Altcoins
5 Undervalued Altcoins to Buy When Diversifying a $1,000 Crypto Portfolio
The current rise of cryptocurrency The market has highlighted five altcoins to buy: Hedera (HBAR), Polygon (MATIC), Sei (SEI), Fantom (FTM), and Beam (BEAM). Each of these digital currencies offer innovative solutions and are gaining traction in the industry, making them compelling choices for investors looking to invest $1,000.
1. Hedera (HBAR)
Hedera (HBAR), the primary currency of the eco-friendly Hedera Network, plays several crucial roles. It facilitates transaction fees and secures the network through a proof-of-stake mechanism. The total supply of HBAR is limited to 50 billion coins and is traded on multiple platforms.
HBAR’s value skyrocketed after recent mentions from BlackRock, climbing over 25% in just 24 hours. This spike highlights its potential as a strategic addition to a $1,000 investment portfolio focused on undervalued altcoins.
Hedera Price Chart
Over the past week, HBAR has seen a 62% increase. Currently, Hedera price is $0.1258. Last month it increased by 16%. Now ranked 24th on CoinMarketCapHedera has a market capitalization of $4.49 billion.
2. Polygon (MATIC)
Polygon (MATIC) functions as a critical interoperability and scalability solution that amplifies the functionality of Ethereum. It complements Ethereum’s base layer by integrating a series of sidechains, thereby strengthening the network’s scalability and reducing transaction costs for its users.
Over the past week, the MATIC h priceup 8%, currently priced at $0.7148. This represents a slight 24-hour decline of 2.87%. With a market capitalization that now stands at $7 billion, MATIC ranks among the top 18 cryptocurrencies.
3. Ghost (FTM)
Fantom (FTM) is an open source and decentralized platform that supports DApps and digital assets. It aims to address the shortcomings of previous blockchain systems by focusing on a harmonious balance between scalability, security and decentralization.
Recently, Fantom has shown an upward trend in its stock performance, gaining over 11% over the past week. This rise in value positions it as a potentially undervalued asset for those looking to diversify a $1,000 portfolio. Currently, Ghostly Price is $0.7374, experiencing a slight decrease of 1.12% from the previous day.
4. Sei (SEI)
Sei (SEI), a leading blockchain specifically designed for trading applications, has seen a meteoric rise, climbing over 7,304%. Despite its impressive growth, current market conditions show a 10% decline sei price, now at $0.5917. This downward trend placed Sei at 59th position on CoinMarketCap with a market capitalization of $1.6 billion, suggesting it could be an undervalued asset in diversifying a portfolio of 1,000 dollars.
5. Beam (BEAM)
Beam (BEAM) is another notable blockchain that focuses on improving gaming experiences. It supports players and developers with tools for richer gameplay and is backed by the Merit Circle DAO.
Beam price table
Beam price stands at $0.02765, reflecting a decline of 10% on the last day and 18% on the month. However, it recorded an increase of 8% last weekend and 461% this year. Beam ranks 64th on CoinMarketCap with a market cap of $1.4 billion, making it another undervalued altcoin suitable for portfolio expansion.
Conclusion
Hedera, Polygon, Sei, Fantom and Beam represent promising investment opportunities. As they continue to develop and expand their technologies, these altcoins are well-positioned to capitalize on the growing momentum of the crypto market, potentially offering significant returns on a modest initial investment.
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