5 Undervalued Altcoins To Buy When Diversifying $1000 Crypto Portfolio

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Five cryptocurrencies currently drawing attention in the booming market are Hedera (HBAR), Polygon (MATIC), Sei (SEI), Fantom (FTM), and Beam (BEAM). All five provide unique features and are making waves in the industry, making them attractive options for investors seeking to invest $1,000.

1. Hedera (HBAR)

The eco-friendly Hedera network’s main currency, Hedera (HBAR), serves several essential functions. It processes transaction fees and keeps the network secure through a proof-of-stake system. The total quantity of HBAR coins is capped at 50 billion, making them available on numerous trading platforms.

HBAR’s value significantly increased by more than 25% within a day following recent recognition from BlackRock. This surge underscores its potential worth as a valuable selection for an investment portfolio, particularly one dedicated to underestimated altcoins with a $1000 budget.

5 Undervalued Altcoins To Buy When Diversifying $1000 Crypto Portfolio

Over the past week, Hedera’s price has surged by 62%, currently sitting at $0.1258. In the last month, this cryptocurrency experienced a gain of 16%. With a market cap of $4.49 billion, Hedera is now ranked 24th on CoinMarketCap.

2. Polygon (MATIC)

Polygon (MATIC) serves as a crucial link between Ethereum and other blockchain networks, enhancing Ethereum’s capabilities by adding several interconnected sidechains. This setup not only improves Ethereum’s scalability but also reduces transaction fees for its users.

In the last seven days, the price of MATIC has risen by 8%, currently valued at $0.7148. However, it experienced a minor drop of 2.87% in the previous 24 hours. The crypto’s market capitalization is now at an impressive $7 billion, making it one of the top 18 cryptocurrencies by size.

3. Fantom (FTM)

FTM, or Fantom, is an open-source, decentralized system that enables the creation and operation of DApps (decentralized applications) and manages digital assets. Its goal is to improve upon previous blockchain technologies by striking a ideal balance between scalability, security, and distributed control.

Lately, Fantom has displayed a positive trend in its market behavior, increasing by over 11% in just the past week. As a result, it could be an appealing, underpriced investment for those aiming to broaden a $1000 investment with this asset currently costing $0.7374. However, there’s been a slight dip of 1.12% in Fantom’s price compared to the previous day.

4. Sei (SEI)

SEI, a prominent blockchain platform for trading applications (Sei), has seen an extraordinary growth, increasing by more than 7300% in value. However, the current market situation has caused a 10% decrease in SEI‘s price, now standing at $0.5917. This drop has moved SEI to rank 59th on CoinMarketCap with a market capitalization of $1.6 billion. Given its past success and the current lower price point, SEI could be an attractive addition to a $1000 investment portfolio.

5. Beam (BEAM)

BEAM (BEAM), an additional prominent blockchain, aims to improve gaming engagements. It equips gamers and creators with resources for more immersive experiences, and receives backing from the Merit Circle Decentralized Autonomous Organization (DAO).

5 Undervalued Altcoins To Buy When Diversifying $1000 Crypto Portfolio

The current price of Beam is $0.02765, representing a 10% decrease in the last 24 hours and a 18% decline over the past month. Yet, there was an 8% rise during the weekend and a staggering 461% surge so far this year. With a market capitalization of $1.4 billion, Beam sits at number 64 on CoinMarketCap, making it an intriguing option for investors looking to expand their portfolios with potentially undervalued altcoins.

Bottom Line

These five cryptocurrencies – Hedera, Polygon, Sei, Fantom, and Beam – hold great potential as investment options. With their ongoing advancements and expansions in technology, they are strategically situated to seize the surging energy in the crypto industry, possibly delivering substantial gains from a relatively small upfront investment.

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2024-04-24 21:32