The cryptocurrency market is showing renewed strength, leading to a significant improvement in the performance of various altcoins. Several altcoins have seen significant gains over the past 24 hours. Aptos (APT) has gained 17.2%, while Sui (SUI) has gained 8.6%, indicating a shift in sentiment towards the altcoin market.

The Altcoin Seasonal Index also showed an inverted head and shoulders pattern, which indicates the presence of an underlying bullish trend that has not been seen in more than three years.

4 Best Cheap Cryptocurrencies to Invest in

1. THIS

Ethereum-based decentralized finance (DeFi) project Ethena has seen significant growth in both its native cryptocurrency ENA and its stablecoin USDe. Recently, ENA’s price increased by 25% to $0.35, giving it a market capitalization of over $920 million. ENA’s daily trading volume surged 180% to $233 million.

One of Ethena’s key developments is its stablecoin USDe, which has quickly gained popularity and reached a market cap of $3 billion. This growth has made USDe a competitor to Tether’s widely used stablecoin.

USDe also benefits from its yield premium, with its yield being 5-8% above the Fed’s funding rate, making it attractive to those seeking higher returns. With the recent rate cuts, this gap is likely to widen, further enhancing USDe’s appeal.

The potential launch of another stablecoin, UStb, could further support USDe's growth. ENA's value has surged, up 60% in the past month, suggesting a recovery in the market and growing interest in the project. All in all, Ethena's USDe stablecoin stands out for its secure structure and competitive yields, allowing it to challenge established players such as Tether. Its rapid expansion suggests it could become a significant force in the stablecoin market.

2. MINE

Mina Protocol’s current price is $0.558, up 5.05% in the past 24 hours. Over the past year, its value has increased by 55%, showing significant growth. Additionally, over the past 30 days, Mina has experienced 18 "green days," meaning that 60% of the days, the daily close was higher than the daily open. This suggests continued upward momentum, which may appeal to investors looking for short-term trends.

Additionally, the Mina Protocol benefits from high liquidity in its market cap. This aspect generally makes it easier to buy and sell assets without causing large price swings, thus enhancing its appeal to traders. As of October 13, 2024, the overall market sentiment remains bullish, with 23 technical indicators supporting it, indicating a possible positive move in the near term.

For the coming week, the forecast suggests that the price of Mina could fluctuate between $0.561 (minimum) and $0.770 (maximum). If the asset reaches the upper target, it would represent a 37.39% gain by October 21, 2024. While this forecast seems overly optimistic, it is worth considering the lower and upper limits of this range to account for possible market volatility.

In the longer term, especially the remainder of 2024, forecasts suggest that the Mina protocol could trade in a wider range, from $0.561 to $2.67. If the asset reaches this cap price target, it could rise by 378.64%. While this forecast indicates significant growth, it's important to note that market conditions may change and investors should take this into account in their decision-making process.

3. CHZ

Chiliz (CHZ) is trading at 0.074763, reflecting a 5.14% gain over the past 24 hours. Over the past year, the price has risen by 35%. Notably, the stock has been up 19 of the past 30 trading days, meaning that 63% of the time, the daily close was higher than the daily open.

As of October 13, 2024, the market sentiment around Chiliz appears neutral, despite 22 technical indicators signaling a bullish trend. For the coming week, CHZ is forecasted to be between 0.074377 and 0.116896. If the high end of the range is reached, the price could rise by 57.17%, reaching 0.116896 by October 21, 2024.

Looking ahead to 2024, Chiliz is expected to trade between 0.073763 and 0.245794. If the price reaches the upper target, it would represent a gain of 228.94%, pushing the value to 0.245794.

4. FTM

Fantom (FTM) is priced at 0.662887, down 4.61% in the past 24 hours as of October 13, 2024. Despite the short-term decline, the overall market sentiment for Fantom remains bullish. Most of the 28 technical indicators point to positive growth potential. Over the past year, the token is up 258%, outperforming 78% of the top 100 crypto assets including Bitcoin and Ethereum.

​Fantom’s price is currently 57.75% above its 200-day simple moving average (SMA), which is 0.42001. This indicates strong momentum as it is performing well compared to the initial token sale price. Fantom has had 18 positive price changes (60%) in the past 30 days, showing good liquidity relative to its market cap.

Looking ahead, the price prediction for next week shows a possible upside. The expected range is between 0.682734 and 0.730862, which could represent a 7.05% upside if the upper target is reached before October 21, 2024.