It’s been an ugly year for altcoin traders, as the vast majority of coins have lost close to 95% of their value in the ongoing 2018 bear market.
However, the recent string of mainnet launches, coupled with numerous altcoin listings on Coinbase, have worked to partially rejuvenate interest in smaller cap digital currencies. For investors more comfortable taking risks, cryptocurrencies currently trading below a $100 million market cap could present an interesting opportunity.
Here are 5 altcoins under a $100 million market cap that have outperformed over the last month.
Description: A smart token that can facilitate peer-to-peer matchplay and decentralized tournaments for millions of competitive gamers worldwide. The price of MGO has benefited from an airdrop started on November 2 that will last for 5 days.
1-Month Returns: 247%
Description: Created by Credissmo, a leading European fintech group with 10 years of experience, Nexo enables crypto investors to leverage the value of their digital assets without needing to liquidate holdings.
1-Month Returns: 102%
Description: A highly scalable, Ethereum-based smart contract blockchain that boasts 1,300 transactions per second. The price of GO greatly benefited from a recent community listing on Binance.
1-Month Returns: 101%
Libra Credit (LBA) | $ 0.0673 | $21.7 Million Market Cap
Description: Decentralized Ethereum blockchain based ecosystem that facilitates open access to credit anytime and anywhere. Libra notably received an investment from Binance Labs, the investment arm of the popular exchange.
1-Month Returns: 88%
Description: A platform that opens up the blockchain to legally compliant securities offerings with a network of services designed to lower associated transaction costs over time. POLY has also benefited from a Binance community coin listing in July.
1-Month Returns: 63%
Despite a period of relatively low trading volume and Bitcoin stability, many altcoins have started to post significant gains. However, the majority of the cryptocurrencies are still trading at huge discounts relative to their January highs. Ultimately, it will likely take Bitcoin to break out of its low-volatility trading channel to bring any real bullish price action back to the market, but building positions in several well-positioned altcoins may not be a bad idea.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.