The crypto market’s upward trend this year shows the resilience of top cryptocurrencies. Although not as rapid as previous bull runs, this uptick is positive, since a rising tide should continue to lift all boats. For smaller projects that provide utility and long-term growth, not just memecoins, that’s likely to produce big gains. I strongly support utility coins and recommend allocating most of your crypto portfolio to them.
However, there still exists some under-appreciated projects with very compelling valuations. These cheap cryptos can realistically deliver millionaire-making returns, if more people become aware of them. I will list three of them today, and I will warm that you should do your own research before jumping in, as these are very small projects.
Most cryptocurrencies lack profit-making businesses, making it difficult to categorize any as “cheap cryptos.” That said, these tokens have traded higher in the past, and could certainly do so in the future if the market continues to outperform.
Let’s dive into three low-cap cryptos with substantial potential for appreciation!
ATOR Protocol (ATOR-USD)
ATOR Protocol (ATOR-USD) empowers Tor network adoption, facilitating anonymous communication on the internet. This crypto project rewards users who run Tor relays with its native token, ATOR, through a proof-of-uptime protocol. ATOR also sells hardware products such as routers and relays that allow non-technical users to contribute to Tor and my ATOR.
ATOR Protocol is intriguing, as it effectively tackles privacy and security needs in the Web 3.0 era. As more people become aware of the risks of surveillance and online censorship, they will seek solutions that protect their identity and data. ATOR Protocol incentivizes users to support Tor, a widely trusted anonymity network, offering a valuable solution.
Moreover, ATOR Protocol has a lot of room for growth in terms of its market cap and token price. After a steady uptrend, it encountered resistance around 50 cents, resulting in a subsequent downward slide.
ATOR Protocol may find support around 30 cents before rebounding and breaking out of its current range. Now is a good time to buy it, considering the project still remains under the radar and has a lot of potential to attract more users and investors in the future.
Kaspa (KAS-USD)
Kaspa (KAS-USD) is a proof-of-work cryptocurrency that implements the GHOSTDAG protocol, which is a scalable generalization of the Bitcoin (BTC-USD) consensus. GHOSTDAG enables parallel blocks to coexist and achieve consensus, unlike traditional blockchains that orphan blocks. Kaspa blockchain is a blockDAG that combines high block rates with proof-of-work security levels.
I find Kaspa very appealing because it offers a fast and low-cost transaction layer that can compete with other scaling solutions, such as layer 2 protocols or sidechains. Kaspa offers instant validation and confirmation times based on internet latency. This makes it suitable for high-volume applications that don’t want to compromise decentralization or security.
Additionally, Kaspa implements a unique monetary policy that reduces emissions geometrically over time, inspired by the 12-note scale of music. This policy creates a predictable and harmonious supply curve that reduces inflation and rewards early adopters.
Kaspa has been on quite a run after bottoming out in late-May 2023. Since then, it has surged dramatically, and it appears the momentum has been accelerating.
Considering the project’s $625 million valuation at the time of writing, there is significant upside potential with this crypto. Kaspa’s price action is being spurred by strong momentum, and I expect this momentum to continue in the coming months.
Render Token (RNDR-USD)
I’ve been talking about Render Token (RNDR-USD) for quite some time. Notably, this is one of the top cryptos in terms of gains this year, something of a feather in my cap.
There are many reasons for this. The Render Network buys GPU computing power from users worldwide through the blockchain and then resells it in bulk to individuals or institutions in need of cheap computing power. I believe that’s a great use case, since the demand for such computing power has been rising tremendously. One only needs to look at the surge in semiconductor demand, to see what I mean. This token has hit a high of $2.70 this year and currently sits below $2, a great entry point for long-term investors.
Many trends are going in its favor, such as the increasing interest in gaming, graphics design, filmmaking (which requires GPU computing power for rendering), and most recently, AI, which I think is the most substantial trend. I believe Render Token can leverage these trends and take off in the next few years.
On Low-Capitalization and Low-Volume Cryptocurrencies: InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask that InvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More: How to Avoid Popular Cryptocurrency Scams
On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
