According to market analysts, some of these cryptocurrencies are extremely undervalued. The resulting projections enable these funds to generate significant profits. Crypto expert Sam Wisdom Raphael shares 5 altcoins under $1 that could perform admirably in the upcoming bull run.
First ranked altcoin: VeChain (VET)
VET is the native token of the enterprise blockchain of the same name. VeChain’s potential is huge as the team behind the protocol continues to expand its reach in the supply chain industry. VeChain showed growth potential during the previous market rally that started last September. VET reached a high value of $0.03877 in December 2023, an increase of 146% in three months. For context, BTC is only up 72% over the same time frame.
Despite its impressive performance in the fourth quarter of the previous year, VET has not been immune to continued market-wide turbulence. The altcoin is currently changing hands at $0.0289. VeChain is down 22% from its December 2023 high. However, optimism remains high, especially with Blockchain’s recent milestones. VeChain recently announced the 200 million transaction milestone with Walmart. Analysts have also identified bullish indicators for VET as the broader market prepares to enter its bull phase.
Flare (FLR) comes in second place
Flare is bucking the general trend in the market right now. One of the very few mainstream crypto assets of this nature. Notably, most altcoins are either down since the beginning of the year or have seen very slight gains. BTC is up only 1.7% year-to-date. Leading altcoin Ethereum (ETH) gained a meager 1.13%. In comparison, Flare is up a whopping 49% year-to-date. This makes Flare among the highest-earning mainstream assets this year. Interestingly, the token is currently changing hands at $0.02624. Thus, it has increased by 151% since last November.
Flare has also seen some bullish success this year, with Google officially becoming a Flare Network infrastructure provider last month. Meanwhile, the FLR token is relatively new. As a result, it has yet to record a period of meteoric earnings. Investors are confident that the upcoming bull run could set the stage for this move.
We continue the list with Algorand (ALGO)
Algorand was one of the biggest victims of the correction last month. The token rose an impressive 171% from September to December 2023. Thus, it reached a nine-month high of $0.2532. However, the correction in January 2024 triggered huge losses.
Algorand eventually ended January with a whopping 28% decline. That’s why it was one of the biggest losers of the month. However, amid the correction, ALGO retested the key $0.1486 resistance point. The altcoin used this zone as a springboard for significant gains in the next market uptrend. This base represents its lowest value since December 2022. Algorand is already trading at $0.1633, up 2.8% this month. Last November, analyst EGRAG highlighted the bullish W structure formed by ALGO and predicted an eventual rise to $7.5.
Fourth ranked altcoin: XDC Network (XDC)
The XDC Network (XDC) token seems to be charting its own unique path. This pattern means the asset is missing market-wide uptrends. However, it also enabled it to post significant gains when the market overall fell.
XDC witnessed a massive 85% increase in July 2023, when BTC fell 4% and ETH fell 4.02%. Even XRP, which gained legal clearance as a non-security asset that month, gained only 47% despite rising to $0.93. XDC was one of the best performing assets during that period. However, the token failed to benefit from the recent market-wide uptrend. XDC is also changing hands at $0.04324, down 25.85% this year. Despite this bearish trend, XDC is positioned as one of this year’s potential top gainers. The altcoin is up 3,797% in 2021 amid a market rally.
Last ranked altcoin: Stellar (XLM)
Stellar (XLM) is one of the assets that failed to fully benefit from the previous market uptrend in late 2023. However, this did not affect his potential. The token, which closely mirrors XRP’s price movements, has recorded a similarly dismal performance in the past.
Notably, during the 2017 bull market, XLM performed poorly in the pre-bull run phase. BTC rose 89% from $572 in October 2016 to $1,152 in January 2017, while Stellar fell 0.46% over the same time period, similar to the pattern that continues. However, at the peak of the 2017 bull run, XLM was up 32,943% from its October 2016 price. Thus, it reached its all-time high of $0.9381. Meanwhile, Bitcoin rose only 1,775% from its October 2016 value to its 2017 peak. XLM’s uptrend started later in the bull market. Moreover, analysts predict that this will be the trend in this cycle.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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