There are more than six thousand cryptocurrencies present in the market today. All of these currencies have emerged as an asset class that provides you with a chance to invest and earn substantial returns. Investors looking to enter the crypto-verse have several questions to address — whether to buy a lot of one currency, divide their money between two different cryptocurrencies, or participate in the movement of multiple currencies. Not all of them are equally desirable, but there are many undervalued cryptocurrencies you can buy this October for better returns.
Cardano is one of the most popular and undervalued cryptocurrencies. Its current price is US$2.26, and its market capitalization is more than US$72 billion. Cardano is a proof-of-stake blockchain platform that says its goal is to allow changemakers, innovators, and visionaries to bring about positive global change. On Sept. 12, 2021, the Cardano Alonzo hard fork officially launched, bringing smart contract functionality to the blockchain.
Tether was originally launched in July 2014 as Realcoin, a second-layer cryptocurrency token built on top of Bitcoin’s blockchain through the use of the Omni platform, it was later renamed to USTether, and then, finally, to USDT. Tether’s current price is US$1.00, and its market capitalization is more than US$68 billion, also investors believe that this undervalued cryptocurrency has great potential in the future.
XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. XRP’s current price is US$1.06, and its market capitalization is around US$50 billion. While the idea behind the Ripple payment platform was first voiced in 2004 by Ryan Fugger, it wasn’t until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple began to be built.
USD Coin is one of the undervalued cryptocurrencies with better returns. Its current price is US$0.9999, and its market capital is US$32,754,227,936. The stable coin was originally launched on a limited basis in September 2018. Put simply, USD Coin’s mantra is digital money for the digital age — and stablecoin is designed for a world where cashless transactions are becoming more common.
Everyone’s favorite Dogecoin is based on the popular Doge Internet meme and features a Shiba Inu on its logo. The open-source digital currency was created by Billy Markus, Oregon, and Jackson Palmer. Dogecoin’s current price is UD$0.2435, and its market capitalization is US$32,040,946,160.
Algorand is a self-sustaining, decentralized, blockchain-based network that supports a wide range of applications. These systems are secure, scalable, and efficient, all critical properties for effective applications in the real world. Algorand’s current price is US$1.19, and its market capitalization is US$11,808,483,712. If you are planning to invest in affordable cryptocurrency, Algorand might be the one.
Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Polygon’s current price is US$1.30, and its market capitalization is US$8,700,193,396.
Theta (THETA) is a blockchain-powered network purpose-built for video streaming. Launched in March 2019, the Theta main net operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis. Its current price is US$6.74, and its market capital is US$6,733,207,299.
Tezos is a blockchain network that’s based on smart contracts, in a way that’s not too dissimilar to Ethereum. However, there’s a big difference: Tezos aims to offer infrastructure that is more advanced — meaning it can evolve and improve over time without there ever being a danger of a hard fork. Its current price is US$7.57, and its market capital is US$6,532,465,817.
Fantom is a directed acyclic graph (DAG) smart contract platform providing decentralized finance (DeFi) services to developers using its bespoke consensus algorithm. Together with its in-house token FTM, Fantom aims to solve problems associated with smart-contract platforms, specifically transaction speed, which developers say they have reduced to under two seconds. Fantom’s current price is US$2.23, and its market capitalization is US$5,678,864,796.
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