The cryptocurrency market saw a considerable chunk of its value wiped out yesterday. This unexplained bearish sentiment prompted several investors to invest in the best cheap cryptocurrency under $1 to recoup losses. This reaction caused several altcoins, including BTC, to exhibit price instability as they briefly dipped below the $60,000 mark.
However, despite the drop resulting in sideways trends in the overall market, savvy investors are taking advantage of the low token prices. Analysts have confirmed that the corrective rally will start with cheap crypto to buy below $1.
Todayâs analysis examines the profit potential of Beam, VeChain, BitTorrent, Gala, and Bonk. Currently trading below one dollar, these tokens have surged between 7% and 15% in the past 24 hours. This performance is notable in the context of the current bearish market sentiment, suggesting promising investment opportunities.
1. VeChain (VET)
VeChain (VET) has partnered with Concordium to increase transparency in the global food supply chain. This collaboration improves consumer confidence by simplifying the tracking of food items. It also helps confirm the source of these food items and their authenticity, and ensure ethical sourcing. The integration of Concordiumâs Proof-of-Stake mechanism strengthens VeChainâs position among supply chain solution providers.
Additionally, the VeChain team has completed the final testnet voting phase and manually distributed the pending rewards. A thorough testnet review has confirmed the successful deployment of the VeChainThor (VTHO) mainnet. This upgrade ensures a seamless transition to the new system, enhancing the operational capabilities of the platform.
The ongoing partnership with Concordium and recent market trends indicate a potential price increase to $0.09. Important milestones including the launch of VeChainThor and progress with VeBetterDAO are likely to contribute to further adoption and growth in the coming months.
VET is currently trading at $0.02215, marking a 27% increase in the last 24 hours. Investor sentiment remains high, with the Fear and Greed Index at 80, showing extreme greed. Additionally, the tokenâs Relative Strength Index (RSI) is above the midpoint, suggesting further upward momentum soon.
2. Beam (BEAM)
Beam is committed to eliminating user data mismanagement by providing a platform that ensures secure and trustless transactions. It offers several features, including private stablecoins, NFTs, and automated market makers (AMMs). Beam also plans to introduce new features such as lending, oracles, sidechains, and wrapped assets.
Furthermore, Beam is a gaming network backed by the Merit Circle DAO. The BEAM network is focused on building a collaborative ecosystem to advance the gaming industry. By connecting developers and players, it fosters partnerships that will help shape the future of gaming.
Additionally, Beam also secures usersâ addresses and gives them full control over their privacy through blockchain technology. The token saw a slight decline of over 2% last week. However, recent trends indicate a notable recovery, with the token seeing significant gains in the last 24 hours.
The token is currently trading at $0.01282, representing a 3% increase in the last 24 hours. Year-to-date, Beam has increased by over 208% in value. Additionally, the tokenâs Relative Strength Index (RSI) is trading above the 50 trendline, signaling bullish momentum and potential for further growth ahead of the weekend.
3. BitTorrent (Novo) (BTT)
BitTorrent is recognized as the âlargest decentralized P2P communications protocolâ globally. The platform recently announced a major upgrade, with plans to halve the rewards for storage miners from 15 billion BTT to 7.5 billion BTT. This change, which began in June, has increased network efficiency and boosted node performance.
As a decentralized P2P sharing and torrenting platform, BitTorrent has established itself as a key player in the cryptocurrency market. Its popularity continues to grow, with the project seeing a 40% increase in trading volume in the past 24 hours despite a broader market decline.
The native token, BTT, operates on the TRON blockchain under the TRC-10 standard. Since TRON acquired BitTorrent, the platform has seen wider adoption and expanded its use cases by launching several new tools. The $BTT token continues to gain significant traction in the market following its launch
BitTorrent maintained a bullish outlook last week, driven by strong buying pressure at $0.0000009044. This momentum favors the bulls and could continue in the coming days. However, bearish activity could emerge if the recent spot approval of the Ether ETF fails to generate enough enthusiasm in the market.
4. Baby Free (PEPU)
Pepe Unchainedâs flexible Layer 2 blockchain technology makes it a standout project in the crypto market. This feature allows the platform to provide users with a smooth trading experience. It also helps investors trade digital assets without worrying about high costs and network delays. This focus on efficiency has received positive feedback from crypto enthusiasts.
Furthermore, PEPU was strategically built on the Ethereum blockchain to utilize Layer 2 technology. It enables faster and more cost-effective transactions, in addition to the efficiency of Ethereum. This makes it the first Pepe-themed token to operate on this layer of the blockchain. Furthermore, the project offers a staking feature, allowing early investors to earn a significant APY of well over 117%.
And with that, Pepe Unchained reaches US$ 18.5 million raised.
The community is STRONG. The technology is STRONG. And we are gaining new ground every day. đȘ
Meanwhile, Pepe Unchained has successfully raised over $18.7 million, highlighting significant interest in the project. This early success underscores strong investor confidence and suggests the potential for substantial returns. Potential investors are encouraged to participate in the project now at a modest price of $0.00996 before it goes up tomorrow.
Pepe Unchained pre-sale visit
5. Gala (GALA)
Gala allows developers to create custom tokens, smart contracts, and node networks. It also allows them to seamlessly bridge their tokens between blockchains like Ethereum and Binance Smart Chain. Its ecosystem thrives on independent node networks, encouraging active community participation.
GalaChain, a layer-1 blockchain, is the foundation of its Web3 ecosystem. Initially focused on Galaâs entertainment sectors â Gala Games, Gala Music, and Gala Film â it aims to empower users worldwide. GalaChain aspires to become the first blockchain to reach one billion users. It also provides developers with tools like its SDK and Creator Portal to integrate Web3 into their communities.
CertiK has recognized Gala as one of the most secure altcoins globally. Using a Gnosis multisig vault ensures operational security with collective oversight. Gala also collaborates with leading agencies to maintain governance and compliance.
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â Gala Games (@GoGalaGames) October 9, 2024
Gala is currently trading at $0.021, with its value increasing by over 1000% since its inception. Trading activity has increased by 2.3% in the last 24 hours, with the token trading well above its 200-day SMA.
With a 14-day RSI of 44.39, Gala remains in a neutral zone. Its bullish momentum is evident, with 15 green days in the last 30, reflecting a 50% positivity rate. With a 30-day volatility rate of 8% and strong liquidity, Gala shows signs of stability and continued growth.
6. Bonk (BONK)
Bonk made a name for itself as the first dog-themed cryptocurrency on the Solana blockchain. Since its launch, the token has experienced a strong rally, posting significant gains in its first quarter. Currently, Bonk is trading at approximately $0.00002078. Analysts believe that its unique concept could push it to the $0.001 mark by the end of 2024.
Analysts also remain optimistic about Bonkâs ability to maintain its strong launch momentum. The tokenâs price trend reflects its resilience, with steady growth fueling investor speculation about its potential to hit $0.01 in the near future. It is trading at 3.7% higher than its value yesterday.
The growing popularity of meme tokens continues to drive the value of Bonk. Built on the Solana blockchain, which is known for its scalability and speed, Bonk attracts investors looking for faster and more cost-effective alternatives to Ethereum-based meme tokens.
Bonk is currently trading 10,825% higher than it was a year ago. The token is capitalizing on bullish sentiment, with a Fear & Greed Index of 70, indicating greed. Bonk has maintained a positive trend, with 26 green days in the past 30. The token is trading above its 200-day SMA, with a Relative Strength Index (RSI) of 60, signaling bullish momentum.
