Cryptocurrencies to Start the Summer Season with – Parody Coin (PARO), Polygon (MATIC) and Aave (AAVE)
It is officially summertime – the season of sunshine, joy and good energy. What many people are hoping for this new season is to make a fortune by investing in viable cryptocurrencies. After the daunting month of May, people are hoping for a brighter future and a strong recovery for the crypto market. Furthermore, individuals are looking to divert away from investing in popular crypto coins, as the chances of them declining can sometimes be higher than the smaller and upcoming tokens. Three cryptocurrencies that have a good probability of providing you with significant financial fortune are Parody Coin (PARO), Polygon (MATIC) and Aave (AAVE). This article will explain why these three coins have great potential to be successful this season and onwards.
Why Parody Coin (PARO) is a cryptocurrency to look out for
A new utility coin that is emerging in the crypto market is Parody Coin (PARO), which is an Ethereum based project that runs under the Binance Smart Chain (BEP-20). In their whitepaper, they state how they aim to facilitate the trading, minting and access to the utility of parodies of favourite NFTs on the BNB chain as well as other blockchains. Token holders of PARO will also find the value in the decentralised applications (dApps) launched in the Parody ecosystem.
They have three key utility features which are promoted on their website: Parody Bridge, Parody Swap and Parody Market. Parody Bridge is a bridge which permits participants to transfer Parody coins to other blockchains. Furthermore, the Parody Market constructs Parody NFTs out of other big bluechip NFTs whilst allowing users to mint them. The Parody Swap feature is quite self-explanatory – it allows users to swap any crypto within any blockchain for an equivalent amount of Parody coins. It is scheduled to go into stage two of its presale in five days – where they plan to introduce its NFT marketplace, upgrade its website, add liquidity to PancakeSwap and plan to be listed on CoinMarketCap.
The Ethereum Based Token – Polygon (MATIC)
Polygon (MATIC) is an Ethereum scaling and infrastructure development platform that was founded in October 2017 by Jaynti Kanani, Anurag Arjun and Sandeep Nailwal. The blockchain network efficiently modifies Ethereum into a full-fledged multi-chain system, which allows the MATIC currency to be transferred to blockchains such as Cosmos, Avalanche and Polkadot. On their website, they state how they aim to enable developers to build scalable user-friendly dApps with low transaction fees, whilst having solid security.
Additionally, Polygon is also a layer 2 scaling solution – referring to how the project’s developers are content with the blockchain layer and do not plan on changing it anytime soon. Its uniqueness comes from focusing on diminishing the complexity of instant transactions across blockchains and scalability. It is currently ranked eighteenth on CoinMarketCap along with having a high market capitalisation of $4,798,097,398 as of 7 June 2022. Keep an eye out for MATIC this summer if you want a secure multi-chain compatible coin.
The Community Governed Token – Aave (AAVE)
Aave (AAVE) is a decentralised finance (DeFi) protocol that gives people the ability to borrow and lend over twenty cryptocurrencies. This amount provides people with a large variety of choice when it comes to transferring their funds. The term Aave translates to ‘ghost’ in Finnish, had previously been named ETHLend when it came into inception in November 2017 but rebranded the following year. It has several unique features, being one of the largest projects when it comes to the total value of crypto locked in its protocol. Additionally, token holders are able to alternate between variable and fixed interest rates. It is currently ranked in the top 50 most profitable cryptocurrencies according to CoinMarketCap. If you are interested in having a variety of coins to lend and borrow this summer, Aave may be the one for you.
As the summer season begins, it is only right for investors to diversify their portfolio by trying new coins, Parody, Polygon and Aave are the ones to invest in. It is recommended to independently research to discover whether they would be viable investments for you, but they are all worth looking into.
More information on Parody Coin (PARO):
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