Investing in cryptocurrencies presents a wide range of opportunities. While much of the attention is given to major cryptos such as Bitcoin (BTC) and Ethereum (ETH), there are also hidden gems trading for less than $1. Despite their lower value, these lesser-known altcoins have the potential for significant growth. However, they come with a greater level of risk.
For those willing to accept a higher risk, allocating 10-20% of their investment capital to these altcoins could offer an exciting opportunity to diversify their portfolio and potentially benefit from significant gains in an upcoming bull market.
Polygon (MATIC) operates as an Ethereum Layer 2 scaling solution. For those new to the world of crypto, a Layer 2 crypto is built on top of an existing blockchain, with Ethereum serving as the Layer 1 crypto. Polygon’s main goal is to improve the scalability and functionality of the Ethereum network. This has been attractive to DeFi platforms, and the network boasts the capability to process thousands of transactions per second (TPS). This is a vast improvement compared to Ethereum’s TPS rate of approximately 15.
MATIC is currently trading at $0.5757, increasing 3.52% in the past day. The 24-hour trading volume for MATIC is 58,645,182.60 units. There has been a distinct V-shaped bottom since June 2022, and an emerging Adam & Eve bottom pattern is now forming from June to October 2023.
Stellar (XLM) is currently valued at $0.1083, with a 48-hour increase of +4.8%. The 24-hour trading volume for XLM totaled 58,479,936.00 units, equivalent to 6,338,245.41 USDT. The price has been oscillating around the 61.8% Fibonacci Retracement level, although persistent selling pressure has pushed the price back to this level, which is a concerning sign for bullish traders.
What distinguishes Stellar from other projects is its mission to connect financial institutions and lower transfer costs. With more businesses searching for efficient payment solutions, Stellar’s platform could gain significant traction in the financial sector.
Dogecoin (DOGE) is a risky asset and has limited utility. It is difficult to predict if the coin will ever get back to its peak. Buying the dip can be an effective short-term strategy, however, as Dogecoin has one of the largest communities of followers in the space and many celebrity endorsements.
DOGE is currently priced at $0.060, with a 3.4% increase in the past 24 hours. The current market cap of DOGE is $8.51B and its 24-hour trading volume is $ 162.32M. There is solid support holding at the $0.030 mark, which suggests the potential for a price surge.
Dogecoin can be a good asset for trading, but being a successful trader requires unique skills. Investing in Dogecoin for the long term may not be a viable strategy at this stage, as it may not provide the same level of long-term value and utility as other cryptos.
Cryptocurrency investing carries a high level of risk. It is important to remember that your capital is at risk and you should seek independent financial advice if necessary.
