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2022 turned out to be a challenging year for the crypto and altcoin market. The collapse of the Terra ecosystem and Sam Bankman-Fried’s FTX exchange shook the industry. Since then, most digital assets lost significant value and are trading at a discount.
The BeInCrypto editorial team has selected 5 altcoins currently trading for less than $1, which could perform well in the next bull market.
1. Cardano (ADA)
The native token of the decentralized blockchain platform Cardano became one of the leaders of the 2021 bull market. Many investors made huge profits on ADA. Currently, the price of the asset is 88% lower than its all-time high of $3.09. The historical maximum was reached on September 2, 2021.
However, despite the price decrease, ADA still runs on the same reliable network. It offers cheap and fast transactions and also continues attracting the development of more applications.
Historical maximum: $3.09
Current price: $0.373
2. Audius (AUDIO)
AUDIO is the native token of the Audius music streaming platform. It is intended for managing access to the platform’s functionality and ensuring security.
The platform uses blockchain technology to facilitate direct contact between musicians and their fans, eliminating the need for intermediaries. Given the constantly growing interest of crypto community members in new ways of monetizing content and integrating web3 solutions, AUDIO still has the potential for significant growth.
Historical maximum: $4.95
Current price: $0.23
3. Polygon (MATIC)
Polygon is one of the most well-known Layer 2 (L2) scaling solutions for Ethereum. Numerous partnerships, integrations, and developer activity have helped the project stay afloat even in a difficult year for the entire cryptocurrency industry.
The price of MATIC has remained fairly stable for several months now. This indicates a steady demand from investors, which is very important in the conditions of a prolonged bear market.
Historical maximum: $2.92
Current price: $0.86
4. Curve (CRV)
Curve Finance is a decentralized exchange (DEX) with an automatic market maker technology designed for efficient trading with minimal slippage and fees. The platform is one of the leading DeFi protocols in terms of total value locked (TVL) in smart contracts and the number of active users, second only to Uniswap.
The growing interest of users in decentralized protocols can work in favor of Curve and also positively impact the price of the CRV token.
Historical maximum: $15.37
Current price: $0.81
5. Ripple (XRP)
Ripple is a long-standing player in the crypto market, existing since 2012. It has experienced many ups and downs during that time. The company offers an alternative to the international interbank system for transmitting information and making payments, SWIFT. Users make transfers and payments on the Ripple network using the native cryptocurrency XRP.
Currently, the U.S. Securities and Exchange Commission (SEC) is engaged in a legal battle with Ripple. However, key industry players are confident that Ripple will likely emerge victorious. If this happens, it would not only lead to a surge in the price of XRP but also represent a huge step forward for the entire crypto community.
Historical maximum: $3.40
Current price: $0.42