Rock Bottom: Previously Hot Projects Now on Sale for 2 Satoshi
The altcoin bear market has brought down prices significantly, with more coins reaching rock-bottom prices against Bitcoin (BTC).
The overall market cap dominance of smaller altcoins and tokens has been sinking, showing those assets were the worst hit by the bear market. A combined loss of trust, as well as reliance on small-scale exchanges, has depressed prices to extremely low positions.
Smaller altcoins have failed to rally against BTC for a long time. Now, assets with a price of 1-2 Satoshi remain the rock-bottom place of bets. Even a small rise means a 100% gain, an extremely risky trade especially given low volumes.
PumaPay (PMA) is a previously overhyped token that now stands at 2 Satoshi. Another payment system, PundiX (NPXS) trades at the same price. Both assets remain volatile, with hikes to a slightly higher range. At this point, it is theoretically possible that those assets rally, but the price has remained stagnant, with volumes next to zero.
Most coins and tokens at below 5 Satoshi are relatively unknown. But among better-known projects, Bytecoin (BCN) is now at 4 Satoshi. The BitTorrent Token (BTT), one of the prominent IEOs on Binance, also stands at 4 Satoshi.
Even lower than that, the price of the HEX asset also makes use of extremely low BTC positions. The coin has settled at 1 Satoshi, with the potential for cyclical gains. The choice to issue a 1-Satoshi asset was also used for the WINk (WIN) projects, where rock-bottom prices guaranteed the IEO would be a success.
The extremely low-priced assets offer one of the relatively easy ways to bet in BTC terms. However, those coins remain risky as volumes may diminish overnight. Some of the rock-bottom assets are based on Binance, and offer a potential bet the price would reawaken.
Extremely low altcoin prices may still be meaningful, and a tool to “stack sats”. One of the beliefs for the future is that BTC would appreciate wildly, and even Satoshi measurements would be meaningful. In 2020, it is uncertain if small altcoins would survive, but when it comes to risky trades, coins and tokens under 5 Satoshi offer a leeway for growth.
Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.