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3 Under-the-Radar Cryptocurrencies Poised to Explode in Value
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Every cryptocurrency investor knows of one or two coins that weren’t exactly dominating the scene but seemingly came out of nowhere to make a few lucky people rich.
This is the nature of undervalued cryptocurrencies. Projects like these may have witnessed significant gains in the past, but their past or present price still does not reflect their potential growth or future value. And when you get your hands on one, it is worth HODLing.
Two coins on this list are in the decentralized physical infrastructure networks (DePIN) niche. DePIN refers to blockchain-powered platforms that incentivize users to connect their physical infrastructure and earn crypto tokens, and it’s one of the hottest trends in crypto right now that venture capitalists are heavily obsessed with — and pouring money into. What this means is that DePIN cryptos have a lot of potential for upside.
Here are three under-the-radar coins about to explode in value.
Nosana (NOS-USD)
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Nosana (US-USD) is a peer-to-peer computing power sharing platform. At its core, it’s a decentralized GPU grid that allows anyone to share their idle GPU power — and earn rewards in the form of $NOS tokens. Nosana says contributors can earn 10 to 15x more than traditional cryptocurrency mining pools offer.
The platform works by providing those in need of power with computing resources through GPU nodes that adapt to their needs.
Amsterdam-based duo Jesse Eisses and Sjoerd Dijkstra began working on Nosana in 2021. The two received a grant from the Solana Foundation to embark on a project to “decentralize computing.”
$NOS has won more 1,000% so far, according to Yahoo’s historical data. The coin has added over 290% since the turn of the year and over 1,000% when it consolidated at an average of $6.5 during a few trading days in March.
Nosana is definitely one of the best undervalued or little-known cryptocurrencies to keep an eye on for the rest of the year and beyond.
Rendering (RNDR-USD)
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Render (RNDR-USD) is another DePIN network whose core proposition is very similar to Nosana’s. Render Network allows GPU owners to earn money by renting out their extra computing power to creators who need extra power for rendering tasks. Render Network can be used in media, augmented reality, virtual reality, mixed reality, gaming, media, medical, and more verticals.
Part of what has propelled Render onto the map is the integration of big names in art, robotics, software, and more niches. Some of these include Ari Emmanuel — CEO of Endeavor, the company behind Render UFC It is WWE. Others include Mozilla founder Brendan Eich and artist Beeple, who made $69 million overnight from NFT artwork.
Render has returned 42% year-to-date. But the real price action has happened since the project launched in 2017.
For example, the RNDR token has increased by over 225% in the past year and by 1,125% since July 2022. If you are looking for an undervalued cryptocurrency to invest in, Render is definitely one of the best choices.
Ondo (ONDO-USD)
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Ondo (ONDO-USD) is a decentralized finance (DeFi) platform that wants to “make institutional-grade financial products and services available to everyone.”
The project started in 2021 before launching its first products in 2023, during which time the concept of real world assets (RWAs) was becoming more popular than ever.
Ondo works by allowing users to choose a product they like, after which they connect their wallets and deposit a stablecoin. Users can also transfer USD instead. When you want to cash out your tokens for stablecoins (or USD), you just need to request a redemption.
The project was successful from the beginning, thanks to the approval and funding of Coinbase (NASDAQ:COIN) and major venture capital firms Panther It is Founders Fund.
ONDO is about 300% year-to-date. And considering it only started trading in January, it is one of the most undervalued cryptos currently in existence.
On the date of publication, Hope Mutie did not have (directly or indirectly) any positions in the currencies mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com’s Publication guidelines.
On the date of publication, the editor in charge did not have (directly or indirectly) any positions in the securities mentioned in this article.
Hope Mutie is a writer passionate about finance and crypto. At InvestorPlace, she keeps her finger on the pulse of the stock and crypto markets to create insightful and information-rich content to help investors navigate the market with confidence.
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