In the cryptocurrency world, with a market cap reaching $2.04 trillion according to Coincodex, uncovering undervalued tokens could yield exponential returns. The diverse cryptocurrency ecosystem, home to various tokens with differing values, offers opportunities to find those that are currently undervalued.

Factors such as market inefficiencies, low profile, or unrealized potential can lead to undervaluation. To identify these hidden gems, you must look into the key benchmarks that make them stand out and have the potential to grow. These benchmarks could include but are not limited to market capitalization, partnerships and collaborations, and growth potential.

Let us zoom in on some of the most promising undervalued tokens and their potential for significant growth.

List of Undervalued Tokens in 2024

Fantom ($FTM)

Fantom is a layer-1 blockchain that was created to have secure and efficient smart contract programs. Ever since it has been increasing scalability while still lowering transaction costs. In fact, Fantom boasts of having a near-instant finality of one second, which makes it an efficient ecosystem for developing dApps as well as executing peer-to-peer financial transactions.

Fantom has its native token, $FTM, which serves the purpose of payment and fees, staking, and governance. It is currently valued at $0.4845, down 85.9% from its all-time high of $3.86 almost three years ago. Comparing it with its peer tokens reveals that while layer-1 tokens are up by 0.30% in the last 7 days, $FTM has managed to rally 21.60%, outperforming the general cryptocurrency market which has gone down by 0.30%.

Additionally, Sonic Labs stated that the Fantom $FTM token will soon migrate to Sonic $S with holders of $FTM having their tokens converted to $S in the ratio of 1:1. At the current price, $FTM is undervalued and should the transition happen smoothly, has the potential to rally as more technological advancements will be implemented for speed and efficiency.

Agoric ($BLD)

Agoric, a platform built on the Cosmos blockchain, aims to bring secure smart contracts to the internet using hardened JavaScript. This makes blockchain programming more accessible to over 17 million developers. By making blockchain accessible to millions of JavaScript developers, Agoric can expand DeFi adoption, which could increase demand for their $BLD token as more developers stake and participate in governance.

Agoric has its native token $BLD, which fulfills its governance and staking purpose, securing the network and offering rewards to participants​​. As of the writing of this, $BLD was valued at $0.05023. Despite this value being a 93.3% drop from its ATH of $0.7512, the token has shown a bullish trend that saw it recover from its all-time low of $0.03706. This recovery, along with projected DeFi market growth, suggests $BLD may be undervalued​.

With Agoric’s recent developments, such as the introduction of Agoric’s Orchestration API, which simplifies cross-chain interactions, crucial as Web3 becomes more integrated​​, and a new listing on BitMart, the platform demonstrates its strong growth potential. The Zoe framework further strengthens the platform by ensuring safe transactions, which can attract developers looking for secure smart contract execution​. Therefore, as demand for developer-friendly blockchain tools grows, Agoric’s innovations position $BLD as an attractive option for forward-looking investors. 

Beam Network ($BEAM)

Beam Network blockchain-based gaming network that allows both developers and gamers to collaborate and reshape the gaming industry. Brought to life back in 2021, and empowered by the Merit Circle DAO, Beam Network has created highly immersive and engaging blockchain-based games.

Through the use of its native token, $BEAM, token holders can govern the network and also pay for transactions within the network, allowing for a seamless gaming experience. Since its inception, $BEAM managed to hit its all-time high (ATH) at $0.04 six months ago. Ever since, it has been on a constant downtrend. While it has been on a downtrend since then, a closer look at its price today ($0.0128) compared to its price almost a year ago ($0.004) reveals that it is on the right trajectory.

The Beam Network, through the BEAM SDK, gives developers the freedom to create builds that match their vision. This open approach encourages development, which can then drive up the price of $BEAM.

For example, Beam’s game Fableborne received positive feedback on their X page, which suggests a higher valuation if the game and future releases are well-received.

Ocean Protocol ($OCEAN)

Ocean Protocol is what you get when you merge decentralized networks, crypto, and blockchain technology. Built to facilitate private and secure data sharing, Ocean Protocol sure does live up to its intended purpose. By allowing individuals with in-demand data to tokenize and offer their data on the Ocean Market, is a groundbreaking development, especially for AI and Machine Learning.

Ocean Protocol’s native token $OCEAN, a multi-functional utility asset used for staking, governance, and transactions within the Ocean ecosystem is currently trading at $0.5835. Looking at its current price relative to its ATH, it is evident that its price is discounted by 69.7%, showing some room for higher valuation. Furthermore, its popularity in both blockchain and technology has earned Ocean Protocol a leading position, likely to positively influence its overall price in the future.

Conclusion

The analysis of these undervalued tokens with strong growth possibilities emphasizes that in the rapidly changing world of cryptocurrencies, true value lies in projects that blend innovation with strategic vision. Each of these tokens offers something unique, whether it’s cutting-edge technology, a daring approach to scalability, innovative data economies, or enhanced privacy and security features.

As the market develops, projects that address real-world problems and capitalize on emerging trends are likely to fuel the next phase of growth. To succeed in this space, in-depth research and a strong grasp of the shifting crypto landscape are crucial.