With the current bear market, cryptocurrency projects have significantly declined their token prices. For example, Bitcoin (BTC) and Ethereum (ETH) lost around 60-70% of their market cap, while the other tokens in the cryptocurrency market have shared similar fates.
As prices continue in this downward trend, investors cannot predict when the bear market will end, so they must adapt. One strategy investors can employ is to rebalance their portfolio by removing tokens that have performed poorly and replacing them with cryptocurrency projects with good prospects.
Another strategy is to conserve your capital by allocating your capital to stables while you watch market movements. It is important to conduct thorough research into any cryptocurrency projects before making purchases. Proper research would prevent you from purchasing projects with bad tokenomics and fundamentals.
There are a few projects with good prospects in this uncertain bear market. Three of the cryptocurrency projects that are making waves in the bear market are BNB (BNB), Polkadot (DOT), and Petrousus Token (PSUS). These projects are built on solid fundamentals and offer utility to their communities. Here is a summary of the three cryptocurrency projects to get a better feel for the project.
BNB (BNB) is the native token of the Binance Smart Chain (BSC). It is the blockchain owned by Binance, the largest cryptocurrency trading platform by volume. The Binance Smart Chain is a fast, cheap, and secure blockchain. BNB is the utility token for the blockchain and has multiple uses within the Binance ecosystem.
One of its utilities is facilitating transactions on the blockchain. Another utility is staking to secure the network and earn rewards. BNB burns half of the fees received from transactions as proposed in BEP-95, modeled after the Ethereum (ETH) EIP-1559 proposal.
The BNB token is at the heart of the decentralized Binance network, which has many crypto projects in its portfolio. Additionally, BNB allows users to experience the speed, trust, and cheapness of the Binance Smart Chain. Furthermore, developers will use BNB to access the full capabilities of the Binance Smart Chain when deploying smart contracts.
Polkadot (DOT) is a multi-chain protocol for connecting blockchains. The Polkadot protocol helps blockchains to transfer data between each other while maintaining full interoperability. In addition, Polkadot supports the transfer of all types of data using its protocol, and it is not restricted to blockchain tokens.
Polkadot secures the digital assets and data that are transferred using its protocol, and there is zero data loss during the process. The Polkadot project aims to become the infrastructure layer of web 3 by being the main bridge between the different blockchain networks.
DOT is the utility token of the Polkadot protocol, and it performs various functions, including securing the network through staking. In addition, Polkadot is self-sufficient as it can update its codebase without creating any forks, and community votes control this. The Polkadot protocol will create a new standard of asset security and transference for web 3 projects.
Petrousus Token (PSUS)
Petrousus Token is a DEFI project that aims to unify all DEFI services at a single point, making them more accessible to users. The project wants to increase access to decentralized finance for everyday users who are seeking alternatives to banks.
Petrousus would deliver fast throughput and a seamless experience that would ensure users can perform transactions without any lags or delays. In addition, it would empower its users to do more with their money and unlock the power of decentralized finance.
Petrousus Token is built on the Binance Smart Chain (BSC), and its PSUS token uses the BEP-20 token standard. The BSC was chosen because of its scalability and cost-effectiveness.
The blockchain is ideal for handling large users without additional gas fees or network congestion. To get bonuses from the token pre-sale, you can purchase PSUS using USDT (TRC-20) to receive an 18% bonus, while ETH would give you 14% more PSUS tokens.
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Credit: Source link