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 $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. I will be doing this instalment in two parts due to the amount of coins / tokens included.
This article was done with the coin value as of the 9th of December 2022 and prices may have varied since then.
You can find the previous part(s) to the series here:
Coins / Tokens under $10 - Part 1
Huobi (HT) - CoinGeko Number #51
Huboi is an ecosystem which uses HT as its native token, which is a decentralized cryptocurrency based on Ethereum. The HT token is used to interact and make use of the ecosystem on the Huboi blockchain. Huboi itself was founded in 2013, providing a digital asset ecosystem that encompasses spot trading, derivatives trading, staking, crypto loans, and crypto yield products. It was created in China and now has offices in Hong Kong, South Korea, Japan and the United States.
It has a circulating supply of 130 Million and a total supply of 500 Million.
Currently is has a market cap ranking of 51 and this is backed by its market cap value of $854,635,340.
The current trading price for HT is $6.53, which is down about 83.6% from its all time high of $39.66 on 12th of May 2021.
As per the image below, if HT managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Some of the more interesting recent developments with Huboi have included the launch of the 2nd round of Huobi PrimeVote. The exchange allowed crypto projects to register and to be in with a chance of winning to become eligible to list their coins on Huobi. They also made sure to arrest any doubts or fears over potential loses thanks to the FTX scandal, ensuring their users the assets are backed up by over 100% and have no eposure or investment in FTX. The sentiment among analysts when looking at HT is quite bullish. Given the recent drop offs in the CEX space thanks to bad management among other things, a gap is beginning to open which will need to be filled. While a lot of people have panicked and removed their coins from any CEX's, in time and especially when the next bull market begins, the need for CEX's will grow once more. It is in this moment that the likes of HT could capitalise the most, and have large growth. Some are predicting over 200% in the best case scenarios and while the short term is looking bearish, the long term investment could reap plenty of rewards.
Lido DAO (LDO) - CoinGeko Number #52
Lido DAO is a liquid staking solution for ETH which is backed by industry-leading staking providers. It allows users to stake their ETH without locking the asset, meaning they can still participate in on-chain activities such as lending. Its aim initially was to resolve the main issue associated with staking ETH for ETH 2.0, which meant users could not access their staked asset, or illiquidity, immovability and accessibility. There is not minimum limit for the amount which can be staked, and stETH is the reward for staking. These tokens can be used the same as ETH, allowing users to earn ETH staking rewards whilst benefiting from access and rewards across decentralised finance products. The LDO token is an Ethereum token granting governance rights in the Lido DAO.
It has a circulating supply of 810 Million and a total supply of 1 Billion.
Currently is has a market cap ranking of 52 and this is backed by its market cap value of $847,615,168.
The current trading price for LDO is $1.05, which is down about 85.6% from its all time high of $7.30 on 20th of August 2021.
As per the image below, if LDO managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Lido saw its price suffer from the FTX news, as there there was a significant drop in daily active addresses (DAA) on Lido DAO after the news broke. Since Lido DAO is the biggest validator on the Ethereum Network, the sharp decline in users and considerable sell offs, it was rocked by the news but has continued on strongly. A bearish long-term trend was observed as bigger fish who were holding a large chunk of LDO tokens were reducing their holdings. However, heading into the new year with Ethereum looking to gain in price, this has a knock on effect on LDO. While the market is still very bearish, the overall sentiment from analysts for LDO is quite neutral, almost evenly balanced between bullish and bearish outlooks. Lido DAO Token is currently trading below the 200-day simple moving average since mid November, but it is expected to rise above this once more in January next year. From there, the overall trend of the market, and performance of Ethereum, could have a huge impact on the direction of LDO. Assuming a bull driven market down the line, it could see LDO once again testing its ATH levels and beyond. Definitely one worth watching in tandem with Ethereum.
KuCoin (KCS) - CoinGeko Number #60
KuCoin is a large cryptocurrency exchange offering the ability to buy, sell, and trade cryptocurrencies which was began by two "tech geeks" back in 2013, mainly after seeing the difficulty for new users on Mt. Gox. They aimed to create a "People's Exchange" that would allow anybody to get involved in crypto with ease. The platform offers margin, futures, and peer-to-peer (P2P) trading, along with lending and staking facilities. The native token, KCS, was introduced in 2017 as a profit-sharing token allowing traders to obtain value out of the exchange. It can give cheaper fees and be used in place of traditional tokens for paying those fees.
It has a circulating supply of 97 Million and a total supply of 145 Million.
Currently is has a market cap ranking of 60 and this is backed by its market cap value of $644,131,502.
The current trading price for KCS is $6.58, which is down about 77% from its all time high of $28.83 on 1st of December 2021.
As per the image below, if KCS managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Another CEX which ensured to move quickly and alleviate its users that the exchange has no exposure or investment in FTX once the collapse began in November. While it has reassured users in terms of its reserves, there has often been murmur of discontent from users of KuCoin, most notably in its Reddit group. To be fair, most of these complaints are in relation to fees associated with futures trading, or orders / stop losses not triggering. The exchange itself has been busy, with a Christmas Carnival ongoing to entice users and pools of prizes to be won. They also have zero fee promotions ongoing which is always welcome at this time of year. In terms of outlook, analysts are predicting a bearish sentiment for the exchange. This is in part due to the bad publicity CEX's have received over the past twelve months, putting a tarnish on their reputations and faith from consumers. While the short term may look bleak, assuming KuCoin can remain solvent and operational there is a lot of optimism to be had for the longer term. When the next bull run begins, assuming it is still one of the leading exchanges, there will be an assumption of large gains to be made on its native coin as more users flock back to the exchanges. Whether or not any government intervention and regulations intervene in-between remains to be seen, but in the long term this could end up being a rewarding investment.
PancakeSwap (CAKE) - CoinGeko Number #61
PancakeSwap is a decentralized exchange built on the BNB Chain (previously BSC and Binance Chain) instead of the generally more popular to use Ethereum blockchain. It enables its users to swap BEP-20 standard tokens easily without the need for a middle man. Focusing heavily on performance, Binance introduced BSC in September 2020 and soon after PancakeSwap was created. It has become a contender for the top spot with its excellent features and popularity, rivalling the likes of Uniswap in terms of popularity albeit on a different chain. As an AMM model it allows users earn by creating liquidity for the multiple pools and receive an LP (liquidity provider) token in return. The CAKE token is the native token of PancakeSwap, and many pools give users rewards in this token, while it can also be staked and swapped on the DEX.
It has a circulating supply of 160 Million and a total supply of 353 Million.
Currently is has a market cap ranking of 61 and this is backed by its market cap value of $643,350,862.
The current trading price for CAKE is $3.96, which is down about 90.9% from its all time high of $43.96 on 30th of April 2021.
As per the image below, if CAKE managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The most recent news surrounding PancakeSwap has been how its price has slide below range, the current price has retested its support and the RSI is showing a reading of below 50 (neutral) on the 4 hour chart, while the OSI also noted a move southward. The CAKE token has been trading just above its support since November and the idea that sellers are dominant is certainly a strong one. The DEX has remained positive, with much of the negativity potentially associated with its native chain of Binance, but CAKE has recently been launched on Aptos with trading pairs to boost the profile of the CAKE token even further. The analysts are predicting a bearish time ahead, as the DEX has struggled to regain anywhere near its ATH. The long term prognosis sees the token pushing back towards those levels in a few years time, but considering the high level of APY available on CAKE pairs and the strength of the DEX overall, it could end up being a very smart trade to acquire CAKE now and stake it to grow ones total amount before selling down the line. Of course that would all depend on the market sentiment, but assuming PancakeSwap remains a leading DEX, there is no reason not to think it could increase in value once the bear market ends and users are back delving into the DeFi space.
Aptos (APT) - CoinGeko Number #62
Aptos Labs is a team of accomplished technical experts who are dedicated to creating a better network tooling with seamless usability, aiming for the overall goal of bringing the benefits of decentralization to the masses. Aptos is a layer 1 blockchain which makes use of the Move programming language. It promises users the capability of increased scalability, reliability, security and usability, with the mainnet "Aptos Autumn" launching on October 17, 2022. The blockchain is based on the Diem blockchain initiative (from Meta) that was recently abandoned, which has increased the hype surrounding it. The APT token is the native token of the Aptos blockchain, which uses Proof-of-Stake (PoS) for its consensus algorithm, and APT can be staked to earn rewards, interact with the ecosytem which includes NFT's and DeFi, and trade between users.
It has a circulating supply of 130 Million and a total supply of 1 Billion.
Currently is has a market cap ranking of 62 and this is backed by its market cap value of $636,895,858.
The current trading price for APT is $4.84, which is down about 64.3% from its all time high of $13.73 on 19th of October 2022.
As per the image below, if APT managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Recently dubbed the Solana killer, Aptos has been making positive headlines of late, with this being the first time since the token's listing that its has ended two weeks in a row with a positive result and growing price. Its level of interest has been surprisingly low, with trading volumes only twice exceeding $140 million when previously such trading volume were only considered minimal for this crypto asset. The number of addresses is growing and the number of daily transactions has stabilized at around 600,000 which is a positive sign in the current market. It managed to break through the resistance of the 200-day moving average back in November and has been testing higher resistance levels since, pushing towards $5. The outlook by analysts is positive, with manging predicting the recent surge to continue. It is expected to break beyond $5.50 before the end of the year and continue its growth in 2023. The long term outlook is very much coencided with the outlook of the overall market, with the expectation of a return to a bull market seeing substantial growth in the value of APT. While it is a newer player in the market, there is a lot of hype and interest around APT. I would consider it something worth taking a closer look at with the potential of investment, with the hopes it can follow a similar trajectory as Facebook did when it began.
Tokenize Xchange (TKX) - CoinGeko Number #69
Tokenize Xchange is a centralized cryptocurrency exchange which is located in Singapore. The Tokenize Crypto Earn program allows users to deposit their cryptocurrencies with the exchange and in return they earn monthly interest on their crypto in the form of TKX, which is the native token of the exchange. The TKX token can be used for payments on the exchange, swapping for other tokens and coins, fees. The Tokenize Xchange aspires to build the next-generation currency exchange that supports established and emerging digital coins and tokens.
It has a circulating supply of 80 Million and a total supply of 100 Million.
Currently is has a market cap ranking of 69 and this is backed by its market cap value of $574,270,562.
The current trading price for TKX is $7.13, which is down about 68% from its all time high of $22.30 on 31st of October 2022.
As per the image below, if TKX managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
As with other CEX's who were initially dragged into turmoil when the FTX crash happened, Tokenize Xchange was amongst those who were impacted by the initial fallout and lack of confidence in CEX's. The analysts have earmarked TKX to recover from the crypto winter and experience steady growth into the next bull market. It could see year on year growth assuming there are no further scandals associated with the crypto space and with CEX's in particular. It could be poised to break new highs in 2023 and continue its upwards trajectory from there, with the potential of growing into one of the main players in the CEX space. It seems like an interesting token to get a hold of if you are a user of the Tokenize Xchange, otherwise I would think there are better options out there to look into.
Gate (GT) - CoinGeko Number #73
Gate Token (GT) is the native token of the Gate.io cryptocurrency exchange, and by holding the token it allows users access to trading discounts, yield earnings through the cryptocurrency exchange platform, along with exclusive access to newly listed tokens on Gate.io. The exchange Gate is one of the largest centralized exchange in the world, which was launched in 2013.
It has a circulating supply of 150 Million and a total supply of 300 Million.
Currently is has a market cap ranking of 73 and this is backed by its market cap value of $521,907,316.
The current trading price for GT is $3.59, which is down about 72.3% from its all time high of $12.94 on 12th of May 2021.
As per the image below, if GT managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
As with other centralized exchanges, Gate moved quickly to assure their users of the security of their funds, and published a Proof of Reserves which gave 100% accountability to the exchange in terms of its assets. The audit process was attached to ensure the public could see the transparency of the exchange. Since then they have been continuing with business as usual, with crypto pairings and learn and earn events taking place. In terms of GT, analysts have put a bearish trend on the token, with many of the exchanges experiencing this. As with the other CEX's, this is due to the lack of confidence in them at the moment, but considering that should return in the next bull market, this could be an interesting token to invest in. Assuming nothing happens to the exchange in the meantime, and especially if you are a frequent user of Gate.io, then GT could be an excellent investment for the long term. Certainly one to keep an eye on.
NEO (NEO) - CoinGeko Number #76
NEO is a blockchain developed to fully digitize assets and identities through smart contracts for the overarching goal of achieving a smart economy. Its functionality provides all the infrastructure a user could require to create completely decentralized applications, while its advanced interoperability allows developers to harness the power of the global blockchain ecosystem. NEO token holders are also the owners of the network and are able to participate in governance. NEO holders receive passive distribution of the network utility token, which is known as GAS, and there is no staking required to earn this.
It has a circulating supply of 71 Million and a total supply of 100 Million.
Currently is has a market cap ranking of 76 and this is backed by its market cap value of $500,470,175.
The current trading price for NEO is $7.05, which is down about 96.4% from its all time high of $198.38 on 15th of January 2018.
As per the image below, if NEO managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
NEO seems like it has been around forever, and regardless of how much China tries to shut down crypto in its nation, NEO will not give up. Quite apt given the name of the crypto and the similarity to the Matrix. Analysts have marked NEO as a coin in decline at the moment, in a current downtrend which does not seem to have abated but with potential for growth over the coming years. It is considered a coin which has never really lived up to its potential, but some do think there will be a moderate uptrend in 2023. This will be nowhere near its previous highs, and seeing as it failed to break its ATH during the bull run of 2021 it would lead many to question the overall long term position of the coin in the crypto market. Assuming it does survive, there could be scope for growth over the longer term, although nobody seems to believe it will reach its ATH of 2018 again. All in all this could be considered a very risky coin to back in my opinion, as it has never matched what it set out to achieve. It would be well worth keeping an eye on NEO but quite the risk to back it.
Arweave (AR) - CoinGeko Number #78
Arweave is a blockchain protocol which facilitates users being able to store date permanently on the network, all for a one off fee. It considers itself a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers the ability to truly store data forever. The protocol seeks to connect users and organizations which need permanent data storage solutions with owners of free hard drive space around the world. With this, Arweave allows users to preserve valuable information including apps, and history, indefinitely. Through this preservation of history, it aims to prevent others from rewriting it and ensuring the truth lives on. It was created in London by Sam Williams and William Jones in July 2017.
It has a circulating supply of 50 Million and a total supply of 64.6 Million.
Currently is has a market cap ranking of 78 and this is backed by its market cap value of $454,485,070.
The current trading price for AR is $9.04, which is down about 89.8% from its all time high of $89.24 on 5th of November 2021.
As per the image below, if AR managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Arweave is looking ahead through the recent dismay of crypto, with the recent announcement of the Permaswap DEX Beta going live on the Arweave blockchain, along with a strong focus on the growth of the ecosystem at large. According to analysts there are good things ahead for Arweave, with the majority seeing a bullish outlook down the line. It has the capability of becoming the leading player in the online storage space, with the potential of emerging from crypto winter with a strong potential of climbing higher up the rankings. It is expected to make minimal growth in 2023, but the longer term predictions forecast at rise towards its previous ATH in 2021. It is certainly one of the more interesting projects in the crypto space at the moment, with the demand for online storage on the blockchain likely to increase over the coming years, and Arweave poised to be a leader in this particular area. Definitely one to watch.
THORChain (RUNE) - CoinGeko Number #86
Thorchain is a decentralised and autonomous cross-chain liquidity network which originally launched on the Cosmos network but transitioned to its mainnet in April 2021. It works as a decentralized liquidity protocol which allows users to swap assets in a permissionless setting. Its primary function is to enable the exchange of native layer-1 assets like BTC by acting as a vault manager. To secure its network, THORChain uses Tendermint and Cosmos-SDK. Its AMM-based protocol provides the backend technology needed to swap cryptocurrencies between blockchains that were previously non-interoperable. RUNE is used as a pairing token that accompanies each asset in the platform’s liquidity pools. As such, RUNE serves as the second token that users deposit in the liquidity pool to execute trades against, driving both its utility and value on the network.
It has a circulating supply of 300 Million and a total supply of 500 Million.
Currently is has a market cap ranking of 86 and this is backed by its market cap value of $427,653,876.
The current trading price for RUNE is $1.41, which is down about 93.2% from its all time high of $20.87 on 19th of May 2021.
As per the image below, if RUNE managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
A recent announcement of the integration of TrustWallet for Thorchain was a big piece of news heading towards the end of the year, as users will be able to make use of cross chain swaps. This could be a major game changer, as it will essentially remove any requirement for bridging, meaning Thorchain could be a go to place for swaps without the need for a CEX. However, he outlook from analysts for RUNE is somewhat mixed for the coming years, with a split between the bears and the bulls. Its sharp fall off since 2021 is in line with the rest of the crypto market, but while other projects are being back as strong contenders to emerge stronger on the other side, the feeling is not the same about RUNE. It is not seen to be hitting anywhere near its previous ATH anytime in the coming years, which of course could all change depending on the wider state of the crypto market. If it can continue integration with a wider base then there is every possibility of growth, and although the analysts are not favouring it, I think RUNE could be a shrewd investment for the long term as a cross chain ecosystem seems a key component in the future of Web3.
BTSE Token (BTSE) - CoinGeko Number #90
The BTSE token, which was launched in 2020, is the native token of the BTSE exchange, and it was designed to augment user experience on the BTSE exchange and within the overall BTSE ecosystem. The BTSE exchange itself is the first exchange which was created and built on Liquid, a Bitcoin sidechain-based settlement network for traders and exchanges. The benefits of this include privacy by blinding transaction amounts and asset types, transactions finalized within three minutes, and its inter-exchange settlement makes it easier to move funds between member exchanges.
It has a circulating supply of 160 Million and a total supply of 200 Million.
Currently is has a market cap ranking of 90 and this is backed by its market cap value of $413,474,569.
The current trading price for BTSE is $2.54, which is down about 72.3% from its all time high of $9.21 on 23rd of March 2022.
As per the image below, if BTSE managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
As with the other CEX exchanges, BTSE was another which had to survive the fallout from the FTX collapse, however as part of the BTSE exchange security they store around 99% of funds in cold storage wallets and the assets are only derived from a highly secure cold storage system which cannot be accessed without multiple access keys, multi-site data redundancy, active firewall protection, and two-factor-authentication with enhanced verifications and HTTPS/SSL encrypted protocols. It all seems very good on that end, however there will always be some doubt hanging around a CEX these days. In terms of projected growth by analysts, there is of course a very bearish trend currently, although there is hope down the line. As with all the CEX's, it is predicted when the crypto winter ends and the bulls return it will bring about the need for user to make use of the exchanges at a higher rate once more. This could fuel a spike in the value of their native tokens, meaning BTSE Token could see a healthy increase as user volume increases. How long this will take and whether or not BTSE will be one of the more trusted CEX's at that point remains to be seen, and therefore I would advise to take caution when considering this token.
EthereumPoW (ETHW) - CoinGeko Number #91
With the Ethereum Foundation shifting to a PoS fork via the famed "merge" a community of Ethereum users, known as ETHW Core, decided to stay with the PoW Ethereum. Therefore ETHW is a native token of a public chain, not an ERC20 token, meaning there is NO contract address for it. It was airdropped at the time of the ETHW hard fork, as any address that held ETH on the Ethereum mainnet before the snapshot will have recieved the equivalent number of ETHW on the EthereumPoW mainnet. ETHW Core tried to make minimal changes to keep the PoW-based Ethereum mining available, with chain sustainability in mind and to ensure the PoW section of Ethereum is continued via this new project.
It has a circulating supply of 107 Million and a total supply of 107 Million.
Currently is has a market cap ranking of 91 and this is backed by its market cap value of $398,211,136.
The current trading price for ETHW is $3.66, which is down about 93.7% from its all time high of $58.54 on 3rd of September 2022.
As per the image below, if ETHW managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Almost three months after the merge and EthereumPoW commands a top 100 crypto market capitalization despite having virtually no DeFi footprint, and very little NFT activity. In late November into early December ETHW saw an increase in real volume from roughly $2 million to over $15 million, although the daily volume has since fallen once again. However the Total Value Locked (TVL) metric for ETHW is not showing positive signs, with it sitting in 100 on that ranking. To its credit it does have more DeFi being built upon the chain than those ranked around it, the ETHW locked in EthereumPoW DeFi protocols has collapsed about 60% in less than one month since the FTX collapse. One of the more alarming things to note is that ETHW is reliant on just two D'apps for 76% of its DeFi activity, while there also isn't any major DEX or pool that has integrated with EthereumPoW as of yet. As of now the NFT market is quite low key and nowhere near its competitiors, meaning all in all EthereumPoW has very little actually being developed on the chain. The outlook from here is a difficult one, with many believing this network is merely a novelty and will not outlast the crypto winter. There is also a chance that an uptick could occur, with more people moving onto the chain and developing on it, leading to an increase in value and function of the network. Whether or not that actually happens or not remains to be seen. For now, given the rate of growth, or lack thereof, after three months it is not looking good for ETHW. Its not something I would recommend, although possibly a more risk adverse trader can see the positives in this blockchain and token.
That's it for Coins / Tokens under $10 Part 2 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 all, 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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