The Cryptocurrency sector has grown significantly since 2009, when Bitcoin was launched. Today, there are over 11,000 tokens listed on CoinMarketCap. However, of this number, less than 500 have over up to $100 million in market cap. While this is a small percentage, it’s still a lot to choose from when investing in or buying crypto tokens.
Finding small market cap cryptocurrencies with actual value can sometimes prove challenging. But with diligent research, you can find low market cap altcoins with great potential. In this article, we highlight the top five small market cap Cryptocurrencies that you should research.
MATIC is the native token for Polygon Network, a layer-2 scaling solution for Ethereum. The network was formerly known as Matic Network. The token is an ERC-20 token that’s used for payments and governance on the Polygon network. MATIC has increased in value as more people use Polygon as a solution for Ethereum scalability issues.
As of the time of writing, it is worth $1.334, a drop from its all-time high of $2.68. The total supply is capped at 10 billion tokens, with 6.652 billion already in circulation.
Polygon is a very impressive project with lots of potential. It was launched on Ethereum in 2017 but moved to its network in 2019. With backing from major players in the crypto sector, including Coinbase and Binance. The token is currently ranked 22 on CoinMarketCap, with a market cap of about $8.8 billion.
Monero has been in existence since 2014 and is worth checking out. It is essentially a privacy coin, and its goal is to aid private and anonymous transactions. Even though Cryptocurrencies are believed to hide a person’s identity, it’s quite easy to trace a transaction straight to the source on the blockchain. But Monero uses advanced cryptography to conceal both the sender and recipient on the blockchain.
XMR is currently worth $255.57 and has an all-time high of $517.62. The Monero network is a proof-of-work network using a mechanism known as CryptoNight. The coin has a total supply of 17.991 tokens, all of which are already in circulation. Due to its nature as a privacy coin, some top exchanges, including Coinbase, don’t list it. Its effectiveness as a privacy coin makes it a widely used token for illegal activities. Several governments, including the US, have offered to pay huge amounts of money to anyone who can crack the Monero code. It currently has a market cap of $4.598 billion and is ranked 33 on CoinMarketCap.
Tron is an operating system based on the blockchain. It claims its network can perform 2,000 transactions per second, far above that of Bitcoin and Ethereum. It focuses on entertainment and content sharing. Its native token is TRX which is currently worth $0.09475, a drop from the all-time high of $0.3004.
Tron decentralized the whole content creation and sharing process, allowing creators to connect with fans directly. Thus, it eliminates the need for centralized platforms such as streaming services, app stores, etc., thus, making content sharing cheaper. As a result, the Tron network is a popular blockchain for building and deploying decentralized applications.
Unlike most blockchains, it has a clear roadmap that it follows. The TRX token is essential to the operations of the blockchain network. The maximum supply is 100.851 billion tokens, of which over 71 billion are already in circulation. It has a market cap of $6.79 billion, making it the 27th cryptocurrency by market cap.
FIL is the native cryptocurrency for Filecoin, a decentralized storage system. It had an Initial Coin Offering (ICO) in 2017 before finally launching its mainnet in October 2020. The Filecoin token is currently worth $83.21 and has an all-time high of $237.24.
The idea behind the network is to give people control over their data. The blockchain uses proof of spacetime and proof of replication to secure the network. The maximum supply of the token, which is 103.755 million, is already in circulation. Filecoin currently has a market capitalization of $8.634 billion and ranks 23.
Another small market cap token you should research is VET. The coin, which is currently worth $0.1154, is the native token for VeChain. VeChain is a blockchain-based supply chain platform using Internet of Things technology and distributed governance to solve major problems in the supply chain.
It uses two native tokens, VET and VTHO, to manage and create value on its VeChainThor public blockchain. VET plays an integral role in the VeChain model of disrupting traditional supply models using transparent technology. The maximum supply for the token is 86.713 billion, and 64.316 tokens are in circulation already. It is currently ranked 25th on CoinMarketCap with a market capitalization of $7.419 billion.
These five Cryptocurrencies have something in common; they are backed by blockchains and projects with real use cases. Thus, their value is more likely to increase over time. Of course, there are other Cryptocurrencies worth mentioning, such as Theta, Stellar, among others. Through adequate research, you’ll be able to identify low market cap coins with high potential.