Updated: May 31, 2022 12:11 STI
New Delhi [India] May 31 (ANI/ATK): Cryptocurrencies are a decent way for users to invest their assets, but being the volatile assets that they are, they come with considerable risk, and it is up to investors to exercise caution. due diligence before committing funds to them.
What’s happening in the market?
2022 has not been a good year for crypto assets except for a few like NFTs. Cryptocurrencies are said to be in a bear market, the general sentiment in the market is not very bullish and investors are fearful and uncertain.
The market is down almost 60% from its record market cap of $3 trillion. Top coins like Bitcoin and Ethereum haven’t been able to hold near their all-time highs – they’re all terribly down.
But as is the case with cryptocurrencies, such moves are expected, and investors always aim to buy the dip and catch the bottom to rally the price and make a profit.
This article mentions a few coins to look for when the bull market picks up and investor confidence generally increases.
The profitable potential of these tokens
Avalanche is a layer 1 blockchain that combines scalability capabilities and fast confirmation times through its Avalanche consensus protocol. The network was born out of the need to address some of Ethereum’s scalability issues.
So, as it is an Ethereum derivative, it supports tokens, DeFi, NFT, etc. It has been a major chain for DeFi and accepts major DeFi protocols like Aave, Trader Joe, etc. It can process up to 4,500 transactions per second compared to Ethereum’s 14.
Avalanche went live in September 2020 and is currently one of the largest blockchains, currently in the top 20. According to data from DeFi Llama, the chain has a total value of over $4 billion locked up in its protocol . It was over $10 billion before the price drop, making it the 3rd largest ecosystem for DeFi.
Avalanche, however, suffered a huge price blow. It is hovering around $22 after hitting an all-time high of over $140 in November 2021.
It was around $80-$90 for most of the year until the algorithmic Terra coin crashed. The avalanche is closely associated with the Terra ecosystem and as such fell over 40% after the accident.
Given that all of the utilities that Avax poses to the system still exist, it’s safe to believe that Avax is currently at a huge discount, and it’s a coin to watch when the bull market picks up and consumer confidence rises. investors are starting to recover.
Polygon is a layer 2 blockchain offering a solution to the scalability issues faced by Ethereum. It works as a parallel chain to Ethereum and helps connect and develop Ethereum-enabled projects and blockchains.
They recently launched Polygon Studios, a subsidiary of Polygon focused on blockchain games and NFTs, and they have seen immense success.
Polygon is one of the most successful NFT networks, and it continues to grow. MATIC, the native token, is used for governance and related stuff.
The token is at $0.5 against an all-time high of $2.9. The current market cap is around $4 billion, and that’s a coin to expect to return to its all-time high once the market normalizes.
Mushe Token (XMU)
The Mushe Token (XMU) is a decentralized token that powers peer-to-peer transactions and an ecosystem combining DeFi, NFT, and gaming.
The Mushe token is an attempt to first drive mass adoption of cryptocurrencies before creating other use cases.
The token has shown potential when it comes to connecting in the crypto space and a possibility of a massive uptrend once it launches.
Mushe Token is in presale phase and you can register here to buy the token at the lowest price you can find.
XMU is temporarily built on the Ethereum blockchain and will eventually migrate to the open Stellar network known for its cheap transaction costs and easy newbie inclusion.
The token improves on the bitcoin model and wants to show the potential of crypto to power everyday activities and businesses.
Join the Mushe Token presale:
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