Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. Today I will be starting a new series where I take an in-depth look at a select number of Coins / Tokens under $0.01. With the year 2022 almost coming to an end I feel it is as good a time as any to see which are the most interesting coins within this bracket, in the hopes they could become some of the bigger players in 2023 and beyond. This article was written with the coin value as of the 3rd of December 2022 and prices along with CoinGecko rankings may have varied since then.
Shiba Inu (SHIB) - CoinGeko Number #15
First on the list is SHIB, a well known coin which is currently sitting at number 15 in the CoinGeko charts. This is a meme token which began as a fun currency and has now transformed into a decentralized ecosystem. During the initial launch, 50% of the supply was allocated into Vitalik Buterin's Ethereum wallet, which he later donated 10% of his SHIB holdings to a COVID-19 relief effort in India and the remaining 40% is burnt forever. That donation equated to $1 billion at that time, and makes it one of the largest donation ever in the world.
It has a circulating supply of 590 Trillion SHIB coins and a total supply of 1 Quadrillion.
Currently is has a market cap ranking of 15 and this is backed by its market cap value of $5,480,075,097.
The current trading price for SHIB is $0.00000930, which is down about 89% from its all time high of $0.00008616 on 28th October, 2021.
As per the image below, if SHIB managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
My opinion on meme coins, and always will be, is that they are a fun novelty but not a serious investment. While the entire crypto market has been in turmoil, my firm belief is the projects with actual use will be the ones who outlast the rest. While SHIB was fun for people to feel like they owned a lot because of the sheer number of coins, in reality that is just a psychological trick to ensnare people into buying it. Very little of worth has emerged from the project since it became a phenomenon and promises of improved exchange, games, etc, has seen little in terms of fruition. While it has a large cult following, it is really just those who got in at the very beginning who managed to see any real life changing gains from the coin. Overall, steer clear of this one unless you really favour risks.
Terra Luna Classic (LUNC) - CoinGeko Number #40
Luna is the reserve currency of the Terra platform. It had three core functions: i) mine Terra transactions through staking, ii) ensure the price stability of Terra stablecoins and iii) provide incentives for the platform’s blockchain validators. All of that went out the window after the price crash last summer, with founder Do Kwon now wanted in South Korea and basically on the run from the police. The coin has however seen a remarkable rise again from its all time low back on 13th of May, 2022. If anybody had invested in it back then they would have a return of about 17903.2% today, and that would have been over 51,000% back in early September.
It has a circulating supply of about 6 Trillion coins and a total supply of 6.87 Trillion coins.
Currently is has a market cap ranking of 40 and this is backed by its market cap value of $1,076,223,299.
The current trading price for LUNC is $0.00017907, which is down more than 100% from its all time high of $119.18 on 5th of April, 2022.
As per the image below, if LUNC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
I don't have high hopes really, and those who invested at it during its all time highs will never see that money back. However it has shown it can be a moon-shot coin and would have brought excellent returns for any who risked investing at its lowest point. A mere $20 back then would be worth over $1,000,000 today, although it was seen as madness to go near the coin then. I do not believe it will have major growth in the thousands of percent again, however it could turn into a nice return of profit and be a 10x or more coin if it keeps with the momentum and traction it has built since the crash. One to watch.
BitTorrent (BTT) - CoinGeko Number #59
BitTorrent is the next generation of decentralized file sharing, having created the utility token BTT to allow users to make the most of their filesharing Dapps. It is available as a feature of BitTorrent and µTorrent Web, as well as µTorrent Classic. By using BitTorrent Speed, downloaders have the option of providing BTT tokens to uploaders in exchange for faster download speeds, and in turn becoming incentive for uploaders to seed files for longer along with dedicating more of their bandwidth and storage to other torrent clients in the network. Once someone has finished downloading a torrent file, they can automatically earn BTT by seeding. It has been redenominated to a ratio of 1:1000, while also migrating from a TRC-10 utility token to a TRC-20.
It has a circulating supply of 950 Trillion coins and a total supply of 990 Trillion coins.
Currently is has a market cap ranking of 59 and this is backed by its market cap value of $667,472,443.
The current trading price for BTT is $0.000000703759, which is down about 79.5% from its all time high of $0.00000343 on 21st January, 2022.
As per the image below, if BTT managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The outlook for BTT is not the greatest. From many analysists, they predict a poor long term return for the coin, many even believing it will be a loss in the long run. Many are promising significant decline by 2030, mainly due to the lack of large uptake in the modern era. Back in the noughties the idea of filesharing and seeding for downloads was very popular, albeit illegal, while nowadays streaming and sharing services such as Netflix have been the mainstay. Do people really need a service to download to this extent any further? Only time will tell, and improvements in technology and download speeds / capabilities in the future could see a rise is popularity for BTT, but for now, the verdict is bleak.
eCash (XEC) - CoinGeko Number #71
Formerly the coin Bitcoin Cash ABC (BCHA), it has since rebranded in July 2021 as eCash at a redenominated of a 1:1,000,000 ratio. It is a result of the hard fork that occurred in 2020 of Bitcoin Cash. The history of the Bitcoin Cash ABC network is controversial, as BCH itself split away from Bitcoin Core a few years before the BCHA split. The main reason for the BCHA split was because the core developer group wanted to impose an 8% miner tax as incentive for the developers to continue working on the project. After rebranding to eCash, they made plans to integrate the Proof-of-Stake consensus protocol to help speed up the transactions, while also looking at plans for interoperability with the Ethereum Virtual Machine to interact with Ethereum based projects.
It has a circulating supply of 19 Trillion XEC coins and a total supply of 21 Trillion coins.
Currently is has a market cap ranking of 71 and this is backed by its market cap value of $577,186,890.
The current trading price for XEC is $0.00002998, which is down about 92% from its all time high of $0.00038001 on 4th September, 2021.
As per the image below, if XEC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The future for eCash is considered bleak by a lot of analysists, although nothing is certain in crypto. If the team get the integration with EVM successfully achieved, then the sky will be the limit. The pessimism in store for the next couple of years is mainly due to the lack of support from the community at the time when the hardfork happened, but they have maintained themselves in the top 100 coins and the future possible growth depends on various factors such as announcements, new technological solutions of the eCash project, and the crypto space at large. I would not recommend investing ones life savings into the project, but if it can gain further traction there is plenty of space for growth within the project. One to watch.
That's it for Coins / Tokens under $0.01 in the top 100 on Coin Gecko. While their standing may have altered since this was written, these are some of the main players in the crypto space for such minimal prices. There are thousands of others further down the list, and while I will not delve into them, there is certain to be some gems hidden amongst the masses.
*Finally, this is not financial advice and I am not advocating for anybody to invest, or not to invest, in any of the above.*
Have a great day.
Peace. CryptoGod-1.
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