Today we take another look at the world of cryptocurrencies, focusing on the top three cryptocurrencies under $1 to watch this weekend. Let’s take a look at this 3 cryptocurrencies To invest in more detail in the article.
3 Cryptocurrencies to Watch Out for
1. Algorand (ALGO)
ALGO, a cryptocurrency linked to Algorand technology, appears to be catching the attention of cryptocurrency enthusiasts with an impressive rate, jumping 1.78% in the last 24 hours to reach $0.1712.
According to market information from CoinMarketCap, the token’s trading volume and market capitalization saw significant increases of an additional 36.55% and 1.71%, respectively. What is causing this price surge?
Okay, let’s break it down. First, the Algorand Foundation released a brand new Algorand API. This move has been a game-changer for anyone looking to level up their multichain dApp game, and seems to have had quite a positive impact on ALGO’s value.
And then there’s Algorand Ventures, which provides funding behind Algorand. They recently backed Folks Finance, a platform for digital asset lending, borrowing, and trading. This movement involves spreading the wings on different chains. Algorand DeFi industry leader Folks Finance has achieved a record total value locked (TVL) of $170 million by the end of 2023. This is a huge deal and appears to have contributed to ALGO’s surge in value.
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2. XRP
In a recent whirlwind, the Ripple vs. SEC lawsuit took an interesting twist in Ripple’s favor, securing an extension of the deadline for discovery requirements related to its relief. U.S. District Judge Analisa Torres gave the green light to Ripple’s application for an extension to strengthen its digital payments network.
As a result, the Ripple-based token saw a further surge, surpassing the $0.52 milestone today, February 9th. Despite significant selling by whales today, the token remained in positive territory as of press time, sparking speculation that: The potential value of XRP rises to $2. Moreover, the token’s derivatives data appeared to reflect today’s economic trends, fueling market optimism surrounding XRP.
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3. Terra Classic (LUNC)
While the entire cryptocurrency market is bouncing back, Terra Classic (LUNC) is actually on the move, up a whopping 15% in just one week! What is everyone so excited about? Well, it’s about a community giving a thumbs up to a game-changing suggestion.
They voted to mandate that all L1 developers go through a Know Your Customer (KYC) process. This move adds a layer of security while also opening the door wider for third-party developers to jump in and work their magic on the blockchain. That’s really cool, right? It’s important to keep everything safe while pushing boundaries.
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