Altcoins
Top 5 Digital Currencies With A Market Cap Under $100M
While investing in the largest cryptocurrencies is usually the safest method, it is understandable that sometimes, investors simply wish to take a risk. Those who feel such an urge usually go for an underdog, a coin that is not yet well-known. Of course, even these investors wish to invest in a coin that is worthy of it.
Because of that, we have prepared a list of 5 digital currencies that have a somewhat lower market cap. The criteria include a market cap lower than $100 million, as well as belief that these specific projects have a future bright future. With that being said, let’s see which coins to invest in.
1) Ravencoin (RVN)
Ravencoin is a crypto that holds the rank of 69 as per CoinMarketCap, with its current market cap being at $91.8 million. This is a young coin, but it already started attracting attention. In fact, a lot of investors and analysts believe that this is a sleeping giant. As such, it would be smart to invest in it while it is still low-priced.
Its code base is similar to Bitcoin’s, with some even claiming that it is Bitcoin’s. The project focuses on providing a stable and secure blockchain. Of course, it is still under development, and it has yet to show its true potential.
2) Nexo (NEXO)
Nexo is a coin that has a market cap of $90.03 million at the time of writing, and as such, it holds the rank of 71. The coin is relatively basic in concept, but it has a huge potential. It revolves around being cost-effective and user-friendly while it aims to revolutionize the lending process.
It plans to become a go-to coin for anyone looking to access funds urgently, as the process will be quick and simple. They had an interesting and unique ICO, and have kept their funding goals realistic and attractive to large and small investors alike.
3) Decentraland (MANA)
Next, we have Decentraland, which is quite an ambitious project that holds the rank of 73 as per CoinMarketCap. This project has a market cap of $86.87 million, and it aims to bring blockchain technology and virtual reality closer together. It will do this by creating a Metaverse which will serve as a base for an entirely new world of gaming and trading.
Its VR platform runs on Ethereum blockchain, and it offers users and developers to buy and sell plots of land, create new places and businesses, and conduct trades. All ownership of this land will be recorded on the blockchain, which is, as we know, completely resilient to all forms of data manipulation.
4) GoChain (GO)
GoChain is a coin that currently holds the position of 130th largest coin by market cap. It has a market cap of $40.67 million at the time of writing, but it is also a coin that many believe has a lot of potential for the future. This coin and its platform revolve around speed and cost-effectiveness. It is compatible with Ethereum, and its mainnet is said to be 100 times faster and requires less than 1% of the energy that is needed to actually mine ETH.
The project also aims to solve scalability issues without having to compromise things like privacy or security. It also introduces a new type of smart contracts that have resolved the flaws of regular smart contracts.
5) Mithril (MITH)
Mithril is a coin that has been interesting to investors for a while now. It holds the 65th place with a market cap of $99.88 million. It was developed on Ethereum’s ecosystem and its goal is to revolutionize the way social media impacts our everyday social lifestyle.
While it works with other social media platforms, it does come with a twist — it rewards its users for their contribution to the ecosystem. This means that content developers actually get paid for what they do via social mining. It is a fun way to earn coins, and it rewards effort, which is why Mithril attracted a lot of attention in 2018.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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