5 Cryptocurrencies Under $1 That Traders Think Could Make You a Millionaire in 2024
Excitement has been building amongst crypto market participants the past week following a significant uptick in price. With that in mind, many investors are eagerly searching for the next millionaire-making project that could boom in the coming bull market.
This article explores the top 5 most promising projects priced under $1 that could make you seven figures.
XRP
XRP has gone from strength to strength lately as Ripple Labs has notched three consecutive victories against the SEC. Firstly, the court ruled XRP not a security, then denied the SEC’s request to appeal the verdict. Finally, the SEC dropped its case against two Ripple executives this week.
These factors indicate the SEC’s weak position, hinting that Ripple Labs may come away with an all-out victory.
If this occurs, we will likely see XRP’s price flourish and reach a tremendous valuation. While it is a long way off, analyst Crypto Assets Guy recently predicted that XRP’s price could reach $100. This means that investors would need to hold 10,000 XRP to become a millionaire.
The analyst is a significant proponent of XRP and is firmly convinced that it will one day become the world’s reserve currency.
Another notable development is that the Bank of Mexico recently announced plans to leverage the XRP ledger. This is a significant move, considering Mexico is one of the U.S.’s biggest trade partners.
Despite these advancements, XRP’s price has struggled on the higher-time-frame charts, priced at $0.52 and down 86% from its January 2018 all-time high (ATH) of $3.84.
Bitcoin Minetrix
It is currently undergoing a wildly successful presale, raising over $1.9 million in less than a month.
Its early success is because it solves Bitcoin’s most crucial issues regarding mining. For instance, Bitcoin mining is criticized for being over-complicated for beginner users. Yet, Bitcoin Minetrix users can get started with a MetaMask wallet and $BTCMTX – no expertise or specialist hardware is required.
Furthermore, its decentralized $BTCMTX token eradicates the risk of cloud mining scams, which have historically acted as a significant barrier to adoption.
The other factor driving presale demand is its massive upside potential. Such a pioneering use case, combined with staking utility and a limited supply, all indicate enormous demand for a potentially scarce token.
As such, countless prominent traders have rallied behind the project. One is prominent YouTuber Michael Wrubel, who recently proclaimed he is firmly bullish on $BTCMTX’s future.
Its current price is $0.0111, but this is set to rise 10% in two days, so investors looking to buy Bitcoin Minetrix tokens at the lowest price must act fast.
Meme Kombat
The platform enables users to gamble on the outcome of AI-generated battles between popular meme characters using the $MK token. This provides a brilliantly engaging way for players to earn crypto and could result in significant utility-driven demand.
It also features a staking mechanism where holders can deposit their tokens and earn a 112% annual percentage yield. As well as providing its community with generous returns, this staking mechanism could bolster the $MK price by reducing the available supply on the market.
Another benefit to the project is that its team is fully doxxed and highly experienced, boasting years of involvement in the business, tech, and blockchain industries. This is a significant advantage, providing transparency and trust not seen with many other meme coins.
Analyst Jacob Bury covered the project recently, noting that it looks primed to explode given its innovative use case and robust tokenomics.
The project is undergoing a presale, raising over $600K in just over three weeks. However, with its next price target at just $1 million, those looking to buy should not wait around.
Arbitrum
With the crypto bull run seemingly months away, one of the most prominent narratives that will begin creeping up is Ethereum’s scalability issue. The best way to solve this is by taking transactions and processing them off the main chain. This is where Ethereum layer 2 networks come in.
It is priced at $0.82 with a $1 billion market cap. The price is down over 50% from its peak of $1.8 in April 2023. However, the project only launched in 2023, so it has never experienced a bull market, providing massive growth potential.
Popular YouTuber VirtualBacon recently highlighted numerous reasons ARB could explode this year, like its vast ecosystem, high scalability, and the network’s revenue.
Stellar XLM
Stellar XLM (XLM) is closely linked to XRP since its founder was one of the founders of Ripple Labs, and it features a use case with some notable similarities. XLM is used for Peer-to-Peer payments that are fast, decentralized, and secure.
Its primary use case is facilitating fast and cheap cross-border and cross-asset transactions, focusing on providing financial services for people without bank accounts. Meanwhile, XRP is used primarily for banking transactions for institutional players.
Yet despite their differences, XLM often pumps at the same times as XRP but holds a significantly smaller market cap. As such, many traders are touting XLM as one of the best coins to make millionaires.
YouTuber No Bs Crypto recently voiced his exit strategy of turning a $10,000 investment into $3.3 million with XLM by 2025.
Currently, XLM is trading at $0.1, with a market cap of $3 billion. The price is up 1% in the last 24 hours, 4.8% this week, but down 3.1% in the last month. It is also down 88% from its $0.9381 ATH in January 2018.