With the general downward trend of the economy, investors are losing money. And they fear more money could disappear, as the bear market persists.
In the cryptocurrency sphere, token holders are feeling pressure to sell their digital assets. Some prospective investors don’t even want to give crypto a try. Sticking to more liquid or traditional assets like cash and bonds seems to be the more logical move.
But is it? We believe that, with the right crypto picks, accumulating wealth is still possible during this bear market. In this article, we discuss three tokens that prove us right.
Gnox may be an unfamiliar name compared to Bitcoin or Ethereum, but this DeFi earning solution is worth your attention. Many DeFi users are already banking on and advocating for this platform because it is easy to use while being infinitely scalable.
Gnox is also suitable for all kinds of investors—whether you are experienced or a novice, and whether you operate privately or as an institution. Through a special yield farming service and an income-sharing scheme applied to taxes that are paid for all transactions, Gnox offers opportunities for passive income and bonuses. As such, it presents strong potential for a solid long-term investment.
Binance Coin (BNB)
Before turning your back on crypto, you should also take a closer look at Binance Coin (BNB). A few days ago, the CEO of Binance, Changpeng Zhao, tweeted that he has not sold any of the BNBs in his portfolio, which indicates his confidence in the token.
BNB is, of course, the utility token that powers the BNB Chain ecosystem—the largest crypto exchange in the world by trading volume. Binance is known to outpace the transaction speed of Ethereum at much lower costs. As more people stay in the chain for its exchange and other DeFi services, the value of BNB will continue to strengthen.
Solana is another good pick during the bear market. It is said to be the fastest-growing crypto ecosystem with thousands of DeFi and Web3 projects.
This platform is also making a name for itself in the NFT space and, as such, is becoming a rival of Ethereum. According to a recent DappRadar report, the number of NFT trades on Solana doubled between the first and second quarters of 2022. The trading volume on this platform also increased by 40% while that of Ethereum declined by the same amount.
Despite the widespread market downturn for cryptocurrency, investors can fight their fears and worries by putting their money on coins that are defying the current downward pull of the economy. When it comes to cryptos, learn to pick well and invest in coins that have a long-term view on gains.
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