Long-term investors in cryptocurrencies realize the need to diversify their portfolios by buying small and large cap coins. Investing in a penny cryptocurrency during its ICO phase can help you build a well-balanced portfolio with a wide range of assets. We’ll be looking at two well-known cryptocurrencies that trade for less than $1, as well as a brand new entry, to see if any of them are worth adding to your cryptocurrency portfolio. .
XRP is the governance token of Ripple Labs and Ripple Net. The token is used to facilitate cross-border payments as efficiently as possible. Since December 2020, Ripple Labs is locked in a legal battle with the DRY regarding allegations that the company sold XRP tokens as securities in 2013.
XRP is expected to climb in value if Ripple’s lawsuit against the DRY succeeds, which seems more probable every day. Major crypto exchanges like Coinbase could re-list the XRP token, allowing more people to trade it and therefore, the price could and should skyrocket.
Ripple and XRP are still in the top 10 of cryptocurrencies in terms of market capitalization, which shows us that despite the problems, the token still has a hard core of followers. When the lawsuit with the SEC ends, the price of XRP could easily reach double digits, or 10 times more than the $0.76 it is currently worth.
Over the past month, the price of Cardano (ADA) rose steadily from $0.79 to $0.96. Smart contracts have been added to the Cardano ecosystem, making the ADA coin a viable investment in the coming months. NFTs are also backed by the blockchain network, which has seen some acceptance in this new market.
Cardano is backed by a large scientific community and all upgrades are peer reviewed before being implemented. Shortly, Djed, a stablecoin which can be used to settle transactions within the ADA ecosystem, will be integrated into the ecosystem Cardano.
Cardano is expected to compete with Ethereum for supremacy in the world of smart contracts. The price from ADA should experience growth similar to that of XRP. ADA would be worth $11.55 if it had the same market cap as Ethereum today, which is an 11x increase in your current investment.
The presale of Parody Coin (PARO) is ongoing and the token can be purchased by completing a short registration form. The PARO token powers the entire Parody ecosystem and has a wide range of applications, including:
- Parody Exchange: Users can simply exchange money for the token PARO.
- Parody Bridge: Users can move assets between different blockchains.
- NFT market Spoofs: Users will be able to buy and create parody NFTs and then sell them for a profit.
Long Term Holders or HODLers of PARO will be rewarded for their trusted support of the project. Each week, additional PARO tokens will be deposited into your wallet as a thank you for your continued support of network liquidity. This airdrop is made possible by a small fee included in each transaction on the blockchain. The 2% of each transaction will be redistributed equally to all Parody Coin holders, giving you even more incentive to buy and hold this exciting new token.
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