5 cheap cryptocurrencies to invest in June 2023
As the sixth month of 2023 approaches, and the majority of the cryptocurrency market is either swimming in the sea of red or recording modest gains at best, some digital assets may have failed to grab the...
As the sixth month of 2023 approaches, and the majority of the cryptocurrency market is either swimming in the sea of red or recording modest gains at best, some digital assets may have failed to grab the attention of crypto traders and investors over their low cost per unit.
With this in mind, Finbold has analyzed the market to arrive at the list of the most promising cryptocurrencies that (still) have a significantly low price threshold per wholecoin but should nonetheless find their way into everyone’s shopping list in June 2023.
With the widely publicized lawsuit between the United States Securities and Exchange Commission (SEC) and Ripple looking to conclude in the blockchain company’s favor, the token at its center, XRP, could be in for a significant rally if this happens so this could be a good time to purchase it at a low price.
At press time, the XRP token was changing hands at $0.46, down 1.47% in the past 24 hours but recording an increase of 1.29% across the previous seven days, as opposed to losing 1.33% on its monthly chart, as per data retrieved by Finbold on May 24.
Meanwhile, the team behind Cardano (ADA) has been hard at work developing the underlying proof-of-stake (PoS) blockchain that powers peer-to-peer transactions and decentralized applications (dApps), also recording superb results in terms of transaction volume and count, active crypto wallets, whale accumulation, staking value, and smart contracts.
With a price of $0.37 apiece, recording a decline of 0.98% on the day and 0.05% across the week, as it fights to reverse the losses of 4.85% accumulated over the previous month, Cardano remains a good bargain at this time, with a potential for the price to increase.
At the same time, TRON (TRX) has recently managed to (briefly) overshadow all other crypto assets in terms of social, market, and price activity as it reached the leading position on AltRank, the list of top 5,242 cryptocurrencies that combines an asset’s social and market activity versus the rest of the crypto market.
Also being featured in Finbold’s list of top cryptos under $0.10 to buy in May, TRON is currently trading at the price of $0.08, down 1% over the past day but writing down more notable gains of 9.88% in the last week and as much as 17.43% over the previous month.
After announcing a massive new upgrade of its network fee structure, zkEVM optimizations, and a 20% reduction in its transaction fees in the next few weeks, Polygon (MATIC) might be looking at bullish price action as the company’s team rolls out the developments.
Until these updates manage to trigger a more significant rally, Polygon is changing hands at the price of $0.87, which represents a decline of 1.23% over the last day but a 2.42% increase across the week, as the asset is trying to reverse the 11.89% drop from its monthly chart.
Following the revelation of a major security gap in the Ledger cold storage, its former users seem to be moving away from it, and many might be choosing Polkadot (DOT) and its Vault app – a cold storage solution that allows users to transform their phones into an air-gapped wallet in airplane mode, potentially giving the blockchain’s token a push in the near future.
For now, Polkadot is trading at the price of $5.30, demonstrating a loss of 1.43% in the last 24 hours but a gain of 0.07% across the past seven days as it attempts to reverse the 10.51% decline it has accumulated during the previous month.
All things considered, the low price of a digital asset should never discourage a smart investor from at least giving it a second look (and doing their own due diligence in terms of researching it before investing). As some of the recent (also very cheap) cryptos have demonstrated, a well-timed investment of a few hundred dollars might even turn one into a multi-millionaire.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
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