Institutional interest in digital assets has been increasing lately. In this environment, some cryptocurrencies are showing promising trends. Thus, it attracts the attention of investors. Crypto analyst Vahid Karaahmetovic has selected 5 altcoin projects under $0.10 that could benefit from positive investor sentiment.
The top altcoin project: Stellar (XLM)
XLM has had an impressive performance this year. In fact, it is one of the top 10 cryptocurrencies based on monthly returns in 2022. It also showed an increase of about 35% year-to-date. At press time, Stellar was trading at $0.095, down 5.36% in the last 24 hours. The altcoin is down about 11% on the weekly chart, while it is up 7% on a monthly basis.
One of the factors contributing to XLM’s price increase this year is Stellar’s collaboration with Coinbase. Specifically, since June, the crypto exchange has been fully supporting deposits and withdrawals of USDC stablecoin via Stellar Blockchain. In addition to this, Stellar recently announced its integration with MoneyGram. Thus, it allowed users to deposit or withdraw funds directly from their digital wallets via USDC on the Stellar network.
The next project is VeChain (VET)
VeChain (VET) is a blockchain-powered platform that offers a set of features, including a strong governance structure, a sustainable economic model, and integration with the Internet of Things (IoT). At the time of writing, VET was trading at $0.02, down more than 5% on the day. On the monthly chart, the altcoin is down slightly by 0.8%. However, it has gained about 20% since the beginning of the year.
Despite its sluggish performance lately, VET is among the cryptocurrencies that investors should consider. The crypto asset has witnessed a surge in social activity in recent weeks. It is also possible that it will see a strong move if it manages to break out of the current trading range. cryptocoin.comIn late May, VeChain launched a Web3 workshop with a grant program to “educate developers about Vechain’s advanced technical capabilities and extensive network of respected corporate partners.”
We continue with Terra Classic (LUNC)
Late last month, an anonymous group of crypto developers known as the “Six Samurai” published a proposal aimed at rejuvenating the embattled Terra Classic (LUNC) and breathing new life into the crypto token. This week, some members of the LUNC community proposed making Binance CEO Changpeng Zhao the leader of Terra Blockchain to “accelerate development activities” and “make Luna Classic rise again.”
Meanwhile, Terraform Labs has also confirmed that the previously submitted Pull Request (PR) has been merged to integrate LUNC/USTC swaps into TerraSwap. The group, which requested a budget of $116,000 in the third quarter to bring their plan to life, has pledged to honor its responsibilities if the proposal gets the green light. At the time of writing, LUNC was trading at $0.00008063, down 4% on the day. The altcoin has lost nearly 9% on the weekly chart and more than 21% in the last 30 days.
Terra Classic has shown an unimpressive price performance lately. However, it remains an asset to watch, especially after the aforementioned proposal came to light.
The fourth altcoin project Kaspa (KAS)
Kaspa (KAS) Blockchain is a decentralized and scalable protocol designed to address the limitations of existing Blockchain networks by offering high throughput, low fees and increased scalability, providing efficient and secure transactions and smart contracts. Recently, KAS was listed on the KuCoin crypto exchange. Also, the altcoin project has announced a few new developments.
The cryptocurrency has dropped 0.5% in the last 24 hours to $0.02. It also lost more than 17% on the weekly chart. However, KAS has gained more than 40% in the past month. It added approximately $130 million to its market capitalization during this period.
Last ranked altcoin: XDC Network (XDC)
XDC Network (XDC) is a Blockchain platform that combines public and private Blockchain features. It has recently witnessed significant growth in development activities and partnerships. This points to a potential price increase in the future. The network’s latest update has simplified the deployment of smart contracts, enabling the creation of decentralized applications (DApps).
XDC Network has partnered with Fathom to offer a new way for users to earn XDC. The project aims to bridge the gap between traditional finance and the Blockchain industry. More recently, XDC Network has also teamed up with SBI’s group subsidiary in Japan to serve the banking giant’s customers. At press time, XDC was trading at $0.03, down 1.4% on the day. Meanwhile, the altcoin has lost 5.8% in the past month. However, it has increased by more than 27% year-to-date.
The opinions and estimates in the article belong to the analyst and are not investment advice.
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