This guide will introduce you to the most undervalued cryptos to buy right now. These are currently trading at highly discounted prices. In the foreseeable future, their price is expected to correct upwards and hit unimaginably high records. Therefore, by investing in these cheap cryptos, you are prepping your portfolio for an unprecedented upward price jump.
Here is everything you need to know about the most undervalued cryptos to buy today.
The 15 Most Undervalued Cryptos to Buy Before the Next Bull Market
First off, a crypto asset isn’t considered undervalued or cheap because it trades for pennies. Rather, it is considered cheap if its market value is way below its intrinsic value. Below, our analysts have come up with a list of the 15 cheap cryptos to buy. These are currently trading at prices way below their true value.
- Bitcoin (BTC) – Overall Best Undervalued Crypto to Buy Right Now
- Solana (SOL) – Best Undervalued Crypto to Buy Before Next Bull Market
- Ethereum (ETH) – Undervalued Crypto With the Most Used Digital Currency
- Ripple (XRP) – Undervalued Crypto that is About to Explode
- Shiba Inu (SHB) – Most Undervalued Memecoin to Buy Today
- Cardano (ADA) – Promising Ethereum Alternative Selling For Cheap
- Binance Coin (BNB) – Utility Token for the Largest Crypto Exchange
- Cosmos (ATOM) – Grossly Undervalued Crypto Promising Interoperability
- Decentraland (MANA) – Invest in the Most Popular Crypto Metaverse
- Uniswap (UNI) – Fastest Growing Decentralized Exchange
- ApeCoin (APE) – New and Undervalued Crypto with Ties to Metaverse and NFT Worlds
- Chainlink (LINK) – One of the Most Undervalued Future Crypto
- Maker (MKR) – Cheap DeFi Coin with High Chances to Rebound
- Axie Infinity (AXS) – Undervalued Play to Earn Crypto with a Promising Future
- The Sandbox (SAND) – Cheap Metaverse Token Trading at a Huge Discount of Over 90%
Below, we will provide you with a brief overview of the most undervalued cryptos. Later on, we teach you how to identify the best cheap crypto to buy. We even provide a step-by-step tutorial on how to buy cryptos that are considered undervalued.
A Closer Look at the Most Undervalued Cryptos to Buy Right Now
When searching for the most undervalued cryptos to invest in today, we paid attention to a number of factors. We looked at the coin’s current price relative to its past price action.
We also compared the current market price with the usefulness of its blockchain and expected future value. Lastly, we assessed the impact market conditions and other internal challenges have had on the altcoins price.
For each of these altcoins, we tell you why it is cheap and how high its price can reach. Even more importantly, we tell you why it is worth buying right now.
1. Bitcoin (BTC) – Overall Best Undervalued Crypto to Buy Right Now
Bitcoin is the most valuable crypto in the world. It is also one of the most popular and highly lucrative digital currencies in the world. It makes it to our list of the best cryptos to buy today because it currently trades more than 60% below its all-time high. Among the factors pushing down its value are the bear market and high interest rates.
That said, a number of factors are expected to trigger its upward price correction. First are the many developments taking place in the Bitcoin network and the larger crypto market.
These include the success of the Bitcoin ordinals protocol and the possible approval of multiple Spot Bitcoin ETFs by the SEC-US. We also expect a possible price rally for BTC after its halving event in April 2024.
Bitcoin has also proved its resilience time and again. There is no doubt that it will eventually rebound, recapture the 2021 highs, and rally to new highs. By 2030, for example, the likes of Cathy Woods – Ark Invest CEO – expect BTC price prediction to have rallied 4000%+ and torn above $1 Million.
Therefore, by buying Bitcoin today, you are prepping your investment for a possible 300% rally in a few months. You could also be staring at over 4000% gains in the longer term.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
2. Solana (SOL) – Best Undervalued Crypto to Buy Before the Next Bull Market
Solana is one of the most lucrative cryptos of all time. In the 18 months leading to November 2021, for example, SOL rallied by close to 120,000%. But it is also one of the most volatile cryptos to buy today. This is based on the fact that it has shed more than 97% of its 2021 highs in 12 months. Heading into the first quarter of 2024, SOL was still trading 90%+ below that all-time high.
Among the factors driving SOL token prices down include the extended bear market. It was also dealt a heavy blow by the collapse of Alameda Research. And the frequent network downtimes haven’t helped either.
It lists among the best undervalued cryptos to buy today because it is resilient and will eventually rebound. It is also listed here because there have been massive developments in the Solana ecosystem. The downtimes are way less and infrequent. Plus, it has onboarded more developers, launched more crypto projects, and welcomed more endorsements. None of these are factored in SOL’s current price.
You should consider buying Solana because it is resilient and obedient to market trends. As soon as the crypto market starts recovering, it is expected to have one of the biggest breakouts. And if it recaptures its 2021 highs, it will have grown your investment by more than 1100%.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
3. Ethereum (ETH) – Undervalued Crypto With the most Used Digital Currency
Ethereum has one of the busiest blockchain networks. It has been the innovation hub for all the popular crypto technologies. Smart contracts to DeFi Coins, dApps, metaverse, and even NFTs were all birthed on the network. The ETH token is also widely used and its demand is on a steady uptrend. Not forgetting the countless number of brands building on the Ethereum ecosystem.
ETH’s current market price is, however, not reflective of this value. In fact, it trades around 70% below November 2021 highs despite growing its network exponentially. Not even its switch to the PoS consensus mechanism and crowning as the most sustainable crypto has helped push its value up. These are the main reasons why we list it among the most undervalued cryptos.
Moving forward, however, crypto and blockchain adoption are expected to continue rising. The crypto market is also expected to rally soon. Further, more futures and spot Ethereum ETFs are expected to be approved across the world. All these will trigger an upward price correction for ETH.
In fact, some optimists expect ETH to dethrone BTC as the most valuable crypto before 2030. These form part of the reasons why you should consider buying Ethereum while it sells for cheap.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
4. Ripple (XRP) – Undervalued Crypto that is About to Explode
Ripple is the only crypto in this list that still trades below its early 2018 highs. This, among other factors, makes it the cheapest crypto to buy right now. So many factors can be attributed to this, but one stands out. This has to be its long-running legal battle with the SEC-US, which ensured that XRP missed 2021’s market rally.
Ripple has since won this legal battle and has already hinted at embarking on its biggest price rally yet. We also note that even as the legal battle progressed, Ripple was busy expanding its network. It has welcomed hundreds of finance industry players to its ecosystem.
It is already helping close to 10 governments and central banks build CBDCs on its ledger. Yet, none of these developments are currently factored in its current market price.
Having considered all these, it is easy to see why analysts are calling XRP the next crypto to explode. If you buy Ripple today, you will be starting at 800% gains when it recaptures its all-time high. Some optimists are even confident XRP could reach $20 before 2030. This translates to possible 4000%+ gains and makes it one of the best altcoins to buy now.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
5. Shiba Inu (SHB) – Most Undervalued Memecoin to Buy Today
Shiba Inu’s 40,000,000%+ rally in the months leading to 2021 made it the most lucrative crypto investment of all time. Today, we note that it has shed more than 95% of this all-time high. Much of this can be attributed to the prevailing bearish market conditions. One may also argue that such a volatile drop can be attributed to its lack of intrinsic value.
Both these downward price drivers are, however, about to be resolved. For starters, the bears are losing grip of the market as Bitcoin’s halving event draws ever near. It is expected to trigger the biggest bull market, yet which would mean explosive gains for SHIB.
Secondly, Shiba Inu is looking to escape the meme coin tag. It hopes to achieve this by enriching its ecosystem and burning SHIB tokens en masse. Looking at these, you understand that SHIB is trading nowhere near its expected future price. This, then, makes it the best penny crypto to buy right now.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
6. Cardano (ADA) – Promising Ethereum Alternative Selling For Cheap
Cardano is one of Ethereum’s most potent competitors. A large section of the crypto community understands this. And that is the reason why they have helped keep their position among the ten most valuable cryptos.
Like most of the cryptos in this list, Cardano can attribute its undervaluation to the bear market. But we believe its sluggish adoption of emerging crypto technologies has also played a key role in this.
Cardano was, for example, the last Ethereum killer to embrace the smart contract technology – in late 2021. It has also been slow in embracing equally innovative crypto technologies. Throughout the 2022 bear market, however, Cardano grew its ecosystem aggressively. It embraced all these technologies and started launching new projects – from DeFi coins to algorithmic stablecoins.
None of these have been priced in this current market price yet. Once this happens, ADA token prices are expected to rally to unimaginable heights. Other factors expected to fuel this upward price correction are a recovering crypto market and Cardano’s online community. This explains why it is the best future crypto to buy right now.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
7. Binance Coin (BNB) – Utility Token for the Largest Crypto Exchange
Demand for Binance Coins has been rising steadily. First, due to its utility token role on the Binance exchange. But even more significantly due to the aggressive expansion and growth of the Binance Smart Chain.
Moving forward, both the Binance exchange and the BSC network are expected to continue dominating their respective fields. This will only lead to higher demand for the BNB coin. It then beats logic that BNB continues to trade more than 70% below its late 2021 highs. This, and the realization that it will price correct soon, informed our decision to include it here.
We acknowledge that Binance Coin is undervalued because of the prevailing market conditions. It could also be undervalued because of the threat of prosecution faced by Binance.US. But these will eventually clear and BNB will rally to new heights.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
8. Cosmos (ATOM) – Grossly Undervalued Crypto Promising Interoperability
Cosmos promises to solve the biggest challenge facing the crypto industry – interoperability. It has come up with the interoperable blockchain communication protocol (IBC). This allows for seamless communication and data sharing between different blockchains. It also has the Cosmos SDK tool that makes it possible for anyone to create blockchain dApps.
Yet, the ATOM token has been struggling to stay above $10 for the past 12 months. It stepped into the first quarter of 2024, trading more than 85%+ below its September 2021 highs.
We list ATOM among the most undervalued cryptos to buy because we understand its value in the crypto-verse. We also list it because it has everything it needs to explode. These include a low circulating supply of 370 million tokens, resilience, and the backing of the crypto community. Its inclusion is also an acknowledgement of the fact that the main factors holding it down are temporal.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
9. Decentraland (MANA) – Invest in the Most Popular Crypto Metaverse
Decentraland is the most popular metaverse project. It has been adopted by tens of global brands that have acquired virtual plots of land on this metaverse. These include Adidas, Coca-Cola, Samsung, Atari, Nike, Heineken, Dominos, Tommy Hilfiger, Vogue Singapore, and more.
Not forgetting that Decentraland is a rich ecosystem with an NFT marketplace and recently introduced play-to-earn games. With these, its MANA tokens should be selling for way more than their current market price.
This explains our decision to list MANA among undervalued cryptos worth buying today. We also list it here because we know the factors that have been driving down its price are temporal. The two with the biggest weight have been the bear market and slowed enthusiasm towards metaverse tokens.
But MANA is a resilient crypto with the backing of the crypto community. Even more importantly, the crypto market has hinted on recovery. When this happens, the community will rally to pull MANA from the 95%+ depths its price has been cast to.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
10. Uniswap (UNI) – Fastest Growing Decentralized Exchange
Uniswap is the largest decentralized exchange in the world. It is also one of the fastest-growing decentralized projects in the crypto-verse. This is evidenced by the fact that it has processed $1.5+ Trillion worth of crypto trades so far.
It has also been integrated into 300+ crypto projects and has one of the highest TVLs. UNI token’s use cases have also been on the rise, especially as a passive income earner. And this makes it one of the best DeFi coins to invest in today.
Even with such charming statistics, however, UNI still trades more than 90% below its 2021 highs. We credit the depressing price action to the bear market. But as we have already mentioned, the market is primed for recovery.
As soon as it starts recovering, we expect UNI to rebound and possibly recapture its 2021 highs. If you invest in Uniswap today and it recovers, you will have grown your capital by 1400%+.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
11. ApeCoin (APE) – New and Undervalued Crypto With Ties to Metaverse and NFT Worlds
ApeCoin is a relatively new crypto, seeing that it launched during the 2022 bear market. It is the native token for the Otherside metaverse and the utility token for the Ape ecosystem’s upcoming mainnet. ApeCoin is a meme coin with close ties to the BAYC and MAYC NFT projects. It started well, with an uptrend, but its rally was quickly put off by the bear market.
In addition to the bears, the slowed hype towards meme coins as well as NFT and metaverse tokens. A number of factors have us convinced that it will be the meme coin to beat during the next bull market.
First, investors will be rushing to price in the many developments that have taken place in the Ape ecosystem. Secondly, a revival of either the meme coin, NFT, or metaverse crazes will catapult APE to unprecedented heights. Thirdly, the crypto market is primed for an uptrend and APE has already proved its obedience to market trends.
All these have us convinced that ApeCoin’s current price is nowhere near its future value. This makes it one of the best meme coins to buy before the next crypto market rally.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
12. Chainlink (LINK) – One of the Most Undervalued Future Crypto
Chainlink promises to revolutionize how smart contract platforms interact with real-world data. Through its Oracle technology, Chainlink makes it possible for smart contract networks to access real-world data. This enables the creation of more accurate and efficient smart contracts. This makes LINK one of the best future cryptos worth buying today.
However, the LINK token continues to perform dismally. It, for instance, crawled into the first quarter of 2024 trading more than 85% below its May 2021 highs. This could, for the large part, be attributed to the prevailing market conditions.
But it could also be attributed to the slow adoption of crypto and smart contract technology. The demand for LINK tokens is, therefore, low but rising steadily.
We feature Chainlink among the most undervalued cryptos to buy because the crypto market will recover. The adoption of crypto technology will also increase, effectively pushing up the demand for LINK tokens. These two will trigger LINK’s next price run.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
13. Maker (MKR) – Cheap DeFi Coin with High Chances to Rebound
Maker is the governance token for the MakerDAO – developers of the DAI stablecoin. It, too, is one of the most lucrative altcoins of all time. It is also resilient, obedient to crypto market trends, and has one of the lowest number of tokens in circulation.
The MakerDAO is also widely popular and is the DeFi with one of the highest TVL. None of these shiny features can, however, be seen in MKR’s current market price.
However, there is a general consensus among investors and analysts that MKR is ripe for a rebound. During the next market rally, they expect it to escape the current dip. They are confident it can rally by more than the 5000%+ needed to recapture its May 2021 highs. This makes it one of the best cheap crypto to buy before the next bull market.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
14. Axie Infinity (AXS) – Undervalued Play to Earn Crypto with a Promising Future
Axie Infinity is arguably the most popular and widely used blockchain gaming platform. It was among the best altcoins to buy before and during the last crypto market bull run. Axie Infinity is a resilient crypto and enjoys the backing of a large crypto community.
It is also one of the most sought-after play-to-earn games and integrates an NFT marketplace. There also are multiple ways of earning passively on the Axie Infinity platform. You can earn by lending your Axies to players or rearing Axies.
Despite its many attractive features, AXS currently trades 97% below its November 2021 highs. This and a host of other factors informed our decision to feature it in this list. First is an expected rebound triggered by a recovering crypto market. We also expect revived play-to-earn and NFT crazes to shape its path towards recapturing its all-time high.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
15. The Sandbox (SAND) – Cheap Metaverse Token Trading at a Huge Discount of Over 90%
The Sandbox is one of the most popular and valuable metaverse networks. Like Decentraland, The Sandbox has also scored partnerships with many global brands. These include PWC, Ubisoft, Gucci, Warner Bros, Adidas, Snoop Dogg, and more.
All these have acquired virtual land on The Sandbox and are at different stages of developing them. The Sandbox and its SAND token are also massively popular and command a huge following online.
The Sandbox is also more than a metaverse. It is a play-to-earn platform and an NFT marketplace. SAND has also proved its resilience and obedience to crypto market trends. Not forgetting that it has performed well in the past. Or that it has a decent number of tokens in circulation.
Having considered all these, our analysts agree with most investors that SAND should be trading at the current low. It is massively undervalued – selling more than 95% below its previous all-time high. The developments in this metaverse and a recovering market then tell us that it is primed for a rebound. This makes SAND one of the best-undervalued cryptos to invest in now.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
How do You Determine if a Crypto is Undervalued?
There is no standard measure of determining whether a crypto asset is over- or undervalued. It is highly subjective. In deciding whether crypto is undervalued, you are essentially comparing its current market price with its perceived worth.
The perceived worth is also subjective. It is determined by what you and other analysts or investors believe the crypto should be worth. In arriving at this figure, you will want to consider such factors as the crypto’s demand and usability.
You may also want to consider the usefulness of its blockchain technology. Not forgetting the scale of the real work problem it seeks to solve. A highly popular crypto with a low token supply and community support will always be highly valuable. It also helps if it addresses a real-world problem.
Crypto is then said to be undervalued if it trades at prices way less than this perceived value. It is also said to be undervalued if market conditions or internal challenges push its price way below its previous all-time high. But there is a caveat to this. You must be convinced the altcoin will eventually rebound and recapture this all-time high.
How to Find Undervalued Cryptocurrencies?
Finding undervalued cryptos is not complicated. Below, we look at the top factors to consider to consider when looking for the most undervalued crypto to buy.
Look at its historical price chart
You can tell if a crypto is currently undervalued by looking at its historical price chart. In most cases, an undervalued crypto will be selling at prices way below its previous all-time high.
Compare to market conditions
You can also tell if a crypto is undervalued by assessing the impact prevailing market conditions have had on its price. For example, at the height of a bear market, most coins will be undervalued. However, a coin is only undervalued because of market conditions if its value loss is in tandem with the market crash.
Compare price to network’s value
You may also consider a coin undervalued if its price doesn’t match the value offered by its underlying blockchain. This is especially true if the altcoin doesn’t have a bloated total token supply. In such a case, there is a high degree of confidence the altcoin’s price will correct upwards.
Check independent analyst reports
Expert analysts are always sharing reports on different topics. Search for independent crypto analyst reports discussing the most undervalued cryptos worth buying. You can search for these on social media, personal blogs or websites, and YouTube.
How to Buy the Most Undervalued Crypto – Step-by-Step Guide
You now are familiar with the best cheap cryptos to buy and hold. In this section, we provide you with a tutorial on how to invest in cryptos that everyone considers undervalued. For this example, we teach you how to buy cryptos on eToro – a multi-regulated crypto brokerage. It is one of the few crypto platforms that let you buy cryptos like Bitcoin with PayPal.
Step 1: Register a Free Trading Account
On your browser, open the official eToro website. Alternatively, download the eToro mobile trading app. On either platform, click the “Join Now” icon and complete the user registration form that appears.
This will only seek to capture your basic personal information, trading experience, and source of income. You will also want to come up with a unique username and strong password for this account.
Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.
Step 2: Verify Identity
The account registration process is only complete after you have verified your identity. Simply upload a photo of your government-issued identification document. This could be your passport or driver’s license. You will receive an email notifying you of account approval, typically within 24 hours.
Step 3: Deposit Funds
Log in to the approved crypto trader account and hit the “Deposit Funds” icon on your user dashboard. A funding tab will pop up indicating all the payment methods available to you. Choose one and follow the prompts to deposit at least $10.
Step 4: Find the Most Undervalued Crypto
On the dashboard, hit the “Discover’ icon to reveal the supported financial instruments. Choose ‘Cryptos’ and find the best undervalued assets to buy from eToro’s list of supported digital assets.
Step 5: Buy Undervalued Cryptos
After identifying the undervalued crypto to buy today, hit the “BUY” icon and a trading tab will appear. Use it to customize this trade by indicating how much you wish to invest in the crypto. Then, hit the “Open Trade” button to execute this investment.
Step 6: Set up a free eToro Money wallet
eToro will automatically deposit the cryptos you just purchased into the exchange-provided crypto wallet. To move them to another crypto wallet, you will first need to download and set up eToro Money. This a free and non-custodial wallet app for iOS and Android provided by eToro.
Simply download the free mobile wallet app and use the credentials used in step 1 above to log in. Link the wallet with the trading account and move cryptos. Note that eToro will charge you a crypto transfer fee of 0.5% of the crypto amount (capped at $50). You also can’t move funds back from the wallet to the trading account.
Conclusion – Most Undervalued Cryptos to Buy Right Now
There goes everything you need to know about the most undervalued cryptos to buy right now. We started by saying that crypto isn’t considered undervalued simply because it is selling for pennies. You have to gauge its price against such factors as the value of its blockchain network and previous ATH.
You also have to assess its future value and the chances of rebounding. Having considered all these metrics, we provided you with a brief overview of what we consider the best cheap cryptos. These are grossly undervalued and thus worth buying before the next bull market.
Want to start buying any of these cryptos? Use the step-by-step guide that we have discussed above. It teaches you how to buy cryptos on eToro in minutes. And you only need $10 to get started.
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Cryptoassets are a highly volatile unregulated investment product.
FAQs about the Most Undervalued Cryptos to Invest in Today
What are the most undervalued cryptocurrencies today?
The extended bear market has sent some of the most promising digital assets into the undervalued territory. Our top picks for the most valued cryptos today would be Solana, Ripple, Bitcoin, Shiba Inu and Cosmos. These are all trading at grossly discounted prices.
How do I tell if a coin is undervalued?
There is no standard measure of determining whether a coin is undervalued. You will need to check its historical price chart, assess its future worth, and check the relevance of its blockchain technology. You will also want to assess how prevailing market conditions have affected its price.
Can I make money buying undervalued cryptos?
Yes, undervalued cryptos present you with a rare opportunity to 10x, 100x, or even 1000X+ your investment. The trick, however, lies in identifying a hugely promising crypto whose current price is grossly discounted. Further, ensure there are only a few insignificant factors keeping its price down.
Where to buy the most undervalued cryptos today?
You can buy the most undervalued cryptos on leading crypto exchanges, brokerages, and peer-to-peer trading platforms. We recommend that you try eToro or KuCoin. These are safe, list a wide range of undervalued cryptos, and charge competitively low fees.
Should I invest in undervalued cryptocurrencies?
Yes, consider investing in undervalued cryptos because they have the highest chances of rebound. They present you with the best opportunity to grow your investment at a fast rate with low risk.