While most investors in the crypto industry look to the big marquee brands like Bitcoin (BTC-USD) or Ethereum (ETH-USD) there exists overlooked cryptos to buy. Many of these cryptos may have underappreciated potential.
The coins in this article have much smaller lower caps than the big names. Small changes in their supply and demand dynamics can lead to huge spikes in value. The other side to the coin is that with more volatility inherently comes more risk, as the downside potential is equal.
However, if you’re on the hunt for these high-risk, high-reward investments in the first place, these overlooked cryptos to buy could be your best options. This is especially true as we move closer to the end of September. You don’t want to miss out on these opportunities.
ImmutableX (IMX)
ImmutableX (IMX-USD) has shown a significant increase of 31.5% in the last seven days. It is a layer-2 scaling solution for Ethereum. ImmutableX is focusing on NFTs, and aims to provide instant trade confirmation, scalability and no gas fees.
IMX coin is a particularly risky option. Analyst Colin Wu noted large transactions to Upbit exchange, hinting at a possible single whale being responsible for the price surge. Large price movements like this that are sometimes suspected to be caused by a single investor are often a tell of deliberate market manipulation. In practice, this means the coin could be coming back down to Earth again very soon.
On the other hand, whales don’t make these moves exclusively to manipulate the market either. Sometimes, it may be a signal of genuine interest. There’s some evidence that supports this could be the case. This is especially plausible as the IMX coin was also listed on the Japanese exchange Coincheck very recently. Either way, these developments make it one of those overlooked cryptos to buy.
Render Token (RNDR)
Render Token (RNDR-USD) has experienced a 4.1% increase in the last seven days. RNDR is a decentralized GPU rendering network built on the Ethereum blockchain. It is aiming to connect artists and applications with GPU owners. Noteworthy events such as exchange listings have influenced its value, experiencing highs like $8.76 in November 2021.
RNDR coin’s year-to-date performance also demands attention. It has grown more than 300%.
One important quality of RNDR is that it can be thought of as an AI token. At times, it moved in step with the rise of AI stocks like Nvidia (NASDAQ:NVDA). The coin rose 10% following AI hype created by Nvidia’s impressive earnings and projections this year. It seems logical this correlation will persist.
This makes it one of those overlooked cryptos to buy as investors can benefit from both a small-cap crypto and the continued rise of AI in the broader market.
Curve DAO Token (CRV)
Curve DAO Token (CRV-USD) has seen a notable increase of 8.9% in the last seven days. It is a decentralized exchange for stablecoins that uses an automated market maker (AMM) to manage liquidity.
Some analysts predict that CRV token has the potential to gain 15% in the short term. However, it’s also noted that the token is facing bearish challenges as it attempts to break through its key support levels. Prior to this prediction, it briefly stepped into oversold territory after losing a hefty chunk of its value. Its momentum is now returning back to the upside as seen on the Relative Strength Index (RSI).
CRV token is not a pure momentum or technical analysis play. Instead, it’s backed by Binance Labs, which invested $5 million in Curve DAO Token post a $60 million hack, supporting its recovery and enabling its deployment on BNB Chain.
Securing a token listing on Binance can be challenging, as the platform prioritizes projects with a proven team, a useful product and a large user base even during the initial screening phase. This barrier to entry helps ensure quality, which the platform has been tightening up on amid regulator scrutiny. The direct investment may also give CRV bulls an additional reason to feel optimistic, thus making it one of those overlooked cryptos to buy.
On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
