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Highlights
- Major cryptos including Bitcoin are back in the green, bringing some respite for enthusiasts
- Most major cryptos have lost so far in 2022, but the LEO token has resisted this subdued phase
- The below three tokens are all priced very low at the moment in comparison to Bitcoin
Cryptocurrencies are an asset class that can surprise anyone. Bitcoin (BTC) and many altcoins rose sharply at a time when the global economy was reeling under the pandemic. This year has remained quite subdued for the asset class, with Bitcoin leading in terms of price decline.
The month of June, however, seems to have brought back some cheer. As of writing, BTC is trading comfortably over US$30,000, with other assets like Ethereum (ETH) also in the green. What would the second half of 2022 bring for cryptos? Is June hinting toward a better run?
Though nothing can be forecasted when it comes to the ever-volatile cryptos, hereunder are three cheap cryptos to keep an eye on.
1. Shiba Inu (SHIB)
SHIB is one of the most popular cryptoassets globally. Many believe that Tesla’s Elon Musk is a secret admirer of SHIB. Musk is yet to back it overtly, like he did with Dogecoin, but SHIB regularly makes news for some reason or other.
At the time of writing, SHIB has registered nearly 2.5% gain in the past 24 hours. What makes SHIB more interesting is that it is one of the lowest priced tokens among the top 100. SHIB is trading at nearly US$0.00001 at the moment. A meme token, which might find use in tipping on platforms like Twitter, SHIB has lost over 60% this year.
If the current momentum does not subside, SHIB might recover losses in the second half of this year.
Also read: ‘Carbon-free’ WAX (WAXP) crypto up 12% even as Bitcoin is losing value
Data provided by CoinMarketCap.com
2. UNUS SED LEO (LEO)
Among a handful of assets that have appreciated this year is the LEO token.
It started to grab attention in early-February when a major spike in its price was noticed. Linked to the Bitfinex crypto exchange, the LEO token has use within the iFinex ecosystem. It is said that the users of Bitfinex can avail discounts by using the LEO token.
While Bitcoin is presently trading at over US$30,000, and Ether at over US$1,800, LEO is priced under US$5. In terms of market cap, the LEO token is one of the top 20 assets, according to CoinMarketCap.
3. Cronos (CRO)
Cronos has links with another major participant in the crypto world – Crypto.com exchange. The CRO token is native to the Cronos blockchain.
Another cryptocurrency linked to major exchange – BNB of Binance – is one of the top five cryptos by market cap. The price of BNB crypto as of now is over US$300. Comparatively, the CRO token’s price is under US$0.2, and it ranks 19th in terms of market cap.
A few analysts say that if the project is strong and widely adopted, the linked crypto might shine in the long-run. By that logic, Crypto.com exchange’s wide adoption might give a boost to the CRO token.
Bottom line
June has come as a month of a little respite for crypto enthusiasts. The above three tokens might not be as popular as BTC or ETH, but they make for a close watch. Altcoins have the ability to defy the odds and rise independently. The LEO token has corroborated this in 2022.
Also read: What are stablecoins? Top 3 assets by market cap in this category
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