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The third month of 2023 is coming to a close with a hint of pessimism due to a new regulatory offensive on the world’s largest cryptocurrency trading platform Binance. And while the chatter is mostly focused on the assets costing thousands of dollars apiece, there are lots of those that can be purchased for $1 or less.
In this context, Finbold has scoured the crypto market, analyzing digital assets’ recent performance and important developments to produce a list of cryptocurrencies that can still be obtained for under a dollar, making them worthwhile to keep an eye out for in April.
Shiba Inu (SHIB)
Shiba Inu (SHIB) has recently reignited investor attention by becoming one of the cryptos accepted at Burger King Paris courtesy of Alchemy Pay and Binance Pay, but it is the latest update to the Shibarium testnet that has chased away the ‘FUD’ (‘fear, uncertainty, doubt’) surrounding the upcoming Layer 2 network over Shibarium’s chain ID sharing the same ID as the Rinia testnet blockchain.
Although the meme coin has been recording poorer performance under the influence of the overall crypto market sentiment, its successes over time have managed to push its value upwards by 26.84% since the year’s turn, at press time changing hands at the price of $0.00001031.
Dogecoin (DOGE)
One of Elon Musk’s favorite cryptos, Dogecoin (DOGE) has had a history of price hikes driven by the Tesla (NASDAQ: TSLA) and Twitter CEO’s tweets on it and it has recently happened again. Specifically, Twitter user DogeDesigner expressed to Musk the desire to visit the Twitter HQ, to which the prominent DOGE advocate jokingly replied it would “cost 3 Doge,” sending its price up.
At the same time, the Dogecoin Foundation released a major update to its libdogecoin toolset that included several new features, fixes, and improvements, such as the QR code support, which, combined with the community’s enthusiasm related to Musk’s support, indicates a chance of further strengthening from its current price of $0.07229.
Stellar (XLM)
One of the oldest protocols designed to boost payment capabilities around the globe, Stellar (XLM) has demonstrated continuous strength since the year’s turn, thanks to the development of its new smart contract platform Soroban, which is designed to function on top of Stellar and “advance and uphold this mission.”
On top of that, the central bank of Brazil has recently begun tests on the Stellar blockchain to launch its own central bank digital currency (CBDC), called Digital Real, due to the network’s high functionality and design facilitating mass enterprise adoption, coinciding with XLM price advancing 6% in the last month and 6.89% in the previous week, at press time trading at $0.09.
VeChain (VET)
Meanwhile, Layer 1 enterprise blockchain ecosystem VeChain (VET) has recently unveiled the new VET 3.0 whitepaper, in which the company presented an in-depth roadmap of the VeChain protocol in the next few years with an increased focus on sustainability in the crypto space.
Additionally, the ecosystem’s team has managed to (re)capture investor interest with the demonstration of its wine NFT solutions at ProWein, the annual wine and spirit industry fair held in Düsseldorf, Germany, contributing to a year-to-date (YTD) price increase of 35.7% to the current $0.02.
Fantom (FTM)
Finally, Fantom (FTM) recently announced its plans to modify the requirements for validator staking on its platform, reducing the minimum requirement to a more budget-friendly 50,000, 75,000, or 100,000 FTM, from the previously exorbitant 3.175 million FTM, that was subsequently reduced to 500,000 FTM (compared to Ethereum’s 32 ETH).
Furthermore, Fantom has also introduced a new mainnet upgrade that promises to speed up P2P and block processing times by 30%, as well as allow the network to process certain files and search logs more quickly. Since January 1, FTM has gained over 100% in its price, despite losing 12.68% in the last week, currently trading at $0.40.
Conclusion
All things considered, no smart investor should restrict themselves to assets that cost less than $1 just because they are a cheap way to accumulate tokens and coins. However, the abovementioned cryptocurrencies are among the most promising investments for April 2023.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.