Captitalize on the Current Market Recession by Buying These 3 Cryptocurrencies. Nothing in this content should be construed as advice, it is meant for informational purposes only.
Since the crypto crash, experts have been making forecasts while users ponder their next move. As a result, there is plenty of uncertainty in the market. The collective capitalization of the cryptocurrency market, which was 3 trillion dollars in November 2021, is currently around 850 billion dollars at the time of writing. We will look at a couple of cryptocurrencies and see what impact the crypto crash has had on them before looking at the credentials of new options.
Axie Infinity (AXS) ranks at number 42 with a market cap of 3.6 billion dollars. One AXS token has a price of 13.4 dollars at the time of writing. Both these numbers have fallen by 9.2% in the last 24 hours. The volume of tokens trading in the same period is 186 million, declining 3.94%. The effects of the crypto crash are clearly at play.
AXS is a blockchain-oriented trading and gaming platform partially operated and owned by users. The makers of Axie Infinity (AXS) sought inspiration from famous games like Pokemon and Tamagotchi. The gameplay allows players to amass, reproduce, raise, battle, and swap token-based creatures called Axies.
Axies can assume various forms, and players have more than 500 options to choose from to build their characters, including aquatic, bird, plant, and reptile-based parts. These parts are divided into four tiers: common, rare, ultra-rare, and legendary.
Every Axie is a Non-Fungible Token (NFT) and boasts different features and strengths. For example, players can engage in a three versus three battle, and the triumphant team earns experience (EXP) points, enabling them to upgrade their character’s body parts. In addition, if these characters breed offspring, they can then be sold on the Axie marketplace.
The Axie Infinity (AXS) ecosystem also consists of governance tokens, known as Axie Infinity Shards (AXS). Users can vote and determine how funds in the Axie Community Treasury are spent.
Gala (GALA) is the 82nd-ranked cryptocurrency on the market. It has a market cap of 1.8 billion and a token price of 0.052 dollars (both have fallen 8.3% in 24 hours). The trading volume simultaneously is 199 million dollars (up 13.8%). This shows that Gala is showing positive signs despite the crypto crash.
Like AXS, Gala is also a blockchain-based gaming platform. However, instead of spending hundreds of dollars on in-game assets, GALA will allow players to seize control, own NFTs, and have governance rights.
User voting privileges allow them to vote on what games Gala (GALA) should develop and how funding is allocated. Until now, Gala has launched one game called Town Star and an NFT collectible series named VOX.
The term Supontis combines the English word Super and the Latin term Pontis, which means bridge. It is a platform with cross-chain capabilities built on BNB Smart Chain.
PON consists of Decentralized Autonomous Organization (DAO) in its governance, and users can access a level of decentralization that wasn’t previously available. A staking component is also included, backed by a BEP20 token (PON) built on Binance Smart Chain (BSC).
Practically, Supontis (PON) allows users to transmit tokens between two blockchain networks. How Supontis works is that the system locks the assets in the first chain and then creates the same number of tokens in the other chain, which are unlocked.
Alternatively, if you want to reverse engineer the process, you can move the tokens in the second chain onto the first one. Then, the tokens locked in chain one will be unlocked, and the tokens in chain 2 will be burned. PON also has a staking feature that runs on a proof-of-stake (PoS) consensus model, meaning users can earn extra cash while supporting the network.
While AXIE’s numbers have fallen across the board, the trading volume of Gala (GALA) tokens is up, which is a sign that the market may recover, slowly but surely. This bodes well for Supontis (PON) as well.
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