The general cryptocurrency market continues to show signs of depression, with most assets struggling to make decisive moves in either direction. In this line, investors are eagerly awaiting a potential catalyst that could drive the market to new highs.
Despite the overall market’s downturn, several cryptocurrencies still present opportunities for those looking to enter the market. Finbold has identified the following three cryptocurrencies valued at less than $1, which may be worth considering as investment opportunities as the week starting Monday, September 4 begins. Notably, these cryptocurrencies have shown indications of possible price rallies, supported by strong fundamentals.
XDC Network seven-day price chart. Source: Finbold
Cardano (ADA)
Cardano (ADA), one of the most promising cryptocurrency projects in the market, has shown remarkable improvements in its development activity and on-chain metrics during a period when the overall market has remained relatively stagnant. According to data from crypto analysis platform Santiment, as of September 4, Cardano has experienced a significant surge in transaction volume, marking its highest level since April.
The platform pointed out that this uptick in transaction activity reflects a growing utility, a critical factor for driving a potential price rally, especially when combined with the platform’s social dominance.
Furthermore, on August 30, Finbold reported that the number of new unique wallet addresses for Cardano has increased by 6% since April 1, rising from 4.02 million wallets to 4.26 million wallets as of August 29.
By press time, ADA is trading at $0.26, showing daily gains of over 1%.
Cardano seven-day price chart. Source: Finbold
Stellar (XLM)
Stellar (XLM), a peer-to-peer (P2P) decentralized network, has been on a bullish trendline in recent days. Notably, the token has been rising in recent days partly due to key partnerships such as the recent acknowledgment as a possible enabler for the blockchain aspect of the FedNow Payment System. FedNow, an instant payment system developed by the Federal Reserve, seeks to bridge the gap between traditional banking and decentralized finance (DeFi).
Should Stellar Lumens be chosen as the blockchain solution for this service, the value of XLM is expected to continue to rise. The prospect of such a high-profile collaboration will likely spur interest in the token.
At the same time, Steller developers also dropped cryptic hint regarding a significant announcement slated for the upcoming week. The nature and potential impact of this forthcoming news on the XLM token remain shrouded in uncertainty.
By press time, XLM was valued at $0.13 with daily gains of over 10%.
Stellar seven-day price chart. Source: Finbold
It is worth noting that in the volatile crypto market, the aforementioned assets remain susceptible to significant price swings.
Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
