Although the leading cryptocurrency Bitcoin (BTC) often dominates the headlines, there are several other promising crypto assets worth considering. Particularly, the overall cryptocurrency market continues to remain in a consolidation phase led by Bitcoin, which has been unable to break the $30,000 resistance level. It is worth noting that the market has seen short-term gains following positive news about the Spot Bitcoin Exchange Traded Fund (ETF).
However, despite the market stagnation, the general consensus is that the industry is likely to see an uptrend in the coming months. Keeping this in mind, a few affordable cryptocurrencies offer a buying opportunity as they have relatively low prices and potential for gains when the market rises. Therefore, here are five cryptocurrencies valued below $0.10 that you may consider buying next week.
Tron (TRX)
TRON (TRX) market has witnessed significant growth attributed to the success of TRON Virtual Machine (TVM) and the recent collaboration with DWF Labs. In particular, a recent report by Messari highlighted TRON’s growth in the previous quarter. The report emphasized notable increases in TRON’s daily average active accounts, new accounts, and transactions by 14%, 13.4%, and 28.9% respectively.
Despite consistently trading above $0.076, analysts remain optimistic about TRON, suggesting that it could bounce back in ongoing bearish conditions and provide significant returns for investors. As of writing, TRON was trading at $0.08, reflecting a gain of less than 1% in the past 24 hours.
Shiba Inu (SHIB)
Following the successful relaunch of Shibarium, a layer 2 scaling solution, Shiba Inu (SHIB) has regained attention in the cryptocurrency market. Although the interruptions initially affected the relaunch due to network congestion, the solution continued its operations after receiving support from other crypto assets, particularly Polygon (MATIC).
The release of Shibarium has led to significant on-chain growth for the Shiba Inu (SHIB) network. Within just one day, it resulted in the opening of 35,000 new wallets, surpassing a total user count of over 100,000. This renewed interest is expected to support the price increase of Shiba Inu. Currently, SHIB is valued at $0.0000079 and experienced a correction of over 3% in the past 24 hours.
Hedera (HBAR)
Hedera (HBAR) has gained significant attention in the cryptocurrency market over the past month and has maintained a generally positive trend. Despite a short-term correction in token value, the asset has shown notable gains in other on-chain metrics. For example, social activity around HBAR saw an increase of over 200% within a week until August 8, which can be interpreted as a historical model indicating price increases.
Additionally, Hedera’s potential is supported by strategic partnerships, such as its collaboration with platforms like Calaxy launched on the Hedera network. This partnership aligns with the role of blockchain in the Web3 era and aims to increase opportunities for content creators to monetize using advanced artificial intelligence algorithms and Hedera’s enterprise data. At the time of writing, HBAR was trading at $0.05, reflecting a 5% correction in the past 24 hours.
Vechain (VET)
Vechain’s (VET) price has been steadily declining alongside losing its previous gains. Unfortunately, due to sellers holding the upper hand and driving down the price in line with the overall cryptocurrency market, it has struggled to attract enough buyers to surpass its previous high levels. Despite the price drop, VET continues to be recognized as one of the most promising blockchain projects.
The crypto relies on various initiatives, such as strategic partnerships. For instance, VeChain recently joined forces with the artificial intelligence firm SingularityNET, becoming the latest blockchain developer to embrace this emerging technology. This strategic partnership aims to combat climate change by utilizing advanced AI algorithms and leveraging VeChain’s corporate data. At the time of writing, VET was valued at $0.02, reflecting a loss of over 4% in the past 24 hours.
Chiliz (CHZ)
Despite being affected by the prevailing bearish market sentiment, Chiliz (CHZ) experienced positive price movement for most of the week. This increase in price coincided with the project’s introduction of a mainnet upgrade earlier in 2023. The upgrade, derived from BNB Chain, introduced a new token standard called CAP20 designed to support sports and entertainment cryptocurrencies within the ecosystem.
As a significant development, Binance announced its intention to integrate Chiliz 2.0 mainnet. This integration will automatically convert all Chiliz-based tokens, including native CHZ tokens and fan tokens, from existing BEP2, BEP20, and Chiliz Legacy Chain addresses to the CAP20 token standard.
Meanwhile, CHZ is trading at $0.06 and experienced a movement representing nearly a 4% loss in the past 24 hours. While the covered cryptocurrencies show potential for growth, they continue to move in line with overall market sentiment.
