Investors have the chance to purchase penny crypto coins, despite the fact that the crypto market has been experiencing a bearish pull over the past few weeks.

Market valuation is still down at $2.61 trillion. This is 1.65% less than the 24 hours prior.

The current market dip opens up p investment opportunities for penny crypto once the market recovers. We will be discussing the top 5 penny crypto coins that you should add to your portfolio using the information provided.

1. Cardano (ADA)

Cardano, a network protocol that uses the proof-ofstake (PoS), algorithm to ensure security and sustainability for decentralized applications (DApps), is Cardano.

Cardano has been in a downward trend for the past months since September 12. However, this year the coin has seen an 863% increase. It is currently trading below the MA support price of $1.70, which is a bearish trend.

Cardano's announcement of smart contracts on Cardano Blockchain following the Alonzo Hard Fork upgrade is a great way to increase value in this bearish time.

Cardano claims to be a third-generation Blockchain protocol. It intends outdoing the older protocols with the Hydra upgrade.

Hydra upgrade, a layer-2 solution, is intended to improve the overall performance of the network. It will allow you to delegate 1,000 transactions to one Hydra node, of which there are 1000. Cardano could process up to 1,000,000 transactions per second (TPS) if the network is upgraded successfully.

Cardano is a penny cryptocurrency coin that can be bought and held at $1.68 per unit. This will make it a low-risk, high-profit investment.

2. Ripple (XRP).

Ripple is a top cryptocurrency asset to invest under $5 to make high profits with low investments. Ripple Labs' native currency is Ripple token. It is used to license a new generation of highly performing payment solutions for businesses.

The current bearish trend in the coin's price is below its 20-day MA support price of $1.96 at $0.96. As a rally towards new highs is in the offing, Ripple's price drop signals an opportunity to buy it.

The launch of a product called Liquidity Hub, which is part of the Ripple network, could be one of the main factors behind XRP's price rise. Financial firms will be able to provide their customers with access to cryptocurrency through this product. Clients will have access to crypto assets via a variety sources, including exchanges and over the counter trading desks.

This new development will likely lead to Ripple's price increasing in the weeks ahead. Potential investors will be able to purchase XRP at a lower price point due to the current market dip.

3. Polygon (MATIC).

Polygon is a penny crypto coin that can make big profits. This could be a great avenue for low-risk investors looking to make large profits. MATIC is currently trading at $1.7 above its 20-day moving mean (MA) support price.

The cryptocurrency has seen a 39.72% rise in value over the past six months, and is now aiming for a rally to new support and resistance levels. Polygon, a multi-chain solution, aims to reduce the transaction burden on the Ethereum network.

Polygon is an attractive investment option that is certain to make significant strides in the cryptocurrency market over the next months. The launch of IDEX's v3 hybrid liquidity DEX on the Polygon Network will trigger the Polygon native token MATIC to a bull run.

This protocol is designed to maximize liquidity provider's return while simultaneously offering investors the tools they need to invest.

The bullish run of MATIC is also affected by the scheduled launch of Openbisea NFT on the PolyDefi platform.

These factors are currently in favor of Polygon, and investors who want to make high returns can place their bets on Polygon.

4. Algorand (ALGO).

Algorand is a low-cost investment that has been ranked as one of the best. The current price is slightly higher than the $1.84 20-day MA support and has experienced a 93.27% rise in the past six months. The 200-day MA support of $1.35 confirms this bullish trend as the coin trades today at $1.87.

Algorand, a PoS blockchain protocol without permission, is intended to increase transaction speed efficiency.

Algorand will see an increase in its price after AlgoFi announces that it has raised $2.8 million to fund the creation of a decentralized lending marketplace.

AlgoFi allows users to lend cryptocurrency, earn interest on deposits and borrow money to fund complex trades. AlgoFi's long-term goal is to be a bridge between central and decentralized finance, as the first cryptonative bank.

This news will encourage more investors to purchase the ALGO currency, which will increase demand and push the price higher. An ALGO investment is a high-yielding, guaranteed crypto investment that investors might be interested in.

5. Decentralization (MANA).

Investors have the opportunity to take part in the impending bull market by investing in Decentraland's MANA. The coin has fallen by 4.53% over the past 24 hours.

Other technical indicators show that the digital asset is still a bullish asset. The current price is $4.4 and the coin is trading above the $4.2-day MA support price. Investors looking to maximize the potential of penny coins can purchase and hold MANA to enjoy huge profits over the next few weeks.

Decentraland, a 3D virtual world platform that focuses on artistic mediums for content creators, is already integrated into the Metaverse as a native token.

As the popularity of Meta, a virtual reality platform that allows for more immersive experiences, MANA will see its value rise in the coming weeks.

MANA gives investors the power to vote on policy updates, and grant permissions for the type of content that will be permitted in the Metaverse.

As a variety of protocols launch on the virtual reality platform, MANA's potential to rise past support prices and previous resistance is certain. Boson Protocol, a lifestyle platform that aims to combine blockchain technology with commerce, is one of these platforms.

You might consider Decentraland's MANA if you are looking for high-value assets that you can invest in at low interest rates.

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By: Jimmy Aki
Title: 5 Best Penny Crypto Coins for Big Profits – December Week 1 2021
Sourced From: insidebitcoins.com/news/5-best-penny-crypto-coins-for-big-profits-december-week-1-2021
Published Date: Thu, 02 Dec 2021 16:16:59 +0000