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Top 10 undervalued cryptocurrencies in 2022

15 Jun, 2022 6 min read
Top 10 undervalued cryptocurrencies in 2022

Many cryptocurrencies have generated large profits for those investors who could recognise their potential and buy them when they were cheap. However, many investors have suffered losses by investing in overvalued coins. Finding undervalued assets is quite a challenge, especially when it comes to cryptocurrencies. In this article, we'll discuss what we believe are the most undervalued cryptocurrencies that have good upside potential.

The most popular cryptocurrencies in 2022

Investments in the most popular cryptocurrencies no longer offer truly impressive returns. Popular cryptocurrencies are generally no longer undervalued, at least in the short term, but they can still be undervalued in the long term. So, if you want to find truly undervalued cryptocurrencies, you should probably look for lesser-known projects.

The most popular cryptocurrencies, excluding stablecoins (as of 09/06/22)

Name

Ticker

Price

Market cap

Bitcoin

BTC

$30,508

$576,092,061,228

Ethereum

ETH

$1,814

$217,186,989,291

BNB

BNB

$292

$47,197,395,896

Cardano

ADA

$0.65

$21,741,135,957

XRP

XRP

$0.40

$19,200,065,575

Major crypto assets by market cap
Major crypto assets by market cap

Should I invest in the most popular crypto?

It depends on your chosen investment strategy. Investments in the most popular cryptocurrencies are usually less profitable but also less risky than those in lesser-known ones. The exception is cryptocurrencies that have gained popularity relatively recently due to hype. Such cryptocurrencies are often overvalued and risky to invest in.

What is undervalued crypto?

Undervalued cryptocurrencies are those whose current market price is lower than their perceived true value. Many crypto investors look for such cryptocurrencies to buy them at a discounted price and wait for them to rise and approach the estimated potential price.

However, this strategy is quite risky, as there's no guarantee that a seemingly undervalued asset will actually rise in price. Besides, due to the high volatility of cryptocurrencies, not only can the price fail to rise, but it can also fall dramatically, leaving investors with a considerable loss.

The most undervalued crypto to buy right now

We have compiled a list of 10 cryptocurrencies that have already gained some popularity but are distinctly undervalued, in our opinion. However, remember that the number of factors influencing a cryptocurrency's price is very large, and their impact can be difficult or even impossible to predict. Therefore, it isn't guaranteed that the cryptocurrencies listed here will actually reach the potential they currently show.

Chainlink (LINK)

Chainlink is a decentralised oracle service that serves as a link between blockchains and the outside world. It allows blockchain apps to access information outside the network. As the blockchain industry's need for such solutions grows, the project looks very promising.

LINK price statistics (as of 09/06/22)

Current price

$9.23

Market rank

#21

Market cap

$9,227,682,139

Circulating supply

467,009,550 LINK

Max supply

1,000,000,000 LINK

Daily trading volume

$764,526,998

All-time high

$52.88 (10/05/21)

All-time low

$0.1263 (23/09/17)

Website

https://chain.link/

Chainlink's website

Avalanche (AVAX)

A decentralised, open-source platform for launching DeFi apps, financial start-ups, trading and other services. As one of the fastest smart contract blockchain platforms on the market, Avalanche has the potential to become one of Ethereum's main competitors.

AVAX price statistics (as of 09/06/22)

Current price

$24.71

Market rank

#15

Market cap

$6,940,579,231

Circulating supply

280,940,196 AVAX

Max supply

720,000,000 AVAX

Daily trading volume

$635,682,242

All-time high

$146.22 (21/11/21)

All-time low

$2.79 (31/12/20)

Website

https://avax.network/

Polkadot (DOT)

A game-changing project that is one of the main contenders to become the basis for Web 3.0. Polkadot is a multichain technology that allows different blockchains to be linked together without affecting the security of individual projects. Already having a quite high market capitalisation, the project token demonstrates the potential to achieve much more.

DOT price statistics (as of 09/06/22)

Current price

$9.18

Market rank

#11

Market cap

$9,068,952,193

Circulating supply

987,579,315 DOT

Total supply

1,103,303,471 DOT

Daily trading volume

$325,629,391

All-time high

$49.69 (15/05/21)

All-time low

$2.69 (20/08/20)

Website

https://polkadot.network/

Theta Fuel (TFUEL)

Theta is a decentralised video streaming network that uses excess bandwidth and processing power of its users to improve video quality. The project developers intend to solve the inherent problems of the video streaming industry and edge out the centralised giants that currently dominate it. If they succeed, demand for TFUEL, the Theta platform's operating token, will increase markedly.

TFUEL price statistics (as of 09/06/22)

Current price

$0.06342

Market rank

#103

Market cap

$336,214,709

Circulating supply

5,301,214,400 TFUEL

Total supply

5,301,214,400 TFUEL

Daily trading volume

$31,487,670

All-time high

$0.6807 (09/06/21)

All-time low

$0.0008894 (13/03/20)

Website

https://www.thetatoken.org/

Theta's website

Chiliz (CHZ)

Chiliz is a project that aims to monetise the link between sports fans and their favourite teams and clubs while enabling the fans to participate in the teams' lives. As the leading blockchain project in the huge sports and e-sports industry, Chiliz has great potential for growth.

CHZ price statistics (as of 09/06/22)

Current price

$0.1204

Market rank

#65

Market cap

$722,302,590

Circulating supply

6,000,378,771 CHZ

Max supply

8,888,888,888 CHZ

Daily trading volume

$87,862,689

All-time high

$0.8915 (13/03/21)

All-time low

$0.004001 (27/09/19)

Website

https://www.chiliz.com/en/

IoTeX (IOTX)

IoTeX is a decentralised platform created as the basis for the Internet of Things. It addresses its pressing concerns, such as security and privacy. Given the enormous growth potential of the IoT market and the rapid development of the project itself, as well as the deflationary model of IOTX tokenomics, its prospects look promising.

IOTX price statistics (as of 09/06/22)

Current price

$0.03443

Market rank

#107

Market cap

$327,904,812

Circulating supply

9,540,779,324 IOTX

Max supply

10,000,000,000 IOTX

Daily trading volume

$64,270,571

All-time high

$0.2611 (13/11/21)

All-time low

$0.001239 (13/03/20)

Website

https://www.iotex.io/

Basic Attention Token (BAT)

BAT is a blockchain-based digital advertising ecosystem that connects content creators, advertisers and content end-users. The digital advertising industry currently has many problems, and BAT aims to solve them. Given the size of the digital advertising market and the need for an ecosystem that can settle its current issues, the BAT token has a good chance of growth.

BAT price statistics (as of 09/06/22)

Current price

$0.3926

Market rank

#75

Market cap

$588,479,512

Circulating supply

1,498,812,101 BAT

Max supply

1,500,000,000 BAT

Daily trading volume

$50,726,615

All-time high

$1.92 (28/11/21)

All-time low

$0.06621 (16/07/17)

Website

https://basicattentiontoken.org/

Elrond (EGLD)

This is another project competing to become the ecosystem for the new internet. The Elrond network is one of the fastest blockchain networks available. On top of that, it offers very low transaction costs.

EGLD price statistics (as of 09/06/22)

Current price

$62.28

Market rank

#41

Market cap

$1,394,378,614

Circulating supply

22,385,826 EGLD

Max supply

31,415,926 EGLD

Daily trading volume

$245,412,323

All-time high

$542.58 (23/11/21)

All-time low

$6.54 (07/10/20)

Website

https://elrond.com/

Elrond's website

VeChain (VET)

VeChain is an ambitious project that began as a platform for supply chain management but later grew into 'blockchain for businesses'. As a leader in its niche, the project continues to evolve.

VET price statistics (as of 09/06/22)

Current price

$0.03045

Market rank

#33

Market cap

$1,958,376,540

Circulating supply

64,315,576,989 VET

Max supply

86,712,634,466 VET

Daily trading volume

$103,734,256

All-time high

$0.2782 (17/04/21)

All-time low

$0.001678 (13/03/20)

Website

https://www.vechain.com/

Stacks (STX)

Stacks is a layer-1 blockchain solution designed to extend the functionality of the first and largest cryptocurrency, Bitcoin. It allows the implementation of smart contracts, decentralised applications (DApps), NFT and DeFi in the Bitcoin ecosystem without needing a hard fork or changes to the original blockchain.

STX price statistics (as of 09/06/22)

Current price

$0.5463

Market rank

#65

Market cap

$719,494,878

Circulating supply

1,317,082,351 STX

Max supply

1,818,000,000 STX

Daily trading volume

$9,408,396

All-time high

$3.61 (16/11/21)

All-time low

$0.04501 (13/03/20)

Website

https://stacks.co/

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