5 Undervalued Altcoins To Buy When Diversifying $1000 Crypto Portfolio
The current surge in the cryptocurrency market has put a spotlight on five altcoins to buy: Hedera (HBAR), Polygon (MATIC), Sei (SEI), Fantom (FTM), and Beam (BEAM). Each of these digital currencies offers innovative solutions and is gaining traction in the industry, making them compelling choices for investors looking to allocate a $1,000 investment.
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.
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