Hello, traders!
Today I would like to present to you 5 cryptocurrency projects that are priced underneath $0.1 with HUGE potential ahead of themselves.
When people see a coin priced at $0.1 they tend to see dollar signs in their eyes as they believe that they can make gains that will outstrip Bitcoin. On the face of it all, this does make some sense as Bitcoin is priced at $7,500 and XXX coin is ONLY $0.1 - that must mean that if XXX coin can get to just $1000 I am RICH.
The only problem is, they NEVER take into account the total supply of the coin itself.
If a coin is priced at $0.1, it is usually just to do with the fact that there is a very large token supply out there.
You can spot these types of ‘traders’ all over the place. For example, there are lots of screams on the internet that XRP can (and will) go to $100. What they don’t understand is that if XRP is $100 this would mean that its total market cap would be around $100T - Yes, that is T for TRILLION!
That is pretty outlandish when you consider the fact that a $100 Trillion market cap would be 100x the size of Microsoft!
So...no, XRP will not hit $100 guys - I am sorry to break it to you.
BUT
The Bitcoin block halving is on the way and is just a few short weeks from now as it is expected on the 12th of May 2020. With the possible price increase caused by the reduction in supply making headlines, this will cause the average investor (non-crypto specific) to rush back to their computers to pick up some BTC - after they reset the password to their old Coinbase accounts to gain access again.
However, they will find that the BTC price is already out of their budget which might cause them to look for cheaper alternatives. This is when they will look to invest in these coins under $0.1 AND this is where we can capitalize!
These new investors do not understand token supplies. They do not realize that there are billions of XRP available and only 21 million BTC.
Nevertheless, the coins under $0.1 on this list have SOLID foundations and they too have the potential to give us strong gains ahead. It does not matter if the coin is $0.1 or $10,000 - a 30% price increase is a 30% price increase.
So, in light of this, let us get ahead of the curve and prepare our portfolio.
Cardano (ADA)
Cardano is a serious cryptocurrency project as it takes the scientific philosophy and research-based approach to developing its blockchain platform and smart contract protocol.
Although developing a platform using this ethos can be very time-intensive, it is designed to create a smart contract platform that has a very High Assurance Code and can deliver more advanced features than any other protocol developed as the entire codebase is vigorously peer-reviewed.
This pretty much means that we can put a higher trust in the code of Cardano relative to other cryptocurrency projects that aren’t peer-reviewed in such a fashion.
It is described as a next-generation blockchain platform that is designed to solve problems with scalability, interoperability, sustainability, governance, and regulation.
The fact that Cardano is tackling interoperability, sustainability, and scalability leads to it being labeled as a 3rd generation blockchain project. The first two generations are Bitcoin and Ethereum, and they both struggle with these 3 problems.
It was created in 2015 when Charles Hoskinson and Jeremy Wood founded Input Output Hong Kong (IOHK) and started to create the makings of the Cardano project.
Charles Hoskinson is actually one of the co-founders of Ethereum, along with Vitalik Buterin and others, and he decided to separate and create his own solution to the problems that Ethereum faces today - mainly scalability.
Hoskinson was born in Colorado and went on to study Cryptography and mathematics at the University of Colorado - giving him a great foundation to be the leader of Cardano.
Along with creating Ethereum and Cardano, Hoskinson has also established the Cryptocurrency Research Group, is the founding chairman of the Bitcoin Foundation, and has acted as a director of the Bitcoin Education Project since 2013.
Recent Developments;
Cardano Byron Reboot Goes Live
After over 18 months of development, Cardano rebooted its Byron phase toward the end of February 2020 as it paves the way to the Shelly mainnet upgrade which will bring complete decentralization to Cardano.
The reboot involves a serious of updates to the Cardano network itself as well as updates to the Cardano node, explorer, and Daedalus Wallet backend. The new design for Byron is modular and is slated to separate the ledger, consensus, and network components of the nodes that allows any one of them to be changed without affecting other components.
The code was completely re-worked from scratch and all elements of the new Cardano node were formally specified, in line with the scientific-based development ethos for Cardano.
The changes to the backend of the wallet now also allow exchanges and developers to use a collection of independent libraries to easily interact with the Cardano network.
The Byron reboot is supposed to be increasing the performance for Cardano as well as increasing the transaction throughput on the network.
Cardano Release Ouroborus Hydra
After 5 years of development, Ouroborus Hydra was released during March 2020. Ouroborus Hydra is an off-chain scalability protocol that is slated to bring a transaction throughput for Cardano that can rival Visa.
The protocol increases the scalability and reduces the latency for the Cardano blockchain. It also allows for use cases such as micropayments, voting, and other uses that require low fees or instant transactions.
It is called Hydra because each user who connects to the network generates ‘10 heads’ which act as throughput lanes for data and transactions - leading to reduced latency as the entire network scales.
This is a great step to achieving scalability for Cardano as research conducted by the University of Edinburgh showed that each Hydra head can handle around 1,000 TPS. So with 1000 heads on the network, it could scale to 1 million TPS.
Cardano Price Analysis
ADA/USDt - DAILY CHART - Jan 2020 to Present
What Has Been Going On?
Looking at the chart for Cardano above, we can see that the cryptocurrency started the year off on a bullish footing as it surged by a total of 123% to reach a high of around $0.072 by mid-February. Unfortunately, it rolled over from here and started to decline during the tail end of the month.
During March, the overall cryptocurrency industry (and entire global economy) was hit by fear caused by uncertainty regarding the Coronavirus pandemic.
This caused a huge capitulation within the industry as Bitcoin tanked by 48% on March 12th alone. We can see that ADA was not immune to this Covid-19 caused sell-off and it too tanked until it reached support at the $0.0233 level. It did indeed spike even lower to $0.018 but managed to rebound quickly back above $0.0233.
From here, we can see that ADA started to stabilize and even started to grind higher toward the end of the month as it closed the month of March off at the $0.03 level.
During April 2020, ADA continued to climb higher as it reached resistance at $0.0367. During mid-April, it dropped slightly but managed to find support at $0.031 which is provided by a short term .382 Fib Retracement level. This level of support is further bolstered by the rising trend line. ADA rebounded from here and is now ready to make another attempt to break $0.0367.
Are We Bullish Or Bearish In April 2020?
Right now, we can be considered as neutral. However, if the buyers can break the resistance at $0.0367, the market would be considered as bullish.
It would need to drop beneath $0.03 before we can star to consider the market as bearish.
Where Can We Go From Here?
Once the buyers break $0.0367, the first level of immediate resistance lies at $0.0383 which is provided by a bearish .382 Fibonacci Retracement level that is measured from the February high to the March low. This level is further re-enforced by a 100-days EMA that sits marginally above it.
Beyond $0.0383, resistance is expected at $0.04 (1.414 Fib Extension), $0.043 (200-days EMA), and $0.0446 (bearish .5 Fib Retracement). If the buyers can break above $0.050, higher resistance lies at $0.051 (bearish .618 Fib Retracement) and $0.0542.
On the other hand, if the sellers start to push lower, we can expect support at the rising trend line. Beneath this, support lies at $0.031 (.382 Fib Retracement), $0.0292 (.5 Fib Retracement), and $0.027 (.618 Fib Retracement). This is followed by support at $0.025 and $0.0233.
The RSI has recently bounced off of the 50 line which is a very promising sign that the bulls are still in control of the market momentum.
To wrap up Cardano, let us quickly take a look at the developmental activity for the cryptocurrency;
Cardano Development Activity, April 2019 - Present
The data from Santiment shows that Cardano's developmental activity is going along very strongly. We can see a huge dip in activity toward the end of last year, however, this is nothing to worry about as it was just the devs taking some time off to enjoy the new-years break - everybody needs a rest!
Status
Status is primarily an open-source mobile messaging application that allows users to securely send messages to each other whilst upholding the privacy of individuals. It is kind of like a super-secure version of Whatsapp without the mass data collection behind it.
You can actually download Status on both iOS and Android today from their respective app stores. The app actually has over 50,000 downloads on the Google Play Store alone with over a 4.1 rating, thus far. 50,000 downloads is a pretty good number of users already in the crypto world and we can only expect this to grow.
However, Status goes much further than this as it acts as a multi-purpose application. Along with being a messaging application, users can also store their ERC-20 cryptocurrencies within the wallet. Along with this, there is an interface that allows users to connect to the Web 3.0 to access and use all of the powerful dApps that have been launched within the Ethereum ecosystem.
Pictured Above: Jarrad Hope
It was launched by Carl Bennetts and Jarrad Hope in 2017 as they created the project to create a secure communication tool that “upholds human rights”. More specifically, it was introduced to the world in 2016 when the co-founders gave a presentation at DevCon2 describing their vision to move forward.
From June 2017, after raising over $99 million in their ICO, the Status Network has flourished into a fully competent team that is driving the project forward.
Status is completely free to use. However, if you would like to reserve a username on the app you would need to hold SNT tokens to do so. There are other benefits with holding SNT as it grants voting rights on the Status Network. This means that the holders of the tokens are the true owners of the platform and have a say in which direction it should be headed within.
Vitalik Buterin is also a huge prominent advocate for the Status Network as he included it in his list of promising things that Ethereum has in 2020 that it did not have in 2017;
Buterin actually serves as an advisor to the Status Network and was actually one of the last projects he took on as an advisor role. He has continued to promote Status by talking about it on Twitter from time-to-time. The latest mention was as close as early-April 2020;
Recent Developments
Version 1.0 Released
After years of development and beta testing, the official version 1 of Status Messenger was released in February 2020.
This marks a very important milestone in the Status Network as it officially brings its platform to the masses. Users can now easily download the mobile application from the Google Play Store or App Store and start messaging each other securely.
Nimbus Development Continues
Along with releasing version 1.0 of their platform, the team continues to work on their Nimbus Protocol which a new node that is designed for scalability in ETH 2.0 and will act as an Ethereum sharding client. It is pretty much the Status Network’s contribution to ETH 2.0 as it ensures that Ethereum can run on mobile devices as well as IoT devices.
Status Price Analysis
SNT/USD - DAILY CHART - Jan 2020 to Present
What Has Been Going On?
Analyzing the daily chart for Status above, we can clearly see the massive 240% price increase that SNT witnessed during the first two months of 2020 as it exploded to reach the $0.0285 level.
Similarly, during March 2020, the Covid-19 pandemic caused panic within the market that caused SNT to drop as low as $0.006. It found solid support at the $0.08 level where it started to rebound.
It did not take long for SNT to recover all of the losses that were seen during the Covid-19 caused capitulation, in fact, it literally just took 1-week for SNT to increase back to the pre-Covid trading level at around $0.0165.
Unfortunately, we can see that SNT has been struggling with resistance at $0.02 which is provided by a bearish .618 Fib Retracement level and the market has still not been able to overcome this just yet.
During April 2020, we can see that SNT has dropped slightly but has managed to find support at $0.015 where lies the short term .382 Fib Retracement.
Are We Bullish Or Bearish In April 2020?
Right now, we are pretty much neutral. The market would have to close above the resistance at $0.02 before turning bullish again. It would need to drop beneath $0.011 for it to be considered as bearish in the short term.
Where Can We Go From Here?
Once the buyers manage to break the resistance at $0.02, the first level of higher resistance is located at $0.022 - the high-day closing price for February 2020. Above this, resistance lies at $0.0236 (bearish .786 Fib Retracement), $0.026 (bearish .886 Fib Retracement), and $0.0285 (February high & 1.618 Fib Extension).
On the other hand, the $0.015 level should provide some pretty solid support due to the .382 Fib Retracement and the 100-days & 200-days EMAs being located here. If the sellers break beneath this, support lies at $0.0131 (.5 Fib Retracement), $0.0111 (.618 Fib Retracement), and $0.01.
The RSI has recently broken back above the 50 line to show that the bulls have taken charge of the market momentum again.
Finally, to wrap up Status, let us quickly take a look at some Santiment metrics for additional analysis.
Firstly, looking at the developmental activity for the Status protocol below we can see that the developers are hard at work still. The team is working really hard it seems and we can see that they are making as many changes to the protocol as they were during late-2019.
Status Protocol Dev Activity, April 2019 - Present
Secondly, we have the daily active addresses for Status. We can clearly see that during 2020, ever since the team launched the first version of Status, the daily active addresses have been climbing quite significantly. This shows that the project is actually gaining some real-world user traction.
Status Daily Active Addresses, April 2019 - Present
Power Ledger
Power Ledger is an interesting blockchain project as it is focused on the sustainability of the energy markets. We all know that global warming is a huge problem within the world and more sustainable energy solutions are required to ensure that the next generation can live with the same benefits that we have today.
Power ledger aims to do its bit to the fight against global warming by providing a platform that allows users to sell their self-generated solar power energy to other users in their neighborhoods - removing the energy providing middle man from the entire equation.
This provides energy users with a choice to buy renewable energy directly from their neighbors and can be certain that their energy consumption is fully sustainable.
Power Ledger can be considered as a peer-to-peer energy trading market in which transactions of both energy generation and consumption are recorded on the platform in real-time.
It was the first ICO project to come out of Australia and it managed to raise around $13 million in its 2017 ICO. Power Ledger was founded by Dr. Jemma Green, David Martin, and John Bulich;
The team quickly grew as they went on to successfully developed its blockchain-based software program that allows users to buy and sell their energy.
Recent Developments
Now that the team has created its energy market platform, the next steps pretty much all involve inking deals in areas to get their markets active.
Power Ledger Wins Contract With Italy’s Largest Green Energy Utilities
In February 2020, Power Ledger managed to secure a contract with Alperia SpA, Italy’s leading electric utility company. It won the contract in an innovation camp ahead of 230 other applicants.
Power Ledger’s technology will be used to explore a range of services for Alperia’s commercial and residential customers which will involve energy trading, origin tracking, and reporting of renewable energy certificates.
The technology will also be integrated into smart meters at Alperia dedicated test sites to identify and calculate befits of the product service for its customers.
Power Ledger Reveals Biggest “Choose Your Own Energy” Project In France
In April 2020, Power Ledger teamed up with ekWateur, a green energy retailer in France, to roll out the energy trading platform to 220,000 meters across the country.
This partnership will now allow consumers to customize their own energy mix for the first time ever as they can choose which energy the would like to consume as well as the location it was sourced from with verification from the blockchain.
Power Ledger Sign 3-Year Deal To Bring Energy Trading to WA Homes
In April 2020, Power Ledger signed a deal with Connected Communities Energy to bring the platform across 10 residential developments being built by Nicheliving, the largest medium density developer in Western Austalia.
The partnership will deliver 100% renewable energy through the Power Ledger platform, starting with 62 apartments at Sky Homes in Inglewood.
Power Ledger Price Analysis
POWR/USD - DAILY CHART - Jan 2020 to Present
What Has Been Going On?
Taking a look at the daily chart above, we can see that POWR also started the year by surging by a total of 240% to reach a high-day closing price of $0.115 during mid-Feb 2020.
It had surged as high as $0.187 which actually equals a 450% price surge, however, this was a momentary spike and POWR quickly fell back lower toward $0.115.
During the March market capitulation, driven by uncertainty regarding the Coronavirus pandemic, we can see that POWR dropped as low as $0.0335, pretty much erasing all of the gains made in early 2020.
It started to rebound from here but was unable to overcome resistance at $0.062, where lies a bearish .382 Fib Retracement level.
During April, the cryptocurrency has traded within a tight range between the resistance at $0.062 and the support at $0.055. It is also trading above a rising support trend line - creating the confines of an ascending triangle.
Are We Bullish Or Bearish In April 2020?
Right now, we are neutral. We must break the resistance at $0.062 to turn bullish or, alternatively, if we break beneath $0.05 we could consider the market as bearish.
Where Can We Go From Here?
If the bulls can break above the triangle and pass the resistance at $0.062, the first level of higher resistance is located at $0.07. Above this, resistance lies at $0.073 (bearish .5 Fib Retracement), $0.08, and $0.0845 (bearish .618 Fib Retracement).
This is followed by resistance at $0.09 and $0.10 (bearish .786 Fib Retracement). If the buyers can continue higher above $0.1, resistance is expected at $0.11, $0.117, and $0.13.
On the other side, if the sellers break beneath the rising trend line and head lower, we can expect support at $0.054, $0.050, $0.048, $0.043, and $0.04.
Let us quickly look at the daily active addresses for Power Ledger from Santiment;
Power Ledger Daily Active Addresses, April 2019 - Present
We can see that in 2020, the daily active addresses seem to be rising quite significantly. This is probably largely driven by the fact that Power Ledger continues to onboard new partnerships which cause more people to join the network. As they continue with their expansion, we can expect the daily active addresses to continue to rise in the same fashion.
BlockStack
Blockstack can be described as a blockchain-based decentralized internet platform that allows users to fully own and control their data and identity. The entire platform is basically a decentralized computing network in which dApps can be hosted on the user’s local machine to ensure they retain their data.
Blockstack was founded by Muneeb Ali as early as 2013 and he actually managed to get the project to be the first SEC approved cryptocurrency - making it fully compliant with all SEC laws and regulations.
The team was actually working on Blockstacks for over 4 years before they brought it into the public domain.
Since launching, the project has gained the attention of some strong influencers and prominent figureheads within the cryptocurrency industry. These figureheads, such as Andreas Antononopolous and Naval Ravikant, are known to have attended and presented at Blockstack events;
You can even see Edward Snowden’s smiling face in the picture above.
Recent Developments
Stacks 2.0 On The Way
The biggest thing we can look forward to in 2020 is the release of Stacks 2.0 which will introduce the Proof-of-transfer (PoX) mining mechanism. This will introduce a system in which miners on the network will need to post BTC to mine a block. After they write the blocks, they earn 500 STX in exchange for their BTC. This is then propagated to stackers who keep a copy of the blockchain on their node and receive the BTC put up by the miners.
This PoX consensus mechanism is slated to use Bitcoin’s PoW to launch new blockchains that are anchored in Bitcoin’s security whilst giving incentives to earn Bitcoin rewards to participants of these newly launched blockchains.
STX Price Analysis
STX/USD - DAILY CHART - Jan 2020 to Present
What Has Been Going On?
STX had managed to increase by a total of 200% in the first two months of 2020 as it surged to a height of $0.26 during mid-Feb. The crypto went on to drop through the rest of February and reached a low of around $0.05 during the March market collapse.
STX did not start to recover as quickly as other coins on this list as it struggled to even break above $0.09 by the end of March. In April 2020, it attempted to break $0.10 but failed to do so which caused it to roll over and fall into the current support at $0.0845.
Are We Bullish Or Bearish In April 2020?
As of April 2020, we are neutral, however, the market is in strong danger of turning bearish if it breaks beneath the support at $0.0845. It would need to climb above the resistance at $0.10 before turning bullish.
Where Can We Go From Here?
If the buyers can break $0.1 (100-days EMA), the first level of resistance is located at $0.125 (bearish .382 Fib Retracement). Above this, resistance lies at $0.14, $0.15 (bearish .5 Fib Retracement), and $0.0176 (bearish .618 Fib Retracement).
This is then followed up with added resistance at $0.2, $0.213, and $0.24.
On the other hand, if the sellers break the support at $0.0845, added support lies at $0.073, $0.07, $0.059, and $0.052.
Loopring
Loopring is a solution to the problem that we have with centralized exchanges today. In today’s exchanges, we have to trust the exchange to keep our cryptocurrency safe as we make deposits within the exchange wallets. These wallets are notoriously known for being targeted by hackers.
Furthermore, centralized exchanges are often subjected to price manipulation and server downtimes in which no trades can be placed - even if the market is moving.
Loopring was founded in 2017 by Daniel Wang and Jay Zhou in China. It is an ERC-20 token, built on the Ethereum blockchain, that is the fuel that drives the over Loopring architecture. Loopring is basically a decentralized exchange protocol that allows developers to come and build Decentralized Exchanges (DEXs).
Since launching through an ICO, in which it raised over $45,000,000, the Loopring team has expanded into a very competent group of individuals.
NOTE: I must mention that Loopring actually had to give around 85% of its ICO back. This was around $38 million that they had to return, leaving them with only ~$7 million to work with. They had to give the ICO money back due to new regulation in China that was passed just a week after they conducted the ICO. Despite all of this, Loopring went on to thrive which is a strong indicator of how dedicated the team is.
It is important to note that Loopring is not an exchange itself (although they have released their own DEX - covered below) but it is a protocol that allows the facilitation of decentralized exchange.
As all DEXs built on Loopring operate under the same principles, they can all be grouped together to provide liquidity. Ring-miners are the entities that make sure orders are filled on Loopring DEX’s and they conduct the order matching for traders.
Recent Developments
Loopring.io Launches
One of the major recent developments is the fact that Loopring launched its own decentralized exchange toward the end of February 2020, Loopring.io, that allows users to easily trade ERC-20 tokens in a completely decentralized manner.
The exchange is built on top of Loopring 3.0 and is a great addition to the Loopring ecosystem.
Loopring Introduces zKRollups
The Loopring.io exchange also features the zKRollups that were built on top of Loopring 3.0. This now brings the development that Loopring has been working on to life. zkRollups acts as a layer 2 scaling solution that increases the number of transactions per second on the Ethereum blockchain whilst reducing fees.
This implementation of the xkRollups scaling can increase ETH Transactions Per Second from 20 TPS to around 2000 TPS;
It is important to note that the Loopring.io DEX can only settle around 200 TPS whilst guaranteeing the same level of security as the underlying Ethereum blockchain - as the exchange itself is a layer built on top of Loopring 3.0.
zkRollups also helps to reduce the trade fees to just $0.003 per trade on the Loopring.io DEX which is considerably lower than what you would pay on any type of centralized service.
Loopring Price Analysis
LRC/USD - DAILY CHART - Jan 2020 to Present
What Has Been Going On?
Loopring also saw an epic surge during the first two months of 2020 as it increased by a total of 200% to reach a high of around $0.06. During March, we can see that Loopring fell as low as $0.023 during the Covid-19 market wipeout as it found support at a .886 Fib Retracement level.
From here, Loopring started to form the makings of a symmetrical triangle formation and it remained within this formation throughout March and the first half of April.
However, toward the 16th of April, we can see that LRC broke up above this triangle as it started to surge higher. It spiked as high as $0.04 where it ran into resistance at a bearish .5 Fibonacci Retracement level. However, it was never able to close above the 200-days EMA at around $0.034.
It has dropped slightly but has started to make its way back above $0.03.
Are We Bullish Or Bearish In April 2020?
Right now we are still considered to be neutral until we can close above the resistance at $0.0343. It would need to drop beneath $0.026 before we can consider the market as bearish.
Where Can We Go From Here?
If the buyers can break the resistance at the 200-days EMA and break the $0.0343 resistance, higher resistance is then located at $0.036, $0.038, and $0.039 (bearish .5 Fbi Retracement). Above $0.04, added resistance is located at $0.042, $0.044 (bearish .618 Fib Retracement), $0.0457 (1.414 Fib Extension), $0.0487 (1.618 Fib Extension), and $0.05.
On the other hand, if the sellers push lower, support lies at $0.028, $0.026, $0.025, and $0.024.
Let us finish off Loopring by looking at the daily active deposit data from Santiment;
Loopring Daily Active Addresses, October 2019 - Present
Here we can see that the daily active deposits have been surging in February, ever since Loopring.io launched. As more traders start to use the DEX, we can expect the number of daily active deposits to continue to increase much further - contributing to the growth of the network.
