What will be the next crypto to hit $1 in 2024? With healthy trading volumes in the crypto market, savvy traders are looking for the best penny crypto to buy right now.
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Next Crypto to Hit $1 in 2024
Finding the next crypto to hit $1 in 2024 is not, of course, an exact science. Finding the cheapest and best crypto to buy in 2024 involves a few factors.
You can check the market capitalization, price, and what problem a project is actually trying to solve when considering the best cryptocurrencies under $1.
In this article, we’ve outlined a number of cryptocurrencies at various stages in their journey. We’ve outlined the top 6 cryptos to hit $1 in 2024 and divided the first two sections into high-cap and low-cap coins.
Best Low-Cost Cryptos to Buy Now
Nobody can ever tell you what crypto you should buy next. What we will do, however, is highlight a list of projects that are generally considered reputable and show potentially promising price history in their sub-$1 token. Let’s start with some of the higher-cap coins.
The Graph (GRT)
The Graph (GRT) is a project focused on making Web3 information more easy to sift through online. To start with, The Graph is indexing all the information on the Ethereum network.
This means that, in theory, users will be able to open a Web3 browser and search for information on Ethereum, much like the Google search engine allows you to search for information on Web2.
For example, let’s say a decentralized app (dApp) needs to show historical and real-time price info for Ethereum, or it needs to read information from smart contracts on the network. These are tasks that would be made easier, cheaper, and faster if The Graph is successful.
The Graph token is called GRT. It’s currently trading at $0.31 with a 24-hour volume of around $70,000 and a market cap above $3 billion. It’s up 28% on the month and 166% on the year as interest in the project continues to grow.
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Hedera Hashgraph (HBAR)
Hedera Hashgraph (HBAR) is a proof-of-stake distributed ledger, making it similar to Ethereum in many regards. However, Hedera documentation states its aim to be faster, more compliant, and more scalable than Ethereum. While faster transactions are straightforward to achieve for a project that doesn’t handle as many transactions as Ethereum, the scalability is the truly attractive factor.
Scalability is a major issue in Web3, referring to the effort to make blockchain networks usable for a growing number of people without slowing down. Hedera is a popular contender to Ethereum, but of course, has the disadvantage of not having as many apps built on it as Ethereum. Nevertheless, it has attracted attention from retail and institutional investors alike.
HBAR is now priced at $0.11, up over 100% this year. The market cap for the coin is $3.8 billion.
Stellar (XLM)
Stellar (XLM) focuses on making cheap cross-border payments with cryptocurrency. In a way, the project has a similar goal to that of Ripple, but where XMR is primarily for banks and institutions, Stellar’s XLM is primarily aimed at peer-to-peer remittance payments for average people as well as businesses.
The project is popular and considered reputable, particularly after partnering with business giant IBM to handle cross-border payments on an industrial level.
XLM is now trading at $0.10, and the price has remained relatively static for a cryptocurrency, ranging between $0.07 and $0.16 in the last 12 months. This could be viewed as a positive trait for some traders, as consistent pricing and less volatility can be considered healthy price consolidation. The Relative Strength Index (RSI) for XLM is currently 44 which indicates that XLM is neither oversold nor overbought at this time.
Promising Cheap Cryptocurrencies for 2024
Let’s take a look at some more best altcoins under $1. These projects have even smaller market caps that might be promising buys for 2024.
It’s important to remember that as a project’s market cap gets smaller, the likelihood of price volatility and potential losses can increase. This next list suggests possible candidates for the best penny crypto to buy right now are higher risk. You should always do your own research and practice proper risk management before considering making an investment.
Basic Attention Token (BAT)
Basic Attention Token (BAT) is the cryptocurrency associated with the Brave browser. The project aims to let people earn money for their own online data and for watching and interacting with ads online. Users can alternatively opt to simply block those ads. Brave is one of a number of projects helping to change the way we view our online data as an asset, and shifts ownership of that data to the user rather than the ad companies.
BAT is the token that Brave uses to pay off its rewards. BAT is now trading at $0.23 with a market cap of around $368 million.
Harmony (ONE)
Harmony (ONE) is a project trying to make blockchain transactions fast and secure, an effort that would help apps on Web3 protocols run smoothly. Harmony finds consensus through Effective Proof-of-Stake (EPoS), its own answer to the PoS staking employed by other major protocols.
The project also focuses on interoperability, meaning it can be connected with other blockchain networks. This compatibility with other projects is a major plus for investors, as it speaks to the potential longevity and forward planning of the project.
ONE tokens are used to fuel the network. ONE is now trading at just $0.02 per token with a total market cap of $271 million, making it the lowest price cryptocurrency in this article. Price has increased 43% in the last year.
Next crypto to hit 1$ – Flux (FLUX)
Flux (FLUX) provides people with decentralized cloud infrastructure. This is particularly useful for anyone working on creating Web3 programs.
Web3 developers can use the computing power of a large network of computers in order to test and run their programs without the very high cost of acquiring those computers personally. Flux is not the only project working on this kind of technology, and in fact, their service is similar in concept to the Amazon Web Services (AWS) solution for Web2. FLUX tokens offer discounted services for people using the platform.
FLUX is now trading at $0.94, making it a strong candidate for the next crypto to hit $1 in 2024. The market cap is $329 million at the time of writing, and FLUX has increased in price by 96% in the last 12 months. In our view, this is a very cheap crypto with high potential, putting it at the top spot for our piece on
Choosing the Best Low Priced Cryptocurrencies to Invest in
It’s always tempting to jump in on a low-priced cryptocurrency that is trending upwards. As always, it’s important to exercise caution in the crypto space. If you want the cheapest crypto with the biggest potential, you can quickly check indicators like the RSI and MACD for more insights into your chosen coin’s performance. You can also look at relevant news like partnerships and project updates.
The old mantra saying “never invest more than you can afford to lose” is often repeated in crypto circles for a reason. Having said that, we hope that this list of cheap and potentially promising cryptocurrencies was helpful in your search for the next crypto to explode in 2024!
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