Altcoins
Top 5 Low-Cap Layer 1 Altcoins to Focus On in 2024
With increasing bearish influence in the cryptocurrency market, Bitcoin and other layer 1 altcoins are in correction. While the intensity of the correction phase differs for each project, the overall performance is under pressure.
However, the cryptocurrency market is anticipating a rise in the coming months. These tokens could skyrocket several times, with Bitcoin potentially surpassing $73,000. Moreover, as the altcoin season is fast approaching in the cryptocurrency market, the rise of Layer-1 tokens is about to begin.
So here are the 5 Best Low Cap Layer-1 Altcoins to Buy in 2024 for Massive Returns.
Top 5 Tier 1 Low Cap Altcoins
Radiant (RXD)
Radiant is a peer-to-peer digital asset system that allows for the direct exchange of value without a central authority. Like Bitcoin, it uses minimal structure and timestamps transactions in a continuous proof-of-work chain.
The current price of Radiant (RXD) is $0.000716, up 8.99% in the last 24 hours. The market cap of this Layer-1 token is $7.971 million, with a 117.89% increase in trading volume over the last 24 hours.
Radiant’s all-time high was $0.009245 on April 15, 2023, down 92.24% from that high. The all-time low was $0.0004307 on February 13, 2023, up 66.46% from that low.
Despite a falling channel on the weekly chart, the RXD Layer 1 altcoin is ready for a bullish cycle from the support trendline. A bullish cycle could result in a jump to $0.0024, representing a 250% upside potential.
Chromie (CHR)
Chromia is a blockchain platform developed by ChromaWay, aimed at simplifying the creation of decentralized applications (DApps). ChromaWay, active since 2014, is also known for developing colored coins representing various assets on a blockchain.
Chromia (CHR) is currently trading at $0.2407, up 4.27% in the last 24 hours. The market cap is $195.5 million, with a 381% increase in 24-hour trading volume. Furthermore, the Layer 1 altcoin is down 84% from its all-time high of $1.50. On the other hand, the rise from the all-time low of $0.008525 marks a remarkable increase of 2705.75%.
According to the trend-based Fibonacci levels, a price jump from $0.21 can break above the $1.618 to $0.8435 level.
Injection protocol (INJ)
Injective is a blockchain platform designed to revolutionize the financial industry with its advanced Layer 1 infrastructure. Amid the recent market rally, INJ price posted a notable reversal from the combined support of $18.6 and 100W EMA.
Source: Tradingview
The bullish reversal sent the asset up 20% to trade at $22.4, while the market cap jumped to $2.077 billion. If the bullish momentum continues, buyers could then challenge the upper trendline around $27.
The potential breakout could provide a better trend reversal signal and encourage buyers of Layer 1 altcoin INJ to pursue the $53 target.
Dione Protocol (DIONE)
Dione Protocol (DIONE) is a blockchain project focused on creating a sustainable and environmentally friendly digital economy by harnessing renewable energy sources.
As supply pressure in the broader market has eased, DIONE’s price correction has managed to stabilize above the 38.2% Fibonacci retracement level. This healthy pullback indicates that the long-term trend remains bullish for DIONE.
A recent 38.2% FIB reversal to $0.0071 sent the asset up 16.4% to trade at $0.0082, while the market cap jumped to $77.6 million.
With sustained buying, this altcoin could turn the 200D EMA into potential support, tapping into traders’ bullish sentiment. This layer 1 altcoin’s post-breakout rally could reach $0.0134, followed by $0.0165.
DUSK (DUSK)
Dusk Network (DUSK) is a privacy-focused blockchain protocol designed to bring institutional-grade financial services to the blockchain while ensuring compliance with regulatory standards.
DUSK coin saw a notable outflow during the June market correction, with its price falling from a high of $0.51 to a low of $0.27, suggesting a 47% loss. However, the falling price faced a fresh wave of demand pressure at $0.285, a horizontal support zone that has been intact since February 2024.
The coin bounced from this support, indicating a crucial accumulation zone for buyers to launch a counterattack. At press time, DUSK coin is trading at $0.284 and maintains a market cap of $119.8 million.
If history repeats itself, DUSK price could rally strongly and break through the combined resistance of $0.327 and the 200D EMA. The potential breakout will intensify the buying momentum of this layer 1 altcoin to target the $0.5 mark.