Three Crypto Coins to Watch Out for in the Current Bear Market
2022.05.30 17:41
Three Crypto Coins to Watch Out for in the Current Bear Market
- A bear market is a cycle in the stock markets where prices drop by more than 20% on average and is a prolonged period of losses over gains.
- Some investors also look at this time in the markets as an opportunity to accumulate cryptos at a discounted rate.
- Three tokens to watch out for in this bear market are ADA, DOT, and ETH.
A bear market is a cycle in the stock markets where prices drop by more than 20% on average and is a prolonged period of losses over gains. Many investors see a bear market as the markets crashing, which, in some cases, it is. However, some investors also look at this time in the markets as an opportunity to accumulate cryptos at a discounted rate.
With so many options in the crypto space, it can be overwhelming to choose the right projects to invest in. In this article, we will examine three projects that have massive upside potential.
First on the list is Cardano, with the token symbol ADA. Cardano is the brainchild of Charles Hoskinson and his team and is designed to be a next-gen evolution of the Ethereum blockchain. The technology promises to be a flexible, sustainable, and scalable platform for running smart contracts.
Cardano is one of the few projects that are picking up steam even during the bear market. One of the main events coming up for the Cardano network is the Vasil Hard Fork. This will increase the utility of the network and make it more scalable, among other things.
The next project to look out for is Ethereum (ETH), with its long-awaited upgrade coming up later this year called “The Merge.” This will migrate the ETH network from Proof of Work to Proof of Stake. Not only will this make it more eco-friendly, but it will also make it more scalable.
ETH is the second biggest project in terms of market cap, and there is a debate going around in the crypto community that is referred to as “The Flippening,” which is the debate around whether or not Ethereum will take over Bitcoin’s number one position in the market.
Last on the list is Polkadot (DOT), which is a network protocol that enables the cross-chain transmission of arbitrary data. This makes it a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible. Polkadot continues to introduce numerous advanced technologies and trading tools into the crypto market.
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.
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