Crypto buyers, now turned millionaires, ruled the cryptocurrency market in 2021, as digital assets surged, showing their best performances to date.
In 2022, the coin market turned bearish and most crypto tokens lost their value anywhere between 70% and 90%. Despite the crypto crash, buyers’ sentiment continues to be positive, as the “millionaires’ era” of the last year continues to inspire them.
There is a rush to identify and purchase the crypto coins that can spike big and create profit in this bear market.
PancakeSwap (CAKE), Ethereum (ETH), and Dogeliens (DOGET) are among the crypto tokens to buy amid the current market volatility. Some seasoned buyers continue to see them as their best hope to diversify portfolios while making the most during the dip.
Ethereum (ETH): Too Big To Fail
In the DeFi world, Ethereum has acquired a position that could be considered too big to fail. After its 2015 introduction, the Ethereum blockchain revolutionized the coin market, and ETH then rose to a peak of $4,878 in November 2021. Following the crypto crash in June 2022 and the bear market conditions, ETH is now trading at less than a fourth of its 2021 value. Despite the slide, Ethereum remains one of the backbones of the coin market and any bull run can’t ignore it.
ETH holds $127 billion in market cap making it the second largest in the cryptocurrency market. Ethereum is third when considering the daily trading volume. Though it is facing tough competition from third and fourth-generation blockchains, Ethereum remains a reliable choice for creating and running smart contracts or dApps.
Ethereum is globally accepted and upcoming Merge and ETH 2.0 updates can make it superior, less energy intensive, more functional, and more adoptable. This will have a direct impact on ETH’s price growth.
PancakeSwap (CAKE): A Cake Worth The Price
The food-themed DeFi platform has $2.9 billion in total value locked. Launched in 2020 on the Binance smart chain platform, CAKE immediately won the trust of the coin market and gained a $4.9 billion market cap within a few months. It has several unique features, such as:
- Users have greater control over their funds.
- Non-custodial CAKE holding allows full user control over CAKE and immediate exchange of it.
- It provides quick transactions and the addition of coins to the wallet.
- PancakeSwap offers low-cost transactions. Fees are just 0.25%.
- The platform enables the swapping of CAKE with BNB chain-based crypto coins.
- Staking of CAKE leads to passive income.
- There is a liquidity pool and a matching reward scheme. About 65% of trading fees generated go to pay rewards to CAKE holders.
- PancakeSwap lottery is a daily reward scheme with an entry fee of $5.
- Those holding cryptocurrency stocks can earn from CAKE farming.
PancakeSwap is holding strong in the coin market. The recent backing by the Binance Lab and others indicates its potential to grow and amass massive gains.
Dogeliens (DOGET)
The upcoming, new-generation meme coin has generated lots of expectations in the cryptocurrency market just before its presale goes live. Many consider Dogeliens as a worthy successor to Dogecoin and Shiba Inu and even have the potential to surpass their market exploits. Backed by a high-utility model, DOGET is a fusion of fun, entertainment, serviceability, and sources of income.
The new cryptocurrency focuses on community values. Dogeliens gives both a rewarding experience and an array of incentives. It has a dedicated reward system to promote and boost DOGET adoption and staking. The coin is an inflationary one and targets growth while Dogeliens allows cross-chain swapping of crypto tokens.
Dogeliens uses games and other innovative concepts to make a technology-embellished push in the Metaverse. The trading on the platform remains secure, private, and anonymous. Anyone can create a wallet and trade without any conditions. With the objective of a wider marketing push, Dogeliens plans a social media and advertisement blitzkrieg. It also provides avenues for accessing crypto learning resources through the University of Barkington and Dogeliens Academy.
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Source: https://thecryptobasic.com/2022/08/11/3-crypto-coins-capable-of-making-millionaires/?utm_source=rss&utm_medium=rss&utm_campaign=3-crypto-coins-capable-of-making-millionaires