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Best cryptocurrencies to buy with a market cap of less than USD 500 Million today

The crypto market, in general, has in recent years seen exponential growth. It’s therefore easy to think that there aren’t many coins that have enough upside for growth for you as an investor to take advantage of. But that’s not true. There are some coins that appear to be flying under the radar and as such, they are criminally undervalued. Here are some points:

  • Typically, coins with low market caps still have some room to grow.

  • They can be relatively new blockchain projects or older ones with a new twist.

  • Despite the low market cap, the coins should also have long-term intrinsic value as well.

So, if you are keen on finding the next crypto bargain, here are some incredible coins trading for less than USD 500 million in market cap:

Ultra (UOS)

Ultra (UOS) is an entertainment platform that provides a decentralised platform for people to publish and sell their entertainment. It could be music, videos, games, or anything else. It is actually the first such platform on the blockchain, and funny enough, Ultra has been under the radar for quite some time. 

Data Source: Tradingview.com

But this won’t last long. In fact, at the time of writing, the 24-hour trading volume had spiked by nearly 30%. The coin is trading at a market cap of $440 million with a price of $1.58 per coin.

EverRise (RISE)

EverRise (RISE) is a blockchain project designed to bring greater security in decentralised finance. The project is also looking to build an innovative system of DApps to accelerate access to DeFi around the world. 

It is a very promising initiative but remains significantly undervalued. At press time, the coin was trading at a market cap of around $55 million. The price per coin at the time was $0.0009016.

The post Best cryptocurrencies to buy with a market cap of less than USD 500 Million today appeared first on Coin Journal.

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China’s Xinhua News Agency to issue out commemorative NFTs

The state news agency has outlined plans to release digital news collectibles, despite authorities in the People’s Republic of China showing skepticism of the underlying blockchain technology

China’s state-run Xinhua agency is gearing up for a December 24 release for an NFT collection to document photographic news reports captured by the agency’s journalists across the year. The digital news collectibles would be available for free via the agency’s news app and will include a set of 11 photos, capped at 10,000 copies each, Bloomberg reports. There will also be a special edition to follow the first batch of released collectibles.

„It’s a unique year-end review. Moreover, it’s digital memory written in the metaverse,“ the agency said.

The news outlet added that the NFTs would hold collection value and bear unique identifying information reflecting ownership. Following the announcement, Chinese companies operating in the NFT sector, such as Perfect Rose and Goertek, were trading higher.

It now seems that the fate of NFTs in the country could be getting more lucid given that media institution Tencent Holdings said in November that the Asian country is soon expected to allow metaverse virtual environment activity, subject to compliance with domestic rules.

The PBoC harbours concerns about NFTs

Earlier this month, the People’s Bank of China (PBoC) warned citizens of the inherent risks as interest in NFTs and the metaverse rises. The central bank warned that these virtual assets could easily be misused and taken up as channels of money laundering schemes. An official from the bank said the bank would scale information sharing and enhance cooperation with law enforcement to prevent fraud and illegal monetary engagements.

Xinhua News Agency’s move is no first for NFTs in China as a few business entities, including Tencent and Ant Group, have already launched NFTs, though under strictly-controlled blockchains. In July, The South China Morning Post introduced plans to tokenise a series of historical assets onto blockchain using a novel token standard called ARTIFACT.

ARTIFACT’s litepaper explained that the standardised structure would be used to digitally immortalise key historical moments from the legendary agency’s 118-year-old archive. The NFTs would capture news moments in various representations, including infographics, photographs, and data visualisations.

The digital collectibles market has been one of the standout developments this year, with owners from around the world netting to the tune of millions of dollars from minting them. However, in China, it has remained a gray area, or rather an area of concern, as its legality remains in limbo.

It remains to be seen what China’s relationship with the NFTs would look like as the assets‘ underlying blockchain technology is ideally the same one backing the troubled cryptocurrencies.

The post China’s Xinhua News Agency to issue out commemorative NFTs appeared first on Coin Journal.

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The best cryptocurrencies for long term value investing

With the volatility often associated with cryptocurrencies, it’s easy to assume that they are only speculative assets designed for short-term investing. But you’d be wrong. For instance, even though a coin like Bitcoin has seen wild swings in prices in recent months, it’s still up over 100% year to date. So, crypto is a decent asset class for long-term value investing, and here is why.

  • First, most established coins are backed by decent underlying fundamentals that have real economic value.

  • The history of crypto shows steady and consistent gains over time. This won’t change even in the future.

  • The trick is to buy into an asset early before you are priced out

If you are thinking of adding crypto as part of your long-term investment portfolio, here are two coins that must consider very seriously:

Solana (SOL)

Solana (SOL) is a proof of stake public blockchain designed to power decentralised services and applications. Think of it as Windows for PCs or Android for mobile but instead of powering phones and computers, it is the ecosystem that will power the future of decentralisation. 

Data Source: Tradingview.com 

Solana (SOL) is highly rated and is often seen as the most direct competitor for Ethereum. It’s also faster, more efficient, and cheaper. But unlike Ethereum, it is still undervalued. At press time. Solana (SOL) was valued at $178 with a market cap of $55 billion. There is still a lot of potential for more growth in the long term.

UniSwap (UNI)

UniSwap (UNI) is the largest decentralised exchange in the world or DEX. The DEX is built on the Ethereum network, and it allows peer-to-peer crypto trading. 

Decentralised exchanges are expected to become huge in the future as investors look for more autonomy in trading. UniSwap will lead the way. At the time of writing, the coin was trading at $16.81 with a market cap of around $10 billion.

The post The best cryptocurrencies for long term value investing appeared first on Coin Journal.

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The best cryptocurrencies for short term day trading

Day trading is the practice of buying crypto assets, holding them for a short time (typically less than 24 hours), and selling them at a profit. It is a very risky trading strategy too, but with the right approach, it can be used to cash in on the short-term volatility in the market. However, not all cryptocurrencies are suited for day trading. In fact, here are some attributes that typically define the best day trading assets.

  • The asset needs to have a relatively high trading volume. This makes it easier for orders to get filled.

  • Day trading assets also need to be newsworthy in that, if something happens, they get covered in major crypto news.

  • Finally, the asset also needs to be relatively more volatile compared to other cryptos.

Well, in case you want to day trade crypto, the following are some two assets you can consider based on the criteria above:

Bitcoin (BTC)

The main reason why Bitcoin (BTC) makes it into the list is based on the sheer trade volume. As one of the most popular cryptocurrencies in the world, it is also a newsworthy coin. After all, news related to Bitcoin will always be on the front page of any decent crypto site.

Data Source: Tradingview.com

At the time of writing, BTC had a 24-hour trade volume of nearly $24 billion. Also, Bitcoin is supported in most crypto day trading derivatives, including futures, CFDs, options, and others.

Tether (USDT)

Tether (USDT) is the largest stablecoin. Just like Bitcoin, it has a huge trading volume. In fact, its trading volume at the time of writing was around $61 Billion, nearly 3 times more than Bitcoin.

Tether (USDT) is however not nearly as volatile as Bitcoin but there is enough volatility there for a day trader to profit. It also gets a lot of press coverage so you are going to have all the info you need.

The post The best cryptocurrencies for short term day trading appeared first on Coin Journal.