The 10 Most Undervalued Cryptocurrencies of 2019

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The prevalent bearish market environment gives the unique opportunity to invest in cryptocurrencies. However, to minimize our risk and to maximize our returns we need to look for the most undervalued cryptocurrencies. Unfortunately, this is no easy task. No need to worry. We have compiled the most undervalued cryptocurrencies in this article and explained in great detail why they are so.

Without further ado let’s get going!

Looking for most undervalued cryptocurrencies

Introduction

The technology that underlies cryptocurrencies is oftentimes hard to understand. In fact, it is so hard that even the greatest minds in finance, business and economics are having a hard time wrapping their heads around this unfamiliar and unusual asset type. In addition to this, they cannot seem to understand where the value of cryptos is coming from. They are quick to dismiss them as soon-to-fail millennial’s monetary experiments, bubbles, Ponzis schemes, and even outright scams.

Unfortunately, for many cryptocurrency projects, this assessment came out to be painfully true. Due to predominantly bearish market conditions as well as the prevalence of low-performing, low-quality, and low-potential cryptocurrency initiatives. 

To make matters worse there are already around 3,000 different digital assets in circulation to date and growing by the day.  This makes the selection process increasingly more difficult for prospective investors. Moreover, most existing metrics and analytics tools from traditional financial markets simply do not apply. As a result, pundits coming from traditional finance and economics are having difficulty ascertaining its underlying value.

While this may present a gloomy outlook in this budding industry, we can view this as an opportunity. An opportunity to further innovate by inventing and discovering new tools and metrics that will enable investors to determine the underlying value of this emerging asset class.

Undoubtedly, the current bearish market condition puts us in a unique position to leverage many undervalued cryptocurrencies, with the hope that these assets will explode in 2019 going into 2020. However, the main challenge here is how do we determine which among these coins are the best cryptocurrency to invest in now. NO worries, we have done much of the heavy lifting and compiled a list of the most undervalued cryptocurrencies in 2019.

Methodology

Before we go into the details list of the most undervalued cryptocurrencies, it is important to explain how the list was created, in order to show that our list of undervalued cryptocurrencies was not arbitrarily created or copied from a source. In addition, this will also give readers the opportunity to learn how to discover the underlying value of cryptocurrencies using the metrics and procedures that were used in this article. Keep in mind that these methods procedures are not meant to serve as investment advice or a substitute for professional consultation. It must be taken as educational material only or investment opinion. Remember, due to the nature of cryptocurrencies they are considered high-risk investments and may result in the loss of all capital.

Initial list from Top 200 Cryptocurrencies by Market Cap

undervalued cryptocurrencies coinmarketcap

The most undervalued cryptocurrencies list started by taking a look into the top 200 cryptocurrencies by crypto market capitalization, taking note of the more familiar cryptocurrency projects that have shown relative success and traction in the past. Since the market is generally down from their all-time-highs, it can be argued that most of these digital assets are undervalued and sooner or later will be due for recovery, because of these two significant facts— first, most crypto investors that served as the catalyst for the late 2017 and early 2018 crypto bull run are still reeling from loses and still hesitant to re-enter the market.

Second, crypto mass adoption is not yet here, it is not anymore a question of if it will happen but when it will happen. There are increasing signs that the marketing is nearing its next bull run phase, the entry of more institutional investment grade products and services. Furthermore, the BTC block reward halving event will serve as a catalyst for a more positive price movement and thus may encourage 2017-2018 investors to come back. This is on top of the expected new investors (both retail and institutional). 

Selecting the popular most undervalued cryptocurrencies

After taking notes of some of the more interesting projects based on their market cap ranking, a list was created from over 20 recent curated trending articles with topics like “most undervalued cryptocurrencies,” “what altcoin will explode,” “Top 10 crypto coins 2019” and “best crypto to invest in now.  This was done to get a list of cryptocurrencies that the public thinks is undervalued. Moreover, extra care was taken to ensure that these online sources were honest opinions and not commissioned writings. Finally, we have added our own curated list based on our own due diligence and experience interacting with the project’s team, community and technology. The end result was a list of over 73 digital assets that we will put to the test.

10T’s selection process

To further trim down this list we created a vetting process that helps us identify the most undervalued cryptocurrencies in 2019 going into 2020. We called this vetting process the 10T’s (Ten T’s) which means Team, Technology, Tokenomics, Trilemma, Threats, Tactics,  Triggers, Traction, Technicals, and Thoughts. 

Team & Technology

The very first thing we look into is the Team behind the project. We believe that if the team has a history of proven successes in the past it is highly likely that they will succeed in the future. Then, we inspect the Technology they offer and identify what makes it unique, useful and innovative. 

Tokenomics

Afterwhich, we look into its Tokenomics to assess its role, features, and purpose. Keeping in mind that a great number of the project fails because the team fails to connect the utility of the token to its business model other than as a  capital funding vehicle and speculative asset with no underlying value. 

Trilemma

Trilemma refers to the “blockchain trilemma” describing the difficulty encountered by developers who want to leverage the power of distributed ledger technology (DLT)— security, decentralization, and scalability. This is the main value proposition DLT in the first place and it is important to see how the project will be able to achieve the three. 

Threats & Tactics

Subsequently, we also looked into the Threats the projects might encounter such as regulatory uncertainties, compliance difficulties, competition, technical challenges, and other risks. To make sure that the team is achieving what they have set out to do we also inspected the Tactics and strategies they have implemented to reach key milestones in their project. Noting if targets and deliverables are accomplished effectively and in a timely manner.  

Triggers

Triggers or catalysts are important developments or events within the bigger cryptocurrency environment.  This could be a sudden regulatory change where the project is currently operating or a macro socio-economic event that may affect the demand for the project’s digital asset. Furthermore, it may also be a significant price movement of the crypto market, a major upgrade or product release from the team or a major partnership with a highly influential industry leader.

Traction & Technicals

In addition to triggers, we also checked the level of Traction the team has created for the project. We check its social media presence, community size, business partnerships, number of users and the demand for its products and services. To get a better picture of the price movement of the project’s cryptocurrency we also made some Technical analysis to look for signals and patterns emerging and determine if it is the proper time to take up positions in the said asset.

Thoughts

Finally, we investigate the general sentiment of the crypto community towards the project by asking for community member’s Thoughts about the project as well as peering into public commentaries on blogs, articles, and the project’s social media accounts.

By using our 10T’s metrics we were able to systematically reduce the number into 10 which we believe are the most undervalued cryptocurrencies and will enable our readers to identify for themselves the best cryptocurrency to invest in now depending on their own preferences and targets. Now without further ado let’s head over to the list were we reveal what altcoins will explode and the best cryptos for 2020. The Coins were not arranged in any particular order and should not be taken as a ranking list. 

Top 10 Most Undervalued Cryptocurrencies 2019-2020

1. Bitcoin (BTC)

Bitcoin one of the most undervalued cryptocurrencies

If you are going to invest in cryptocurrencies then why not invest in the most well-known, well-established, most liquid digital asset that has always passed the test of time. This cryptocurrency needs no further introduction, it is the first cryptocurrency that has captured the hearts and minds of people seeking a viable alternative to the current fragile and unsustainable financial banking system that almost seen its total collapse in 2008. 

The identity of the original architect of this technological wonder has never been revealed but his or her legacy continues to move forward, powered by the ever-supportive bitcoin community and continually being developed by some of the most talented and most experienced blockchain developers in the space. 

It is widely considered as the gold standard for cryptocurrencies in terms of being store-of-value. Scalability remains a challenge for this project becoming a major barrier for mass adoption, but despite this weakness, it remains the most widely accepted cryptocurrency in the world and recognized as the most secure distributed ledger network the world has ever seen. 

Its consensus mechanism, Proof-of-Work, is still considered the most secure consensus protocol but deemed as an energy-wasting activity that already surpasses the consumption of some small countries. However, continuous technological improvements of crypto mining equipment, as well as the increasing use of surplus sustainable energy resource for mining operations, have mitigated the risk of Proof-of-Work (PoW) energy glut.

General Information

Name (Ticker): Bitcoin (BTC), (XBT)

Total Supply: 21,000,000 BTC

Price:   $8,382.03 USD

Circulating Supply: 17,987,900 BTC

All-Time-High: $19,870.62 USD

Market Cap:   $150,775,185,969 USD

All-Time-Low:       $0.010 USD

Consensus Protocol: Proof-of-Work (PoW)

Pros

  • Functions as the reserve currency in the cryptocurrency space for being the most liquid crypto and having the largest market capitalization.
  • Potential to become Gold 2.0
  • Well established and most recognizable digital currency.
  • Scarce total supply with only 21M will ever exist.
  • Superior network security that has never been compromised 
  • Continuously being developed 
  • First mover advantage

Cons

  • Scalability remains an issue and major barrier for mass adoption
  • Power consumption of its consensus mechanism seen as a threat to the environment and renewable energy resources.
  • Transaction fees are generally expensive.
  • Transaction delays may expose users to unnecessary risks.
  • Unfairly being tagged as an enabler for illicit activities.
  • Too volatile price movement

Why this is one of the most undervalued cryptocurrencies:

  • It is the number one cryptocurrency in the world that has seen many bull and bear cycles which seems to be ripe for the next bull run.
  • Increasing infrastructure to support mass adoption both for retail and institutional investors e.g. custody solutions, traditional-like investment vehicles
  • Regulatory clarity is slowly being achieved in many countries 
  • It is the most liquid cryptocurrency in the world with most trading pairs
  • Increasingly becoming a “Safe Haven Asset” it has the potential to usurp Gold to be the go-to to hedge against the risk of macroeconomic uncertainties.
  • It is the cryptocurrency most institutions, high-net-worth individuals and family offices are familiar with and interested in. 
  • Second layer scalability solution Lightning Network gaining traction
  • Block rewards halving event to happen in less than 7 months which, based on historical data, serves as a catalyst

2. Ethereum (ETH) 

Ethereum one of the most undervalued cryptocurrencies

If Bitcoin is the first decentralized application that popularized the application of blockchain, Ethereum is the first decentralized platform that features Smart Contract functionality enabling developers to build on top of its network. If Bitcoin is the first “programmable money” then Ethereum is the first “programmable blockchain.” Ethereum was initially released by Vitalik Buterin in 2013 after his proposed scripting language to enable decentralized applications (dApps) was unable to gain support from the wider Bitcoin community. 

Dubbed as the universal world computer, it is widely considered as the key enabler for the prevalence of the new crowdfunding mechanism dubbed as Initial Coin Offering (ICO) as well as the main reason for the acceleration of the development of the decentralized applications (dApps). It has been touted as the next evolution of Blockchain technology or Blockchain 2.0 that has greatly expanded the utility of blockchain technology beyond the finance sector. 

General Information

Name (Ticker): Ether (ETH)

Total Supply:

Price: $184.53 USD

Circulating Supply:     108,114,062 ETH

All-Time-High:           $1,448.18 USD

Market Cap:           $19,949,805,779 USD

All-Time-Low:     $0.15 USD

Consensus Protocol: Proof-of-Work (PoW)

Pros

  • 2nd highest market capitalization 
  • First mover for platforms issuing Smart Contracts
  • Decentralized development and Organization through EIPs
  • One of the more secure and decentralized Blockchains due to its use of PoW consensus protocol.

Cons

  • Scalability remains its main issue
  • Solidly Programming language difficult to use and not popular.
  • Transaction fees exponentially increase during network congestion
  • A public visible smart contract may pose a risk to smart contract issuers.

Why this is one of the most undervalued cryptocurrencies:

  • First mover in the smart contract platform
  • An increasing number of financial instruments to support ETH
  • Smart Contract platform for many useful blockchain initiatives
  • Despite its scalability weakness, it has remained the dominant platform of choice to issue smart contracts for dApps and crowdfunding initiatives.
  • It has the most number of cross-industry partnerships for dApps deployment with reputable industry-leading companies around the world.
  • It has been publicly classified as not a security by a representative of the U.S SEC which has been confirmed by the Crypto Rating Council. 
  • Ethereum developers have been actively finding scalability solutions such as migrating to proof of stake mechanism and side-chain solutions.
  • Soon-to-be-released Ethereum 2.0 major catalyst for more upside price potential.

3. Cardano (ADA)  

undervalued cryptocurrencies - Cardano

Like Ethereum, the team behind Cardano positions its project as a Smart Contract platform, differentiating itself by featuring more advanced features. Its dev team that consists mostly of established engineers, researchers, businessmen, and professionals claim that it is one of the first distributed ledger technology that used scientific and research-driven development approached. It is widely considered as a third-generation blockchain (blockchain 3.0) since it incorporates all the best qualities of previous generation blockchains and adding new innovations to make it more secure, decentralized, scalable, sustainable and useful.

The team is led by Charles Hoskinson, one of the most influential and respected blockchain professionals and one of the co-founders of the Ethereum blockchain. Cardano’s platform and cryptocurrency were developed using Haskell, one of the most secure software languages which adds an additional layer of security. Unlike Ethereum, Cardano is already using the Proof-of-Stake consensus mechanism which enables the team to introduce secure voting, scalability and enable the team to introduce flexible incentive schemes. 

General Information

Name (Ticker): Cardano (ADA)

Total Supply: 45,000,000,000 ADA

Price: $0.0403 USD

Circulating Supply: 25,927,070,538 ADA

All-Time-High:     $1.18 USD

Market Cap: $1,056,868,964 USD

All-Time-Low:       0.00 USD

Consensus Protocol: Proof-of-Stake (PoS)

Pros

  • The highly competent and reputable development team
  • Continuous and consistent improvement of the project
  • The more power-efficient PoS consensus protocol
  • Established relationships with regulatory authorities
  • Scalability, interoperability, and sustainability is a priority

Cons

  • The depth and scope of the project are so huge that the team might not be able to deliver them completely.
  • The deliberate pace of development due to continuous improvement and testing slows project progress.
  • The relatively slow roll-out of real-world applications built on top of the platform.

Why this is one of the most undervalued cryptocurrencies:

  • Most Cardano holders hail from Japan, the country that is most likely to achieve cryptocurrency mass adoption that will drive the demand for ADA which is finite.
  • It has the same value proposition of Ethereum with other value-adding features such as the better implementation of Smart Contracts and a more scalable consensus protocol.   
  • Interoperability is becoming one of the most sought after features in blockchain, Cardano is one of the first that has been developing this feature. 
  • The team is continuously adding the best features and framework into its platform.
  • After 5 long years of testing and improvements, some high profile partnerships are finally becoming a reality with most features on their final stages of development.

4. EOS (EOS)

undervalued cryptocurrencies - EOS

The project is positioned to be a highly scalable and cost-efficient smart contract platform. Its development was headed by Dan Larimer who has been credited in creating Delegated Proof-of-Stake (DPoS) the consensus protocol of EOS. It has been described as a decentralized operating system capable of running enterprise-grade and industrial-grade decentralized applications. EOS governance structure follows a decentralized autonomous corporation model. 

High scalability is achieved through its blockchain structural design which permits it to scale vertically and horizontally, enabling the platform to reach millions of transactions per second (theoretically) and do away with transaction fees. EOS is used as the main utility token of the EOS platform to purchase computing resources as well as to serve as its main currency for its DEX and dApps.

General Information

Name (Ticker): EOS (EOS)

Total Supply: 1,032,253,895 EOS

Price:   $3.09 USD

Circulating Supply:   935,553,883 EOS

All-Time-High: $19.35 USD

Market Cap:   $2,986,208,298 USD USD

All-Time-Low:   $1.55 USD

Consensus Protocol: BFT-DPoS

Pros

  • It has the potential to usurp Ethereum as the leading smart contract platform.
  • Scalable, flexible and powerful smart contract platform
  • Feeless transactions
  • Relatively liquid market with healthy daily trading volume.
  • A very highly talented dev team
  • Many high profile partnerships
  • Human readable address

Cons

  • Paid resource requirements contradict the feeless transaction claims. E.g RAM.
  • Decentralization challenges exist within the organization in terms of governance and block creation.
  • Account/wallet creation payment requirement.
  • ICO has been rated by the Crypto Rating Council to be a security

Why this is one of the most undervalued cryptocurrencies:

  • The year-long EOS ICO raised more than $4.1 billion USD enabling the dev team to create a truly impressive blockchain and high-quality dApps built on top of it.
  • There is a healthy number of various dApps built on top of the platform including Everpedia the blockchain-based Wikipedia and the soon-to-be-released Voice social media network from EOS.IO which will significantly increase the utility of EOS.
  • EOS.IO has recently settled with the U.S. SEC after an unregistered ICO after paying $24 million civil monetary penalties effectively closing the issue.
  • Several improvements over governance and resource management to improve operational efficiency and cost-effectiveness.
  • Integration with USDT, largest stablecoin, possibly increase demand for EOS

5. TRON (TRX)

undervalued cryptocurrencies - Tron

It is another Smart Contract platform that primarily focuses on decentralizing the internet by leveraging the power of blockchain technology. It offers its own Tron Virtual Machine that is reportedly 100% compatible with Ethereum’s Virtual Machine, making it possible for Ethereum dApps to work on TVM with minimal revisions. Aside from having an Ethereum compatible virtual machine it uses the Delegated Proof-of-Stake consensus protocol that allows it to reach high bandwidth with transaction speeds reaching over 2,000 Transactions per second (TPS). Having such features it was able to attract many existing Ethereum developers and projects into its fold. 

By offering its developers an integrated suite of development tools, a very lucrative incentive plan and its tireless marketing initiatives Tron has become one of the biggest and most active blockchain platforms in the dApps sector. Its relentless efforts for partnerships, collaborations, and strategic acquisitions have put them in a unique position to become the leading smart contract issuance platform 

General Information

Name (Ticker): TRON (TRX) Total Supply: 99,281,283,754 TRX

Price: $0.0159 USD Circulating Supply:    66,682,072,191 TRX

All-Time-High: $0.39 USD Market Cap: $1,060,581,544 USD   

All-Time-Low: $0.0016 USD Consensus Protocol: DPoS

Pros

  • Scalable and cost-effective smart contract platform.
  • Easy importation of Ethereum based smart contracts.
  • Complete set of programming tools for fast and easy dApp development.
  • Very strong marketing initiatives
  • Fastest growing dApps platform
  • Many Partnerships and collaboration

Cons

  • Parts of Tron Whitepaper allegedly copied from other blockchain projects.
  • Lack of dApps diversity
  • Most technological features seem to mimic other technologies particularly Ethereum and EOS.

Why this is one of the most undervalued cryptocurrencies:

  • TRX is down 93.2% from all-time-high despite improving fundamentals such as 2nd layer scaling solution Sun Network, BTFS release and BLive (BitTorrent-based technologies).
  • Very strong marketing team and social media presence 
  • Strong, passionate and supportive Tron community.
  • BitTorrent-based (Tron acquisition) TRX infused products and services launching soon.
  • TRC20-based Tethers (USDT) that are faster and cheaper to move.
  • Holdings TRX enables users to passive income through the monthly BTT airdrops.
  • For a limited time holding TRC20 USDT earns holders 16% APR

6. 0x (ZRX)

0x protocol

This project aims to provide users with an open standard and permissionless network protocol that provides a common infrastructure to facilitate the almost frictionless peer-to-peer exchange of Ethereum-based tokens. It serves as a common building block for interoperability among decentralized exchanges by employing off-chain transactions relayers and Ethereum smart contracts that are open-source and can be connected to any dApp that has exchange functionality. DApps using  0x protocol will be able to access public liquidity pools or if need be create their own liquidity pool and charge transaction fees. 0x also features decentralized governance that enables it to securely and continuously integrate updates without any service disruptions and without end-users knowing it. 

The ZRX token functions as governance tokens that could power a decentralized update mechanism that will enable the system to integrate updates into the protocol without disrupting services and protect stakeholders. It also serves as user payments to relayers who may need to shoulder operational overhead and future-proof the protocol implemented.

General Information

Name (Ticker): 0x (ZRX)

Total Supply: 1,000,000,000 ZRX

Price: $0.259 USD

Circulating Supply601,198,566 ZRX

All-Time-High: $2.57 USD

Market Cap: $155,856,624 USD   

All-Time-Low: $0.067 USD

Consensus Protocol: PoW

Pros

  • Easily accessible open smart contracts that any dApp can use.
  • Fast settlements and low transaction fees for market makers.
  • Enables Relayers to create their own liquidity pools and charge users for fees.
  • Provides interoperability through the use of a shared protocol layer
  • Network effects creation around liquidity
  • Modular design making new features pluggable

Cons

  • Side deals vulnerability where relayers don’t get fees by abusing point-to-point orders.
  • Maker griefing vulnerability happens when funds are moved prematurely that is supposed before the transaction is consummated wasting takers gas.
  • Ethereum scaling limitation carries over to 0x

Why this is one of the most undervalued cryptocurrencies:

  • Decentralized exchanges are seen to be the future for a truly decentralized marketplace.
  • 0x is in the unique position to introduce interoperability among ERC20 decentralized exchanges.
  • Built-on top of the Ethereum smart contract platform it will also benefit from the Ethereum scaling solutions that will be implemented in the near future.
  • The chance that Proposal for Stake-based Liquidity Incentives will be approved

7. ChainLink (LINK)

ChainLink

It acts like data bridges between decentralized networks such as the blockchain to outside (off-chain) resources. It serves as a medium for Smart Contracts to autonomously communicate with various external resources.ChainLink is commonly described as a decentralized oracle service providing external data required to execute a smart contract instance when predefined conditions are met. This simple but very important functionality allows blockchain-based applications to access off-chain data by requesting a contract to ChainLink’s network. 

The process by which how this is done is simple, once a user of a blockchain-based application requests data from an outside resource from its own siloed network, ChainLink will match the request with the most appropriate oracles in a decentralized manner. Traditional Oracles tend to be centralized and requires a certain degree of trust from a third party to provide critical information. ChainLink aims to provide a decentralized alternative way by incentivizing participants to provide smart contracts with access to external data feeds through a network of decentralized oracles on the Link Blockchain to verify and forward critical information.

General Information

Name (Ticker): ChainLink (LINK)

Total Supply: 1,000,000,000 LINK

Price: $2.57 USD

Circulating Supply: 350,000,000 LINK

All-Time-High: $4.75 USD

Market Cap: $900,261,381 USD   

All-Time-Low: $0 USD

Consensus Protocol: PoW

Pros

  • ChainLink offers a simple but critical service for the dApps space.
  • Partnered with many reputable and industry leaders worldwide.
  • It provides blockchain devs a reliable and decentralized way of getting off-chain data.
  • The ChainLink parent company has a strong history of developing and delivering secure and scalable enterprise software.
  • Offers general data interoperability 

Cons

  • More marketing needed to attract their primary market— institutions and industry leaders.
  • High profile partnership gives ChainLink tokens massive upside potential, downside potential is the same when it fails.
  • ERC20 scaling woes may directly affect the project’s performance.

Why this is one of the most undervalued cryptocurrencies:

  • ChainLink enjoys the first-mover advantage and captured a vast majority of relevant partnerships within and outside of the blockchain industry.
  • “Herd mentality” is in full effect as more reputable and industry leaders are onboard.
  • The importance of decentralized oracles not yet prevalent
  • There is positive momentum in the growth of blockchain technology, services like ChainLink is essential

8. Basic Attention Token (BAT)

BAT

This was developed primarily to address the problems in digital advertising that has been plagued with non-value adding intermediaries and fraud that hurts not only the advertisers but publishers and users as well. It is intended to be used as the utility token for an open-source, decentralized and efficient digital advertising platform that leverages the power of blockchain technology. The development of BAT was spearheaded by Brendan Eich the creator of the JavaScript and co-founded Mozilla & Firefox.

The first use case of BAT is its integration with a new privacy-centric web browser called Brave that has built-in ads blocking feature as well as an opt-in ad privacy feature and revenue sharing program. Brave also allows content creators an innovative way of monetizing their content by becoming Brave verified publishers that enables them to receive BAT directly from their website and supported social media platforms. Brave is developed by American software company Brave software Inc which is also founded by Brendan Eich, CEO of Brave Software Inc.

General Information

Name (Ticker): Basic Attention Token (BAT)

Total Supply: 1,500,000,000 BAT

Price: $0.2012 USD

Circulating Supply:     1,350,250,672 BAT

All-Time-High: $0.97 USD

Market Cap: $271,760,779 USD   

All-Time-Low: $0.069 USD

Consensus Protocol: PoW

Pros

  • Excellent development team
  • Superb partnerships 
  • Enables content creators a new way to monetize their content.
  • Eliminates intermediaries that drive up ad cost.
  • Users get their share of the pie by getting paid for their attention.
  • Brave offers superior and relevant functionalities on top of its blockchain-enhance features.

Cons

  • Reliance on the success of the Brave browser which faces stiff competition from various well-established players.
  • Requires the same behavioral changes  of consumers to be effective
  • Ethereum’s scalability issue may affect the project’s initiative for mass adoption.

Why this is one of the most undervalued cryptocurrencies:

  • Brave is gaining great traction which is impressive considering it is only one part of BAT’s ecosystem that is still under development.
  • BAT looking into integrating with other dApps including other browsers that will increase the utility and demand for its tokens.
  • Since it is an ERC20 token, the many forthcoming protocol improvements on the Ethereum network may further increase BAT’s upside potential.
  • Development team hard at work to deliver value-adding features into BAT’s ecosystem such as decentralized VPN,  IPFS support and skSense, a novel privacy-preserving mechanism for bot detection in smartphones.

9. Enjin Coin (ENJ)

ENJIN

This is the crypto coin of Enjin, one of the world’s largest gaming community platform that has over 20 million registered users and a whopping 250,00 gaming communities. It has established itself as one of the leading blockchain games ecosystem developers by offering a suite of products and services that caters to both gamers and game developers. Enjin’s blockchain platform has been described as a blockchain PaaS (Platform as a Service) that enables game developers to leverage blockchain technology and integrate blockchain-enhanced assets without needing to build or maintain blockchain infrastructure and minimize the need to write blockchain-related code. This is comprised of Trusted Cloud, Platform API, Wallet Daemon, and Blockchain SDKs.

Enjin also empowers gamers with true ownership of digital assets with client-facing tools that help them manage, send, receive, trade, store and explore these assets. These tools include Enjin Network, blockchain explorer EnjinX, Enjin Wallet and Efinity, a game-channel network for performing highly scalable gaming transactions.

General Information

Name (Ticker): Enjin Coin (ENJ)

Total Supply: 1,000,000,000 ENJ

Price: $0.0644 USD

Circulating Supply:         776,656,142 ENJ

All-Time-High: $0.53 USD

Market Cap:   $50,018,553 USD   

All-Time-Low: $0.0080 USD

Consensus Protocol: PoW

Pros

  • Enable true ownership of in-game digital assets 
  • Common trading and exchange infrastructure for virtual gaming goods.
  • Offers developers an easy and cost-effective way to leverage blockchain technology
  • Enjin Coin SDK includes  a decentralized payment gateway

Cons

  • Ethereum’s scalability weakness may hinder the capacity of ENJ to achieve mass adoption.
  • Additional complexity for developers in integrating free-market models into an in-game economy.
  • Gamers might not be ready with the additional responsibilities associated with the usage of blockchain-enhanced features

Why this is one of the most undervalued cryptocurrencies:

  • The projects seek to disrupt the $152 billion USD gaming industry that continues to grow and create revenue-generating allied industries. 
  • It provides the ever-increasing gaming community a way to establish true ownership of virtual items and characters that they have spent money and time to accumulate.
  • Enables gamers to earn and profit from their game assets or re-use them in other games
  • The Enjin platform introduces a “trust” layer into the space of gaming and game development adding interesting, unique and value-adding dynamics in gaming. 
  • Blockchain-enhanced gaming is gaining traction and might be on its tipping point.

10. Steem (STEEM)

Steem

It is an open-source and scalable blockchain protocol that is used to store and access immutable content. STEEM, a fast and feeless digital token, is used to reward users of Steem-based applications for participating in an activity called Proof-of-Brain (PoB). It is a process of partaking in the rewards pool by contributing valuable content and curating the value of the contributions of others. The Steem blockchain is one of the fastest and most efficient blockchains in existence able to generate new blocks every 3 seconds and scale to support over 10,000 or more transactions per second (TPS). This was possible through the use of Delegated Proof-of-Stake invented by Steem’s original Chief Technology Officer and co-founder Daniel Larimer.

Steem has evolved into a very powerful platform for multiple user-facing applications that is capable of storing user content, social information, account information, JSON metadata and many more. The impending release of Smart Media Tokens protocol (SMT) will enable users to create their own STEEM-like tokens on top of STEEM blockchain effectively making it a Smart Contract Platform and increasing further the utility of STEEM.

General Information

Name (Ticker): Steem (STEEM)

Total Supply: 364,746,655 STEEM

Price: $0.1392 USD

Circulating Supply:      347,772,561 STEEM

All-Time-High: $8.57 USD

Market Cap:     $48,441,570 USD   

All-Time-Low: $0.0691 USD

Consensus Protocol:     DPoS

Pros

  • High throughput blockchain that can reach 10,000 TPS.
  • Feeless transactions
  • Human readable addresses
  • First mover’s advantage in blockchain-powered social media niche.
  • One of the most actively used blockchains in the world
  • Highly active community members

Cons

  • Perceived centralization issues persist for using DPoS
  • Delayed delivery of key features
  • Steemit Inc., the developer of the main dApp of Steem having a hard time to keep afloat due to prevailing market conditions.
  • The current price does not reflect the utility and potential of the project.

Why this is one of the most undervalued cryptocurrencies:

  • Protocol improvements might rekindle the interest of crypto investing community
  • Smart Media Tokens, a token protocol for content websites, apps, online communities and guilds seeking funding, monetization and user growth, will soon be released.
  • Improved onboarding initiatives to increase steem-based dApp users
  • STEEM is one of the most undervalued cryptos in the market today which has massive potential for upside price movement in the near future. 

Final thoughts and conclusion

The ever-increasing number of cryptocurrencies and speed by which this nascent industry changes made this endeavor even more difficult. For this reason, we have recalibrated our selection process to concentrate on crypto projects that we believe will be the most profitable for the rest of 2019 going into 2020. 

Peering into the different undervalued crypto-list of others and inspecting the different ratings of projects from various crypto rating agents made us realize the great disparity between their rankings and ratings. Despite this fact, we did however noticed common cryptocurrencies that consistently appeared in their lists or ranks high. Moreover, most of these cryptos also appeared on our list applying our own 10T’s metrics which we described earlier. These were the first 5 cryptocurrencies we shared aboveBitcoin (BTC), Ethereum (ETH), Cardano (ADA), EOS (EOS) and TRON (TRX).

4 out of the first 5 cryptos included in our curated list are smart contract platforms. Confirming our initial suspicion that generally, blockchain projects that offer smart contract functionality given better value. We believe that the rationale behind this is the potential of these platforms to be the base-chain where the next killer-app will be hosted. To prove this point, just take a look at the next 5 cryptos on our list0x (ZRX), ChainLink (LINK), Basic Attention Token (BAT), Enjin Coin (ENJ) and Steem (STEEM)

Clearly, all of them are ERC20 tokens under the Ethereum Network except for STEEM. Interestingly STEEM will soon undergo a protocol upgrade that will allow it to offer Smart Media Tokens Protocol that enables STEEM to offer smart contracts functionality further strengthening our point.

The Million-Dollar Question…

Finally, If we had to choose one what will it be?

Surprisingly this question is not that hard to answer.

Bitcoin (BTC) will always be the top choice of most cryptocurrency investors.

It is the most liquid, most recognized, most supported and most important digital currency in the market. It is so important that thought leaders in the space have recognized the idea that the survival and success of the whole cryptocurrency space depend on the survival and success of Bitcoin. 

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