5 Cheapest Altcoins Popular on Reddit

1. Chainlink   

Chainlink is a cryptocurrency launched in 2017 by SmartContract, a San Francisco-based firm. It is ranked first on our list of 10 cheapest altcoins popular on Reddit. It utilizes a blockchain oracle network built on Ethereum. Sergey Nazarov and Steve Ellis were the original developers on the coin that has a supply limit of 1 billion, with about 441 million presently in existence. The coin has a market cap of over $7 billion. Some new features on the platform include off-chain computation, crypto-economic staking, and privacy preserving. 

Coins like Chainlink are mindset using machines from NVIDIA Corporation (NASDAQ: NVDA), the visual computing firm based in California. NVIDIA Corporation (NASDAQ: NVDA) recently earned a Buy rating from investment advisory Rosenblatt. In the ratings update, the price target on the stock was increased to $250 from $200. 

At the end of the first quarter of 2021, 80 hedge funds in the database of Insider Monkey held stakes worth $6.2 billion in NVIDIA Corporation (NASDAQ: NVDA), down from 88 the preceding quarter worth $8.6 billion.

In its Q1 2021 investor letter, Vulcan Value Partners, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ: NVDA) was one of them. Here is what the fund said:

“NVIDIA Corp. is the dominant supplier of Graphics Processing Units (GPUs) worldwide. NVIDIA’s GPUs are at the intersection of a number of important computing trends including the movement to the Cloud, artificial intelligence, autonomous vehicles, edge computing, gaming, and more. We previously owned NVIDIA and sold it in the third quarter of 2020 as the price to value gap closed and our margin of safety was reduced. As with all our MVP companies, we continued to follow NVIDIA closely. Since that time, NVIDIA reported excellent results and its value has compounded rapidly. The technology selloff at the beginning of the year negatively affected the stock price while our estimate of NVIDIA’s value per share increased. This happy combination of events created a margin of safety and an opportunity to once again add NVIDIA to the portfolio.”

You can also take a peek at 10 Companies that Benefit From Crypto Mining and Forget Bitcoin and Ethereum: 10 Best Cryptocurrencies Redditors are Buying.

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