Macroeconomic Policies Driving Bitcoin’s Bullish Surge
Macroeconomic policies in the U.S. and Japan have contributed to bullish movements for Bitcoin. This week, the cryptocurrency saw a price surge following key interest rate decisions by the Federal Reserve and the Bank of Japan. Since the U.S. Fed announced an interest rate cut, Bitcoin has risen over 11%, climbing above $62,000 for the first time in September.
Altcoins Stabilizing Amid Decreased Selling Pressure
Altcoins are also showing signs of stabilization, with a higher low pattern forming. This suggests a decrease in selling pressure. As major price floors become established, altcoins appear to be entering a phase of low-volume, range-bound trading. This could mark the beginning of a slow upward trend for the broader altcoin market.
Given these developments, investors are actively searching for affordable tokens, especially those under $1. Below are six of the best cheap cryptocurrencies to consider investing in right now.
6 Best Cheap Cryptos to Invest In Under 1 Dollar
1. Pyth Network (PYTH)
Pyth Network is working to broaden access to global financial services by leveraging blockchain technology. Its native token, PYTH, plays a vital role in the ecosystem by facilitating transactions, supporting payments, and incentivizing token holders.
One notable innovation within the Pyth Network is Oracle Integrity Staking (OIS), which increases accountability for data providers through staking rewards and penalties. This encourages high-quality, real-time price feeds for decentralized finance (DeFi) applications.
- Price: $0.327726
- 24-Hour Change: +3.37%
- Trading near recent high of $0.335986
2. Arbitrum (ARB)
Arbitrum (ARB) has gained momentum, especially ahead of its upcoming Odyssey event. A new update, Arbitrum Nitro v3.2.0, has been released, focusing on stability improvements for developers and node operators.
ARB is currently trading at $0.621834, reflecting a 3.29% increase over the past 24 hours. The token has experienced 17 out of 30 “green days,” indicating a favorable market environment. Forecasts suggest a potential rise of 229.90% by October 2024.
- Price: $0.621834
- 24-Hour Change: +3.29%
- Forecasted increase: +229.90% by October 2024
3. Bitget Token (BGB)
Bitget Token (BGB) is trading at $0.961215 after a 1.68% intraday rally. The token has experienced a 112% year-to-date increase, outperforming 59% of the top 100 crypto assets.
BGB is trading well above its 200-day simple moving average, signaling a strong upward trend. Short-term forecasts predict a potential 3.94% rise by late October 2024.
- Price: $0.961215
- Intraday Rally: +1.68%
- Year-to-Date Growth: +112%
4. VeChain (VET)
VeChain has secured a U.S. patent for user identity authentication, boosting its prominence in the blockchain space. This patent enhances the security and efficiency of decentralized applications.
Currently trading at $0.02438, VeChain has risen 45% year-to-date. Over the past 30 days, VET has demonstrated strong market confidence with a consistent upward trend.
- Price: $0.02438
- 24-Hour Change: +1.45%
- Year-to-Date Growth: +45%
5. Beam (BEAM)
Beam (BEAM) is priced at $0.01728, reflecting a 3.65% increase in the past 24 hours. The coin has experienced positive momentum throughout the month, with 16 out of 30 “green days.”
Beam’s price volatility suggests a favorable outlook, with projections indicating a potential 49.34% rise by the end of September 2024.
- Price: $0.01728
- 24-Hour Change: +3.65%
- Projected Growth: +49.34% by late September 2024
6. Pepe Unchained ($PEPU)
Pepe Unchained ($PEPU) has raised $14.6 million in its ongoing presale, reflecting rising interest in Pepe-themed cryptocurrencies. Operating on its own blockchain, $PEPU has introduced developer grants to foster innovation within its Layer 2 ecosystem.
The token is currently priced at $0.00983, with the next presale round expected to see a slight price increase. Investors can also participate in staking opportunities, which offer an impressive 143% annual yield (APY).
- Price: $0.00983 (Presale)
- Total Supply: 8 billion tokens
- Staking APY: 143%
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