Introduction
The crypto crash of 2022 may not be the first time the market has faced a dramatic downturn, but it’s the worst collapse. For the sake of comparison, when cryptocurrency had only been around for a couple of years, the price of Bitcoin fell from 32 to 0.01 dollars. It took almost two years before a recovery transpired. The “crypto winter” this year is remarkably different. For instance, back then, Bitcoin was the only pertinent cryptocurrency since it started the trend. While Bitcoin may still be the market-leading token, it’s far from the only cryptocurrency on the market. When the current slump happened, more than twenty thousand tokens were actively trading on the market. As we write this, the total is fast approaching twenty-one thousand.
The biggest blemish on the industry is that its market capitalization fell by more than two trillion dollars. In the wake of such significant losses, how does a market recover? Is a rebound even possible? If so, how many years will it take? To answer the queries mentioned above, we will look at different tokens, like Avalanche (AVAX), Chainlink (LINK), and Lynqyo (LNQ).
Avalanche (AVAX)
First up is Avalanche (AVAX), which ranks in 16th place with a token price of 18.9 dollars and a market cap of 13.6 billion. Both values have dropped 1.9% compared to yesterday. AVAX’s daily trading volume is 295 million, an increase of 0.8%. Beyond the numbers, Avalanche is a layer-one blockchain that supports decentralized applications (dApps) and custom blockchains. AVAX is considered one of Ethereum’s chief competitors. The makers of Avalanche aim to usurp Ethereum as the primary choice for smart contracts.
How will AVAX manage to become the first option for users? For starters, the platform will facilitate a faster output of up to six thousand five hundred transactions each second. Even more impressive is that the process will be streamlined and not impact scalability. Avalanche is equipped with a specific architecture that empowers it. The network boasts three distinct blockchains called X-Chain, C-Chain, and P-Chain. Naturally, each chain has a different objective, in stark contrast to platforms like Bitcoin and Ethereum, which is that all nodes authorize all transactions. On AVAX, several consensus protocols are utilized, depending on use cases.
Since its mainnet launched in 2020, developers at Avalanche have been hard at work, creating an ecosystem consisting of decentralized options like decentralized finance (DeFi) and applications (dApps). As for compatibility, various Ethereum-based projects like TrueUSD, and SushiSwap can combine with AVAX. Extensive research has been conducted to improve interoperability through the implementation of bridges. In terms of relatively recent releases, Avalanche is one of the more successful ones. In a short time, the platform has risen in the rankings with a commendable market cap, and an impressive ecosystem to boot. Created by Ava Labs, AVAX is the brainchild of Emin Gun Sirer and his colleagues, whom all work at Cornell University.
Sirer is seasoned in cryptographic research and had worked in the field of peer-to-peer (P2P) virtual currency for years before Bitcoin’s emergence and subsequent rise of cryptocurrencies. Sirer was involved in Bitcoin scaling and focused on research relating to Ethereum. Moreover, Sirer laid the groundwork for the invention of Avalanche with more than a decade of research. Ava Labs was founded in 2018, and early investors include Polychain and Balaji Srinivasan. AVAX had a phenomenal initial coin offering (ICO), raising a whopping forty-two million dollars in under twenty-four hours!
We alluded to the designated chains earlier, and now we will shed light on them. Avalanche has three principal blockchains, the first of which is the X-Chain. The Exchange Chain enables token holders to transfer and receive funds, which is its sole purpose. Transaction fees are a constant 0.001, and X-Chain utilizes a directed acyclic graph (DAG). The second chain is the P-Chain. The Platform Chain allows users to stake AVAX tokens and support validators. The final one is the C-Chain or Contract Chain, the dedicated DeFi and smart contracts chain. All three networks are protected by the Primary Network, an exclusive subnet.
Chainlink (LINK)
Like Avalanche, Chainlink is well-positioned. LINK ranks at number 24 based on a market cap of 6.85 billion and a token price of 6.85 dollars. In the past twenty-four hours, both figures have remained constant. However, Chainlink’s trading volume has risen 14.6% to 349 million. Chainlink (LINK) was founded in 2017 as a blockchain abstraction layer for smart contracts. LINK boasts a decentralized oracle that sanctions blockchains to safely engage with external data feeds, payment measures, and events. The key players on the Chainlink platform are smart contract developers, data providers, researchers, node operators, and auditors.
Moreover, LINK was created by Sergey Nazarov, who is also the chief executive officer at Chainlink Labs. A former teacher at New York University, Nazarov co-founded ExistLocal, a P2P marketplace in 2009, and CryptaMail, decentralized email service in 2014. The same year, he also co-founded SmartContract, a dedicated platform for smart contracts. All of Nazarov’s experience led him to Chainlink. LINK distinguishes itself from the competition by enabling the integration of smart contracts with off-chain data. Through numerous associations, Chainlink has become a critical player in the data processing. LINK’s partners include Huobi, Alpha Vantage, and Brave New Coin.
Lynqyo (LNQ)
What Avalanche and Chainlink have in common is that both platforms are well-established at the top end of the market. A new token hoping to emulate their success is Lynqyo. LNQ consists of creators, developers, and designers, all working towards creating a decentralized project that incentivizes activity on the platform. The team behind Lynqyo believes that content creators have the power to influence our culture, and their work impacts the public at large. LNQ will utilize Web 3.0 tools, which are its USP.
Users on the platform can own, monetize and scale content. In addition to Web 3.0 applications and tools, LNQ is decentralized and token holders can search, evaluate and exchange non-physical content. Another name for Lynqyo is Content Economy Protocol. LNQ facilitates intangible content tokenization, and involves automated royalties and fan gifts. A key component of Lynqyo is a micro-decentralized autonomous organization (micro-DAO), which grants governance privileges to token holders. Users can vote for or against implementations and determine the platform’s future.
Furthermore, Lynqyo consists of liquidity pools, made possible through DeFi instruments such as subscription payments and guaranteed lending. Through its Content Economy Protocol, LNQ will provide a collective ownership feature. Lynqyo exists on Polygon’s network. There are three main functions of LNQ. The first objective is governance since users can contribute to the platform by voting. The second attribute is utility; Lynqyo processes payments in financial transactions, like subscription fees and smart contracts. The final function is proof of engagement. Users are given tokens according to the user engagement rewards ratio (UER).
Tokenomics
LNQ’s tokenomics are mentioned below:
- 100 billion tokens will be available in total
- 50% will be accessible at presale
- 25% to be disseminated among exchanges
- 10% to be distributed between partners
- 5% to be allocated to team members
- 5% to be given to advisors
- 5% to be apportioned to marketing
Conclusion
Based on the attributes mentioned above, Lynqyo has enough to sustain itself in a challenging marketplace. In addition, Lynqyo’s initial price will be 0.00004 dollars. If the information provided above has piqued your interest, we suggest getting involved early on. In stage 1 of the presale, you will receive a 7% bonus. Stage 2 comes with a 5% bonus. If you recommend LNQ to a friend and they invest three hundred dollars in the token, both you and your friend will get a hundred-dollar bonus.
For more information on Lynqyo (LNQ), you can visit the following links:
Presale: https://buy.lynqyo.com
Website: http://lynqyo.com/
Telegram: https://t.me/LynqYO
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
