Long-term cryptocurrency investors realise the necessity of diversifying their portfolios by purchasing low-cap and high-cap coins. Investing in a penny cryptocurrency during its ICO phase can help you construct a well-rounded portfolio with a wide range of assets. We’ll look at two well-known cryptocurrencies trading under $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 has been locked in a legal battle with the SEC over claims the company sold XRP tokens as securities in 2013.
XRP should climb in value if Ripple’s lawsuit against SEC is successful which looks more likely by the day. Major crypto exchanges such as Coinbase could relist the XRP token which would enable more people to trade it and thus, the price could and should skyrocket.
Ripple and XRP are still listed in the top 10 cryptocurrencies in terms of the market cap showing us that despite the problems, the token still has a core following.
When the lawsuit with the SEC has come to an end the price of XRP could easily reach double digits which would be 10x from the $0.76 it is currently worth.
Over the last month, the price of Cardano (ADA) has steadily risen 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 supported by the blockchain network, which has experienced some acceptance from this new market.
Cardano is supported by a large scientific community and all upgrades are peer-reviewed before they are implemented. Shortly, Djed, a stablecoin that may be used to settle transactions inside the ADA ecosystem, will be integrated into the Cardano ecosystem.
Cardano is expected to compete with Ethereum for supremacy in the smart contract world.
The price of ADA should experience similar growth to that of XRP. ADA would be worth $11.55 if it had the same market cap as Ethereum today which is an 11x on your current investment.
The Presale of Parody Coin (PARO) is now underway and the token may be purchased by completing a short registration form. The PARO token powers the entire Parody ecosystem and has a wide range of applications including:
1. Parody Swap: Users may simply exchange money for the PARO token.
2. Parody Bridge: Users can move assets across different blockchains.
3. Parody NFT Marketplace: Users will be able to purchase and create parody NFTs and then sell them for profit.
Long term holders or HODLers of PARO will be rewarded for their trusted backing of the project. Every week additional PARO tokens will be dropped into your wallet as a thank you for continuously supporting the liquidity of the network.
This airdrop is made possible by a small tax fee included in every transaction on the blockchain. 2% from every transaction will be evenly redistributed to all Parody Coin holders giving you an added incentive to buy and hold this exciting new token.
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