Avalanche(AVAX), Polygon (MATIC), and Mushe Token(XMU) are coins to watch out for when bull market resumes
May 31, 2022
New Delhi [India] May 31 (ANI/ATK): Cryptocurrencies pose a decent way for users to invest their assets but being the volatile assets they are, they come with quite the risk, and it's up to investors to do due diligence before committing funds to them.
What Is Happening In The Market?
The year 2022 has not been good for crypto assets except for a few like NFTs. Cryptocurrencies are said to be in a bear market, the general sentiment about the market is not very bullish, and investors are fearful and uncertain.
The market is down by almost 60 per cent from its all-time high market cap of USD 3 trillion. Top coins like Bitcoin and Ethereum have been unable to hold close to their all-time high- they are all down horrendously.
But as it is with cryptocurrencies, such moves are expected, and investors always aim to buy the dip and catch the bottom to ride the price back up and make some profit.
This article mentions a few coins to look for when the bull market resumes and investors' confidence generally increases.
The Profitable Potential Of These Tokens
Avalanche (AVAX)
Avalanche is a layer 1 blockchain that combines scalability capabilities and quick confirmation times through its Avalanche Consensus Protocol. The network arose from the need to solve some of Ethereum's issues with scalability.
So because it's an ethereum derivative, it provides support for tokens, DeFi, NFTs, and more. It has been a major chain for DeFi and accommodates top 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 over USD 4 billion in total value locked in its protocol. It was over USD 10 billion before the price drop, making it the 3rd largest ecosystem for DeFi.
Avalanche has, however, taken a massive hit in price. It hovers around USD 22 after reaching an all-time high of over USD 140 in November 2021.
It has been around USD 80 - USD 90 for most of the year until Terra's algorithmic coin collapse. Avalanche is closely associated with the Terra ecosystem and, as such, fell by over 40 per cent after the crash.
Because all of the utilities Avax poses to the system still exist, it's safe to believe that Avax is at a considerable discount now, and it's one coin to watch out for when the bull market resumes and investors' confidence begins to build back up.
Polygon (MATIC)
Polygon is a layer 2 blockchain providing a solution to scalability issues faced by ethereum. It operates as a sidechain to ethereum and helps to connect and grow ethereum-compatible projects and blockchains.
They recently launched Polygon Studios, a subsidiary of Polygon focusing on blockchain gaming and NFTs, and they have recorded immense success.
Polygon is one of the top-performing NFT networks, and it continues to grow. MATIC, the native token, is used for governance and related stuff.
The token is at USD 0.5 from an all-time high of USD 2.9. The current market cap is about USD 4 billion, and it's one coin to expect to return to its all-time high once the market normalises.
Mushe Token (XMU)
Mushe token(XMU) is a decentralised token that powers peer-to-peer transactions and an ecosystem combining DeFi, NFTs, and gaming.
Mushe token is an attempt to, first of all, drive mass adoption of cryptocurrencies before building other use cases.
The token has shown potential regarding connection in the crypto space and a possibility of a massive uptrend once it launches.
Mushe Token is in the presale stage, and you can register here to buy the token at the lowest price you'd ever find it.
XMU is temporarily built on the ethereum blockchain and will eventually move to the Stellar open network known for its cheap transaction costs and easy inclusion of newbies.
The token improves on the bitcoin model and wants to show the potential crypto has to power day-to-day activities and businesses.
Join Mushe Token's Presale:
https://portal.mushe.world/sign-up
https://mushe.world
https://t.me/musheworldXMU
This story is provided by ATK. ANI will not be responsible in any way for the content of this article. (ANI/ATK)
