The ongoing bear market, which began this summer after crypto markets crashed alongside global financial markets, is showing no signs of slowing down. The ongoing bear market is responsible for some of the major occurrences in the cryptocurrency over the last few months, some of which are sure to leave long-lasting effects on the industry. An example is the wave of staff layoffs among major crypto platforms such as BlockFi, Coinbase and Gemini. Top ranking officials within these companies say that the reason for such drastic measures is purely insurance motivated. In hindsight, these layoffs seem well thought out as the conditions within the industry continue to worsen.
Despite this, extensive market analysis shows that some altcoins are faring relatively well in the market, all things considered. There is a significant possibility of these altcoins exploding amid worsening market conditions. In this piece, we examine three altcoins that fit the bill. Here is everything you need to know about Chainlink (LINK), Uniswap (UNI) and Privatixy Protocol Token (PXP).
Introducing New Cryptocurrency Privatixy Protocol Token (PXP)
Privatixy Protocol Token (PXP) is the native cryptocurrency of Privatixy Protocol, an open-source protocol that provides a wide range of privacy-preserving solutions to an industry otherwise lacking in that area. Privatixy Protocol emphasizes decentralized technology adoption and usability. Privatixy Protocol will serve as a backbone of blockchain technology and the cryptocurrency industry with its many remarkable features, such as access to alternatives to privacy-invading services.
PXP plays an integral role in the Privatixy Protocol’s operation and ecosystem. With the token going on presale in the coming weeks, it could be a viable long-term cryptocurrency investment in the long run. Early investors stand to gain an additional 6% token bonus for purchasing PXP in the first stage of its presale. For more information on PXP, click here.
Chainlink Is Showing Significant Promise
Chainlink (LINK) is a blockchain abstraction layer that enables universally connected smart contracts. Chainlink (LINK) achieves this through a decentralized oracle network, which allows blockchain networks to securely interact with external data feeds, events and payment methods and provides the critical off-chain information that complex smart contracts need to become the dominant form of digital agreement. Its native cryptocurrency, the LINK token, is integral to its operation and ecosystem.
LINK is a top 30 cryptocurrency by market cap, with a live market cap of $3,166,827,528, a circulating supply of 469,099,970 LINK coins and a max. supply of 1,000,000,000 LINK coins. The token facilitates payments, transactions and staking on Chainlink. Staking allows LINK holders to secure the network in exchange for rewards and is a new feature on the Chainlink platform.
As a top 50 crypto by market cap, LINK is available on several top crypto platforms such as Huobi Global, Coinbase Pro, Gate.io and Kraken.
Uniswap (UNI) – Don’t forget About This Classic
Uniswap (UNI) is a well-known Decentralized Finance (De-Fi) protocol in the cryptocurrency industry. Like many De-Fi platforms, Uniswap (UNI) is reputable for enabling the automated trading of crypto tokens. Unlike traditional exchange platforms, Uniswap (UNI) seeks to make token trading automated and entirely open to anyone who holds tokens. Additionally, it creates more efficiency by solving liquidity issues with automated solutions and avoiding the problems which plagued the first decentralized exchanges.
Its native cryptocurrency, UNI, is integral to all operations conducted on the platform. UNI facilitates payments, transactions and other crypto-related activities. A top 20 cryptocurrency by market cap, UNI is available on a plethora of crypto platforms, including Binance, Huobi, Coinbase Pro, Uniswap (V2) and Uniswap (V3).
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
