Cryptocurrency is the investment opportunity many people like because of the potential for massive profit.
The volatility of the crypto market allows traders to take advantage of markets the massive ups and downs. A crypto asset could be 20% down today and 25% up tomorrow. These are volatilities traders take advantage of as they can trade the market either way.
Because investors aim to buy cryptocurrencies at the lowest price they can find, they target entry points in the bear market and find suitable price points to be fully invested. Investors target the presale price for new projects because it’s the lowest and best entry price for any crypto asset.
Avalanche (AVAX), Binance Coin (BNB), and Mushe Token (XME) are cryptocurrencies both existing and new to watch out for this year. They have shown great utility and are quite undervalued when looking at the growth potential.
All cryptocurrencies are currently affected by the bearish situation of the market. Despite the market being down, NFTs have been popping quite well–rounding up the immense volume in the market, owing to developments from top collections like Bored Ape Yacht Club.
The creation of the project’s ApeCoin(APE) and another 100k collection called Otherdeeds saw massive volume in the market and sent the NFT market in a frenzy.
However, the coins you should watch out for:
Avalanche (AVAX) is a layer-1 protocol created to help scale Ethereum to enable faster and cheaper transactions. The network has been successful so far in that regard.
It supports everything the Ethereum network carries, including DeFi, NFTs, etc. DeFi on Avalanche (AVAX) held over $13 billion total value locked(TVL) as of December 2021. The network has taken a huge hit after the Terra crash due to its close association with Terra. The total value locked on Avalanche is down to around $4 billion since Avalanche started dropping in price.
The AVAX token currently trades around $24 despite reaching an all-time high of $144. Avalanche (AVAX) would be a decent cryptocurrency to buy because it still provides every feature it used to, and this can be referred to as a dip.
Avalanche (AVAX) shows great profit potential because buying around this area guarantees some profit when the market normalizes. And say the coin returns to its all-time high, around 500% profit.
Binance Coin (BNB)
Binance Coin (BNB) is the native token of Binance, a centralized exchange for trading cryptocurrencies. It’s the biggest coin after Bitcoin and Ethereum, except for USDC and USDT stable coins.
Binance Coin (BNB) is a rewards and fee token for the Binance Smart Chain, a layer-1 blockchain derivative of Ethereum, and hopes to score higher in scalability and serve as an alternative for Ethereum. With the fall of Terra and some other layer-1 Ethereum solutions, Binance Smart Chain is emerging as a solution for users to fall back.
Binance Coin (BNB) currently trades around $300 from an all-time high of $686, making it available at some discount. The price seems like a decent entry for profit for anyone looking for where to invest in this market.
Mushe Token (XMU)
Mushe Token (XMU) is a new decentralized token that allows for peer-to-peer transactions, incentives, and governance. This is important to the token’s ecosystem because it provides liquidity to the native exchange and a smooth user experience.
Mushe Token (XMU) aims to accelerate blockchain adoption by making digital assets more accessible to the general public. The project is motivated to have a positive social effect by educating people about digital currencies and financial management.
Mushe Token (XMU) employs a bitcoin model and aims to become a world currency. It would be nice to buy this on presale, as it poses some potential for an enormous profit. Find out more here:
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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