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 from their all-time highs. The previous crash has shaken investor confidence in various crypto segments.
However, market participants are bullish on some plans, believing that cryptocurrency will usher in a significant change in the global financial system.
Crypto analysts have said that investors should consider yield-based crypto assets, which pay users interest on their crypto holdings. They predict that these products will become more popular in the future.
The projects listed below are believed 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 revenue but don’t want to manage and link multiple pools.
Gnox creates a decentralized ecosystem that passively rewards its holders. Each transaction is subject to a ten percent tax, six percent of which is set aside to help the DeFi hoard.
This cash is new to the industry and is used by the protocol to provide liquidity to safe pools while earning interest on investments. Their holders receive a percentage of the profits generated by these investments in BUSD, depending on the size of their portfolio.
Using this strategy, Gnox encourages long-term investment by paying dividends to users for simply holding the token. Since payment is made in stablecoins, investors are protected from market volatility and low liquidity. All of these features, coupled with redemption events, aim to preserve the inherent value of cryptocurrency.
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 an open financial infrastructure, it uses a basket of pegged fiat stablecoins that are algorithmically stabilized by its reserve currency, PAE.
The network processed approximately $299 billion for over 2 million users as of December 2020.
The advantage of algorithmic stablecoins over their collateralized counterparts is that they are much more capital efficient. Ripae Finance’s experienced team will work to extend this concept of a capital-efficient algorithmic stablecoin and build on previous iterations to strengthen the foundations of the ecosystem.
Holders of the token can stake their pFTM-FTM LP in “Tellers” to earn PAE rewards. Then they can stake their earned EAP in the “Bank” to earn more pFTM. Stakeholders can complete this process on the platform’s website.
The crypto industry has entered a new bear market after losing $500 billion. Since July of last year, the cryptocurrency has not had a market capitalization 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 the presale: https://presale.gnox.io/register
Disclaimer: This is a paid version. 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 the information available in this content. Do your research and invest at your own risk.