The first week of March showed that cryptocurrencies can exceed expectations even during a period of active market growth. The most capitalized coin, Bitcoin (BTC-USD), has exceeded its all-time-high high of 2021.
Therefore, investors can view this as a signal of the altcoin bubble. A large mass of funds are likely to flow into lower-priced tokens in the coming days. For this reason, these best cryptos under $1 to buy attract the eyes of hundreds of thousands of crypto enthusiasts.
Ripple (XRP-USD)
Ripple (XRP-USD) has not risen above $1 since 2021. Yet, right now, the attractiveness of its low price makes it a candidate for an early purchase.
Recently on social media, former Ripple CEO Sean McBride spoke of the company’s efforts to make the Ripple coin a reliable cross-border currency. The results of this work are evident in the improved attitude of the World Bank, its recognition and attention to XRP. Such a position can change the views of users and erase concerns about the token’s performance.
This year, there have been shifts in terms of exceeding key moving averages. However, even amidst the surrounding bullish sentiment, XRP still hasn’t exceeded its annual high of more than $0.8. This indicates the coin’s untapped potential. As the alt-season heats up, the price record may be broken.
In February, Ripple acquired Standard Custody & Trust Co. By doing so, the company has expanded its licensing and achieved trust status in New York. Its list of services has grown to include asset tokenization. This move is in line with the company’s overall strategy. According to Ripple President Monica Long, the crypto company is looking to expand its infrastructure offerings for financial institutions.
Also, RippleNet is pleasing the platform’s supporters. At the beginning of the year, the number of payments per day exceeded the expectations of even ardent XRP supporters. The figure of 5 million was 25 times higher than the standard values and demonstrated a high interest in this cryptocurrency.
Algorand (ALGO-USD)
Algorand (ALGO-USD) prioritizes decentralization and security when building its blockchain platform. The project ensures that no entity has full control over the network. Recent improvements have led to the introduction of dynamic round time.
In this way, Algorand increased network throughput and reduced blocking time. This led to the overall strengthening of the blockchain as an effective tool for developers. Also, they were excited to learn that the platform supports Python, which makes building and deploying applications even easier.
The middle of 2023 was not easy for ALGO. The token dropped below $0.09 and fell out of favor with many investors. However, in the last 3 months of the year, it managed to gain $0.15. Now, the March figures raised the bar, with ALGO approaching $0.3.
Algorand plans to block 2.5 billion tokens to be distributed as participation rewards. A 2x smaller amount will be used to support the ecosystem. With this resource, the project will control inflation and increase the deficit. As an additional factor, there is a grant from the Algorand Foundation to improve compatibility with Ethereum (ETH-USD). A cool $10 million will be used to strengthen the connection between these networks. ETH has crossed the $3800 mark. ALGO’s price will react with a delay, but the rise promises to be no less exciting.
Shiba Inu (SHIB)
The last 7 days have brought the Shiba Inu (SHIB-USD) token an increase of more than 200%. Also, the main meme coins experienced an upswing, but SHIB outperformed its competitors.
The coin’s tripling in value can be explained by its reputation as a highly volatile tool for rapid growth in a bull market. So, the project’s market capitalization crossed the $26 billion mark on March 5. At the same time, the daily trading volume reached $12.3 billion. That surpasses the indicators of Solana (SOL-USD), Cardano (ADA-USD), and Polygon (MATIC-USD).
The Relative Strength Index (RSI) is stable, the token is trading above its 30-day moving average, and it meets the criteria for the best cryptos under $1 to buy. Experts note that $0.00004729 is a resistance level. If it is overcome, SHIB will go to $0.00005939 and $0.00008514.
Despite significant achievements in market performance, the platform continues to develop. The Shib Name Service is one of the latest developments. Like the Ethereum Name Service, it helps to simplify adaptation and improves user experience. Participants use words instead of sets of numbers and letters (wallet addresses).
On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
