The bears have tightened their grip on the cryptocurrency market, causing increased volatility and extreme selling pressure for investors.
Major crypto tokens have lost up to two-thirds of their value since their all-time highs. The previous crash lowered investor confidence in various crypto segments.
However, market participants are bullish on some projects, believing that cryptocurrency will usher in a significant change in the global financial system.
Crypto analysts said investors should consider yield-based crypto assets, which pay users interest on their crypto holdings. They predict that such products will become more popular in the future.
The projects listed below are thought to be capable of fighting the current crypto bear market.
1. Gnox (GNOX)
“Making DeFi Easy” is Gnox’s tagline, implying that their token is for people who want exposure to DeFi income but do not want to manage and bridge to multiple pools.
Gnox is creating a decentralized ecosystem that rewards its holders in a passive manner. Each transaction is subject to a ten percent tax, of which six percent is set aside to help the DeFi treasury.
This treasury is new to the industry and is used by the protocol to provide liquidity to safe pools while also earning interest from investments. Their holders receive a percentage of the profits generated from these investments in BUSD, based on the size of their portfolio.
Using this strategy, Gnox encourages long-term investment by paying users dividends for simply holding the token. Because the payout is made in stable coins, investors are protected from market volatility and low liquidity. All of these features, in combination with buy-back events, are aimed at preserving the cryptocurrency’s inherent value.
2. Ripae Finance (PAE)
Ripae Finance is a decentralized financial payment network that uses blockchain to rebuild the traditional payment stack.
To facilitate programmable payments and the development of open financial infrastructure, it uses a basket of fiat-pegged stablecoins that are algorithmically stabilized by its reserve currency, PAE.
The network has transacted an estimated $299 billion for over 2 million users as of December 2020.
The advantage of algorithmic stable coins over their collateralized counterparts is that they are much more capital efficient. Ripae Finance’s experienced team will work to expand this concept of a capital-efficient algorithmic stable coin and build on previous iterations to strengthen the ecosystem’s foundation.
Holders of the token can stake their pFTM-FTM LP in the “Tellers” to earn PAE rewards. Then they can stake their earned PAE in the “Bank” to earn more pFTM. Stakers can do this process on the platform’s website.
Conclusion
The crypto industry has entered a new bear market after losing $500 billion. Since July of last year, cryptocurrency has not had a market cap of $1.25 trillion. While the majority of major crypto tokens have seen their prices fall in recent weeks, the above cryptocurrencies have seen rapid growth despite the bear market.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io
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