5 Cheapest Altcoins Popular on Reddit

4. VeChain

VeChain is a cryptocurrency started in 2017 by a Chinese firm named BitSe. It is placed fourth on our list of 10 cheapest altcoins popular on Reddit. The blockchain on which it is based concentrates on financial services, supply chain solutions, and smart contracts. The currency holds the honor of being the first digital coin to partner with the Chinese government. It is also the first to come up with a disaster recovery plan. The coin is now heavily focused on the internet of things universe. 

Financial firms like CME Group Inc. (NASDAQ: CME), the Illinois-based derivatives exchange, have also reaped benefits from the rise of cryptocurrencies. CME Group Inc. (NASDAQ: CME) recently launched micro bitcoin futures and beat market expectations on earnings per share and revenue for the second quarter.

At the end of the first quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $2.3 billion in CME Group Inc. (NASDAQ: CME), up from 58 the preceding quarter worth $2.2 billion.

In its Q1 2021 investor letter, Cooper Investors, an asset management firm, highlighted a few stocks and CME Group Inc. (NASDAQ: CME) was one of them. Here is what the fund said:

“CME has been owned by the portfolio for five years. CME’s strategic positioning as a monopolistic global financial exchange operator will continue to afford the business a highly attractive margin profile. CME is well managed however we can no longer identify clear value latency opportunities for the management team to execute against and so decided to exit our position.”