The cryptocurrency market is in a bear market and is not the only financial market in the current predicament. The bond, forex, and stock market are in similar positions due to global macroeconomic conditions. These conditions have caused a bear market, leading to a slash in the prices of crypto assets. Furthermore, investors have become quite conservative as they move to conserve capital. Additionally, investors may miss the opportunity to buy the dip if they continue in this manner. Therefore, investors are advised to research small cap projects which have the potential to perform well when the market cycle turns. This means that investors could take advantage of a positive turn in token prices.
The best way to ensure you do not squander your capital on dud projects is through thorough research into key areas. Every cryptocurrency project should be examined for its tokenomics, community, tokenomics, and use cases. These four pillars will give you an idea of how well a crypto project performs and if it would be a good purchase. Solana (SOL), Uniswap (UNI), and HypaSwap (HYPA) are three cryptocurrency projects to watch for this bear market.
Solana (SOL)
Solana (SOL) is a layer 1 blockchain built by the Solana Foundation. It is faster, cheaper, and scalable with larger block size. The project was launched in 2020 although it was originally conceived in 2017. The Solana blockchain is suitable for developing DEFI projects and smart contracts, making it attractive to developers. Additionally, the blockchain can also host dApps (decentralized apps) which developers can build on its platform. All these developments have earned Solana the “Ethereum killer” title.
Solana uses a Proof of History (PoH) consensus mechanism. It is a derivative of the Proof of Stake (PoS) consensus mechanism and is used to secure and validate transactions on the blockchain. The blockchain is a great destination for developers as it gives them the tools necessary to build and scale their projects. SOL is the utility token of the blockchain, and it is used to validate transactions and staking for securing the network.
Uniswap (UNI)
Uniswap (UNI) is a decentralized exchange (DEX) that facilitates the trading of ERC-20 tokens using an AMM (Automated Market Maker) model. ERC-20 Tokens are built on the Ethereum network and adhere to its blockchain standards. Uniswap launched in 2018 and has since then provided decentralized trading services to its users. Trading on Uniswaps occurs between traders and liquidity pools. These pools are funded by liquidity providers who deposit their tokens in exchange for a share of trading fees.
Uniswap was created to solve the problems associated with the earlier decentralized exchanges and has succeeded in creating a more stable protocol. The UNI token is its governance token which holders can use to decide and shape the future of Uniswap. The Uniswap DAO has over three hundred thousand members that control its $1.6 billion treasury. The DAO can be joined by any user who has UNI governance tokens.
HypaSwap (HYPA)
HypaSwap (HYPA) is a decentralized exchange protocol built on the Ethereum (ETH) blockchain. The HypaSwap protocol facilitates the lending and borrowing of crypto assets. Furthermore, HypaSwap has developed collateralization, security, and liquidity pool mechanisms that make transactions easier. The protocol uses the HYPA token for various functions on the protocol which include interest rates, staking, and receiving rewards. The HypaSwap protocol also gives liquidity providers the fTokens which are used as receipts for accepting deposits. For example, if a user deposits 10 ETH tokens, they will receive 10 Tokens in return.
The project is selling tokens in its ongoing pre-sale and investors who want to get in on the ground floor are invited to purchase tokens. Additionally, there are available bonuses for users who purchase tokens during the pre-sale. For example, you receive an 11% bonus when you purchase HYPA with ETH and a 20% bonus when you use BNB. Furthermore, you get a 6% bonus when you purchase tokens in stage 1 of the sale, 4% for stage 2, and 2% for stage 3.
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