This week started with a bang in the cryptocurrency market, and not a positive one.
A significant crypto sell-off has plagued the market with Bitcoin (BTC) dropping below $33,000 for the first time since July 2021, demonstrating a red alert in the crypto industry when its biggest asset is moving towards dangerous territory.
The influence of Bitcoin has hit most of the market hard with fellow top 10 cryptocurrencies by market cap, Cardano (ADA) and XRP (XRP), also experiencing a notable drop in performance.
While the market is currently in freefall, FIREPIN Token (FRPN) will enter the third and final phase of its presale in 12 hours, at this time of writing.
FIREPIN Token (FRPN) prepares to enter final presale stage
The end is near for FIREPIN Token (FRPN).
In 12 hours, the community-driven DAO (decentralised autonomous organisation) platform will enter its third phase of presale before officially launching on May 27th.
Founded in February 2022, it’s been a rapid rise to the top for the FIREPIN platform, which has so far experienced a hugely successful presale.
FRPN said in its white paper that “FIREPIN intends to create the FIREPIN Token to enable the community growth to be the best in the crypto sector while also securing the token’s quick long-term growth”.
The aims and objectives of the project certainly reflect their ambition of reaching a huge number of people to become not only the best, but the biggest community, within the crypto space.
By buying the FRPN token, users will be able to participate in the development of the metaverse NFTs gaming platform.
Holders of FRPN will also be able to receive rewards, as well as be able to participate in decision-making and vote on proposals, due to FIREPIN’s position as a DAO.
There is a total supply of 100 billion FRPN tokens with 30 billion available to purchase during presale which comes to an end in just over two weeks.
Cardano (ADA) come-down continues
Cardano (ADA) isn’t alone in its market struggles, having declined by 36.6% in the past 30 days, according to data from CoinGecko.
ADA was at the top of its game in September 2021 when it achieved its all-time high (ATH) of $3.09, but it’s been a horror show in the crypto market since then.
A drop of over 78% from its ATH to its current price of $0.64, at this time of writing, has been a significant fall from grace for the blockchain platform extraordinaire.
Not only has the cryptocurrency market failed to replicate the same level of growth of 2021, but the increasing strength of Bitgert, a blockchain rival, has slightly overtaken Cardano’s influence as an ecosystem and as a token.
XRP (XRP) is another casualty of the crypto sell-off
Despite being ranked as the sixth biggest cryptocurrency globally, amassing a market cap of almost $25 billion, according to data from CoinMarketCap, XRP (XRP) is not immune to dips.
An almost 20% drop in the past 14 days for XRP has decimated its price which sits at $0.51, at this time of writing.
According to some crypto experts, XRP will reach a price of $1.49 by the end of 2023, over double its current price.
Join Presale: https://presale.firepin.io/register
Website: https://firepin.io/
Telegram: https://t.me/FIREPINOFFICIAL
Twitter: https://twitter.com/FIREPIN_io
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Source: https://www.thecoinrepublic.com/2022/05/12/the-stage-is-set-for-firepin-tokens-frpn-third-presale-phase-as-cardano-ada-and-xrp-xrp-continue-to-dip/