1 billion market cap assets managed to cross this psychological resistance in a matter of days. Interestingly, some achieved it with a purely speculative demand, without solid fundamentals, like Pepe (PEPE) and, most recently, Bonk (BONK) and Ordi (ORDI).
Picks for you
However, the following list will focus on projects capable of attracting organic demand by utility. In particular, the best three cryptocurrencies with a sub-$1 billion market cap to watch for 2024 are Nano (XNO), Radix (XRD), and IoTeX (IOTX).
Nano (XNO)
Nano facilitates instant transactions without fees, revolutionizing decentralized payments with unmatched speed and efficiency. Additionally, XNO has been fully distributed from 2015 to 2017, unveiling a cryptocurrency with no supply inflation. It started as an open-source project in 2014 by Colin LeMahieu, currently driven by a community of volunteer supporters.
In the meantime, nano went from $0.005742 to $37.73 less than a year after launch in a fully speculative bull rally. The network was tested and improved in the following years, building a passionate community despite its poor price action.
XNO trades at $1.14 by press time, with a $151 million market cap. Ranked among the top 300 cryptocurrencies and a simply unique focus of providing reliable decentralized peer-to-peer transactions in the most efficient way possible.
Radix (XRD)
Radix is innovating the DeFi space to deliver a “radically better” technology for Web3 development. Its scalable platform ensures secure, low-cost transactions, fostering a new era in financial applications.
Notably, Radix has an asset-oriented transaction model, promising to eliminate most of DeFi’s current hurdles. It is a competitor to Ethereum (ETH), designed by Dan Hughes to solve identified issues from the leading Web3 cryptocurrency. Radix’s development dates from 2013, involving a decade of research before launch.
Price-wise, XRD has a short life, with its first trading record being on June 2, 2022, at around $0.01597 per wrapped token on the Ethereum network. Radix mainnet’s life is even shorter, going live on September 29, 2023, finally with XRD as its native token. As of writing, XRD is trading at $0.0422 after reaching an all-time high of $0.1565 per token.
IoTeX (IOTX)
Finally, IoTeX is driving the Internet of Things (IoT) forward. Its blockchain technology unlocks secure, private, and interoperable devices, revolutionizing how we interact with smart gadgets.
Its developing team promises to provide the link with the real world through the IoTeX blockchain and smart devices. The solution was launched in 2019 after starting as an open-source project in 2017 and is one of the few projects really connecting its blockchain to the Internet of Things through real devices and demand.
Notably, the native token IOTX trades at $0.05 by press time. Trading for as high as $0.26 in 2022 and as low as $0.001 during 2020’s crash.
On the other hand, the three aforementioned cryptocurrencies represent high-risk assets from an investment perspective. This is due to their low market cap and liquidity, bringing high volatility and uncertainty from a speculative perspective.
In conclusion, investors must act cautiously while investing in sub-$1 billion market cap cryptocurrencies. Doing their due diligence and understanding what they are investing in is a must, as well as applying proper risk management strategies.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
