Indeed, no intelligent investor would limit themselves to purchasing any stock that is less than $1. This article looks at 5 cryptocurrencies set to hit the $1 mark in no distant time.
As we go gradually closer to the end of the second month of 2023, the vast majority of discussion in the cryptocurrency sector is centered on the two cryptocurrencies that have garnered the most attention: Bitcoin (BTC) and Ethereum (ETH). However, a lot of other assets may be purchased for close to a dollar that is just as worthy of the attention that investors give them and that is available to them.
Top 5 cryptocurrencies that will reach $1 in 2023
We were able to successfully arrive at a list of the top five cryptocurrencies that have the best traits and ability to flourish and increase in value. This makes it worthwhile to keep a lookout for these cryptocurrencies throughout the remainder of the year 2023.
The top 5 cryptocurrencies that will reach $1 in 2023 are;
- Cardano (ADA)
- Shiba Inu (SHIB)
- Dogecoin (DOGE)
- XRP (XRP)
- Cronos (CRO)
Cardano (ADA)
The team behind Cardano (ADA), which boasts the title of having the cryptocurrency protocol with the most active development in 2022, has many more updates up its sleeve, including its Djed stablecoin, which is scheduled to launch in the final week of January, as well as the new functions for its Plutus smart contracts, which are scheduled to launch in February.
Cardano was trading at $0.36 at the time of this writing, a decrease of 4.21% on the day but still registering gains of 3.88% over the course of the week and 38.64% over the course of the preceding 30 days.
On top of that, Cardano has just recently launched the first-ever smart contract written in a Pythonic programming language, and it was chosen as the platform to feature eTukTuk, the world’s first electric vehicle (EV) project built on a blockchain; all of these things make it an attractive investment option.
Shiba Inu (SHIB)
Shiba Inu (SHIB), a crypto token based on the dog meme, has had a good start to 2023. Based on short-term and long-term returns, it is still one of the most undervalued assets on the crypto market, making it a lower-risk investment, according to data from January 20.
Also, in the week leading up to January 22, Shiba Inu was the most popular non-stable coin digital asset for first-time crypto investors. Meanwhile, the SHIB team has been hard at work on the ecosystem, revealing the ideas for its long-awaited layer 2 blockchain Shibarium.
At the time of writing, the price of SHIB was $0.00001126, down 5.53% from the day before. However, it had gone up 6.98% over the past seven days and 36% over the past month.
Dogecoin (DOGE)
IntoTheBlock data reveals that 60% of Dogecoin holders are making money at the coin’s current price, compared to 37% of Dogecoin holders who are losing money and 3% of Dogecoin holders who are breaking even. Meanwhile, Shiba Inu’s primary competitor, Dogecoin (DOGE), has also been on a roll recently.
DOGE is also one of the most undervalued assets on the cryptocurrency market, and it has been the second-best performer out of the top ten cryptocurrencies by market cap in 2022. It has fallen ‘only’ 54% over the course of the year, which makes it one of the tokens to keep an eye on in February.
The price of this meme token at press time amounted to $0.08416, reflecting a loss of 4.71% on the day and 3.22% over the week, as opposed to being up 11.34% compared to 30 days prior.
XRP (XRP)
Ripple and the US Securities and Exchange Commission (SEC) have been in a long-running legal battle for a while. Since XRP (XRP) is so closely tied to Ripple, it is inevitable that the cryptocurrency will change a lot when the case is over. At this time, the odds are stacked in Ripple’s favor.
Finbold released a report on January 23 saying that XRP has the sixth-largest market capitalization of all digital assets. This is because it recently got more than a billion dollars in just twenty-four hours, making it the sixth-largest digital asset.
At the moment, the price of XRP is $0.41, which is a decrease of 3.42% over the course of the previous 24 hours. In comparison, the price of XRP has increased by 4.76% over the past week and 17.24% over the past month.
Cronos (CRO)
Cronos (CRO), the native coin of Crypto.com’s Ethereum Virtual Machine (EVM)-compatible Cronos Chain, which was built on Cosmos (ATOM), is another worthwhile digital asset for the month of February. This is due to the massive impact that Cronos Chain’s blockchain has had on the cryptocurrency world, as well as Crypto.com’s focus on sustainability. Cronos Chain was created using Cosmos (ATOM).
In addition to this, the Cronos Chain was recently updated to version 1.0 under the update codenamed ‘Galileo,’ which brought it out of the beta version and promised multiple technical advancements. As part of these improvements, the storage and startup times of nodes have been sped up and there are new features that make it easier for Cosmos to work with. Moreover, the Cronos Chain recently came out of beta version.
As with the rest of the cryptocurrency market, the price of Cronos has followed the general sentiment, falling by 1.84% over the course of the day but rising by 1.45% over the course of the week and 33.64% over the course of the preceding month, reaching a price of $0.07971 at its most recent trade.
Summary
Looking for projects that give genuine competitive advantages and distinction is the key to finding deals in an asset class where tangible data can be scarce. CoinMarketCap.com now lists over 21,100 different cryptocurrencies, thus setting yourself apart from the crowd and investing wisely is essential.
