The cryptocurrency market took a hit today. After the entry of Russian ‘peacekeeping’ forces into Ukraine, their total value decreased by 6%. Major currencies such as bitcoin (BTC) and ethereum (ETH) have fallen by similar percentages. Meanwhile, no coins – except a few stablecoins – have gone up in the last 24 hours. However, dips often set the stage for rebounds. As such, we have put together a list of the 5 best cryptocurrencies to buy at low prices right now.
5 best cryptocurrency to buy at low prices
1. Lucky Block (LBLOCK)
At $0.00593336, LBLOCK is down 16% in the last 24 hours. It also dropped 5% last week. On the other hand, it remains just over 160% over the last 14 days, as well as over 1,000% since it became tradable on Jan.
Despite the correction, LBLOCK remains one of the most promising new altcoins on the market. It is the native token of the Lucky Block lottery platform, which is based on Binance Smart Chain. It has already amassed 38,000 holders, with this growth driven largely by the upcoming beta release of its app.
Starting March 25th, Lucky Block will hold regular lottery draws. Interested parties can participate by purchasing tickets using LBLOCK, with participants having a chance to win 70% of the jackpot fund for each lottery. Meanwhile, 10% of each fund will be split evenly among all LBLOCK holders, regardless of whether they enter or not. It is this system that has generated buzz around the coin, with Lucky Block itself recently boasting that it is the “fastest-growing cryptocurrency in history”.
Currently, investors can trade LBLOCK on PancakeSwap and LBANK Exchange. More listings will likely follow, which means we can expect more price increases once the market stabilizes again.
2. Ripple (XRP)
Currently, XRP is priced at $0.693879, representing an 11% drop in the last 24 hours. It also represents a 13% drop over the past week, although the altcoin has surged 15% over the past 30 days.
The XRP chart shows that now is indeed a good time to buy. Its relative strength index (in purple above) is below 30, signaling that it is undersold. At the same time, its 30-day moving average (in red) has dropped below its 200-day moving average (in blue). When this dip bottoms out, we can expect a strong recovery.
You may like to know: How and Where to buy Ripply XRP
More broadly, XRP could benefit from a big leap in the not-too-distant future. This obviously depends on the outcome of Ripple’s legal battle with the SEC, which Ripple remains confident it will come out of favourably. In fact, it recently signaled its confidence by repurchasing its own shares at a valuation of $15 billion. This buyback indicates that it is planning to hold an initial public offering once the case is over, something CEO Brad Garlinghouse has previously discussed.
Newly unsealed documents also reveal that in 2012, Ripple received legal advice from the same company that helped draft the SEC’s speeches on cryptocurrency and securities law. In other words, Ripple believed it was acting on SEC guidance, meaning it didn’t have fair warning that it was violating securities law.
However, as the case discovery period is not likely to end until March, investors will have to wait a little longer for any payouts. But when it comes down to it, XRP is likely to bounce massively. That’s why it’s one of our top 5 cryptocurrencies to buy at low prices.
There is no silver lining to this decision granting time extensions to the SEC – even if the Motion to Reconsider order is eventually upheld.
3. Polkadot (DOT)
DOT is a seriously undervalued currency. At $16.33, it is down 5% in the last 24 hours. It has also dropped 27% in the last fortnight and 10% in the last month.
The DOT indicators are similar to those of XRP, which is not surprising given the market slump today. Still, they reveal that now is a good time to buy if you want to get cheap altcoins.
As for fundamentals, the DOTs have long hinted at a major long-term rally. Its native platform, Polkadot, is one of the few very promising layer-one blockchains. It has held parachain slot auctions on its main chain since late 2021. They will decide which projects will join Polkadot’s overall network, with the implication that this network will have a thriving ecosystem when all are completed.
Increased use of Polkadot means more DeFi activity and, more importantly, more demand for DOT. In fact, some analysts believe the DOT could be one of the biggest coins of 2022.
4. Dogecoin (DOGE)
The DOGE is down 6% in the last 24 hours, falling to $0.129391. This represents an 11% drop in the last week and a 22% drop in the last 14 days.
The DOGE continues to decline for several months, leaving it 82% below its all-time high of $0.731578 set in May. Still, it remains the biggest meme coin on the market, with a huge crowd of die-hard supporters. In fact, his Reddit page now has around 2.3 million subscribers.
Then there’s the fact that DOGE continues to receive support from Tesla and Elon Musk. Last month, for example, Tesla began accepting DOGE payments for some of its merchandise.
5. Polygon (MATIC)
At $1.43, MATIC is down 8% over the last 24 hours and 14% over the past week. It also dropped 30% in the last fortnight.
MATIC’s 30-day average looks like it is about to bottom out relative to its 200-day average. Put another way, it could be on the verge of a rebound, seeing as it might have dropped far enough.
MATIC is the native token of Polygon, the largest layer two scaling solution for Ethereum in terms of total locked value. In fact, at $4 billion, it’s bigger than many tier one blockchains. Its overall growth is also very impressive, with the protocol now counting nearly 350,000 daily active users as well as 3.5 million transactions per day.
And since Ethereum will likely not switch to proof-of-stake for a while, Polygon will likely continue to grow for the foreseeable future.