Good day everybody,
Welcome to CryptoGod-1's blog on all things crypto. Today I will be continuing the series where I take an in-depth look at a select number of Coins / Tokens, this time under $0.10. 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 done with the coin value as of the 3rd of December 2022 and prices may have varied since then.
You can find the previous part(s) to the series here:
Tron (TRX) - CoinGeko Number #17
Tron is a blockchain-based decentralized operating system which works in a similar manner to Ethereum, as it aims to advance the decentralization of the Internet and its infrastructure. Tron’s initial focus was primarily on distributed content sharing and entertainment as the network operates with the speed of about 2000 transactions per second, which is more suitable for content sharing. Tron is a smart contract platform that offers high throughput, high scalability, and high availability for all Decentralized Applications (DApps) in the TRON ecosystem. It was created by Tron Foundation, a Singapore based organization that is currently headed by Justin Sun. TRX is the main currency on the Tron chain, used to purchase energy or bandwidth, for staking and voting.
It has a circulating supply of 92 Billion TRX coins and a total supply of 92.1 Billion.
Currently is has a market cap ranking of 17 and this is backed by its market cap value of $4,985,437,922.
The current trading price for TRX is $0.054104, which is down about 76.6% from its all time high of $0.231673 on 5th January, 2018.
As per the image below, if TRX managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The general consensus on the Tron network is that it is likely to face a long-term downtrend in its overall price. Some analysts have predicted it to fall as much as 70% in 2023, which would be a further major fall from the highs of 2018. The public founder of Tron, Justin Sun, has generally not been perceived in a positive light in crypto communities such as Reddit, although this has not stopped the project from continuing on its journey. All in all the overall trend of the market will have a big impact on the future of Tron, but it likely will not be the project to give a 100x that people are searching for in the crypto space. Invest with caution.
Hedera (HBAR) - CoinGeko Number #37
Hedera is a decentralized public network instead of a blockchain, making use of directed acyclic graph (hashgraph technology) where developers are able to build secure, fair applications with near real-time consensus. The platform is owned and governed by a council of global innovators including Avery Dennison, Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, LG Electronics, Magalu, Nomura, Swirlds, Tata Communications, University College London (UCL), Wipro, and Zain Group.
The Hedera Consensus Service (HCS) acts as a trust layer for any of the application or permissioned network, allowing for the creation of an immutable and verifiable log of messages. Application messages are submitted to the Hedera network for consensus, given a trusted timestamp, and fairly ordered. This means the HCS can be used to track assets across a supply chain, create auditable logs of events in an advertising platform, or even be used as a decentralized ordering service. HBAR is used as as a fuel for transactions and as a means for securing the network through staking.
It has a circulating supply of 25 Billion HBAR Coins and a total supply of 50 Billion.
Currently is has a market cap ranking of 37 and this is backed by its market cap value of $1,204,250,212.
The current trading price for HBAR is $0.04838950, which is down about 91.5% from its all time high of $0.569229 on 15th September 2021.
As per the image below, if HBAR managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Th outlook seems very positive for HBAR, with the majority of analysts predicting increases to the price down the line. The idea behind HBAR, and the group invested within it, would give the view that HBAR is a solid and reputable project. Added to the its use of hashgraph technology, which is apparently greener than traditional blockchains, the project is poised for a large take off down the line. Hedera’s mission is to provide enterprise-grade, scalable network infrastructure for Dapps, with use cases ranging from fraud prevention to gaming, so this space is almost unlimited for the project. Therefore it is a project I would certainly recommend and suggest people to check out, and watch as it grows. Certainly one of the better projects to look at in my opinion.
Chain (XCN) - CoinGeko Number #52
Chain Token (XCN) is an Ethereum-based token governance and utility token for the Chain Protocol designed to vote on protocol improvements and various community driven programs. XCN is also utilized for discounts, premium access, a payment method for commercial fees on Sequence and other Chain ecosystem products. Users can also stake XCN to secure the protocol and earn rewards, while the token can be used for discounts on the software services along with being a payment method for transactions. Chain is a infrastructure platform that puts accessibility to creating smart contracts and Web3 scalability first. It is also a digital asset and a payment system created to provide users with a fast, secure, and efficient way to send and receive payments. In addition, Chain offers users the ability to create their own assets that can represent any type of value. For example, you could create an asset that represents a share in a company or a piece of art.
It has a circulating supply of 21 Billion XCN coins and a total supply of 53.5 Billion.
Currently is has a market cap ranking of 52 and this is backed by its market cap value of $860,701,148.
The current trading price for XCN is $0.04005954, which is down about 78.2% from its all time high of $0.184139 on 27th May, 2022.
As per the image below, if XCN managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Given that scarcity often leads to price growth, the value of Chain is expected to rise further and it has been making headlines recently because of its rapid price appreciation. It has very favourable forecasts amongst analysts, with big growth potential seen for the token. For traders who like to employ a high level of risk tolerance along with their sound financial standing, XCN may turn out to be a great and profitable investment. Although it is very much a speculative token, Chain (XCN) exposes its users to an ever expanding ecosystem and worldwide technology. Definitely one to watch and a potential good investment for those who are willing to take the risk.
cUSDC (CUSDC) - CoinGeko Number #70
This is a record of the USDC a user has deposited into the Compound Protocol. When a user deposits USDC, they are given the native corresponding cUSDC tokens. Anyone who holds cUSDC or any other cTokens earn the prevailing market interest rate for those tokens. Over time, each cToken becomes convertible into an increasing amount of its underlying asset USDC, for example. Interest payments are not remitted to depositors but are expressed via the exchange rates, while at the same time, the number of cTokens in your wallet stays the same.
It has a circulating supply of 26 Billion CUSDC coins and a total supply of 25.5 Billion.
Currently is has a market cap ranking of 70 and this is backed by its market cap value of $578,468,147.
The current trading price for CUSDC is $0.02268150, which is down about 61.4% from its all time high of $0.058843 on 21st October, 2020.
As per the image below, if CUSDC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The long-term outlook for cUSDC is that the token will have major growth, with the more users getting on board the greater the long term potential of the price. Although there is no certainty in crypto, and I certainly would not call this one, the fact Compound is a well established player in the crypto space adds to the feeling of security around this token. Of course users will be weary after the recent destruction caused by FTX, but if people are confident in the Compound system then cUSDC could be an excellent token for them to invest in. Their USDC will (should) remain at its same value if they do decide to swap their tokens back down the line, meaning the greatest problem a user faces when deciding to use cUSDC or Compound is having trust in the protocol.
The Graph (GRT) - CoinGeko Number #77
Founded in 2018, The Graph is a protocol for fast, secure, and reliable data querying from blockchains such as Ethereum, IPFS, and POA. The open APIs, called subgraphs are able to be built and published by anyone. The Graph allows combining Web3 protocols which means the developers can design dApps with more powerful features along with powering many Defi and Web3 ecosystem projects that can use GraphQL. The project has a hosted service that simplifies the process of creating and releasing the Apps. Thanks to The Graph, over 3000 subgraphs were already published by thousands of developers.
It has a circulating supply of 7.4 Billion GRT coins and a total supply of 10 Billion.
Currently is has a market cap ranking of 77 and this is backed by its market cap value of $481,651,209.
The current trading price for GRT is $0.065088, which is down about 97.7% from its all time high of $2.84 on 12th February, 2021.
As per the image below, if GRT managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
It has been a tough time for The Graph since its ATH in early 2021, with the project tumbling in price since then. Many analysts have predicted it to fall further over the coming years and decade, which I believe it will in part. However, I think that it will fall purely due to the economics of the market and not because it is not a worthwhile project. While some see it as having large falls over the coming years, I can see The Graph reassuming a strong position within the market due to its fast, secure, and reliable protocol. It likely will not reach large figures in value, but long term it could end up being a smart investment with decent returns due to the promising ability of the project. One to watch.
cDAI (CDAI) - CoinGeko Number #85
Similar to cUSDC, cDAI is the compound equivalent for the DAI token. It is one of many token which Compound has created and works in the same function as cUSDC, with Ether being another one. The ratio of cDAI to Dai is approximately 50 cDAI to every Dai on the platform, which does a good job at keeping the price of cDAI at a relatively steady price. In the long term the value of this will decrease, meaning one DAI will only give a user 40 cDAI, and so on so forth. The main use for cDai has become placing it into a liquidity pool on Uniswap. This allows the user to collect interest from the liquidity pool in addition to gaining some appreciation on the value of cDai due to the very nature of cDai, while it can also be considered one of the safer ways to earn some interest without worrying about losing value on the cryptocurrency itself.
It has a circulating supply of 19 Billion CDAI coins and a total supply of 19.4 Billion.
Currently is has a market cap ranking of 85 and this is backed by its market cap value of $428,633,294.
The current trading price for cDAI is $0.02210975, which is down about 30% from its all time high of $0.03159087 on 12th October, 2020.
As per the image below, if cDAI managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
From revieing the thoughts of analysts, the overall outlook for cDAI is a mixed one. Many do not see it as a strong investment for the medium term, the next 1 - 3 years, while others see it as a potential strong earner over the longer term. It had its spike along with the rest of the market during the previous bull run, which would have seen nice returns on investment for holders at the time. In the coming years the rising tendency of users would signify a popularity and trust within the protocol and token, which will lead to greater prices in the longer term.
Radix (XRD) - CoinGeko Number #92
Radix has focused on one vision for the last 9 years, how to deliver on the promise of Web3 while making Satoshi proud. They understand the host of problems including scalability, poor UX, and hacks plaguing smart contract platforms along DeFi protocols. They aim to reduce and remove this threat, and consider themselves a way of fixing the broken issues with Web3, becoming the future of decentralized finance applications. These DeFi applications are currently being built on protocols that were not designed to meet the needs and requirements of DeFi services, meaning Radix is using their significant technology innovations to be the first layer 1 protocol specifically built to serve the rapidly growing DeFi industry.
It has a circulating supply of 10 Billion XRD coins and a total supply of 12.4 Billion.
Currently is has a market cap ranking of 92 and this is backed by its market cap value of $363,047,437.
The current trading price for XRD is $0.03601920, which is down about 94.4% from its all time high of $0.651264 on 14th November, 2021.
As per the image below, if XRD managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Longterm the outlook is bright for Radix, with many predicting growth for the project and coin over the coming years. It is hosting its RadixFi event on December the 8th, which should give user and viewers an inside look into the upcoming developments of the project. Due to the growing popularity of the project I feel it will have good times ahead, with the outlook for the price likely to match its growth in the space. Investing in XRD would be one of the smarter coins out there, with their aim to provide safe and secure DeFi services a demanding need for the space and assuming they can deliver on a large scale, it could be the game changer crypto is begging for.
Zilliqa (ZIL) - CoinGeko Number #96
Zilliqa is a smart-contract blockchain platform which was initially designed to scale thousands of transactions per second, and later moved to improve blockchains' scalability and speed by making use of sharding as a second layer scaling solution. The long term vision of the project is to move towards Web3 with its technological advancements, having been initially created in 2017 and gone live in March 2018 while in June 2019 the mainnet was launched. The network utilizes the proof-of-work mechanism to assign node identities and generate shards. The smart contracts are also written and created in the projects own language, called Scilla, which helps guarantee the safety of smart contracts. It also has plans for its own Metaverse called Metapolis. ZIL is a native token of the Zilliqa blockchain, and while it was first launched as an ERC-20 token, in 2019 when Zilliqa went live on the mainnet all the tokens were transferred there during the token swap event that concluded in February 2020.
It has a circulating supply of 15 Billion ZIL coins and a total supply of 21 Billion.
Currently is has a market cap ranking of 96 and this is backed by its market cap value of $349,152,434.
The current trading price for ZIL is $0.02304643, which is down about 91% from its all time high of $0.255376 on 6th May, 2021.
As per the image below, if ZIL managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The outlook for ZIL seems very positive, with many analysts predicting a short term drop before a larger return a few years down the line. While the crypto space can take off at any moment, ZIL seems like a worthwhile project to follow. Its aims of developing into the multiverse are likely to bring higher traction to the project, and the project could be looking to surpass its ATH in the next bull run. The project is producing millions of transactions a month with daily blocks surpassing 2500, as the overall scaling and growth of the project could easily match its price down the line. Certainly one to watch with many positives things to come for ZIL.
That's it for Coins / Tokens under $0.10 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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