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Although eight of the top ten altcoins by market capitalisation are on the rise, there are many altcoins with smaller market caps that remain undervalued. Take, for example, Cosmos. Also at $26.55, Cosmos is undervalued, and despite being one of the most widely used non-speculative DeFi protocols, it has a large number of retail traders following it.
Furthermore, Cosmos is the de-facto cross-chain bet and the highest exchange coin, with trading rate for the altcoin increasing in lockstep with other top altcoins.
A look at ATOM’s price chart shows that a trend has arisen, and the alt is undervalued even at its current price level. After hovering about $22 for nearly a month, the market finally broke through on April 13th. With Ethereum overbought after the Berlin update, there are altcoins in demand before another rally, including ATOM.
Cosmos’ flagship NFT chains are one of the reasons for the company’s price increase. In reality, the Gravity DEX Testnet rivalry is expected to keep its extended price rally going until April 2021.
Thorchain, Mirror Protocol, and Binance Coin are several such undervalued altcoins. Both of these altcoins have one thing in common: their market capitalisation is skyrocketing. In the case of Thorchain, its integration with Shapeshift triggered a surge in exchange value. In reality, at press time, demand for THOR was higher than previously seen in top markets such as Binance, FTX, and Gate.io.
THOR’s trading rate, on the other hand, had begun to fall in the previous 24 hours. What exactly does this entail? That means THOR is either losing attention, becoming undervalued, or both. Mirror Protocol and BNB are two other undervalued altcoins.
Mirror Protocol’s price was about $9.5 after reaching a high of $12.37. Despite a reduction in trading volume by nearly 20%, it was undervalued. Since this was discovered, now will be an excellent time to collect this token for the new restructuring. However, the price is likely to rise back above its March average.
Binance Coin, on the other hand, has a three-digit short-term RoI of more than 100 percent in 30 days. BNB was undervalued at its press time price of $549, despite its exponential price increase in 2021 in light of the demand it is attracting. As a result, pending some corrections, the altcoin is expected to make a comeback because BNB trading volume and volatility are high.