The ongoing market doldrums are likely to scare investors from taking positions in various altcoins to buy, especially after the general dismal performance witnessed after Bitcoin halving. Nevertheless, with proper market research, calculated positions can be taken for smaller crypto portfolios with the potential to grow $1000 into profitability. The tokens to consider include Hedera (HBAR), Polygon (MATIC), Sei (SEI), Fantom (FTM), and Beam (BEAM).
Each digital currency offers innovative solutions and is gaining traction in the industry, making them compelling choices for investors looking to allocate a $1,000 investment.
advertisem*nt
1. Hedera (HBAR)
Hedera (HBAR), the primary currency of the environmentally friendly Hedera network, plays several crucial roles. It facilitates transaction fees and secures the network via a proof-of-stake mechanism. The total supply of HBAR is limited to 50 billion coins, and it is traded on multiple platforms.
The value of HBAR soared after recent mentions of BlackRock, climbing over 25% in just 24 hours. This spike highlights its potential as a strategic addition to a $1000 investment portfolio focused on undervalued altcoins.
Over the past week, HBAR has seen a 62% increase. Currently, the Hedera price is at $0.1258. In the last month, it rose by 16%. Now ranked 24th on CoinMarketCap, Hedera has a market capitalization of $4.49 billion.
2. Polygon (MATIC)
Polygon (MATIC) operates as a pivotal interoperability and scalability solution that amplifies the functionality of Ethereum. It complements Ethereum’s base layer by integrating a series of sidechains, thereby boosting the network’s scalability and reducing transaction costs for its users.
Over the past week, the MATIC price has climbed by 8%, currently priced at $0.7148. This represents a slight 24-hour decline of 2.87%. With a market capitalization now standing at $7 billion, MATIC ranks among the top 18 cryptocurrencies.
3. Fantom (FTM)
Fantom (FTM) is an open-source and decentralized platform that supports DApps and digital assets. It aims to address the shortcomings of earlier blockchain systems by focusing on a harmonious balance between scalability, security, and decentralization.
Recently, Fantom has shown a bullish pattern in its market performance, gaining more than 11% in the past week. This spike in value positions it as a potentially undervalued asset for those looking to diversify a $1000 portfolio. Presently, Fantom price is $0.7374, experiencing a minor decrease of 1.12% from the day before.
4. Sei (SEI)
Sei (SEI), a leading blockchain specifically designed for trading applications, has experienced a meteoric rise, soaring by over 7304%. Despite its impressive surge, the current market conditions show a 10% decline in Sei price, now at $0.5917. This downtrend has placed Sei in the 59th position on CoinMarketCap with a market capitalization of $1.6 billion, suggesting it might be an undervalued asset in diversifying a $1000 portfolio.
5. Beam (BEAM)
Beam (BEAM) is another notable blockchain that focuses on enhancing gaming experiences. It supports gamers and developers with tools for richer gameplay and is backed by the Merit Circle DAO.
Beam price stands at $0.02765, reflecting a 10% drop in the last day and 18% over the month. However, it recorded an 8% increase last weekend and a 461% rise this year. Beam ranks 64th on CoinMarketCap with a $1.4 billion market cap, marking it as another undervalued altcoin suitable for portfolio expansion.
Bottom Line
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 in the crypto market, potentially offering significant returns on a modest initial investment.
Related Articles
- Solana Price Forecast As Meme Coins Surge, Will SOL Hit $200 Soon?
- SHIB Price Prediction: Can Spike In Burn Rate Drive Price to $0.001?
- Crypto Price Prediction 4/24: Meme Coins Lead Market Rally With Double-Digital Gains
- TAGS
- BEAM
- Fantom (FTM) price
- HBEAR
- MATIC coin
- Sei blockchain
- Trending
- Price Analysis
- Crypto Poker Players Got Robbed Millions Worth of Assets in Singapore
- Friend Tech Faces Backlash as Token Price Crashes After Airdrop
- Cardano (ADA) Price Poised For A Parabolic Run, Analyst Predicts Citing Historical Trends
- Breaking: HK Firm Becomes Top Holder In BlackRock Bitcoin ETF (IBIT) – Bloomberg
- Crypto Nightmare: Trader Loses $68M Wrapped Bitcoin (WBTC) In Single Click
- XRP Price Prediction: XRP Eyes Major Reversal as Buyers Step In at $0.48
- LUNC Price Prediction: Terra Classic On The Verge Of 66% Move?
- Toncoin Price Forecast: $20 Per TON Imminent On Pantera’s Strategic Move?
- BTC Price Forecast: Signs Bitcoin Is Suffering From Post-Halving Hangover?
- Cardano Price Analysis: Bottom Formation at $0.4 Sees $ADA to Rally 15%
- About author
- Disclaimer
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
