Tech stocks took a major hit on Thursday as the biggest companies all took major hits amid bad earning forecasts and weak third-quarter results.
Meta was the biggest loser, crashing 24.56% to close at $97.94 following a disappointing revenue outlook.
Apple (-3.05%), Microsoft (-1.98%), and Google (-2.34%) all fell as the tech-focussed Nasdaq as a whole fell 1.6%.
The news came amid the crypto market returning above $1 trillion for the first time in six weeks, as the asset class continues to slowly decouple from traditional market forces.
With many of the top cryptos still way down in 2022, investors may consider this a good time to buy low.
IMPT – Unique Carbon-Offsetting Protocol
One such project traditional stock investors may wish to consider is green crypto project IMPT, which will use blockchain technology to help fight climate change.
Currently in the second stage of its presale, the project has attracted huge attention and sold out stage 1 a month ahead of its deadline – raising $11 million in just three weeks.
IMPT wants to increase carbon-offsetting efforts of individuals and companies in two ways, by making carbon credits fully tradeable and by allowing shoppers to earn them when shopping.
Carbon credits allow companies to emit a certain amount of greenhouse gas, with 1 credit equal to one tonne of carbon dioxide.
Carbon Credit Trading
While governments impose mandates on companies, the voluntary market is currently much smaller – worth around $2 billion annually – but is estimated to grow to $100 billion by 2030, according to Bloomberg.
IMPT will make carbon credits – which fund global conservation projects – tradeable for all.
As well as being tradeable, IMPT will also allow credits to be retired – permanently taken out of circulation – in exchange for unique NFTs.
IMPT hopes to not only improve carbon-offsetting efforts but to use blockchain technology to make trading more transparent and reduce fraudulent activity.
Earn Carbon Credits
The second way users can acquire carbon credits is to earn them while shopping.
IMPT has partnered with more than 10,000 retailers, with globally recognized brands such as Amazon, Microsoft, and River Island among them.
Retailers can select what percentage of sale they wish to return to the shopper in IMPT tokens, which can then be converted to carbon credits.
Furthermore, shoppers will be able to make greener choices by shopping at brands that offer a higher percentage.
IMPT Presale Info
The second stage of the IMPT presale has just started, with tokens now selling for $0.023 each. The price will increase again for the third and final stage, up to $0.028 – a 55% increase from stage 1 ($0.018).
A total of 1.8 billion (60%) of the max 3 billion supply is on sale during the presale period, with tokens having no vesting period.
Another 10% went to early adopters in a sale, with the remaining 30% split between the team (5%), marketing (10%), and the ongoing development of the project (15%).
Undervalued Cryptos
The crypto market is hugely down in 2022 and the short-term market appears bleak, with some traders predicting more lows before the end of the year.
However, longer-term investor sentiment remains very bullish with many projects expected to grow exponentially in the coming years.
There are tens of thousands of cryptos on the market, building the Web3 future and tackling all manner of issues.
Bitcoin
Bitcoin (BTC) is the biggest and most well-known crypto but is down 70% from its all-time high and is currently trading at around $20k, with many analysts claiming it’s an undervalued crypto.
But with the next halving approaching – expected in early 2024 – prices are expected to shoot up in 2023.
Furthermore, analysts have predicted Bitcoin trading at anywhere from $100,000 to $1 million by 2023 making it one of the best long-term crypto investments.
Ethereum
Ethereum (ETH) is the top altcoin on the market and has long been a favorite of crypto investors.
Whether the ‘flippening’ – ETH flipping BTC to top spot – ever happens may be irrelevant.
After the Merge, which saw Ethereum become 99.99% more energy efficient, and another major upgrade (sharding) expected in 2023, Ethereum’s long-term prospects look ros