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The XRP ledger, originally developed by Ripple for cross-border payments, is now widely used. At the beginning of the year, 88% of transactions on the network were payments, while only 12% involved "OfferCreate Transactions." Currently, these two categories account for 50% of transactions, reflecting a significant increase in non-payment activity.
This shift indicates that users are increasingly interested in the additional features of the XRP ledger, including issuing new assets and utilizing decentralized exchange (DEX) functions, as trading activity on the network continues to grow. At the same time, data from Santiment shows that the development of the top ten crypto ecosystems has made significant progress, highlighting their innovation and growth potential. In light of this, investors are looking for affordable tokens, especially the best cheap cryptocurrencies that are now below $1.
5 Best Cheap Cryptocurrencies for Under $1
Ripple (XRP) experienced a brief price increase this week as two financial companies submitted an XRP ETF proposal to the U.S. Securities and Exchange Commission (SEC). Meanwhile, the TRON network's popularity has increased, reflected in its rising share of transactions among major altcoin blockchains. Cronos (CRO) is currently trading at $0.071761 with a 24-hour trading volume of $8.22 million.
In addition, Pepe Unchained (PEPU) continues to gain momentum, with its pre-sale exceeding the $24 million milestone.
Bitcoin price drops below $68,000 as entire crypto market shows signs of weakness ahead of upcoming election
1. XRP (XRP)
This week, Ripple (XRP) briefly rallied after two financial services companies filed an XRP ETF proposal with the SEC. Ripple gained nearly 10% on the news, though it later returned to previous levels. Although there are still many hurdles, these applications represent an important step towards ETF approval. Approval may not happen soon, which could limit Ripple's price. Analysts warn that investing in XRP now may carry downside risks, and if the price drops, better entry opportunities may emerge.
XRP is priced at $0.501995, having lost 1.68% in the past 24 hours. In the past 30 days, XRP has seen 16 days of positive movement, accounting for about 53%, and remains highly liquid according to the market capitalization.
The third quarter 24 XRP market report is now available.
The last quarter saw major milestones and partnerships including the launch of an ETH ETF, increased speculation surrounding the U.S. presidential election, and the announcement of RLUSD’s exchange partners and advisory board.
https://t.co/BHJ1QViLlH
- Ripple (@Ripple)
November 1, 2024
For November, the forecast suggests that XRP could rise and the price could reach $0.599612. The expected range during this period is between $0.503411 and $0.677013. This could provide an estimated gain of up to 34.89% for those who buy now and sell at the predicted high. This outlook relies to some extent on recent market trends.
2. TRON (TRX)
The TRON network has recently received increased attention, reflected in its share of transactions among major altcoin blockchains. As of October 30, TRON accounted for 43% of the total transaction volume among major altcoin chains, making it the network with the largest transaction volume.
In October alone, TRON processed approximately 230 million transactions. On October 24, TRON's daily activity increased significantly, processing 10.46 million transactions, which is approximately 25% higher than the 30-day average. This trend is consistent with TRON's broader trading activity in 2024, which often leads to increased transaction volume.
However, TRON’s total transaction share declined slightly between late August and early October as activity on competitor networks increased. TRON’s total transaction share is stable, indicating that it will continue to be the dominant alternative chain if recent trends continue.
? October integration on TRON
Looking forward to future developments and more exciting integrations as we push the industry forward together! ?
pic.twitter.com/QXG7JSzw26
- TRON DAO (@trondao)
November 1, 2024
In terms of price, TRON (TRX) is trading at $0.164452, down $0.95% in the past 24 hours. However, over the past year, TRX is up $68%, outperforming more than half of the top 100 crypto assets. The price is also above its 200-day simple moving average (SMA) by about 20.55%, currently at $0.136391.
Compared to its token sale price, TRX has been in the green for 15 of the past 30 days, accounting for 50% of the time. TRON’s recent metrics show that as a high transaction network, it has maintained a good price performance.
3. Cronos (CRO)
Cronos (CRO) is currently priced at $0.071761 with a trading volume of $8.22 million in the past 24 hours. The market cap is $1.91 billion and the coin market cap is 0.08%. In the past day, CRO has lost 1.33% in value. However, it has gained 7% overall in the past year.
Forecasts show that a shift in market trends may occur in November 2024. Analysts predict that CRO may rise to about $0.08334. The expected trading range is between $0.0718 and $0.090752.
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https://t.co/D3tBDcUvLD
- Cronos (@cronos_chain)
November 3, 2024
This forecast is influenced by the performance observed in the previous month. If an investor decides to buy CRO at the current price, they could potentially receive a return on investment of approximately 25.99% if they sell at the expected price.
4. Stellar (XLM)
Stellar (XLM) is a decentralized peer-to-peer (P2P) network established in 2014 by the Stellar Development Foundation (also known as Stellar.org). The network was officially launched in 2015 with the goal of connecting various financial systems around the world. Its design facilitates the fast, reliable and low-cost movement of financial resources, providing a platform for banks, payment processors and individuals to create, send and trade different types of cryptocurrencies.
As of today, Stellar is priced at $0.09074, down 1.86% in the past 24 hours. The current sentiment around XLM is pessimistic, although the Fear & Greed Index shows a score of 69, reflecting the state of greed in the market. In the past month, there have been 16 days when the closing price was higher than the opening price, accounting for 53% of the time.
Looking ahead to November 2024, forecasts suggest that there could be a shift in market trends, with analysts predicting that XLM could rise to around $0.136417. The price is expected to fluctuate between $0.090659 and $0.158612. If investors buy XLM at the current price and sell at the expected price, they could see a return on investment (ROI) of around 74.72%.
5. Pepe Unchained (PEPU)
Pepe Unchained (PEPU) has been gaining more and more attention in the crypto space, with its presale exceeding $24 million. The project aims to build the first Layer 2 ecosystem focused on joke tokens, potentially changing the landscape of humor-based tokens.
The Pepe Unchained network solves the problems associated with Ethereum-based tokens. Ethereum processes approximately 15 transactions per second, resulting in high gas fees and missed transaction opportunities. In contrast, PEPU promises transaction speeds that are 100 times faster, enhancing the user's trading experience.
The upcoming Layer 2 network will provide important tools, including instant connection to Ethereum, dedicated chain explorer, decentralized exchange (DEX), and advanced analytics. These components are expected to improve usability and encourage coin developers to stay on the Ethereum network.
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