Already notorious as an agent of market mayhem, the crypto industry has now unleashed political havoc, too, upending a critical general election in Montenegro, a troubled Balkan nation struggling to shake off the grip of organized crime and the influence of Russia.
Only days before a vote on June 11, the political landscape in Montenegro was thrown into disarray by the intervention of Do Kwon, the fugitive head of a failed crypto business whose collapse last year contributed to a $2 trillion crash across the industry.
In a handwritten letter sent to the authorities from the Montenegrin jail where he has been held since March, Mr. Kwon claimed that he had “a very successful investment relationship” with the leader of the Europe Now Movement, the election front-runner, and that “friends in the crypto industry” had provided campaign funding in return for pledges of “crypto-friendly policies.”
Europe Now had been expected to win a decisive popular mandate in elections for a new Parliament. Its campaign mixed populist promises to raise salaries and pensions with pledges to put the country on a clear path to joining the European Union by cleansing the crime and corruption that flourished under Montenegro’s former longtime leader Milo Djukanovic.
The party still won the most votes, but fell far short of expectations, finishing just ahead of a rival group that supports Russia and that can now disrupt efforts to form a stable pro-Western coalition government. Only 56 percent of the electorate voted, a record low turnout.
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Mr. Kwon’s intervention “destroyed us,” said the Europe Now leader, Milojko Spajic, a target of the disgraced crypto entrepreneur’s letter, which was reviewed by The New York Times and whose existence leaked in the local news media before the vote.
In an interview, Mr. Spajic denounced Mr. Kwon’s accusations as “super fake” and part of a “dirty political game” to hurt his party’s chances. Mr. Kwon’s lawyers have not disputed the letter’s authenticity.
As a founder of Terraform Labs, the Stanford-educated Mr. Kwon was once hailed as a crypto trailblazer, responsible for the design of a popular digital coin, Luna, he said would change the world and whose fans he proudly referred to as “Lunatics.”
The spectacular collapse in May 2022 of Luna and a second cryptocurrency that Mr. Kwon designed, TerraUSD, transformed him from a hero of innovation into a fugitive wanted by both the United States and South Korea on fraud charges.
After that, he vanished, his whereabouts a mystery until the authorities in Montenegro announced in March that he had been arrested while trying to board a private plane to Dubai in Podgorica, the capital, using a forged Costa Rican passport.
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He had insisted it was genuine, but a Podgorica court on Monday found Mr. Kwon and a South Korean crypto business partner guilty of using forged travel documents and sentenced them to four months in jail.
What Mr. Kwon was doing in Montenegro before his arrest and when he arrived is still unclear. His activities since his arrest are murkier.
Though stripped of his electronic devices, the jailed Mr. Kwon appears to have somehow moved $29 million from a crypto wallet linked to him, South Korean prosecutors said, confirming a report by Bloomberg News.
Dritan Abazovic, the acting prime minister of Montenegro and a political rival to Mr. Spajic, said there was no record of Mr. Kwon entering the country or registering at hotels, so the authorities want to establish whether he had local collaborators.
“I’m not accusing Spajic of anything,” Mr. Abazovic said in an interview, “but we need to see what was happening in the crypto community here and whether it was involved in money laundering and campaign financing.”
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Long a center for cigarette smuggling and cocaine trafficking during Mr. Djukanovic’s more than three-decade rule, Montenegro has in recent years promoted itself as a center for the crypto industry.
In 2022, Mr. Spajic, who was the finance minister at the time, predicted that the industry could account for nearly a third of Montenegro’s economic output within three years.
For Mr. Spajic and fellow blockchain believers, crypto was the next Big Thing, according to Zeljko Ivanovic, the head of the independent media group Vijesti.
“It was seen as an easy way out — a new secret recipe to replace the smuggling that had been Djukanovic’s recipe for decades,” Mr. Ivanovic said. “But the miracle cure turned out to be a disaster.”
Eager to attract talent, Montenegro last year awarded citizenship to Vitalik Buterin, a Russian-Canadian and the founder of Ethereum, the most popular cryptocurrency platform.
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Mr. Buterin said he “never knowingly met or talked to Do Kwon, including through third parties,” and “never gave money to Europe Now.”
Mr. Spajic posted a photograph on Twitter of himself with Mr. Buterin, who is holding up his new Montenegrin passport, and the message: “We will bring the best people in the world to Montenegro.”
Montenegro’s welcoming ways, however, also attracted George Cottrell, a British financier convicted of wire fraud in the United States, who later moved to Montenegro under a new name, George Co.
Mr. Cottrell, according to officials, left Montenegro for London on June 9, soon after the police raided Salon Privé, a bar in the coastal resort town of Tivat that law enforcement officials believe is connected to him. It features gambling machines and a “cryptomat,” used for buying and trading digital currencies.
Ratko Pantovic, Mr. Cottrell’s lawyer, who also represents the bar, said his British client had no connection to the gambling salon or the crypto industry.
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Montenegro’s acting interior minister, Filip Adzic, who oversaw the police raid in Tivat, said Mr. Cottrell had not been charged with any crime but was being investigated for involvement in possibly illegal crypto activities.
Montenegro, Mr. Adzic said, needed to be careful with a business that, because it facilitates anonymous transactions, “is good for organized crime, good for financing terrorists and good for money laundering.”
American and South Korean prosecutors want to examine three laptops and five cellphones seized by the authorities from Mr. Kwon at the time of his arrest for clues to what happened to billions of dollars invested in his now mostly worthless digital coins.
Of more interest to Montenegrin authorities, however, is what they may contain relating to campaign financing and Mr. Kwon’s relationship with Mr. Spajic.
In a court hearing on June 16, Mr. Kwon’s lawyers said their client denied having funded Mr. Spajic’s electoral campaign. Mr. Kwon’s letter, however, said that “other friends in the crypto industry” contributed.
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“I have evidence of these communications and contributions,” Mr. Kwon said in his letter.
Mr. Spajic initially denied any connection to Mr. Kwon, but later acknowledged he had known him since 2018 and invested money with him on behalf of an investment fund he says he was working for in Singapore — “he cheated us,” Mr. Spajic said — and met him again late last year in Belgrade.
That followed an announcement by South Korean prosecutors in September that Interpol, the global police organization, had issued a “red notice” for Mr. Kwon’s arrest. Mr. Spajic said he had met Mr. Kwon only because “we wanted our money back.”
Mr. Kwon gave a different account, claiming in his letter that Mr. Spajic wanted to discuss campaign financing. He said Mr. Spajic, who was then planning to run for the presidency, explained that he was “raising few million USD for the upcoming campaign” and “asked me to make a contribution.” Mr. Kwon said he declined.
Mr. Spajic said it was “absolutely false” that they discussed campaign financing.
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Milan Knezevic, the leader of the pro-Russian bloc that finished second in the election, said he relished his group’s unexpectedly strong result, achieved in part because of the disruption caused by Mr. Kwon, but he still regretted that Montenegro had opened its arms to crypto mavens.
It would have been better, Mr. Knezevic said, sitting in an office decorated with pictures of President Vladimir V. Putin of Russia, to have welcomed fighters from the Islamic State militant group.
“At least with ISIS, you know what you are up against,” he said. “But we have no idea what these crypto people are really doing.”
Alisa Dogramadzieva contributed reporting from Podgorica and Tivat, Montenegro, and Choe Sang-Hun from Seoul.
As the cryptocurrency market continues its turbulent path, several well-known crypto projects, like Cardano (ADA), are having trouble keeping up. Although ADA’s decentralized capabilities and advanced blockchain technology are admirable, its recent performance has left investors looking for better crypto investment opportunities with strong growth prospects that don’t break the bank. Smart investors searching for the next big breakout are taking notice of the under-$5 cryptocurrencies that are making waves in this market.
LuckHunter (LHUNT) has stood out among these appealing contenders. LuckHunter is a pioneer in the combination of blockchain technology with metaverse gaming, providing a unique experience that combines entertainment and decentralized technology. At its heart is an immersive gaming platform that transforms user interaction with virtual worlds while utilizing blockchain’s advantages for security and transparency.
Both beginners and experienced investors find these sub-$5 cryptocurrencies, like LuckHunter, to be interesting because of their attractive blend of affordability and innovation. Cryptocurrencies like LuckHunter demonstrate that innovation need not be expensive as the market develops. In an ever-growing digital economy, exploring these innovative projects might reveal unrealized prospects, regardless of your experience with cryptocurrencies. So, let us explore the best cryptocurrencies to buy now under $5.
Best Cryptocurrency To Buy Now Under $5
After a steep drop that pushed the price below the $0.9550 support level, Cardano (ADA) is beginning to show signs of recovery. Selling pressure caused the digital asset, which had been trading above $1.00, to drop temporarily to $0.8769.
Similar decreasing tendencies observed in the Bitcoin and Ethereum markets preceded the latest price shift, which started when ADA was unable to sustain stability above the $1.00 level. When the price fell below a number of important support levels, such as $0.9550 and $0.9500, the slide quickened.
In the middle of this, investors are actively looking for the finest cryptocurrencies to purchase for less than $5. With LuckHunter as our top pick, we’ll talk about a few additional cryptocurrency contenders that are worth checking out right now for huge profits!
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LuckHunter (LHUNT)
Rexas Finance (RWA)
Shiba Inu (SHIB)
Dogecoin (DOGE)
Pudgy Penguins (PENGU)
Toshi (TOSHI)
Filecoin (FIL)
Are you ready to know about these seven best cryptocurrency to buy now that may hold a better promise than ADA? Then, explore their potential with us!
LuckHunter (LHUNT)
By fusing casino experiences with a metaverse environment, LuckHunter (LHUNT) seeks to provide blockchain fans with a gaming environment. LHUNT distinguishes itself in a market where cryptocurrency-based games are becoming more popular by providing a setting where users can place bets on virtual experiences. From in-game purchases to staking activities, the network revolves around its cryptocurrency for a variety of transactions.
Visit the LuckHunter metaverse casino >>
Platform and Metaverse Focus
Fundamentally, LuckHunter offers a metaverse setting similar to a casino. Through virtual reality (VR) or conventional online interfaces, users can “enter” a virtual world where they can investigate interactive slot machines, card games, and other betting ideas. LHUNT prioritizes both entertainment and blockchain value in its ecosystem, whereas many other metaverse initiatives find it difficult to integrate the two. LuckHunter seeks to appeal to a wide range of players by combining interactive tables, digital collections, and the opportunity to win prizes.
Benefits for Token Holders
Staking programs, extra multipliers, or early access to new platform features could prove advantageous to LHUNT holders. The ability to interact with a casino setting from anywhere and the newness of the metaverse have drawn an increasing number of users. Investors predict that the token could rise in value if the user base grows and if real-time gaming becomes popular.
Plans for the Future
As a pioneer in the cryptocurrency and gaming industries, LuckHunter is creating waves. Since there aren’t many tokens left, early investors are seizing the opportunity to participate. The initiative has swiftly raised an incredible $1 million thanks to this feeling of exclusivity, demonstrating people’s faith and enthusiasm for its possibilities.
With its innovative and engaging approach to virtual world gambling, LuckHunter is the first metaverse casino gaming project available online. LuckHunter is at the forefront of the rapidly expanding global interest in metaverse gaming. Combining blockchain technology with entertaining, engaging gaming produces an unusual experience that appeals to investors and players alike.
LuckHunter is a noteworthy project to keep an eye on because of its scarce token supply and quick growth. It is an exciting prospect for everyone interested in the future of online entertainment because of its distinct approach to gaming and the growing popularity of metaverse experiences.
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Rexas Finance (RWA)
Rexas Finance transforms real-world asset tokenization (RWA) by streamlining ownership and transactions. Its platform includes user-friendly tools that let businesses and individuals create, manage, and trade asset-backed tokens with ease. This innovative approach democratises asset ownership, making it accessible to everyone, wherever.
Since its founding on September 8, 2024, Rexas Finance has demonstrated remarkable growth. The initial presale stage, which cost $0.03, sold out in less than three days, demonstrating strong investor confidence. The price of the RXS token, which is currently in its eleventh round of presale, is $0.175, representing a 483% growth in just four months. The effort has raised $35,927,359 without venture capital assistance by selling 395,385,647 tokens, demonstrating the enthusiasm of investors in general.
The anticipated early 2025 launch of RXS coins on major exchanges holds the real promise. According to analysts, the listing would raise liquidity and publicity, causing the price to rise to $10 in five months. A $50 investment would become $5,000 for investors who enter at the current price of $0.175, representing an incredible 10,000% gain. Rexas Finance’s commitment to innovation and ability to close significant gaps in the market make it a compelling substitute for exponential earnings.
3. Shiba Inu (SHIB)
Shiba Inu, one of the most recognizable meme currencies, has solidified its place and attracted attention due to its potential for quick gains. With a market capitalization of $14.2 billion and a trading volume of over $550 million, SHIB has grown 6.83% during the last day to trade at $0.000024. The popularity of cryptocurrencies like SHIB usually increases when Bitcoin gets closer to $100,000.
Meme currencies have historically increased in response to hopeful developments in Bitcoin and SHIB’s vibrant community and affordable price appeal to both individual and institutional investors. One of the main factors driving SHIB’s growth has been whale accumulation, in which large investors have increased their holdings. This trend demonstrates confidence in SHIB’s capacity to raise prices.
Shiba Inu is bound for a huge rise when combined with the optimism in the market as a whole brought on by Bitcoin’s rise. SHIB may see a 100x jump in the current market cycle, according to experts, who attribute this to rising retail interest and whale activity. A $50 investment at today’s price might yield a whopping $5,000 if SHIB hits $0.0024 during the next five months, providing speculative investors with a high-reward option.
4. Dogecoin (DOGE)
Dogecoin, which started off as a meme coin, continues to be significant in the cryptocurrency space. DOGE, which has a market valuation of $55.4 billion and a trading volume of $3.9 billion, has increased in value by 11.83% in the past day, trading at $0.3777. In the past, DOGE has prospered amid Bitcoin booms. Both new and seasoned investors are drawn to it because of its strong community support and cultural significance.
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It serves as a gateway asset for those new to the cryptocurrency industry due to its cheap cost and visibility. Elon Musk, a long-time supporter of Dogecoin, continues to have a significant influence on the fluctuations in the cryptocurrency’s value. The DOGE community is now again feeling hopeful as a result of recent developments involving Musk, such as his endorsement of government efficiency concepts. Although not directly related to Dogecoin, Musk’s affinity for the token occasionally encourages speculative buying.
Given DOGE’s historical association with news pertaining to Musk and broader market conditions, analysts predict that the token may rise to $4.00 during the next five months. This offers investors who purchase at $0.3777 the possibility of a tenfold profit. Users might have $5,000 if they invest $50.
5. Pudgy Penguins (PENGU)
Initially, Pudgy Penguins (PENGU) was an NFT collection with adorable figures inspired by penguins. After that, the brand expanded by adding a token for community involvement. The colorful design appeals to dealers and collectors who value cartoon-style projects. Pudgy Penguins’ meme-based content has generated a lot of excitement on Twitter, which has helped PENGU attract a constant flow of attention.
Pudgy Penguins thrives on social media presence, just like a lot of other tokens that are driven by memes. In order to draw in new members, active community members organize events and produce fanart and memes. The initiative has grown from a specialized NFT series to a well-known brand in the cryptocurrency community because of this natural involvement. The PENGU token facilitates a number of activities, including online meetings and goods purchases.
Although PENGU’s primary identity is based on meme culture, certain experts believe it may grow. Adding games, events, or loyalty benefits to its environment might help PENGU maintain and perhaps increase its value. Early adopters are hopeful that a larger market may result from the adorable penguin NFTs’ popular appeal.
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The general state of the community will determine PENGU’s destiny. The price of meme tokens might rise quickly, but it can also fall sharply. Continuous interaction, brand extensions, or outside collaborations are essential to Pudgy Penguins’ success. In a bull market, these tokens can grow swiftly, but traders need to be aware that they can also rapidly retrace.
6. Toshi (TOSHI)
Toshi is another token that seeks to combine useful functions with playful branding. Its name honors Satoshi Nakamoto, the enigmatic creator of Bitcoin. This reference is meant to add some flair to Bitcoin, even if TOSHI is not directly associated with it.
The TOSHI project intends to develop a suite of user-experience-focused apps. Offering a wallet or tool where TOSHI holders receive benefits or lower costs is one concept. Another idea would be to create limited-edition NFTs under the TOSHI brand, which would allow supporters to show off their devotion. The development team of TOSHI must release new applications and maintain community updates in order for the platform to grow.
TOSHI’s branding and the potential for an expanding ecosystem have attracted early traders. According to some, TOSHI has a hybrid identity since it is a combination of a meme and a utility coin. A larger population could be drawn in by this dual feature. That being said, TOSHI must continue to be genuine and provide useful releases rather than simply promotional tricks.
7. Filecoin (FIL)
In the digital era, decentralized storage solutions are essential, and Filecoin fills that demand. The software establishes a market where users can either purchase storage space using FIL tokens or rent out their extra storage capacity. The new approach of cloud storage uses blockchain technology to guarantee data security and availability while challenging conventional centralized systems.
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The FIL token is used as an incentive for storage providers and a way to pay for storage services. By contributing storage space or staking FIL tokens, investors can contribute to the network’s development. Because of the platform’s distinctive business strategy, consumers enjoy low pricing and enhanced data protection, while storage providers are encouraged to continue offering dependable services.
Filecoin’s decentralized storage solution has grown in value due to the exponential expansion of digital data. FIL is a desirable investment for those who believe in the future of decentralized infrastructure because of its integration with Web3 apps and partnerships with significant digital businesses, which position the project for future growth.
Conclusion: Best Cryptocurrency To Buy Now
The inventiveness and promise of under-$5 cryptocurrencies are drawing attention in a sector where well-known brands like ADA are having difficulties. Projects like LuckHunter, which combine blockchain technology and metaverse gaming, are prime examples of the fascinating prospects in this field.
These coins provide an accessible starting point for investors looking for growth since they are both innovative and reasonably priced. Investigating such cutting-edge initiatives might open up incredible opportunities for individuals who are ready to take the risk as the cryptocurrency environment changes.
Memecoins roared back into momentum on Wednesday amid a broader rally supported by encouraging inflation data and Donald Trump’s pro-cryptocurrency moves.
What happened: The unconventional Fartcoin surged over 27% in the last 24 hours to emerge as the biggest meme coin gainer.
The Solana SOL/USD-based token amassed a market capitalization of $1.24 billion at the time of writing, with trading volumes jumping 26% in the last 24 hours.
Fartcoin was followed by dogwifhat, another popular community-driven Solana meme coin, based on a meme featuring a dog wearing a hat.
The billion-dollar-valued cryptocurrency pumped 11%, while its trading volume jumped 75%.
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PENGU, the official coin of the popular non-fungible token collection Pudgy Penguins, gained 9.76% to a market capitalization of $2.16 billion.
Cryptocurrency
Gains +/-
Price (Recorded at 10:45 p.m. ET)
Fartcoin (FARTCOIN)
+27.22%
$1.25
dogwifhat WIF/USD
+11.55%
$1.71
Pudgy Penguins (PENGU)
+9.76%
$0.03448
See Also: Italy’s Largest Bank Leaps Into Bitcoin Trading With $1 Million ‘Test’ Investment But CEO Says He Doesn’t Invest In BTC Personally
Meme coin heavyweights like Dogecoin DOGE/USD and Shiba Inu SHIB/USD also gained momentum, rising 3.63% and 2.58%, respectively.
Ethereum ETH/USD-based frog-themed coin Pepe PEPE/USD jumped 6%, while cat-themed Popcat, one of 2024’s biggest gainers, rallied 7.88% in the last 24 hours.
The total meme coin market capitalization rose 4.83% to $106.94 billion, while the overall volume surged 27.81% to $10.74 billion.
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The upsurge followed slower-than-expected growth in core inflation, seen as a net positive for risk-on assets. Additionally, a report raised hopes for clear cryptocurrency regulations under new SEC leadership in the Trump administration.
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