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 $100. 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 12th 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
Coins / Tokens under $10 - Part 2
Litecoin (LTC) - CoinGeko Number #13
Litecoin is a decentralized peer-to-peer cryptocurrency and open-source software project which was released under the MIT/X11 license, and if Bitcoin is considered crypto gold, then Litecoin is considered crypto silver. It started in October 2011, and it is very similar to Bitcoin bar a slightly modified codebase. It is free from censorship and a decentralised money which can be sent for low cost, private, secure, borderless payments to anyone, anytime, anywhere. It is also the largest global scrypt based network, which has been operating with 100% uptime since it was created and has transacted billions of dollars in value since then. Litecoin also pioneered technologies including Lightning for instant global settlement of funds and Atomic Swaps for cross blockchain trustless trading.
It has a circulating supply of 72 Million and a total supply of 84 Million.
Currently is has a market cap ranking of 13 and this is backed by its market cap value of $5,385,192,668.
The current trading price for LTC is $74.99, which is down about 81.7% from its all time high of $410.26 on 10th of May 2021.
As per the image below, if LTC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
As one of the longest running crypto currencies besides Bitcoin, there is little doubt that Litecoin is here to stay, however the current sentiment in the market is quite bearish. It has an interesting year ahead, as in August 2023 the third halving will take place, reducing the amount of newly minted coins. Currently 12.5 Litecoins are minted every 2.5 minutes or so. After the halving, the 12.5 will be reduced to 6.25 Litecoins, which should help, in the way it has helped Bitcoin, to increase the value due to scarcity. In terms of analysts, the outlook is quite neutral. Currently the market has seen a pullback from its recent highs, but in the year ahead many will expect Litecoin and possibly to market at large to gather traction. It is expected to reach new highs and surpass its previous ATH of May 2021. although when this could happen is unknown. Some believe it could be around the time of the halving or soon after, meaning by the end of 2023 Litecoin could be a very valuable asset. One to watch and what certainly seems like a decent investment for the years ahead.
OKB (OKB) - CoinGeko Number #14
OKB was founded by Jay Hao in 2017 and released by OK Blockchain Foundation. It is a worldwide utility token that enables OKX cryptocurrency exchange users to access several features of the crypto exchange. Specifically, OKB computes and pays trading fees, provides users access to voting and administration on the site, and rewards users for staking it. OKB also aims to link potential digital asset projects to OKX users and professional investors, establishing an OKX ecosystem that fosters the development of blockchain technology and the digital asset sector.
It has a circulating supply of 250 Million and a total supply of 300 Million.
Currently is has a market cap ranking of 14 and this is backed by its market cap value of $5,328,447,861.
The current trading price for OKB is $21.20, which is down about 51.9% from its all time high of $44.01 on 3rd of May 2021.
As per the image below, if OKB managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Some interesting news that emerged recently was that OKX is the only cryptocurrency exchange which Elon Musk follows on Twitter these days. Once this news broke on December 16th, the value of increased by about a dollar, leading many to believe the power of Musk could see an increase for the token. Some are even speculating on Twitter that this could indicates a potential acquisition by the Twitter CEO of the cryptocurrency exchange. Either way it is bringing some positive news for the exchange and its token. The exchange also recently listed the FLOKI coin on the platform, helping to draw in new users interested in this meme coin. All in all, analysts are speculating that OKB could become one of the main players in 2023 and beyond. With so many CEX's suffering towards the end of 2022, this could be an opportune time for OKX to fill the void left behind by the likes of BlockFi and FTX. Definitely one to watch, especially with the Musk rumours associated with the exchange of late.
Solana (SOL) - CoinGeko Number #18
The Solana blockchain was created in 2020 by Anatoly Yakovenko and is a decentralized network validated by thousands of nodes which operate independently of each other to ensure data remains secure and censorship resistant. It has block times of 400 milliseconds and claims that as hardware gets faster, so will the network. Solana was created to handle thousands of transactions per second while ensuring the trading fees for both developers and users remain less than $0.01. This is achieved by using a proof of stake network and other innovations which end up minimizing the overall impact of the network on the environment. The Solana ecosystem is capable of handling DeFi, NFT's, blockchain gaming, and has a number of D'apps developed which allow users to maximise their use of the blockchain. SOL is the native token of the network which is used to interact with the variety of D'apps on the blockchain.
It has a circulating supply of 370 Million and a total supply of 536 Million.
Currently is has a market cap ranking of 18 and this is backed by its market cap value of $4,858,649,072.
The current trading price for SOL is $13.23, which is down about 94.9% from its all time high of $259.96 on 6th of November 2021.
As per the image below, if SOL managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
It has been a mixed year for Solana in many ways, with network downtime becoming a major issue along with an excellent growth in its NFT and DeFi sector. Apparently the active developers making use of Solana has declined by over 90% from around 2,500 recorded in January to 75 developers in December 2022. This is a huge drop off for what was once dubbed the Ethereum killer, although developers within the Solana ecosystem have hit back and called the numbers garbage. SOL was also Alameda’s second biggest investment, meaning the fallout from the FTX collapse has not helped SOL either. All in all, analysts are not that hopeful on the network, although they have not completely written it off as bearish either. They short term view is that SOL has a lot of work to do to regain its position following the impact from the recent scandals. The recency of their network outages is also not helping their reputation, but with upgrades planned down the line there could be valuable things ahead. Short term it does not look like a strong choice for investment, however, it has lasted this long through all the scandals and has enough of a following that it could emerge in a strong position from this crypto winter. While I would not consider it the best opportunity out there, it could see strong growth in the years ahead with new projects being developed on its Network and the potential for a surge of users if the network outages get eliminated.
Avalanche (AVAX) - CoinGeko Number #20
Avalanche is a decentralized, open-source proof of stake blockchain which is considered as the fastest smart contracts platform in the industry. This is proven by the measurement of time-to-finality. Avalanche is a fast and low cost platform which also prides itself on being eco-friendly. It was created in September 2020 by Ava Labs and allows Ethereum dApps to be launched which can confirm transactions instantly while processing thousands of transactions per second. Developers can deploy their own blockchains which fit the needs of their own applications, while dictating exactly how their blockchain should operate. AVAX is the native token of the blockchain and users interact with the blockchain by using AVAX. Users can also stake or lock up their AVAX, which helps to process the transactions on the network while providing a further level of security to the platform.
It has a circulating supply of 310 Million and a total supply of 416 Million.
Currently is has a market cap ranking of 20 and this is backed by its market cap value of $4,007,874,304.
The current trading price for AVAX is $12.87, which is down about 91.1% from its all time high of $144.96 on 21st of November 2021.
As per the image below, if AVAX managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Avalanche noted in its most recent update that it experienced positive growth in transaction count, with the network’s monthly transactions peaking above 68 million in October 2022. It is in contrast with the token AVAX's growth, although that can be attributed to the overall state of the crypto market. AVAX’s weighted sentiment also experienced a noteworthy surge in the last week of November, meaning the overall sentiment of the token is one of a bullish nature. This was thanks to an improved demand, especially from the derivatives market. Low whale participation has also resulted in a weak bullish recovery, but the analysts believe that once participation increases this could result in strong growth for AVAX. The longterm growth will of course depend on the overall market, and while some analysts believe the token will not surpass its ATH in the next decade, I would be more bullish than that. There is a lot happening on the Avalanche ecosystem and post crypto winter it should be poised to make some big moves in the crypto and Web3 space. Certainly one to watch with keen interest.
Ethereum Classic (ETC) - CoinGeko Number #27
Ethereum was launched in 2015 and both Ethereum Classic and Ethereum were a part of the one chain, but in 2016 a controversy called TheDAO provoked Ethereum to split away from the mainnet. They are now two separated networks and ETC has followed a very conservative philosophy of high security called "Code is Law" ever since. It is also a Proof of Work blockchain compared to the Proof of Stake from Ethereum, and ETC accepts blocks for new transactions every 15 seconds to move tokens from one account to another. ETC is the native token of the blockchain, and developers and users can create smart contracts and D'apps, allowing for a variety of development on the blockchain.
It has a circulating supply of 140 Million and a total supply of 211 Million.
Currently is has a market cap ranking of 27 and this is backed by its market cap value of $2,545,513,316.
The current trading price for ETC is $18.38, which is down about 89% from its all time high of $167.09 on 6th of May 2021.
As per the image below, if ETC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
After a surge in price in May 2021, which many attributed to new users entering the market and mistaking ETC for ETH due to its lower price, Ethereum Classic has gone on a downwards spiral ever since. They were hit hard post the merge, after expectations that Ethereum miners would shift to the proof of work ETC network which would result in better security and greater awareness had led to a brief surge token price. That didn't last long though, as the value dropped and has since plummeted along with the rest of the market following the FTX collapse. ETC has been around long enough now to be considered a main player in the space, albeit not to the levels of Ethereum or Bitcoin. As for its outlook, analysts see a bearish future ahead for the coin. The coin is in a dip currently, having seen losses in value over the last week which is expected to continue through till the end of the year. For the years ahead they do not foresee the coin growing back towards its ATH price anytime soon, with some predicting it could take until 2030 to see similar levels in value again. Of course it all depends on the overall market, and if you are looking for a short term gain then ETC could be a smart investment due to its low price but high level in the crypto rankings. Either way, it is a solid project that wont be disappearing anytime soon, but my feeling is there may be better options out there.
Bitcoin SV (BSV) - CoinGeko Number #45
Bitcoin SV is a hard fork of the Bitcoin Cash (BCH) chain which took place in 2018. The original fork of BCH took place in 2017 to increase the transaction speed and overall transaction throughput of Bitcoin. BSV looked to take this further, creating its own fork named BSV. Its underlying aim is to become a more technologically advanced continuation of the original Bitcoin protocol, which will focus on increasing network transaction speeds and enabling drastically increased scalability. Bitcoin SV stands for “Bitcoin Satoshi Vision” in honour of Bitcoin's creator, and was created by Craig Wright, who himelf claims to be Satoshi Nakamoto.
It has a circulating supply of 19 Million and a total supply of 21 Million.
Currently is has a market cap ranking of 45 and this is backed by its market cap value of $888,190,185.
The current trading price for BSV is $46.06, which is down about 90.6% from its all time high of $489.75 on 16th of April 2021.
As per the image below, if BSV 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 news being brought to light in terms of BSV has been the adoption of its use of late. They have stated companies such as Haste Arcade, VXPASS, Codugh, Unisoft, and Predict Ecology are just some of those making use of the crypto currency. This is all positive news of course, ensuring there are use cases for the crypto. However, it should also be noted each of these are all companies primarily based and focused on blockchain technologies in some form or another. The wider adoption is still a long way away yet. The analysts are quite neutral on BSV, just slightly leaning towards the bearish side. They have hopes in the longer term for its growth, although it is some way away as of yet. In the next decade they can see BSV reaching its ATH and surpassing it, however a cavaet which should be included is the fact a lot of this will depend on the overall market. While Craig Wright has generated a lot of media attention through his claims of being Satoshi, this could turn negative down the line if the real Satoshi does in fact reveal themselves. We will never know for sure until then, so for now while it is far from the worst project around, I would not be pinning my hopes on BSV.
Aave (AAVE) - CoinGeko Number #49
Aave is a liquidity protocol which allows users to earn interest, borrow assets, and create applications. It was deployed on the Ethereum network in early 2020 where it has its largest list of assets. Aave is also available on Avalanche, Polygon, AMM, Optimism, Arbitrum, and other L1 / L2 blockchains. As Aave is a decentralized non-custodial liquidity protocol which allows users to participate as depositors or borrowers to ensure the function of the protocol. Depositors provide liquidity to the market and in return they earn a passive income. Similarly, borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion. The AAVE token is the native token of the protocol, and depositors often deposit the AAVE token alongside their other tokens in a liquidity pool, which earns rewards in AAVE. The smart contracts on Aave allows users to interact with specialised things such as Flash Loans.
It has a circulating supply of 14 Million and a total supply of 16b Million.
Currently is has a market cap ranking of 49 and this is backed by its market cap value of $852,254,248.
The current trading price for AAVE is $59.97, which is down about 90.9% from its all time high of $661.69 on 18th of March 2021.
As per the image below, if AAVE managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Probably some of the bigger news to emerge from AAVE towards the end of the year was how they, along with Compound, decided to implement new safety measures follow the market crash due to FTX, BlockFi, etc. The turmoil in the crypto markets ensured that they had to act and AAVE executed a proposal to freeze the markets for 17 different assets in the Aave V2 lending pool on the Ethereum network back in late November. These are as much to ensure no short squeezes can happen on the protocol as much as anything, with too much FUD in the current market. As for the price of AAVE, analysts have a neutral leaning towards bullish opinion on the token. While the market is down, and AAVE has seen its price slashed from its ATH in 2021, its been showing bearish signs this week meaning now could be a good time to invest if you are thinking of buying Aave. While the longer term outlook for AAVE is positive, the short term could also be bright. Its expected to emerge into 2023 with a strong force and push towards higher prices. This could see any investment now worth more 12 months down the line, let alone a few years down the line and once the bear market ends. While nothing is guaranteed, I feel AAVE is a strong protocol and force in the DeFi space, and if you believe in the value of DeFi, then investing in AAVE could be a profitable investment. One to watch and worth considering.
Zcash (ZEC) - CoinGeko Number #62
Zcash was created and launched by a group of technical creators including Matthew Green, Ian Miers and Christina Garman from Johns Hopkins University. Back in 2013 they came up with Zerocoin, a proposed privacy extension to Bitcoin. The indecisive community reception of the cryptocurrency and a desire to move quickly prompted them to recruit additional scientists to build a standalone protocol which became Zcash. It is a cryptocurrency aimed at using cryptography to provide enhanced privacy for its users compared to other cryptocurrencies such as Bitcoin, and was the first cryptocurrency to make use of zk-SNARKs. This is a novel form of zero-knowledge cryptography that gives its users the strongest privacy available in any digital currency. Zcash claims to be the "https" of blockchains, protecting peoples freedom to save and spend as they wish. In 2019 they rebranded as the Electric Coin Company, or ECC.
It has a circulating supply of 13 Million and a total supply of 21 Million.
Currently is has a market cap ranking of 62 and this is backed by its market cap value of $603,156,303.
The current trading price for ZEC is $46.15, which is down about 98.5% from its all time high of $3,191.93 on 29th of October 2016.
As per the image below, if ZEC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The biggest development of note with Zcash and ECC was back in June 2022, when they moved to the Halo proving system, facilitating trustless digital cash payments on mobile phones as part of their Network Upgrade 5. It was the first major upgrade to the Zcash privacy coin network since November 2020, and would mean users could automatically route any ZEC received at a unified address to the latest shielded pool. Positive signs for the coin, which had seemed almost dormant in terms of its updates over the years. Since then, it has been impacted like the rest of the crypto market by the likes of the FTX collapse and the general FUD surrounding the market. However, it retained its place in the top 100 coins and is looking to build itself up once more. Will it ever reach its previous ATH from 2016? Its unlikely to happen anytime soon, and the analysts see nothing but bearish sentiment in its short and long term future. The coin has had a massive drop off from being in the thousands in 2016, and the fact its high point in 2021 was about 1/10th of this, around the $300 mark says a lot about it. While it could be a good investment to make a healthy return from, anybody expecting it to regain its ATH price should think twice before investing.
Dash (DASH) - CoinGeko Number #73
Created on the 18th January 2014, DASH is one of the longest serving cryptos in the market and was created by software developer Evan Duffield. Originally it was named XCoin, before rebranding to Darkcoin due to its use on the dark web, before finally becoming DASH in 2015. Its primary aim is to provide a user-friendly experience and privacy equal to cash while enabling fast and secure transactions to anywhere in the world. It is a proof of work algorithm which was designed to allow transactions quickly and to have a swift governance structure in order to overcome shortfalls in Bitcoin. There is also a DAO which handles the governance of the coin, and 10% of the miners reward goes to the DAO along with 45% to miners and 45% to masternodes. One of the more interesting things about DASH is that it does not have a halving, instead the block reward is reduced by 7.14% every 210240 blocks. Considering the Dash block time is roughly 2.5 minutes, this means that the average block reduction happens every 365 days.
It has a circulating supply of 11 Million and a total supply of 18.9 Million.
Currently is has a market cap ranking of 73 and this is backed by its market cap value of $539,399,029.
The current trading price for DASH is $48.82, which is down about 96.7% from its all time high of $1,493.59 on 20th of December 2017.
As per the image below, if DASH managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The latest news regarding DASH was the update to the iOS wallet, meaning all iOS users can search for and find nearby merchants that accept Dash as payment while they can also discover nearby ATMs to easily buy and sell Dash. It is a positive step for DASH as the longterm crypto continues on its trajectory of being one of the main names in crypto. The analysts have a mixed view on DASH, with nobody considering it a write off but at the same time many being hesitant on giving it a bullish outlook. One thing they are all agreed on is the former ATH of 2017 will likely not be reached again anytime in the next decade. Of course the overall market conditions will have an impact on this, but that does not mean one should shy away from DASH. It should see some solid and steady growth over the next couple of years could make it a smart investment, along with being a steady and reliable means of completing transactions. All in all it is certainly one of the OGs of crypto and a project worth keeping an eye on.
Gmx (GMX) - CoinGeko Number #77
GMX is a decentralized spot and perpetual exchange that supports low swap fees and zero price impact trades. As an AMM model it solves the main limitations of the order book model and allows trading in a unique multi-asset pool that earns liquidity fees from market making, swap fees and leverage trading. It makes use of Chainlink Oracles to create dynamic pricing and an aggregate of prices from leading volume exchanges. The AMM works on the Arbitrum Layer 2 protocol, and Avalanche blockchain. Roughly around three-quarters of the trading activity transpires on Arbitrum, with the remainder happening on Avalanche. The GMX token is used on the exchange for governance and staking purposes and began trading in September 2021.
It has a circulating supply of 8.3 Million and a total supply of 8.31 Million.
Currently is has a market cap ranking of 77 and this is backed by its market cap value of $483,494,069.
The current trading price for GMX is $58.54, which is down about 6.2% from its all time high of $62.10 on 16th of January 2022.
As per the image below, if GMX managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
This has been an interesting couple of weeks for GMX and DeFi, as the token rallied back towards its previous ATH high price from early 2022. The fallout from the FTX crash so many user flocking to DeFi to store their coins and make use of the protocols, meaning an increase in fees for the DEX's. This of course helped to push up their value and token prices, and on the 28th of November GMX earned about $1.15 million in daily trading fees, which surpassed Uniswap’s $1.06 million in trading fees on the same day. Being one of the few cryptos to be so close to its previous ATH price could also be deceiving, as it was only in January 2022 when that was achieved, compared to many who hit their ATH during the rally in May 2021. Analysts have a bearish outlook for the GMX token, having seen it drop in value about 20% over the previous week. This could be seen as a dip and making it worth investing in now, however they do not think the bad times are over. Many project the token to remain down over the coming year, with an increase in value expected down the line. Of course there is no guarantee and DeFi can always emerge and surprise us with a strong market move. The main thin to take into account with GMX is that it still lags behind main players like Uniswap in terms of trading volume, so there may be better investments out there in the DeFi space. All in all it is still an interesting token and one worth looking into for potential gains down the line.
Rocket Pool (RPL) - CoinGeko Number #93
Founded in 2016 by David Rugendyk after he realised the pivot from a Proof-of-Work to a Proof-of-Stake consensus mechanism for Ethereum, Rocket Pool is a an Ethereum 2.0 staking pool. The protocol aims to reduce the capital and the hardware requirements for users staking on ETH 2.0, which in turn adds to the decentralization and security of the Ethereum blockchain. This is achieved by allowing users to stake trustlessly towards a network of node operators. With their Ethereum staked towards node operators, users receive rETH in return, a liquid ERC-20 token which represents 1 staked ETH that is also yield-bearing. Once they leave their ETH assets staked towards Rocket Pool node operators, users can do as they wish with their rETH, including interacting with other DeFi protocols.
It has a circulating supply of 19 Million and a total supply of 19 Million.
Currently is has a market cap ranking of 93 and this is backed by its market cap value of $373,420,555.
The current trading price for RPL is $19.74, which is down about 66.9% from its all time high of $59.46 on 9th of November 2021.
As per the image below, if RPL managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
The big news on the horizon for Rocket Pool is their Red Stone update with the beta released for testing on the Ropsten and Prater test networks. One of the most interesting aspects of the update is that it no longer uses any form of Proof-of-Work, instead validators on Ropsten are now responsible for creating and proposing blocks on both chains, meaning changes to the way validators operate. With it also comes an updated rewards system, which is expected to cost less gas in terms of claiming rewards along with when node operaters can claim their rewards. All in all these seem like interesting and positive updates for the project, and having celebrated their 1 year anniversary in November, basically around the same time FTX started to collapse, RPL will be looking to kickstart into the new year and beyond. The outlook from analysts is positive in the longterm, with many projecting prices beyond the existing ATH after a few years. Of course this will all depend on the state of the wider market, but it seems like RPL could be a token and project worth looking into and investing, assuming you are not already staking with them for their rewards.
OKT (OKC) - CoinGeko Number #94
Okcoin is an EVM & IBC compatible L1 blockchain network built on Cosmos and one of the largest cryptocurrency exchanges in the world. The platform was established in 2013 in China by Star Xu. It is currently based in San Francisco, and prides itself on its aim for optimal interoperability and performance. It native token is the OKC coin which can be used to interact with the protocol.
It has a circulating supply of 17.8 Million and a total supply of17.8 Million.
Currently is has a market cap ranking of 94 and this is backed by its market cap value of $371,700,999X.
The current trading price for OKC is $20.90, which is down about 91.7% from its all time high of $250.53 on 10th of May 2021.
As per the image below, if OKC managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
As mentioned above, there has been some positive news circulating regarding the OKX exchange which involves Elon Musk. While this is seen as positive light for the exchange, it should be noted there was some unwanted news on the 19th of December as the exchange had to suspend withdrawals due to its cloud infrastructure provider Alibaba announced a major hardware failure in Alibaba Cloud’s Hong Kong data center. That has since been resolved, but showed an ominous sign for the exchange. Barring any more failures, the exchange and its associated token, OKT, should be looking forward to an exciting 2023. It is been given positive light by analysts, with many noting how the exchange and its token registered multiple rallies after receiving support from Musk. Assuming this continues into the new year and beyond, we could see OKX filling to space in the market left by recent CEX collapses, leading to massive growth in the exchange and its tokens.
Ethereum Name Service (ENS) - CoinGeko Number #97
Ethereum naming service is a protocol which began in 2017 and provides decentralised names for wallets, websites and more aspects of Web3. People can own their username, store their NFT avatar and other profile data within the decentralised name, and use it across multiple Web3 services. It can be used in place of a wallet address, which saves users needing to copy and paste long addresses. Therefore users can receive crypto tokens sent straight to their ENS, and it is also possible to get a domain name from ENS to use as a website domain. These are censorship-resistant decentralised websites and can be accessed with the name .ETH, although it is also possible to use ENS with DNS names people already own., such as .com, .org, .io, .app, .xyz, and .art. The names themselves are NFTs and users are able to trade them on marketplaces such as Opensea.
It has a circulating supply of 26 Million and a total supply of 100 Million.
Currently is has a market cap ranking of 97 and this is backed by its market cap value of $339,317,349.
The current trading price for ENS is $13.19, which is down about 84.2% from its all time high of $83.40 on 11th of November 2021.
As per the image below, if ENS managed to increase to a market cap at the same level as Bitcoin or Ethereum, it would be worth:
Verdict:
Back in September 2022 the number of newly-registered Ethereum Name Service (ENS) addresses reached a monthly all-time high of 427,325, which was contrary to the fact NFTs sales and volume had fallen roughly 97% since January. It showed strong signs of adoption for ENS, as many consider it the key / gateway for users into NFTs, Crypto, and the Metaverse. Of course with the downturn in crypto and the FUD surrounding the space, it is understandable how people are nervous about investing more into the space. However, ENS seems like a winner. While there are other similar services available, such as unstoppable domains, ENS has a strong connection and link due to its .eth name and this could be critical in making it stand above the other name providers. Well-known brand names are also hot property, meaning the potential for users to invest in names now which they think could be worth more down the line. All in all it is an interesting project and the token ENS can only grow in time according to analysts. They can foresee the token rising above its previous ATH in the next bull market, especially as users flock back into the space and more projects emerge to draw users in. This is likely to go hand in hand with potential newfound users for NFTs and more people adoption to the simplicity of Web3. All in all it is a positive outlook for ENS and one to investigate more if you are serious about crypto. Nothing is a safe bet, but ENS seems like a project set to emerge on an upwards trajectory post crypto winter.
That's it for Coins / Tokens under $100 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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