With over 1.8 million cryptocurrencies available in the market, speculators could be unsure about which project to focus on, for doing their due diligence before even thinking about buying. Therefore, listening to others often provides a shortcut for relevant pieces of information, but it must be done with caution.
With that in mind, Finbold picked a list of five interesting cryptos, that are being exchanged for under $1 per unit, on August 11. Based on third-party analysis, economic fundamentals, and news development — as a guide for further research next week, and not as an investment recommendation.
The following list is ordered by market cap.
Michaël van de Poppe, CEO & Founder at MN Trading, says he is waiting for for an entry point on XRP (XRP): “I think it will do well and should be in your bags coming period.”
With current updates on the Ripple vs. SEC case, this entry point might even happen next week, as there are uncertainties regarding the most recent statements by the US authority.
XRP is trading at $0.63, by press time. With 0.25% gains in the last 24 hours, and a loss of 5.55% in a 7-day timeframe.
The Bank for International Settlements (BIS) announced Ripple as an official member of its ‘cross-border payments interoperability and extension taskforce’, on August 9.
Decentralized Finance (DeFi) investors are showing a growing interest in Cardano (ADA), as observed by an also growing Total Value Locked (TVL) into the Cardano Ecosystem, reaching an all-time high of 600 million ADA invested among 24 DeFi protocols.
The growing activity was also reported by Messari, with the second quarter of 2023 being the best-performing quarter-over-quarter (QoQ) for Cardano. A few highlights in the report:
- Average daily DApp transactions increased for the third consecutive quarter;
- Dapp activity accelerated to a 49.0% QoQ increase in Q2, averaging 57,900 daily transactions;
- Protocols created in the last six months accounted for 47.4% TVL dominance in Q2.
ADA is trading at $0.29, by press time. With 1.02% losses in the last 24 hours, and 0.44% in a 7-day timeframe.
Shiba Inu (SHIB)
According to data retrieved by Finbold from The Coin Perspective, if Shiba Inu had Dogecoin’s market cap of $10.6 billion, 1 SHIB would be worth $0.000011, for an upside of 45% over current prices, considering a projection based on Shiba Inu (SHIB)’s fully diluted market cap of $10.2 billion, by press time.
This expectation comes as the launch of Shibarium approaches. Shibarium is a layer-2 (L2) blockchain for Ethereum, built in the Shiba Inu ecosystem, that will have a decentralized exchange (DEX), a metaverse, and blockchain games, such as Shiba Eternity.
SHIB is trading at $0.00001018, by press time. With 2.10% gains in the last 24 hours, and 18.64% in a 7-day timeframe.
The crypto technical analyst (TA), Cryptollica on Twitter (X), sees an ‘Inverse Head and Shoulders’ pattern in play for the XNO/USDT chart, which might be just about to happen if the trending reversal is confirmed in the following days. Something similar happened in the past before nano (XNO) went to chase the local top between $17-18 in 2021 — as shown by the analyst.
Nano is a low-cap (rank 275 on Coingecko) crypto fully distributed in 2017 with a total and circulating supply of 133.2 million XNO. Its protocol allows for worldwide permissionless transactions with zero fees, usually deterministically confirmed in under a second.
The most recent protocol update (v25) improved the network’s performance and resilience against transaction spam.
XNO is trading at $0.66, by press time. With 0.83% losses in the last 24 hours, and a loss of 1.78% in a 7-day timeframe.
Arkham Intelligence is an on-chain intelligence platform that launched, on July 10, an intelligence marketplace, using a novel model, called by the team “intel-to-earn”. The platform launch was followed by an airdrop and launch of its own ARKM token which surged 1,500% after listing on Binance.
The platform is growing and the token demand could grow with it, as the crypto asset is the internal means of exchange for intel bounties, but also a governance token for users to directly participate in the business’s next steps.
ARKM is trading at $0.419, by press time. With 2.04% gains in the last 24 hours, and 8.49% losses in a 7-day timeframe.
The program has sparked controversy among privacy enthusiasts and the cypherpunk wing of the crypto community for encouraging the trading of “nitpicking” information about transactions carried out on blockchains.
However, the ability to identify the entities behind blockchain transactions could have prevented the loss of billions of dollars in cryptocurrencies, according to the CEO of Arkham, amid the controversy dedicated to “deanonymizing the blockchain.”
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.