The cryptocurrency market is up by 2% after a difficult previous week. Its total stands at $1.041 trillion, representing a 1.3% rise in the last seven days, and 7.8% drop in the last 30. However, with Ethereum’s Merge on the horizon, the entire market could receive a boost in the next few weeks. It’s likely that newer, small-cap altcoins will receive a bigger boost than most, given that many start from a low base. As such, here’s our list of the 5 best cheap cryptocurrencies to buy.
5 Best Cheap Cryptocurrencies to Buy
1. Battle Infinity (IBAT)
IBAT is down by 5% in the past 24 hours, dropping to $0.00439150. This is a 0.5% fall in seven days, and a 20% correction since the altcoin reached an all-time high of $0.00554060 last week.
IBAT may have climbed down from its ATH, but it remains an extremely young altcoin, so there’s every chance it will rise again in the near term. Especially if the Merge does cause a short- or medium-term bull market.
Running on Binance Smart Chain, Battle Infinity is a play-to-earn crypto gaming platform that sold out its presale within a couple of weeks. It announced its first listing, on PancakeSwap, on August 17th. Since then it has gained a listing on CEX LBANK Exchange, with deposits already live. It has also just listed on DEX Coin98, providing it with further liquidity.
If #Coin98Exchange is a glorious galaxy 💫, these are 5 new stars that shines recently✨✨
— Coin98 Exchange (@coin98_exchange) September 4, 2022
Battle Infinity’s sports-themed gaming metaverse will feature a growing range of games. The most interesting of these is arguably the IBAT Premier League, in which users will build their own fantasy sports teams made up of NFTs of real-life athletes. Said teams will compete against each other, with winners receiving crypto-based rewards.
In time, Battle Infinity will also grow to incorporate other crypto and NFT-based games, while also introducing its own competitive staking feature, its own DEX, and an NFT marketplace.
2. Tamadoge (TAMA)
Running on the Ethereum blockchain, TAMA is the native token of the pet-themed Tamadoge metaverse. It’s here that users will soon be able to mint NFT-based pets, nurture them and battle them with each other.
Its presale kicked off in early August, and is due to end in the coming days. Investors can purchase TAMA tokens via its official website in exchange for either ETH or USDT. Impressively, the sale has already raised $11.5 million, which is far beyond its original target of $2 million.
🚨ANOTHER MAJOR MILESTONE ACHIEVED BY THE #TAMADOGEARMY 🚨
🔥WE HAVE NOW PASSED THE $11,500,000 MARK🔥
✅ YES! -WE ARE SELLING OUT FAST!
— TAMADOGE (@Tamadogecoin) September 5, 2022
TAMA has unusually strong fundamentals for an ostensible meme token. These come from its surrounding metaverse, which offers play-to-earn features, with players able to battle their Tamadoge pets and earn rewards for doing so. On top of this, they can also sell their NFT-based Tamadoges on the secondary market, offering real potential for significant profits.
TAMA has also confirmed its first exchange listing, which will be on LBANK once its presale ends. Given that it hasn’t even finished its presale yet, this is good going, as is the fact that Tamadoge already has over 53,000 followers on Twitter.
Join the #presale now and be ahead of the game 😎
Reminder: We already confirmed LBank listing after the presale, is it worth getting in early? You do the math 👀🔣
— TAMADOGE (@Tamadogecoin) August 21, 2022
3. Ethereum Classic (ETC)
ETC is up by 26% in the past 24 hours, at $40.56. This price is a 20% rise in the past week, and a 6% rise in the past month.
ETC’s indicators are very strong right now, unsurprisingly. Its relative strength index (in purple) has jumped to nearly 70. Meanwhile, its 30-day moving average (in red) formed a golden cross with its 200-day average (in blue) in early August. It is, in other words, in the midst of a breakout rally.
There’s a simple reason for this breakout: Ethereum and its upcoming Merge. This shift to proof-of-stake is due to happen at some point between September 13 and 15, according to Vitalik Buterin’s latest updates. It will see Ethereum’s miners becoming redundant, with many likely to move to Ethereum Classic. This will boost the security and strength of the latter’s blockchain network, making it more attractive to developers and users.
In fact, hashrate data suggests that miners have already begun moving to Ethereum Classic. According to BitInfoCharts, its rate has more than doubled since mid-July. This alone shows how much Ethereum Classic will benefit from the Merge, and why ETC is one of our 5 best cheap cryptocurrencies to buy. Although it probably won’t stay cheap for long.
4. Lucky Block (LBLOCK)
At $0.00085258, LBLOCK has risen by 3% in a day and by a huge 120% in a week. It’s also up by 86% in a fortnight, while being down by 35% in a month.
LBLOCK’s indicators show a spike in momentum. This is particularly apparent with its RSI a few days ago, when its price jumped from around $0.00165909 to as high as $0.00096428.
What seems to be happening with LBLOCK is that its market is settling down after an influx of new listings and liquidity. Such an influx introduces volatility in the short-term, but in the long-term, it potentially increases the depth of a coin’s market and the demand for it. For example, LBLOCK has recently gone live on Gate.io, while it has also been listed on Uniswap, MEXC Global and LBANK Exchange in the past few weeks. Such listings will be very positive for it in the long run, if only by making it more accessible to more buyers.
Gm #LuckyBlockArmy! 🌤️
Would you like to enter the Lucky Block spaceship? You can do so now by buying V2 $LBLOCK on Uniswap! 🚀
— Lucky Block (@luckyblockcoin) August 26, 2022
Turning to its fundamentals, Lucky Block is a crypto games platform that enables users to enter prize draws with a minimum guaranteed payout of $50,000. These prize draws launched at the end of May, while Lucky Block has recently expanded its ecosystem to include various NFT-related competitions.
Gm! Start your day by grabbing one of the Platinum Rollers Club #NFTs 🌤️
— Lucky Block (@luckyblockcoin) August 18, 2022
One of Lucky Block’s most appealing features is that holders of LBLOCK can receive rewards for voting for charities that will receive a 10% portion of each prize fund. Together with its other features, this makes for an interesting and promising ecosystem, which is why LBLOCK is one of our 5 best cheap cryptocurrencies to buy now.
5. Ravencoin (RVN)
Continuing with the theme of altcoins likely to benefit indirectly from Ethereum’s Merge, RVN has jumped by 14% in a day. At $0.03720863, it’s also up 26% in a week, but down by 2.5% in a month.
RVN’s indicators are much like ETC’s. That is, its RSI has shot up above 60 in the past couple of days, while its 30-day average is close to overtaking its 200-day. The fact that the 30-day hasn’t crossed the longer term moving average is significant, however, since it could indicate that RVN is yet to benefit from its post-Merge rally.
As with Ethereum Classic, Ravencoin is likely to witness an influx of former Ethereum miners. This is because it uses a very similar mining algorithm to Ethereum’s. That said, it’s probably unlikely that it will benefit as much as Ethereum Classic, with its tweets per day only reaching as high as 624 in the past few days (compared to recent peaks of 2,000+ for ETC).
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