The cryptocurrency market is showing signs of recovery after a tough few weeks. Its total capitalization increased by 2.7% in the last 24 hours, reaching $1.37 trillion. It’s also a 10% jump since Saturday, and most major coins are up by similar amounts as well. However, some coins beat the market by a large margin. We look at them in this list of the top 5 cheap cryptos to buy right now.
3 Best Cheap Cryptocurrencies to Buy
1. Lucky Block (LBLOCK)
LBLOCK is down 10% in the last 24 hours, at $0.00221480. That was down 12% last week, but up 99% over the past 14 days.
LBLOCK may have dipped over the past day, but it shouldn’t be long before it takes off. In fact, the Lucky Block cryptographic gaming platform should settle its very first draw today. Scheduled for 8:00 pm BST (or 3:00 pm EST), its success will certainly boost confidence in Lucky Block. And by extension, it builds trust in LBLOCK.
Based on the Binance Smart Chain, Lucky Block plans to conduct regular draws from now on. The first draw features a $1 million prize, with ticket holders having a chance to win 70% of that prize pool. During this period, all LBLOCK holders will receive an equal 10% share of the same fund.
This meeting generated a lot of interest in LBLOCK, which now has 56,000 holders. That said, that number is expected to increase soon. Furthermore, Lucky Block plans to launch an Ethereum-based version of its token, while also set to gain more exchange listings. Together, such developments will boost the altcoin significantly. That’s why it’s in our top 5 cheap cryptos to buy.
5/ ???? V2 and CEX requirements
Regarding the V2 ERC20 token, we are also making good progress. We have started implementing changes to bring the contract more in line with CEX requirements.
— Lucky Block (@luckyblockcoin) April 28, 2022
2. Cardano (ADA)
At $0.677766, ADA is up 30% in the last 24 hours. It is also up 32% in the last seven days, but down 10% in the last 30 days.
The ADA chart shows that its indicators have breached the ceiling. In particular, its Relative Strength Index (in purple) rose above 95. This indicates very strong momentum, although bears may be wary that this also indicates overbought. That said, ADA’s 30-day moving average (in red) has exceeded its 200-day moving average (in blue). As such, a rally may be just beginning.
In fact, just yesterday the price of ADA started to rise. Even then, its initial increase was relatively modest, with the biggest gains coming early this morning.
There is no clear primary reason why the ADA is increasing today. On the one hand, the market has undervalued it for a long time, so it is partially correcting its mistakes. On the other hand, some positive (albeit moderate) news has come together to strengthen the case for the ADA.
On the one hand, Cardano recently celebrated an increase in transaction volume and usage. It recorded nearly $10 billion in trading volume a few days ago, while it has now issued over five million NFTs.
Cardano uses ghost transaction: it’s great! https://t.co/bp5ArVdkvn
—Charles Hoskinson (@IOHK_Charles) May 29, 2022
At the same time, confidence in some Cardano rivals – notably Solana – has weakened in recent days. As a result, some investors are looking for alternatives, with Cardano being the main one.
This is a question I asked some of our team members at our team offsite.
Are the breakdowns and problems @solana are they worried? if @solana suddenly absorbed a user base equal to @ethereum can he Can it evolve? https://t.co/v0zzFqTTaJ
— Messiri (@MessariCrypto) May 27, 2022
3. NEAR Protocol (NEAR)
NEAR is now at $6.15, representing a 9% increase over the past 24 hours. It was also up 5% last week, but down 40% last month.
NEAR’s RSI touched 80 in the past few hours, suggesting strong momentum. There is no particular short-term catalyst for its rise so far, except that the market is showing some renewed signs of life. That said, the NEAR protocol has seen organic growth over the past few weeks. Therefore, demand for NEAR is likely to increase.
For example, the total locked value of the NEAR protocol has increased from €1.5 million to €1.5 million. $228 million at the end of March to $531 million today. This is an increase of more than 100%, which is impressive as most other supermarket chains see their TVL decrease.
The platform also celebrated passing 10 million wallets, another sign of organic growth. At the same time, it benefited from the collapse of Terra, with some applications migrating to its proof-of-stake network. That’s why it’s in our top 5 cheap cryptos to buy.
More than 10M #NEAR Wallet accounts at @tamago_stream make headlines at @billboard and acceptance @Official_Tracer in NEAR from Terra, the ecosystem gets better and better. ????
Here’s everything that happened at NEAR in May ⬇️https://t.co/WqtUFek58Y
– NEAR Protocol (@NEARProtocol) May 27, 2022
Source: The Blog
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I am Ben Stock, a highly experienced news writer with several years of experience in the industry. I currently work for The News Dept as an author, where I specialize in market-related stories. My passion and expertise lies in providing readers with accurate and up-to-date information on the latest financial developments from around the world. I have been recognized for my clear writing style and ability to explain complex topics in simple terms that even those new to financial markets can understand.
My research skills are unparalleled when it comes to uncovering data points and trends concerning stocks, bonds, currencies and other assets that could affect global markets.
