Bear markets are a period in an industry where there is an abundance of extreme market volatility and negative prices. Since the summer after crypto markets crashed alongside global financial markets, the cryptocurrency industry has been in a bear market that has refused to let up. It is currently putting a strain on the day-to-day activities of crypto regulars, such as investors and traders.
Within the current climate, crypto regulars are turning to various methods and strategies to beat the bear market. One popular method is long-term cryptocurrency investing. With long-term cryptocurrency investments, investors can mitigate the effects of the bear market and yield massive returns. It is a strategy that has worked well and could prove helpful in the current market.
However, choosing the right altcoin to invest in can be a herculean task. This is why we discuss three altcoins that could be fantastic investment options in the ongoing bear market. Here’s why every investor should consider Binance Coin (BNB), Chainlink (LINK) and Moshnake Token (MSH).
Binance Coin (BNB) The Traders Favourite
Binance Coin (BNB) is a highly sought-after cryptocurrency within the industry. It is native to the Binance crypto exchange platform and serves as its primary medium of exchange. Binance Coin (BNB) is responsible for many operations, including network governance and for making gas fees or transaction taxes on Binance’s decentralized exchange (DEX) platform.
Since its launch, Binance Coin (BNB) has become a trader favourite within the cryptocurrency industry. This is a result of several reasons, the most prominent being that the token is cheaper and does not produce dust. Binance Coin (BNB) holders are entitled to several benefits on the Binance platform, such as trading fee discounts.
As the native cryptocurrency of a popular crypto platform, Binance Coin (BNB) is a top 4 cryptocurrency by market cap available on most crypto platforms within the industry.
Chainlink (LINK) The Blockchain Based Platform
Chainlink (LINK) is a blockchain-based platform that solves the interoperability problem within the cryptocurrency industry. It makes it possible to get information in and out of a blockchain without compromising security or exposing the system to vulnerabilities and allows blockchain networks to interact and share information in a trustless manner. By operating in this manner, Chainlink (LINK) keeps the system secure, trustworthy and decentralized. With Chainlink (LINK), blockchain networks can access information such as event results and price feeds.
Chainlink’s native cryptocurrency, LINK, is an integral part of its ecosystem and is responsible for facilitating several crypto-related operations, such as staking for security and rewards, network governance and payment fees. It is a highly sought-after cryptocurrency available on several top crypto platforms like Binance and Coinbase Pro.
Moshnake Token (MSH) The New Crypto
Native to the Moshnake crypto gaming platform, Moshnake Token (MSH) is an upcoming cryptocurrency attracting much interest from the gaming community and the cryptocurrency industry at large. The token has already been dubbed the next big gaming coin by crypto experts and looks likely to become a valuable asset in the current climate. Moshnake Token’s appeal comes from its real-life applications, use cases, supply and roadmap. The token plays an integral role in the Moshnake ecosystem, which seeks to deliver a nostalgic experience to the gaming community.
Moshnake Token (MSH) is gradually approaching its presale and could make for a valuable long-term cryptocurrency investment. It presents an opportunity and a lifeline for struggling investors in the bear market. For more information on the Moshnake Token (MSH), watch this space.
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