Axie Infinity (AXS), Hedera (HBAR) and Parody Coin (PARO): The Best Crypto Tokens To Invest In During The Bear Market. This is a sponsored advertising post. Nothing in this content should be construed as advice, it is meant for informational purposes only.
The bear market does not seem to be ending anytime soon. In fact, according to crypto news today, many holders have begun to sell their crypto stocks. A new report from Arcane Research indicates that publicly traded Bitcoin miners such as Marathon Digital and Riot Blockchain sold more BTC than they produced last month. This is a big step up from the first four months of the year when they sold only about 30% of what they produced. If this trend continues, it could push the Bitcoin price further down. We are sure to see how this plays out in the coming months.
Despite this, the bear market still provides an ideal opportunity for long-term cryptocurrency investment. With crypto prices going down, investors will surely get the best deals on the most promising altcoins. Axie Infinity (AXS), Hedera (HBAR) and Parody Coin (PARO) are the best altcoins to invest in during the market, and in this piece, we examine why.
Axie Infinity (AXS) is a popular blockchain-based game inspired by older battling games such as Pokemon and Tamagotchi that allows players to collect, breed, raise, battle and trade token-based creatures known as Axies. These Axies and other in-game objects are represented by NFTs that the players entirely own. On the platform, Axies can take various forms, and there are more than 500 body parts available, including aquatic, beast, bird, bug, plant and reptile parts.
The parts from each type class come in four different rarity scales: common, rare, ultra-rare and legendary. Axies can have any combination of body parts, making them highly variable and often rare and unique. Additionally, users can breed Axies together to produce new and unique offspring, which can be used or sold on the Axie marketplace.
The Axie Infinity platform has its primary cryptocurrency known as the Axie Infinity Shards (AXS) token. AXS is an Ethereum–based ERC-20 token that acts as a governance token on the Axie Infinity platform and is used to participate in crucial governance votes. AXS holders have a say in how funds in the Axie Community Treasury are spent.
According to Coinmarketcap, AXS has a live market cap of $1,138,275,101, a circulating supply of 81,535,877 AXS coins and a max. supply of 270,000,000 AXS. It is a top 50 cryptocurrency by market cap and is available on several popular crypto platforms such as Binance, Huobi Global, Coinbase, FTX, Bithumb, KuCoin, Gate.io and Kraken.
Hedera (HBAR) is a sustainable, enterprise-grade public network that allows individuals and businesses to create powerful decentralised applications (dApps). The platform seeks to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face, such as slow performance and instability.
The Hedera (HBAR) platform is not built on top of a conventional blockchain, unlike most crypto platforms. Instead, it introduces an entirely different type of distributed ledger technology known as a Hashgraph. This tech allows Hedera to improve upon the limitations of many older blockchain systems, including speed, cost, and scalability. The platform’s native token, HBAR, is available to trade on several crypto platforms, including Binance, Bittrex and Huobi Global.
Parody Coin (PARO) is an upcoming crypto platform that seeks to provide viable solutions to the current limitations of the NFT industry, such as accessibility and costliness. Parody Coin (PARO) is building an ecosystem on the BNB Chain (BNB) and other blockchain networks that facilitates minting, trading and interaction with Parody NFTs.
To curb the costly nature of purchasing NFTs in the industry, the Parody ecosystem will provide the capacity to mint and sell NFT parodies. The Parody ecosystem will also feature a token swapping protocol, a dApp store and an NFT marketplace, amongst others.
More information on Parody Coin (PARO):
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