With the bear market looking like it's finally over, now is the ideal time to start picking up tokens. Getting in now means you could see some substantial gains over the next bull run. So if you're looking for the best crypto under $1 to invest in, then read on.
This article will explore seven favourite cryptocurrencies that are suspected to be immensely undervalued right now, before giving a verdict on the best one to invest in.
1. Metacade (MCADE) - Web3's Community Hub For All Things Play-to-EarnMetacade is a community hub that aims to be Web3's primary destination for everything play-to-earn gaming. It plans to be a place to connect with fellow gamers, crypto investors, entrepreneurs, and developers in a fun, vibrant community setting. On the platform, you can discover the latest in GameFi, explore multiple earning opportunities, and even play a role in funding the next wave of play-to-earn titles.
One of Metacade's main ambitions is to make play-to-earn accessible to everyone. That's why you'll find reviews, leaderboards, alpha, and other content that breaks down how to get the most out of your play-to-earn gaming time. To encourage users to share their thoughts and best practices on the platform, Metacade rewards anyone that posts reviews and tips with the MCADE token.
You can also earn MCADE tokens by participating in exclusive prize draws and tournaments hosted on the platform. If you're one for exploring the latest games on the market, you can even earn through casual testing gigs using Metacade's native testing environment.
Most significantly, you could even replace your traditional income entirely with work from Metacade's job board, which will launch in 2024. There you'll find part-time testing gigs, internships, and full-time positions working with some of the most innovative names in Web3 development. Whatever your skills are, you'll be able to find your place in the next generation of gaming with Metacade.
In late 2023, Metacade will allocate its first Metagrant. Metagrants offer life-changing financing to developers of the games the community sees the most potential in. MCADE holders vote for their favourite idea in a pool of dozens of competing projects and the winning developer is awarded funding to build their vision. Metacade's goal is to play a vital role in producing some of the best play-to-earn games on the market with an aim to host each title in its virtual arcade for anyone to play.
To understand why Metacade is first choice as the best crypto under $1 to invest in, let's consider the market it's launching into. The GameFi market, according to Crypto.com, is expected to grow at 10x the rate of traditional gaming by 2025. It's also forecast to grow from a $1.5 billion industry in 2021 to a $50 billion industry in 2025.
Metacade is positioning itself as the central community platform for this industry with a variety of features likely to attract a sizeable crowd. Combined with the fact the MCADE token is still in presale, launching at $0.008 each, Metacade offers an incredible investment opportunity to get in right at the start of the gaming revolution.
>>> You can participate in the Metacade pre-sale here <<<
2. VeChain (VET) - Transforming Supply Chain ManagementVeChain is an enterprise-level blockchain solution to supply chain management. Its goal is to "build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers" (VeChain). In practice, this looks like a transparent blockchain that stores supply chain data on the blockchain, creating an immutable record of manufacturing, storage, transportation, and supply.
VeChain enables complete tracking of every aspect of the supply chain, like temperatures, authenticity, and delivery confirmation. For example, Walmart China uses VeChain to allow consumers to trace its produce from its source to store. LVMH, the global luxury fashion giant, uses VeChain for anti-counterfeiting on the blockchain. In fact, VeChain has partnerships with dozens of globally-recognised brands, like BMW, Renault, and H&M, demonstrating the value its chain can offer businesses in creating transparent supply chains.
As of November 2022, VeChain is worth around $0.025 with a market cap of about $1.8 billion. Launched in 2018, VeChain has proven itself as a leading enterprise blockchain over the years. That's why it's the second best crypto under $1 to invest in.
3. Shiba Inu (SHIB) - The Dogecoin KillerShiba Inu is one of the most popular meme coins to date, beaten only by its predecessor, Dogecoin. The coin bills itself as the "Dogecoin killer" - a phrase the token definitely lived up to when it rose over 1000% in 25 days during October 2021, vastly outperforming DOGE's performance at the time. Shiba Inu was created as "an experiment in decentralised spontaneous community building," according to its founder Ryoshi, and has now grown into an entire ecosystem driven by a loyal fanbase.
These days, you'll also find LEASH and BONE tokens in the ecosystem that act as staking rewards and governance tokens, respectively. There's also a decentralised exchange, called Shiba Swap, and even a play-to-earn mobile game called Shiba Eternity that integrates the Shiboshi NFT project.
All of these aspects are driven by the so-called Shib Army, which has almost 500k members on the r/ShibArmy subreddit, proving Ryoshi's experiment to be a huge success. SHIB is worth $0.0000123 today with a market cap of $7.3 billion - an impressive feat for a token launched less than two years ago. Therefore, it's the third best crypto under $1 to invest in.
4. Ripple (XRP) - Contending With the Traditional Banking SystemRipple is a digital payment network that's one of the oldest mainstream projects on the market. Its purpose is to simplify the international payment and remittance process by removing banks and middlemen from the equation, creating a much faster and cheaper way to transact. Ripple was designed to be used by banks as a replacement for the SWIFT network.
This revolutionary payment system has already attracted some big names, like Bank of America, American Express, and Moneygram, to test Ripple in their operations. It's also drawn the attention of another big name: the Securities and Exchange Commission. The SEC has been in litigation with Ripple Labs for almost two years now, but many crypto law experts expect the SEC to lose, according to Forbes. This is increasingly likely with Coinbase now jumping in to support Ripple in its fight.
If Ripple wins the case, then it could open doors for a massive wave of adoption. At the moment, XRP is worth $0.49 with a market cap of $24.5 billion. It seems like Ripple could have a bright future ahead of it, and as such, it's the fourth best crypto to invest in at under $1.
5. The Graph (GRT) - An Important Component of the Crypto EcosystemThe Graph is a unique project that acts as an indexer of the blockchain. As you can imagine, the smart contracts powering many decentralised apps (dApps) are particularly complex. This makes retrieving data a difficult and sometimes costly task. That's where The Graph comes in.
Similar to how Google indexes the worldwide web, The Graph indexes records from other blockchains, like Ethereum, for quick and easy retrieval. It uses subgraphs, which effectively allow data to be organised and queried without complex requests. The Graph provides the infrastructure for dApps, DeFi, and other Web3 projects to function quickly and effectively using a network of indexers, curators, and delegators that maintain the integrity of its data.
To access this data, consumers must pay a query fee in GRT. Each part of the network is paid a portion of GRT for their role, creating an incentive to carry out their job correctly. Aave, Uniswap, Curve, and Decentraland all use The Graph to simplify data retrieval, which proves the value of its network. It currently trades for $0.096 with a market cap of $700 million and is the fifth best crypto under $1 to invest in.
6. Chiliz (CHZ) - Linking Fans and Their Favourite TeamsChiliz is a fan engagement platform that offers fan tokens for various sports teams across the globe. Fan tokens offer supporters a way to interact directly with their favourite teams, giving them access to early-release tickets, voting rights, VIP events, and more. For example, holders of the Paris Saint Germain fan token are able to vote on stadium banners and the cover of the PSG limited edition FIFA 22 game. Some lucky fans were also given the chance to interview their favourite players!
These fan tokens aren't just limited to football teams. You'll also find Formula 1, basketball, and even eSports fan tokens. Each team decides its tokenomics, with some teams burning tokens based on their performance. This means that some fan tokens become rarer, driving the price up in the process.
The CHZ token is a necessary component in all of this, as followers purchase fan tokens in CHZ. One CHZ is worth $0.25 right now with a market cap of $1.3 billion, and it's the sixth best crypto under $1 to invest in.
7. Loopring (LRC) - A Decentralised Exchange Protocol Built on EthereumLoopring is an Ethereum-based token that allows anyone to build decentralised exchanges on its network using zero-knowledge proofs. Decentralised exchanges that run on top of Ethereum settle trades on the blockchain directly, which can be slow and costly. Loopring uses zero-knowledge rollups (zkRollups) to allow exchanges built on its network to carry out order settlement elsewhere with complete privacy, meaning that decentralised trades are much faster and cheaper.
In essence, zkRollups allows a piece of software to report a particular claim about a piece of data without sharing it. This also means that transactions can be bundled together (hence the "rollup") into one transaction, enabling trades to be settled before being finalised on the blockchain (Ethereum). As a result, Loopring offers a platform for low-cost, fast decentralised exchanges to be built by anyone.
One of the most high-profile names building on Loopring is Gamestop, which launched an NFT marketplace on the network. According to Loopring, it's possible to mint NFTs for less than $1 while offering the security of the Ethereum network, which is an incredible step forward for the NFT space. LRC trades for $0.39 today with a market cap of $464 million and is the seventh best crypto under $1 to invest in.
Metacade (MCADE) Offers the Best Investment OpportunityEach project on this list is doing something transformative. VeChain has shown it can provide tremendous value to supply chain management, while Ripple offers an alternative to the traditional SWIFT banking system. But for most of these projects, the ship has sailed to get in early - except Metacade.
That's part of the reason why Metacade is the best crypto to invest in under $1. It's a disruptive project that is taking advantage of the massive growth the play-to-earn gaming sector will see in the next few years. The fact Metacade is still in presale means its investment potential is enormous.
If you're looking to get in on the Metacade presale, you'd better be quick. In phase 1 of the presale, you could get 125 MCADE tokens for $1. In phase 9, you'll get just 50 MCADE tokens for the same $1. This means you could potentially more than double your long-term gains just by being an early investor in this fantastic project!
You can participate in the Metacade pre-sale here.