VoskCoin has combed the cryptocurrency market, evaluating the performance of previous digital assets, as well as significant developments, to come up with a list of cryptocurrencies that are still available for under $1, making them worthy to keep an eye on in April.
Shiba Inu (SHIB)
Shiba Inu (SHIB), which is now one of the cryptocurrencies accepted at Burger King Paris thanks to Alchemy Pay and Binance Pay, has recently rekindled investor interest. However, it is the most recent update to the Shibarium testnet that has allayed ‘FUD’ (‘fear, uncertainty, doubt’) regarding the upcoming Layer 2 network due to Shibarium’s chain ID sharing the same ID as the Rinia testnet blockchain.
The meme coin has been performing worse than average in the context of the broader emotion in the cryptocurrency market, but over time, it has managed to increase in value by 26.84% since the beginning of the year, changing hands at a price of $0.00001031 at the time of this writing.
Dogecoin (DOGE)
Dogecoin (DOGE), one of Elon Musk’s favorite cryptocurrencies, has historically seen price increases sparked by the Tesla (NASDAQ: TSLA) and Twitter CEO’s tweets on it, and it recently did so once more. Musk was specifically asked by Twitter user DogeDesigner about visiting the Twitter headquarters, to which the well-known supporter of DOGE humorously answered that it would “cost 3 Doge,” raising the price of DOGE.
The Dogecoin Foundation simultaneously released a significant update to its libdogecoin toolset that included a number of new features, fixes, and enhancements, such as the support for QR codes, which, when combined with the community’s enthusiasm regarding Musk’s support, suggests a chance of further strengthening from its current price of $0.07229.
Stellar (XLM)
Since the beginning of the year, Stellar (XLM), one of the earliest protocols intended to improve payment capabilities around the world, has shown consistent strength thanks to the creation of its new smart contract platform Soroban, which is intended to run on top of Stellar and “advance and uphold this mission.”
In addition, due to the network’s high functionality and design facilitating mass enterprise adoption, the central bank of Brazil has recently started testing on the Stellar blockchain to launch its own central bank digital currency (CBDC), called Digital Real. This development coincides with XLM price rising 6% in the previous month and 6.89% in the previous week, trading at $0.09 at press time.
VeChain (VET)
VeChain (VET), a Layer 1 enterprise blockchain ecosystem, recently released the updated VET 3.0 whitepaper, in which the company provided a detailed roadmap of the VeChain protocol over the course of the next few years, with a stronger emphasis on sustainability in the cryptocurrency area.
The ecosystem’s team also demonstrated its wine NFT solutions at ProWein, the annual wine and spirit industry trade show held in Düsseldorf, Germany, which helped to (re)capture investor interest. This resulted in a year-to-date (YTD) price gain of 35.7% to the current $0.02.
Fantom (FTM)
Finally, Fantom (FTM) recently announced its plans to change the prerequisites for validator staking on its platform, lowering the minimum requirement from the previously extravagant 3.175 million FTM, which was subsequently reduced to 500,000 FTM (compared to Ethereum’s 32 ETH), to a more cost-effective 50,000, 75,000, or 100,000 FTM.
In addition, Fantom has unveiled a fresh mainnet upgrade that should reduce block and P2P processing times by 30% while also enabling the network to process some files and search logs more quickly. Despite falling 12.68% in the past week and now trading at $0.40, FTM has increased in value over 100% from the beginning of the year.
Conclusion
Considering everything, no wise investor should limit themselves to investments that cost less than $1 simply because they are a cheap way to amass tokens and coins. The cryptocurrencies indicated above, however, are among the most worthwhile investments for April 2023.
Disclaimer: The content in this post should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.