Blockchain technology occupies a more prominent place in our lives every day. Applications developed with this technology also attract many new investors to the cryptocurrency markets. While crypto learning academies say that new investors should make conscious investments, they emphasize that the right moves should be made, especially during the recent bear market. To get through these periods, it is recommended to follow the advice of experts and analysts.
How to Make Profit by Purchasing New Crypto Metamortals (MORT)?
Experts emphasize that this bear market is a great buying opportunity. Even if there is a decrease in value, this pressure on the cryptocurrency markets should disappear in a short time, and a new upward wave will begin. Many analysts predict that investors who do not panic will be profitable in this process, which can be considered an opportunity to buy the dip.
The Metamortals (MORT)project is also on the agenda as one of the significant investments in this field. The development process, which is followed closely by a large audience, has already managed to attract the attention of investors.
Metamortals (MORT) is designed as a game project that actively uses GameFi elements. In the game, developed on a large ecosystem with PvP and PvE elements, MORT tokens will be earned with play to earn mechanics.
The ecosystem is being developed on the BNB chain. The algorithm, which uses multi-chain and cross-chain technologies, ensures that transactions made within the ecosystem and NFTs obtained during games can be verified at high speeds.
Is It a Good Time to Purchase Bitcoin (BTC)?
Cryptocurrency markets are always up and down. The most distinctive feature that distinguishes these markets from the others is that tough ups and downs can occur in a short time. Having high volatility is an issue that brings advantages and disadvantages for cryptocurrencies. Cryptocurrencies such as Bitcoin (BTC) can make powerful upward movements in a short period, giving their investors a chance to multiply their capital.
In the same direction, a bear market may cause the loss to be significant. To trade in such high volatility markets, it is necessary to be experienced and find well-founded projects. A cryptocurrency like Bitcoin (BTC), the first and the locomotive of the market, is always investors’ first preferred investment tool. The fact that the needs are in a downward trend in 2022 indicates that at this point, it is the most suitable level to invest in Bitcoin (BTC) when it is more affordable.
Is XRP (XRP) a Reliable Coin to Invest in the Bear Market?
XRP (XRP), which started to be listed on the stock market in the middle of 2018, increased its value by 300% in 2021 and made its historical level with a price of 2 dollars. The project is a cryptocurrency brought to life by the Ripple company, which has a very old history. The XRP ecosystem has many uses. XRP, which came to life due to combining the traditional finance mechanism with Blockchain technology, has a different vision, unlike other cryptocurrencies. For this reason, XRP is a reliable coin to invest in the bear market.
The cryptocurrency market crash has created a buying opportunity for investors willing to look beyond Bitcoin (BTC) and XRP (XRP). Metamortals (MORT), with its unique business model and growing user base, is well-positioned to become a leading player in the digital currency space. Despite the current volatility, investing in MORT is still a sound decision.
To find out more about Metamortals (MORT), visit the links below:
Privacy-focused cryptocurrencies are designed to keep transactions and user data private. Although the cryptocurrency industry may seem from afar as an area where confidential and anonymous transactions are made, it is in fact a very transparent and public industry. Data from decentralized public ledgers stored on the blockchain are typically available to the broader public via blockchain explorers, thus making financial transactions easily tracked.
Privacy coins make transactions and transfers on the blockchain untraceable and anonymous. By restricting anyone from monitoring your activities on the blockchain network, these projects allow you to remain anonymous in your transactions and transfers with your wallet. There are many methods that privacy coins use, and when they combine a few of these methods and integrate them into their network, the users and their transactions on the network become anonymous.
Working Principle of Privacy Cryptos
Privacy cryptos often use the zk-SNARK protocol on their blockchain. This protocol is a form of encryption called Zero-Knowledge Succinct Non-Interactive Argument of Knowledge. We can briefly describe this form of encryption as being able to prove that you know about a blockchain transaction without having to explain what that information is.
In blockchains, every transaction is validated by validators and processed on the network. zk-SNARK allows transactions to be confirmed without sharing information such as amount, sender, and receiver. On the one hand, this concept increases privacy, on the other hand, it eases the load on blockchains and increases scalability. The zk-SNARK concept is used by many major blockchains, not just privacy tokens.
CoinJoin
CoinJoin combines, mixes, and sends the cryptos from the sender address to the recipients in a single transaction. Each token sent reaches a new recipient address that has never been used. The new recipient address and wallet login information are sent to the recipients. This process simply reduces traceability.
Tor
We need an internet connection for transactions with cryptocurrencies. Sometimes, even if we transact with privacy cryptos, the platforms we transact with can monitor our IP address and see which wallet we own and which wallet we transfer crypto to. Most blockchains use Tor onion routing to hide our IP address with layers of encryption.
Restrictions on Privacy Cryptos
It is a known fact that privacy cryptos are frequently used for criminal activities. While it is everyone’s personal freedom to transfer money anonymously, there are many criminals who abuse it. The vast majority of ransomware attacks and dark web platforms use XMR as a means of payment. Of course, this does not mean that privacy tokens are only used by malicious people or criminals.
Many countries have imposed restrictions on the use of privacy coins. These restrictions have reduced the trading volumes of cryptos serving in this area to very low levels. The US did not ban, but also did not approve, the use of privacy coins. Most Asian countries have banned the use of these coins. Privacy coins continue to be traded on cryptocurrency exchanges with requirements such as KYC and AML.
Most Popular Privacy Coins
There are more than 80 cryptocurrencies on the market, whose main focus is privacy. Let’s talk about the most popular of them and what they do.
Monero (XMR)
Monero is a privacy coin that makes it very difficult for people to track transactions on the network. Launched in 2014, Monero runs on a decentralized blockchain ledger. All transactions on the network, including which wallet sends to whom, when and how much crypto, is hidden by Monero’s cryptographic techniques.
Transactions made in Monero can be viewed, but the network hides which wallet the funds came from and to which wallet they were sent. Three different technologies are used to ensure confidentiality in the network. Ring signature technology is a cryptographic signature technology that contains at least one signature from each real person, but which people in the group are unknown. The second technology is ringCT technology, which is used to hide the amount sent in blockchain transactions. The other technology is the secret address technology, which creates a one-time user address in every transaction. We have mentioned these technologies above.
Zcash (ZEC)
Zcash is a privacy crypto that aims to anonymize digital payments. The Zcash mainnet uses an encryption tool to keep transactions private. Setting out to be a better privacy crypto alternative than Monero, Zcash was launched in October 2016. ZEC attracted a lot of attention and demand when it was launched, raising as much as $3190 but fell to $30 after just 4 months.
Zcash has a protocol that encrypts transaction information using zero-knowledge proof. This protocol, which enables transactions to be verified without seeing details of sent amount, sender and recipient wallet addresses, increased its efficiency with the Sapling upgrade enabled in October 2018.
Decred (DCR)
Decred is a privacy crypto created by modifying Bitcoin blockchain codes just like Monero. Having a community-based governance process, Decred works with both PoW and PoS consensus mechanisms at the same time. Decred was launched in early 2016. DCRDEX was developed in 2020 so that users can trade more easily on the network.
Decred, using an interface called Politeia proposal system, allows all users in the community to submit proposals and vote anonymously. A security and efficiency-oriented algorithm called BLAKE-256 is used in the Decred blockchain. Decred has a blockchain explorer, but user identities are kept confidential as user privacy is prioritized on the network.
Horizen (ZEN)
Horizen is a platform that enables building private and public blockchains. Allowing users and companies to develop and publish dApps, conduct daily transactions and send encrypted messages, Horizen provides users with discretionary privacy through its protected transactions. Horizen uses zk-SNARK and end-to-end zero-knowledge encryption to securely send and store data, messages, and coins. The consensus mechanism of the network is PoW, while the mining algorithm is Equihash.
Released in May 2017, ZEN is a hard fork of ZClassic that emerged as a result of the Zcash fork. Like Zcash, Horizen has been a blockchain that prioritizes a high level of privacy. There are two dApps called Sphere and ZenChat that can be used for private messaging on the network. Horizen Academy, Horizen Early Adopter Program, and Horizen Developer Enviroment are other initiatives of the platform.
Secret (SCRT)
Secret is a blockchain network based on the Cosmos SDK. Secret is a more innovative project than other privacy-focused projects. This blockchain, which receives more frequent updates and keeps up with the trends, is the only one among the projects on the list to support NFTs.
The blockchain, which runs privacy-focused smart contracts, has an inter-chain bridge called Secret Bridge. Thanks to this bridge, it is possible to interact with BEP-20 and ERC-20-based tokens. Trading can be done simply on SecretSwap, which works as an AMM and DEX on the network. Stashh is the blockchain’s NFT marketplace. Users will be able to buy and sell NFTs anonymously on Stashh.
Private tokens on the network use the Secret blockchain-specific SNIP-20 token standard. For NFTs, the SNIP-721 standard is used. The privacy features of Secret Network’s smart contracts also cover NFTs. NFTs have hidden metadata, their owners are private, and only those who have been granted access can view the content. Secret is the best network, especially for NSFW content.
Since they are one of the most ground-breaking applications of blockchain technology, NFTs can expand beyond the confines of the digital medium and generate change in the real world. From its very beginning in October 2021 by creator Sandro Ortolani, the Meta Lion Circle (MLC) has undergone a significant amount of progress that is both helpful and advantageous. What began as an NFT initiative has now developed into the first carbon-negative NFT project testified by UNFCCC.
Overview of the Meta Lion Circle
On the Ethereum blockchain, the Meta Lion Circle ecosystem introduces 9,999 NFT, which are segmented into three distinct collections, each including 3,333 individual components. MLC is prepared to contribute to the advancement of innovation as the usefulness of NFTs continues to increase in the coming years.
Streamlining the process by which members may get certified compensation credits for the transactions they complete using their customized compensation NFTs (CO2CNFT™) while motivating them to do these transactions by offering a variety of prizes. Every participant contributes their maximum endeavor to the long-term development, expansion, and diversification of their enterprise to provide dependable sources of revenue and steadily increase the value of their NFTs. For the time being CO2CNFT™ is a pending trademark, but just around the corner.
For Meta Lion Circle, it is essential to adopt an inclusive strategy to guarantee that the community will have a say in forming the technological future and deploy the potential of NFTs as valuable digital assets. Hence, they introduce diverse, robust, and meaningful use cases for NFTs, which enable them to fulfill their full potential as assets that generate passive revenue on their own.
Embarking on the Pursuit to Tackle Climate Change
In light of the fact that solving climate change is of the utmost significance, the Meta Lion Circle’s mission is going above and beyond compensating for the amount of carbon dioxide their operations produce. To achieve this mission, they have already put into action their first two approaches: to make up for all past, present, and future transactions by redistributing royalties on secondary market sales and developing their own offsetting non-financial transaction.
With high hopes and a strive to change the future of humanity, the members of MLC acknowledge that the enormously destructive impact that carbon emissions have on the environment must be addressed, and they aim to demonstrate to the industry how to address this issue in the hopes of encouraging many others to follow their lead. Ultimately, they wish to reduce the number of people who produce CO2 emissions. Hence, they established a ranking of the best NFT projects based on the amount of CO2 emissions caused by their smart contracts.
Recognizing Meta Lion Circle’s Efforts to Combat CO2 Emissions
So far, MLC has already accomplished a major goal by being the first carbon-negative NFT project, with the certification from the UNFCCC enacted on the 23rd of February 2022. Later on this year their name appeared among the winners of the Sustainable NFT Awards 2022.
Furthermore, the natural game reserve is being certified as an offsetting project with the help of ImpactScope, one of MLC’s business partners. As soon as their self-generated CO2 credits are validated, they will distribute the revenues back to their NFT holders who purchased them. Their members and the projects with whom they collaborate can offset their own transactions and mint their own personal CO2CNFTs by making use of the ImpactScope offsetting credits that Meta Lion Circle has obtained.
Once their self-generated CO2 credits are recognized, they will return the income to NFT holders who acquired them. Utilizing the ImpactScope offsetting credits that Meta Lion Circle has accumulated, its members and the projects with which they cooperate can offset their own transactions and mint their CO2CNFTs.
Join Meta Lion Circle’s Innovative & Sustainable Ecosystem
Meta Lion Circle’s end goal is for the entire world to acknowledge that something needs to be done to mitigate the tremendously destructive impact of carbon emissions on the environment, and they want to demonstrate to the industry how to do so in hopes of inspiring many others to follow in their footsteps.
Embark on Meta Lion Circle’s mission to change the world by accessing their digital channels:
CME Group, one of the largest marketplaces for derivative financial instruments, announced on Thursday the launch of options on Ethereum futures next month. Barring an unsuccessful regulatory review, the service will launch on September 12, mere days before The Merge, which is slated to take place on September 15/16.
Key takeaways:
According to a press release, the new Ethereum options contracts will be sized at 50 ETH per contract (roughly $84,000 at current market rates) and will use the CME CF Ether-Dollar price as a reference rate.
The launch of new Eher options will further expand CME’s existing crypto offering, which currently includes micro-sized Ethereum futures as well as micro- and regular-sized Bitcoin options.
“The launch of these new options contracts builds on the significant growth and deep liquidity we have seen in our existing Ether futures, which have traded more than 1.8 million contracts to date,” said Global Head of Equity and FX Products at the CME Group.
Pending regulatory review, CME plans to launch the new options based on ETH futures on September 12. The date coincides with the much-anticipated Merge, which will see the Ethereum mainnet transition from the Proof-of-Work (PoW) consensus to up to 99.9% more energy-efficient Proof-of-Stake (PoS).
After a month of mostly positive price movements, which saw the world’s second-largest cryptocurrency gain over 50% and briefly surpass the $2,000 mark earlier this week, the price of Ethereum plummeted by over 8% on Friday. The drop has been largely attributed to the broader negative market sentiment following the Fed’s announcement that outlined the continuation of its restrictive monetary policy throughout 2023.
One of the few fields in which it feels like cryptocurrencies are being treated with due respect is the world of casino betting. It only takes a few minutes of searching online to find a plethora of crypto-friendly betting sites, and their number includes some of the most respected casino sites of all. While the term “Bitcoin betting sites” is used almost reflexively as shorthand, it’s not uncommon to see sites offering crypto betting opportunities for fans of altcoins, too, with Ether, Litecoin and Doge being some of the most commonly accepted.
Among the altcoins attracting a lot of attention in casino circles, Ether is arguably the most interesting. While there will always be some measure of tracking, and rises and falls in the price of BTC are frequently mirrored in altcoins, ETH is coming into its own more and more as a coin in its own right. This is something that is certainly demonstrated in crypto casinos, with leading lights such as Cloudbet providing Ethereum betting as a major strand of their provision. As time goes on, while we can’t say for sure that it will outstrip Bitcoin among crypto gamblers overall, it’s easy to see how ETH could carve out its own sizable niche.
Smart contracts breed confidence
From the get-go, ETH has had its own USP in its facility for smart contracts. In casino gaming, which makes a key point of security, this technology is more useful than ever. There is never a concern over getting paid winnings when betting with ETH at a casino – you bet, you win, you withdraw, and there it is in your wallet. This makes for enormous peace of mind and is a significant reason why any crypto casino that wants to be considered one of the elite will offer ETH as a payment method.
That speed of transaction can’t be overlooked, either. It’s something else that sets Ethereum out in front of Bitcoin for online casino players – while all crypto payments are swifter than fiat transactions involving banks, BTC withdrawals will generally take at least half an hour, and more in some places.
Continuing innovation
The process of mining Bitcoin has come in for some criticism regarding its energy usage among other issues, and Ethereum has shown agility in this respect by moving to a proof-of-stake verification mechanism. Users are finding that staking Ethereum, as well as validating new blocks, is an increasingly good idea because of the increasingly varied ways that they can use staked Ethereum (stETH). Thanks to staking platforms such as Lido, it is now possible to bet with staked Ethereum (and soon staked Solana (stSOL), which also makes use of smart contracts)at sites like Cloudbet. When you win bets made in this way, you will gain the interest on your stake alongside the usual payout.
Ethereum has been viewed for some time by its advocates as having qualities above and beyond other cryptocurrencies, and as time goes on those benefits make themselves more and more apparent. With speed, security and versatility that are the envy of other blockchain assets, it will be worth watching the pathways of Ethereum and crypto casinos to see how the two link up in future.
Bybit, one of the largest cryptocurrency exchanges in the world, is listing seven football fan tokens on August 19, 2022.
The event ranks as one of the largest fan token listings ever as several top-ranking clubs in Europe will go live. England’s English Premier League clubs, Manchester City ($CITY) and Arsenal ($AFC) are the two clubs representing the country. The Italian Serie A features three clubs in Juventus ($JUV), AC Milan ($ACM), and Inter Milan ($INTER). France and Spain have one representation each in Paris Saint-German ($PSG) and Barcelona ($BAR) respectively.
The significance of fan tokens is in allowing holders to influence certain decisions in the club’s processes. It is in a bid to improve fan inclusiveness. This way, fans can vote on jersey selections, stadium size, and even starting 11 players for the team’s friendly matches.
As rewards, the token holders can win exclusive prizes such as VIP experiences, reduced prices for home games, and even participate in competitions.
Bybit launches the fan tokens with a competition
To celebrate the launch of the fan tokens, ByBit will launch two competitions. The first is a prize pool of 100,000 USDT, and to be eligible for the prize money, users simply need to buy or trade one of those seven fan tokens.
That is not all, the worth of the trading volume must be equal to, or more than, 100 USDT worth of the fan tokens. The promotion will last for fifteen days (Aug. 19, 2022, to Sept. 2, 2022)
The second promotion, which runs concurrently with the first, requires users to participate in the 100,000 USDT bonus if they have a trading volume of at least 100 USDT on Bybit’s Spot platform.
According to Bybit’s CEO, Ben Zhou,
“Bybit shares the core values of professional sports, including integrity, teamwork, and a drive to be the best. Fan tokens are another addition to a long line of competitive events and sponsorships we have hosted, including our World Series of Trading, and ongoing partnership with Oracle Red Bull Racing. We’re always proud to be helping passionate fans connect with their teams and sporting idols.”
This is not the first time Bybit will make an entry into the sporting space. It partners with many sports, including Formula One Racing, Oracle Red Bull Racing, esports teams NAVI, Astralis, and Alliance, and Borussia Dortmund, a German football team.
BTCC is one of the leading cryptocurrency derivatives exchanges in the blockchain space. Founded in 2011, BTCC offers a wide range of futures trading tools that allows crypto investors to earn a profit by correctly predicting future price movements of crypto assets.
For an added layer of exposure to the markets, BTCC allows traders to use up to 150x leverage, which means that minute market movements can be turned into lucrative investment opportunities with ease.
In this article, we will demonstrate how users can send their crypto from primarily spot trading focused Kraken to a crypto futures-specialized BTCC platform.
Why move your crypto from Kraken to BTCC?
As we’ve touched upon in the brief introduction, BTCC is a crypto derivatives-focused trading platform that allows traders to turn a profit by correctly identifying market trends and predicting future price movements of digital currencies like Bitcoin, Ethereum, and many more. BTCC users can choose from a number of future contract types, including daily, weekly, quarterly, and perpetual contracts.
While the Kraken platform features many products and services, ranging from an expansive spot market offering to a wide range of passive income-generating options, its futures trading offering pales in comparison to the one provided by BTCC. A glaring omission in Kraken’s offering, for instance, is the lack of non-perpetual futures instruments.
Here are the main advantages of using the BTCC crypto futures exchange:
BTCC is the longest-running digital asset trading platform in the blockchain space, uninterruptedly serving its customers since June 2011
One of the most attractive features of the BTCC exchange is the ability for users to use up to 150x leverage when trading futures
BTCC runs weekly challenges and exclusive promotions that can help investors reach a higher level of profitability than on competing platforms
Register an account on BTCC in just a couple of clicks
If you don’t yet have an account registered with BTCC, don’t worry, the whole process is very simple and takes less than a minute to complete. If you wish to open an account on BTCC, please proceed by clicking on the button below.
In addition to a wide range of supported digital assets, BTCC runs an enticing promotion tailored for newcomers. Within 7 days since the initial registration is made, users can claim up to $3,500 in USDT rewards by depositing funds and trading on the platform.
Deposit crypto to BTCC from Kraken
Transferring cryptocurrency from Kraken to BTCC is very straightforward and requires no advanced crypto knowledge. While the guide below features screenshots from the BTCC app, do note that the process of depositing crypto to BTCC is virtually the same as using the desktop client.
Step 1
After successfully logging into your BTCC account, click on the “Deposit” button located in the Assets menu.
Step 2
Continue by choosing your desired deposit currency. For the purposes of this guide, we will be using Tether (USDT), specifically the ERC-20 variant. Keep in mind that selecting the same blockchain network on the deposit and withdrawal platform is paramount. Selecting a different blockchain network can result in a permanent loss of funds.
Step 3
Click on the “CopyAddress” button to store the blockchain address in the clipboard. If you’ve selected a cryptocurrency that requires additional information to facilitate a transfer, like XRP and its destination tag, copy that information as well.
Step 4
Log in to your Kraken account and withdraw the digital asset you wish to move to the BTCC crypto exchange.
Step 5
Navigate to the “Balances” menu and proceed by clicking on the “Withdraw” button.
Step 6
For the purposes of this guide, we will be withdrawing USDT. The process is virtually the same for any of the supported digital currencies.
Step 7
Select the network you’ll be using to send USDT from Kraken to BTCC. In our example, we’ll be using the Ethereum network, so we need to select the “TetherUSD (ERC20)” option.
Step 8
In the “Walletaddress” field, paste the blockchain address you’ve previously copied from the BTCC app. Click “Next” to continue.
Step 9
Enter the amount of USDT you wish to withdraw from Kraken. If this is your first time transferring money between blockchain addresses, you might want to send a smaller amount first, to make sure that everything is working as intended. Click “Review” to proceed.
Step 10
After reviewing the parameters of the withdrawal, namely the blockchain network used, the withdrawal amount, and the fee, swipe a finger over the bottom of the screen to confirm the transfer.
Step 11
Head back to the Assets menu in the BTCC app and click on the USDT option to open “TransactionDetails” to view detailed information about recent transfers. Keep in mind that the speed of transactions can vary depending on the level of network congestion, so you might have to wait a couple of minutes before funds are deposited in your BTCC account.
Bottom line
Depositing cryptocurrency from Kraken to BTCC is fast, secure, and the whole process can be completed within just a couple of minutes. Once the funds are successfully deposited in your BTCC account, you are free to tap into crypto futures markets and take advantage of BTCC’s wide range of derivatives contracts and sophisticated trading tools. Hopefully, this article served its purpose and was successful in helping you transfer crypto funds from Kraken to BTCC.
If you are interested, you can take a look at other similar guides, showing how to transfer crypto to BTCC from Binance US, FTX US, KuCoin, and Coinbase:
After three weeks of mostly sideways price movement, Bitcoin lost 8% and dropped below $22,000 today
The drop in the value of Bitcoin coincides with the release of the Fed’s report that outlined high interest rate monetary policy would likely continue until 2024
Ethereum, BNB, Cardano, and the majority of other digital assets also experienced large price drops
Bitcoin hits three-week low as sell-off hits the crypto market
Bitcoin lost more than -8% today, plunging to late July price levels and erasing most of the gains accrued in the past three weeks. BTC/USD traded as high as $25,130 earlier this week and hit a daily low of $21,510 earlier today.
The drop in the value of the world’s largest cryptocurrency comes on the heels of the announcement of the US Federal Reserve, which revealed in Wednesday’s report that the strict monetary policy of interest rate hikes would likely continue for the better half of the next year.
The report documenting last month’s meeting of the Federal Open mark Committee (FOMC) noted that the Fed would continue raising interest rates as long as the 2% inflation rate goal is achieved. The government agency believes that inflation will eventually stabilize at 2% sometime in 2024. For context, the US Consumer Price Index (CPI) hit its highest point in decades in June 2022, reaching 9.1%, due to the rising prices of energy and other essentials.
Earlier this month, the Bureau of Labor Statistics revealed that the CPI did post a year-over-year increase of 8.5% in July, which is a notable decrease from the month before, which suggests that the FOMC’s policy of increasing interest rates does help in brinding the inflation rate down.
Prominent crypto analyst “il Capo Of Crypto”, with nearly half a million Twitter followers, wrote on Friday that consolidation below $22,500 forecasts a bearish outlook for Bitcoin. “New lows are just a matter of time,” he added.
It is worth noting that Bitcoin, much like other expansionary assets like tech stocks, performs best in a low interest rate environment feaguring high velocity of money and easy access to capital.
In addition to Bitcoin, the price of virtually all other digital currencies also nosedived in the last 24 hours. Apart from Gnosis, which is showing a 4.7% daily price upswing, all other top 100 market cap coins are showing negative price changes.
The sudden drop in the market value of digital currencies has led to over $570 million in liquidations. According to CoinGlass, Bitcoin derivative traders alone lost $216 million in the past 24 hours.
It’s been a tough time for the crypto market to say the least. The much-feared crypto winter is finally upon us and with inflation continuing to rise we can only expect more FED interest rate hikes and market downturn.
However, there are some altcoins that, despite the odds, continue to outperform the rest, here are our top 4 picks.
Chain Protocol (XCN)
Chain is a cloud blockchain to help build financial services on the interwebs. The project includes both Chain Core – a permissioned and open source blockchain – and Sequence, a public ledger, allowing for maximum cloud interoperability.
The Chain Token (XCN) serves as a governance and utility token for the Chain Protocol. The token is used to vote on protocol improvements and programs as well as more functionalities in the ecosystem.
The XCN is currently at $0.082 with a short-term peak at $0.089 at the beginning of May and almost 90% rise compared to USD. The growth comes after improvements including discounts, premium access, and payment methods done on the blockchain, and could very well continue into Q4.
Ethereum (ETH)
Ethereum is one of those projects that doesn’t need an introduction. The blockchain is creating one of the most ambitious DeFi networks, that aims to provide P2P services and products to all users.
Ranked second in market cap the project is unique due to its smart contract functionality, which allows agreements between parties to be fulfilled without having to pass by a centralized institution.
ETH has been suffering in this crypto winter, however, the tides are changing so it deserves a spot on the list. The coin has been gaining on BTC for 2 years now and that trend is only set to continue with the release of ETH 2.0. Ethereum has seen an over 100% growth since its bottom in June, now sitting at around $1750, due to the expected transition from proof-of-work to proof-of-stake in the middle of September. If successful, the growth will continue into Q4, making it a great pick for the crypto winter.
Choise.com (CHO)
Choise.com is the first MetaFi ecosystem that aims to simplify the usage of DeFi products. The platform connects the DeFi and CeFi space in just a couple of clicks. The token is based on the fast-growing MetaFi idea which combines the functionalities of CeFi and services for earning of DeFi.
At the heart of Choise.com is an in-house DeFi ecosystem called Charism with its earn products that unlock cross-chain high yield for over 100 million CeFi crypto users worldwide. One of the most recent product updates are limited DeFi interest accounts that allow users to earn up to 26% APR on the platform’s native CHO token, as well as several others.
In simple terms, Choise.com lowers the barriers of entry to DeFi, and the market sees its potential. CHO is currently trading at $1.01 and has seen an over 85% raise since its launch back in June. The project is still small in market cap, coming around the 3000th in size, meaning that the potential gains are exponential.
UNUS SED LEO
The last pick is UNUS SED LEO, a midcap gem that works as a utility token across the iFinex ecosystem. The protocol allows users to save on trading fees and other expenses when using the Bitfinex crypto exchanges.
Due to its utility and closeness with the Bitfinex exchange, as well as Tether, the stablecoin leader, UNUS has had a lot of attention and has seen backing from big capital in the space. The coin is currently trading at around the $5.40 mark, defying the crypto winter and seeing an almost 40% gain in the last year making it a great pick for your portfolio.
Conclusion
The future of the crypto market depends on the decisions of the US Federal Reserve. What rules it all are interest rates, if the next inflation statistics come in lower than expected in September we could see a rebound into Q4. However, if the data isn’t that promising, then the FED will be forced to raise interest rates crashing the market further.
Bear markets are never pretty, however, there’s no need to despair, traders can always look for promising coins that help us ride out the crypto winter and even profit on top of that.
