The 3 Most Undervalued Cryptos to Buy in March 2024

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Certain investors use many different methods to attempt to value cryptocurrencies. Whether it’s a network’s growth, user base or transaction metrics or some measure of intrinsic value, finding undervalued cryptos is much harder than it looks.

However, using some of these criteria, it’s easy to conclude that certain crypto projects are better than others. One might suggest there’s value under the hood if one believes in the long-term growth drivers underpinning these networks.

Here are three tokens representing undervalued cryptos worth considering right now.

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Ethereum (ETH-USD)

Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH crypto
Etereum coin is in pocket. Ethereum is a decentralized, open-source blockchain with smart contract functionality. ETH crypto

Source: Thaninee Chuensomchit / Shutterstock.com

The SEC’s silence on spot Ethereum (ETH-USD) ETFs has dashed hopes for May approvals, with chances downgraded to 35% by experts. A number of analysts suspect Chair Gary Gensler’s cautious approach influences this delay. Despite regulatory silence, the market’s sentiment concerning Ethereum remains optimistic, anticipating eventual approvals given past positive stances on the commodity-like asset.

Additionally, the upcoming Dencun upgrade revolutionizes Ethereum’s data storage, enhancing accessibility and reducing costs for layer 2 transactions. Comprising nine Ethereum Improvement Proposals, the upgrade promises near-free layer-2 transactions, potentially shifting Ethereum’s activity to these networks. Projects might incentivize usage by absorbing gas payments, making transactions even cheaper.

Lastly, Ethereum is a crucial Web3 crypto asset alongside Bitcoin, valued for portfolio stability. It pioneered smart contracts and hosted a large share of the total value locked in the world of decentralized finance (DeFi). Significant upgrades such as the EIP-1559 further the thesis that it’s one of the undervalued cryptos worth buying at current prices, particularly on this recent dip.

Ripple (XRP-USD)

A concept image for the XRP (XRP-USD) token from Ripple.
A concept image for the XRP (XRP-USD) token from Ripple.

Source: Shutterstock

We all know how cryptocurrencies work: through simple supply and demand dynamics. Buyers are here willing to pay a price, while sellers are willing to accept trades, taking profits when a given token rises.

However, it’s different for Ripple (XRP-USD) because this token relies on its utility created via the Ripple Ecosystem. This exposes investors to a revolutionary technological infrastructure to improve cross-border transactions. Compared to other traditional systems, Ripple is adapting near-instantaneous transactions. This alone presents an excellent opportunity for innovating payment systems worldwide.

Ripple’s rapid cross-border transaction capabilities hold promise for global banks, particularly in emerging markets. With a pre-mined token supply and potential for long-term adoption, XRP’s value could certainly be under-appreciated.