Join our Telegram channel to stay updated with the latest news coverage. After a tough month, the cryptocurrency market is showing signs of recovery. The total value of all cryptocurrencies has risen by 8% in the past few days, with Ethereum (ETH), Ripple (XRP) and Polkadot (DOT) leading the gains in the past 24 hours.
However, with many major coins rising, we have selected 5 of the best cryptocurrencies to buy at a low price. These include coins that are cheap as well as coins with higher potential.
5 Best Cryptocurrencies to Buy Cheaply
1. Bitcoin (BTC)
Bitcoin (BTC) may be the most expensive coin on the market, but it remains one of the best cryptocurrencies to buy cheaply. The price is up 10% at $35,000 and has remained stable over the past seven days.
As shown in the above chart, BTC has fallen 14% in the past 14 days. In other words, it still has a lot of room to make up and is expected to make good gains.
Research also shows that Bitcoin is still cheap relative to historical trends. For example, a June 14 report from Pantera Capital found that Bitcoin’s price is 36% below its 11-year historical trendline. At the time, 1 BTC was worth about $40,000. Therefore, now that Bitcoin is priced at $35,000, it is 44% below the price indicated by the trend.
Basically, it’s cheap. Bitcoin “should” be more expensive, judging by historical price data. That’s why it’s one of the best cryptocurrencies to buy cheaply.
It is also arguably the cryptocurrency with the best prospects for future adoption. Recently, Mexico’s third-richest man, Ricardo Salinas Pliego, revealed that the bank he owns, Banco Azteca, is working to accept Bitcoin. Pliego previously invested about 10% of his liquid asset portfolio in Bitcoin. Therefore, his claims can be taken seriously.
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2. Ethereum Classic (ETC)
Ethereum Classic (ETC) is a fork of the more familiar Ethereum (ETH) blockchain. Its native token, ETC, has fallen sharply in recent weeks. Its current price of $51 is down 69.5% from its all-time high of $167 (May 6). However, it has rebounded strongly recently, up 20% in 24 hours and 27% in a week.
This short-term rise highlights the potential of ETC. It remains undervalued relative to its all-time high and has fallen 21% in the past 30 days. Nevertheless, it is the second best performing cryptocurrency in the past 90 days, second only to Dogecoin (DOGE).
Ethereum Classic also has some important upcoming events that could boost its price. It is scheduled to undergo a major hard fork at the end of July. This will optimize gas usage and allow for enhanced transactions while improving security. Therefore, it is expected that this fork will boost the price of ETC in the coming weeks.
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3. Ripple (XRP)
Ripple (XRP) is severely undervalued relative to its potential. Currently priced at $0.677, it is up 5% in the past 24 hours and nearly 10% in the past week. However, it is down 24% in the past 14 days and 18% in the past month.
XRP’s price has also fallen significantly from Ripple’s all-time high of $3.40, which it hit in January 2018, making it one of the few cryptocurrencies that did not hit a new all-time high during the bull run in late 2020 and early 2021. While this may be disappointing to fans of the coin, it also shows how cheap it is relative to its history.
The most important event for Ripple and XRP right now is the lawsuit filed against it by the U.S. Securities and Exchange Commission (SEC). After the lawsuit was announced in December last year, the price of XRP fell by half, especially after exchanges delisted it. Fortunately, things have improved for Ripple since then, and some of the company's requests and motions have been approved.
This shows that Ripple has a good chance of a favorable outcome. If successful, the current XRP price of $0.677 will look very cheap. That is why it can be said to be one of the 5 best cryptocurrencies to buy at a low price.
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4. Polygon (MATIC)
Polygon (MATIC) is a well-positioned cryptocurrency that is expected to surge in the overall market recovery. Its price of $1.16 is down 25% over the past two weeks and 31% over the past month. It is also down 56% from its all-time high of $2.62 (May 18).
MATIC has seen some recovery in recent days. It is up just over 3% in the last 24 hours and 5% in the past week. However, considering these gains are relatively small (compared to other major cryptocurrencies), it is clear that MATIC still has a lot of room to run.
As a platform, Polygon is arguably one of the most exciting in the cryptocurrency space. In recent weeks, it has attracted more and more applications to join its network. It has also launched various new products, such as a software development kit (SDK) for Ethereum-compatible blockchains and a new blockchain Avail. Given its rapid expansion, the current price is likely to offer a significant discount.
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5. Internet Computer Program (ICP)
The Internet Computer (ICP) is a cryptocurrency that generated a lot of hype after its launch in May. Unfortunately, it has been underperforming since then, falling from its all-time high of $700 to its current price of $47.72. This means that it is down about 93% since its all-time high (which was set on May 10). Of course, while this may scare off some traders, it also suggests that it has the potential to rebound significantly in the coming months.
In fact, ICP has performed well over the past week. It is up 15% in the past 24 hours and 30% in the past week. This highlights how cheap it was just over a week ago, and how cheap it still is today.
Indeed, as a platform, the Internet Computer has huge potential. Since it aims to decentralize the cloud and provide a distributed internet, it could become very large if it really takes off. While still in its early stages in this regard, the platform has already received a lot of serious backing. For example, it raised $61 million from Polychain Capital and Andreessen Horowitz in 2018, while it also launched a $220 million fund in May for developers to expand its network.
Therefore, it has a good chance of success. If it comes close to achieving its ambitions, $47 will prove to be a very low price.
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