CIP-30 To be Activated on Cardano Soon, Solana Re-Enters Top 10 Digital Asset, Snowfall Protocol Early Investors To Profit Over 5000%
The crypto market has been in a positive cycle lately, with many tokens seeing instant price gains. However, it is yet to be seen if tokens such as Cardano (ADA) and Solana (SOL) will be able to maintain their high growth rates for a long time. On the other hand, some newly launched tokens like Snowfall Protocol (SNW) have been growing consistently since launch. In this article, we will discuss what makes Snowfall Protocol (SNW) stand out from pre-existing and well-known tokens like Solana (SOL) and Cardano (ADA).
Cardano (ADA) developer discloses plans of CIP-30
A developer and contributor to the Cardano (ADA) crypto ecosystem, Adam Dean, has shared the specifics of his work on CIP-30. To connect crypto asset storage with decentralized applications, hot wallets based on Cardano (ADA) need the functionality of web page interaction, which may be achieved with the help of the proposed Cardano (ADA) enhancement. WooCommerce is the most popular e-commerce platform, and now Cardano (ADA) Mercury can be used as a direct payment channel between customers and business owners.
On the price front, Cardano’s (ADA) recent analysis shows that after a strong bullish period, Cardano (ADA) is trading at $0.36. After a few days of ups and downs, the price is 11% higher than it was earlier this week when it hit a high of $0.31. However, technical analysis suggests that the price might fall in the foreseeable future. Cardano (ADA) is still 78% below its price in January 2022, and it will take a long time for the cryptocurrency to recover.
Solana’s (SOL) dramatic price increase may fade soon
After a seven-day surge that saw its value increase by more than 70%, Solana (SOL) got ahead of Polygon on January 15, pushing it to the tenth spot on CoinMarketCap’s list of top crypto assets by market cap. Solana (SOL) returned to the list pushing other well-performing tokens below, especially after the FTX collapse of 2022. The sentiment toward Solana (SOL) appears to have turned positive again, as its price has increased by roughly 135% since the start of 2023.
In the past week, the market value of Solana (SOL) has risen from $5 billion to nearly $9 billion. Further, Mamba, the co-founder of the Solana (SOL) project, stated that believers in the token’s progress bought the coins, leading to a dramatic price increase in just 15 days. The growth of Solana’s (SOL) ecosystem was paralleled by the birth of a new meme coin, Bonk Inu. Solana (SOL) is still much behind its all-time highs and the token’s future depends upon the overall investor interest, which may fade over time.
Snowfall Protocol (SNW) wins in terms of price gains
Though the market was experiencing a dip, Snowfall Protocol’s (SNW) value has been steadily increasing. Snowfall Protocol (SNW) has performed very well since it was launched in the crypto market, and investors have been keen on finding what’s next for the revolutionary token. Despite the decentralized system not yet being live, investors of Snowfall Protocol (SNW) have seen remarkable returns of 500% since the token’s first presale phase.
The final Stage of Snowfall Protocol’s (SNW) presale is presently active, and the token is being offered at a 400% premium over its Stage 2 prices. Snowfall Protocol (SNW) is an attractive investment due to its low price of $0.191, and the benefits it provides its users. Snowfall Protocol (SNW) is set to launch on February 3. In the months following the coin’s launch, investors may witness profits exceeding 5000% of their initial investment.
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Coinbase Set to Profit Big with Ethereum Shanghai Upgrade: JPMorgan Analyst
Ethereum Shanghai upgrade is coming in March, centralized exchanges led by Coinbase are providing staking services not willing to store private keys. According to JPMorgan analysts, the upcoming Shanghai upgrade, which will make over 16,097,225 staked Ethers available for withdrawal, will be a huge boost to Coinbase operations. Notably, Ethereum stakes have not been withdrawing their Ethers since 2020.
“Staking in Ethereum forced holders to lock up their Ether indefinitely, which we have viewed as a big dis-incentive to stake ETH historically,” JPMorgan analysts noted in a letter to investors. “We think the Shanghai Fork could usher in a new era of staking for Coinbase.”
Coinbase is heavily reliant on trading fees to make quarterly earnings aside from the digital assets on its balance sheet. The introduction of staking programs significantly diversifies the company’s revenue collection avenues. With Ethereum being the second largest digital asset – about $28.15 billion in total value locked (TVL) – the exchange is keen to tap into the network’s future.
“In Q3, we launched Institutional staking for Ethereum globally and while adoption is still in its early days, we are optimistic about the long-term opportunity. In addition, we offered users additional utility for their staked Ethereum through our wrapped cbETH product. This product allows users who own Ethereum to “wrap” it, allowing them to continue to earn yield on their assets via staking, while also being able to buy or sell that asset,” Coinbase noted in 2022 third-quarter earnings results.
Coinbase launched Cardano (ADA) and Solana (SOL) staking during the first quarter and second quarter of 2022 respectively. Notably, the crypto exchange generated approximately 11% of its 22Q3 revenue from staking, compared to 6.2% during the same period the year before.
Litecoin (LTC) And Dogecoin (DOGE) Struggle To Yield Profit As Snowfall Protocol (SNW) Announce 100% Bonus On Investment
Crypto investors are becoming concerned following the collapse of the renowned crypto exchange platform FTX and the subsequent failure of Binance’s takeover of FTX. Coin prices have plummeted overnight, with well-known coins such as Litecoin (LTC) and Dogecoin (DOGE) among the victims.
However, the Snowfall Protocol (SNW) presale has generated so much interest recently, given its successful first round of presale. In fact, the Snowfall Protocol (SNW) team announced a 100% bonus on investment before the token’s price surge next week.
Let’s look into why crypto specialists predict the Snowfall Protocol (SNW) will be at the top of the rankings in 2023.
Litecoin (LTC) Finds It Difficult To Reach Former Glory
Litecoin (LTC) was designed to overcome the problems associated with expensive and time-consuming transactions. Hence, it was established as a cheaper platform for miners to work on.
Litecoin (LTC) debuted at $3, but it quickly acquired value, increasing by 140% in 2020. By the end of 2021, Litecoin (LTC) was worth more than $146. However, the volatility of the bear market has affected most of crypto’s big names, the price has plunged to $76.76 and doesn’t appear to rise any time soon. In dire times like these, smart investors are attracted to projects like Snowfall Protocol (SNW) for their solid foundation and enormous potential to thrive in bear market conditions.
Dogecoin (DOGE) To Witness Drastic Slumps
Following the prolonged crypto winter, experts predicted a bearish movement for Dogecoin (DOGE), with a 2023 price projection of $0.000016. Dogecoin has dipped far from its peak price of $0.731578, indicating an 88.10% loss at its current price of $0.1. Dogecoin (DOGE) investors continue to sell their holdings because the meme coin’s lack of utility is a drawback under harsh market situations.
Meanwhile, Snowfall Protocol (SNW) has soared to unprecedented heights barely a month after its presale release, propelled by its real-world applicability to exchange fungible and non-fungible tokens.
Snowfall Protocol (SNW) Offers Investors Huge Returns
Let’s start with the Snowfall Protocol (SNW) announcement which drove the crypto community into a frenzy. Snowfall Protocol has announced that all new investments will receive a 100% bonus. The announcement has had such a favorable influence on the token that it has piqued the interest of Dogecoin (DOGE) and Litecoin (LTC) investors.
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Trader’s Best Advice For Making A Profit: Read 5 Tips
In this article, you will read about the best trading tips given by the best traders. “Market Wizards: Interviews with Top Traders” by Jack Schwager is a book that anyone interested in trading is always told to read. It was first released in 1989 and is a collection of interviews with well-known American traders who made their fortunes in the markets. It’s a book that belongs on everyone’s bookshelf. Read this timeless guide for trading advice from some of the world’s top investors:
- Determine Your Trading Approach
Traders can operate on different time scales, employ varying strategies, and participate in a wide variety of marketplaces. Whether it’s focusing on minute-by-minute fluctuations in price throughout the day or trying to anticipate and capitalise on broad, longer-term patterns that might span months or even years, every great trader has a tried-and-true approach to market analysis.
- Consider The Use Of Risk Management Techniques
Risk management was a topic that came up repeatedly among traders. There are a few factors involved here. You should only risk a small portion of your capital on each trade so that losing the trade won’t significantly impact your trading account. Keeping a target height in mind is also recommended (or a stop loss placed on your trade). In the event that this threshold is reached or the stop loss is triggered, you will recognise your error and accept the loss.
- Financial Losses Must Be Accepted
Loss acceptance is intrinsically linked to risk management. Although seasoned traders understand that accepting small losses is inevitable, many of us have a hard time accepting it as a given when we first start trading. If you allow a losing streak to go on for too long, a single trade can wipe away your profits from a string of wins. All of the traders polled were confident in their strategy’s ability to produce profits over the long term, and hence had no qualms about accepting temporary setbacks.
- Invest Some Effort Into Research And Market Comprehension
The traders spent a lot of time each day studying the market, making trades, and running the business. They weren’t merely gambling occasionally or making speculative trades. When it comes to trading, there are no fast cuts, yet their success was indicative of the work they put in.
- Find A Suitable Trade
Several of the traders interviewed stressed how important it is to be able to wait for the right opportunity on exchanges like btc-loophole.com. According to the recollections of a stock operator, he made a fortune by doing nothing but sitting on his hands. Holding a transaction for as long as possible to increase profits is a strategy that benefits from patiently waiting for the ideal moment to enter the market. Successful traders today still apply this strategy from nearly a century ago.
In Verdict
If you want to trade and become a successful trader, you should prepare by reading investor tips and tricks. Discipline, which they have shown over and over, has been a key part of their success. You will not have much success with a tactic if it does not sit well with you. Accept the loss and base your decision on expert advice.
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Which Cryptocurrency Will Profit the Most from the 2022 World Cup?
We are already in 2022, for the World Cup. As criticism of the hosts, Qatar, keeps coming, fans have been more and more excited for the start of the biggest sports event in the world. Blockchain-based projects can reap benefits from the World Cup, too. We’ve compiled a shortlist of the three most popular cryptocurrencies that are commonly referred to as “FIFA tokens” for your convenience.
Will The 2022 FIFA World Cup Be Good For Cryptocurrency?
People often put the FIFA World Cup at the top of the list of international sports competitions. There has been some criticism of the tournament’s organizer, but interest in the competition and attendance in Germany are both on the rise.
Sponsors can always count on a large amount of exposure during the World Cup of Football. It’s possible that crypto initiatives may be able to attract significant attention for the first time at the 2022 World Cup. because many ongoing initiatives and digital currencies now interact with World Cup governing organisations or have a focus on sports.
Is The FIFA World Cup Enough To Spark A Rise In Cryptocurrency Prices?
Over the past two weeks, most cryptocurrencies have taken a major hit due to the FTX crash. A general lack of trust is plaguing the cryptocurrency sector. The 2022 World Cup could change several initiatives.
As a result of the media hype, the value of some cryptocurrencies may surge in the next few weeks. After the FTX catastrophe, this might provide these coins with a fresh surge that lasts beyond 2023.
Which Token Stands To Gain The Most From This World Cup?
The 2022 FIFA World Cup is expected to have a significant impact on three major cryptocurrencies, which can be purchased through exchanges like crypto.com or Bitcoin Prime. Therefore, given the current low rates in the crypto market, investments in such enterprises should be seriously examined.
- Chiliz (CHZ)
A so-called “fan token” built on the Ethereum blockchain, Chiliz Coin is a cryptocurrency for Chiliz fans. You may find it on the socios.com domain. Socios is a community platform where fans may interact and where tokens representing various fandoms, as well as NFTs, can be purchased.
- Algorand (ALGO)
The environmental friendliness and long-term viability of the Algorand blockchain project have made it widely renowned. Furthermore, blockchain and FIFA are official partners. The World Football Association is only one of many worldwide partners for the cryptocurrency, which has been hailed as a “green” blockchain. This project also includes a FIFA wallet and FIFA NFTs.
- Chronos (CRO)
Chronos Coin was a Crypto.com coin. In the wake of the FTX catastrophe, the cryptocurrency exchange supporting the CRO has had to contend with a lot of investor mistrust.
Simply Put
Qatar hosted Sunday’s 2022 FIFA World Cup opening ceremony. Ecuador welcomed the host nation for the tournament’s first game. The four-week event ends on December 18. Crypto.com, on the other hand, is a World Cup sponsor in 2022. Consequently, the platform is increasing its emphasis on forming strategic alliances with big sports organisations and sporting events. In the next several weeks, this may also help the Chronos Coin.
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Don’t Ignore Oryen Network ICO In Favor Of Elrond Or Eos At Risk Of Missing Incredible Profit Opportunity
Initial Coin Offerings (ICOs) are god given gifts to investors. Unique to crypto, it allows investors to enter projects at virtually the same level as venture capital. The outcome for early adopters in successful projects almost defies the imagination.
A few hundred dollars suddenly becomes enough to buy a house. Do not ignore the Oryen Network (ORY) ICO in favor of established projects like Elrond (EGLD) or Eos (EOS). Both projects have already made early gains and cannot compete with Oryen regarding potential returns.
Oryen Network (ORY)
The market criminally undervalues Oryen and its wealth-building utility. Oryen pays out the highest stable returns in crypto and provides one of the most secure staking procedures within DeFi. Oryen’s developers pioneered the Oryen Autostaking Technic (OAT) system, which takes care of every angle of the earning process on behalf of investors. As soon as investors purchase ORY, smart contracts auto-stake it, and then smart contracts auto-compound yields once every hour. The compound effect is a fixed rate of 90% APY.
However, the OAT does lots more and is the invisible agent within the protocol. Funds channeled through the OAT build the pool’s liquidity depth, enrich the treasury allowing for greater expansion, and create a liquidity reserve wallet known as the RFV (Risk-Free Value). Oryen still possesses a relatively small market cap and is a project that will inevitably tear through the rankings when the market at large fully understands its value.
Elrond (EGLD)
Elrond is a layer-one blockchain that implements sharding to deliver incredible throughput. Elrond’s developers explicitly stated in the whitepaper that the Elrond network had to possess scalability equal to or greater than its TradFi counterparts. With a theoretical throughput of fifteen thousand transactions per second, it is fair to say the project succeeded.
Elrond launched via the Binance Launchpad and each EGLD sold at $0.65. Elrond has been massively successful, but the 100X opportunity no longer exists; it has already happened.
Eos (EOS)
Eos is another third-generation blockchain similar to Elrond in that its design function is to provide scalability. The Eos blockchain uses a Delegated Proof of Stake (DPoS) that powers a throughput of more than three thousand transactions per second. The Eos network also prioritized developer experience. This focus attracted lots of developers to build and grow the network.
EOS launched via ICO for $1.03 and, at its peak, reached a price of $21.64, netting early investors who timed their investment well 20X.
Closing Thoughts
Once a protocol sees adoption, the early gains disappear. Thousands of seasoned crypto traders are searching for the next undiscovered gem, and Oryen Network is already on plenty of professional’s watchlists.
Find Out More Here:
Join Presale: https://presale.oryennetwork.io/register
Website: https://oryennetwork.io/
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Argentina Moves Big Into Crypto Mining, Uniglo.io and Helium Could Profit From Countrywide Mass Adoption Of Crypto
The aftermath of the COVID-19 pandemic turned into a full-scale energy and financial crisis, seeing Argentina’s inflation skyrocket to 78.5%. Despite all this, Argentina made a major move into crypto mining, with YPD, Argentina’s state-owned energy provider planning to open an 8-megawatt mining plant.
Crypto Miners under pressure
BitPatagonia, one of the largest crypto mining companies in the South American country, got hit with a 400% increase in electricity costs earlier this year. The surge in electricity costs is not just the result of the accelerating energy and supply crisis worldwide but a policy change in Argentina.
Reportedly, the government imposed a massive hike in the electricity rates for wholesale customers, resulting in a 400% higher bill for BitPatagonia’s mine in Tierra del Fuego.
Implications for crypto adoption
With the state-owned energy provider entering the crypto mining arena, the country is signaling crypto-friendly regulations and policies for the future. Startups like Uniglo.io, Helium, and other blockchain startups are intrigued by the move that could lead to a countrywide storm on cryptocurrencies, seeing hundreds of startups pouring into the country to set up shop.
Uniglo (GLO) plans to launch on the 19th of November, yet with no physical office, the project could be potentially intrigued by a positive move towards crypto in Argentina. While it is no crypto mining company, its unique technology and solid development plan surrounding the Ultra Burn and GLO Vault would fit right into the Argentinian Silicon Valley.
Furthermore, Uniglo is still in its presale stage and reports that investments from Argentina and other South American countries are picking up.
Helium (HNT) is another unique project as Uniglo, which rewards its users for data transfers and wireless coverage via its physical devices. With Argentina’s current move, we will see over the coming weeks if Heliums order numbers pick up and more people start to set up their devices to earn cryptocurrencies.
Final thoughts
Cryptocurrencies are conquering countries, with Argentina being the latest convert of turned pro-crypto governments. Uniglo’s ICO is already profiting from the decision, while many other cryptos will also benefit in the future.
Learn More Here:
Join Presale: https://presale.uniglo.io/register
Website: https://uniglo.io
Telegram: https://t.me/GloFoundation
Discord: https://discord.gg/a38KRnjQvW
Twitter: https://twitter.com/GloFoundation1
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Big Eyes Coin Aiming For 10X Profit While The Sandbox And Axie Infinity Stagger In The Current Economic Downturn!
It is already known that the crypto market is highly competitive and volatile. Nevertheless, the crypto market has continued to grow exponentially and witnessed the release of several other emerging sectors in the Web3.0 space. The sudden price changes and speculative price change has made many overnight crypto millionaires around the world. However, as the market surges in value so quickly, it can also go bullish.
The recent crypto market crash has changed how people think about cryptocurrency and has affected its future. The crypto market is down almost 50%, and it is the best time to look for alternative options and presale cryptocurrencies. In this bear market, presale stag cryptocurrencies look like the best option to get massive profits. New cryptocurrency projects looking to be in the crypto space using strong use cases, real-life applications, community support, and marketing campaigns.
Trading in meme cryptocurrencies is extremely lucrative, as many developers compete to get into the meme sector and give massive profits. Meme coins stand out and are distinctive for their strategies for getting attention and interest through inventive and celebrity influence. In addition, some new projects give an edge over other crypto projects like Big Eyes Coin (BIG). Big Eyes Coin (BIG) is a new cryptocurrency built on the Ethereum blockchain. The crypto market has never been more awaited after announcing this project. It aims to build an ecosystem that significantly benefits the user. Big Eyes Coin (BIG) is creating FOMO amidst leading market players, and experts believe it will genuinely rule the crypto market.
Big Eyes Coin (BIG): Meme Coin To Revolutionize The Industry
Big Eyes Coin (BIG) decentralized meme coin, which distinguished itself from others through its branding and provided more to the meme market by constructing a blockchain that propagates hyper-growth through the use of NFTs that enables access to events and contents. With its community-centered approach, this platform will have a dynamic tax system structured to ensure its longevity by implementing Autoburn features like liquidity pools, marketing wallets, and acquisitions.
It aims to become a blockchain ecosystem that facilitates unrivaled user growth by leveraging NFTs to give them access to content and upcoming events. Big Eyes Coin (BIG) is a community-centered project that will have a dynamic tax system to ensure sustainability by implementing Autoburn features, Liquidity pool acquisition, and marketing campaigns. The team has plans to maximize its growth within a short period and has a clear roadmap for how it would do this. The platform will develop features that will benefit its users. One of the features is zero transaction fees, and no tax will be imposed on users. However, there will be a tax structure for trading NFT.
At the launch, 90% of the token will be available for users. In addition, it would have NFT events, allowing community members to participate and purchase various NFTs. The project is inspired by Japanese anime and draws inspiration from the country. Big Eyes (BIG) can be purchased at its ongoing presale.
How to buy Big Eyes Coin (BIG) Tokens?
You can purchase tokens and become an early member today by following these three simple steps:
Step 1
Make sure you have a Metamask wallet installed on your browser or use any of the wallets supported by “Wallet Connect.” If you are purchasing tokens on mobile, it is recommended to use “Trust Wallet” and connect through the built-in browser.
Step 2
Once your digital wallet is ready, click “Connect Wallet” and select the appropriate option. For example, for mobile wallet apps, select “Wallet Connect.” You will have three options:
- Buy ETH with a card
- Buy Big Eyes (BIG) with ETH
- Buy Big Eyes (BIG) with USDT
Step 3
Once the presale is ended, you will be able to claim your Big Eyes Coin tokens. For further information, visit the main site https://bigeyes.space/.
Axie Infinity (AXS): The Best Metaverse Game
Axie Infinity (AXS) launched in 2016, a non-fungible token-based play-to-earn game that incorporates non-fungible tokens (NFTs) and cryptocurrencies. It is defined as Pokemon-Esque, where instead of Pokemon, users will be able to interact with digital pets known as Axies. The game is a mix between Hearthstone, a famous digital collectible card game, and the well-known role-playing video game Pokemon. The gameplay is considered very straightforward in plain sight. Game mechanics revolve around battling, collecting, and raising digital pets called Axies which are designed as Non-Fungible Tokens (NFTs) and have their unique value in-game; new players must buy or borrow at least three Axies. Users can earn tokens by playing the game and contributing to the ecosystem.
Axie Infinity (AXS) aims to be a play-to-earn crypto game. Its new business model will create an open economy within the game, which delivers financial benefits to players who perform certain actions. In its gameplay, users own cute digital monsters known as Axies and take trunks, battling them against each other. Each Axie comes with a different ability based on its type. There are bugs, plants, birds, and other types of Axies. Players can earn digital currency by winning battles, breeding their creatures, and selling new characters to other players. The in-game economy includes Axies, which are NFTs, and two digital currencies: Smooth Love Potion (SLP) and Axie Infinity Shards (AXS), which have potential market value and can be sold outside the game.
One notable feature of this platform is that it runs on major desktop and mobile operating systems. More specifically, it runs on Windows, Android operating systems, and IOS and iPadOS. In other words, it can be installed and played on PCs, Android phones, Mac devices, and tablets.
The Sandbox (SAND): Fully Immersive Experience
The Sandbox (SAND) launched in 2011, a community-driven decentralized gaming platform where users can align entertainment and money-making. It is a virtual world where players can be able to build, own and monetize their gaming experience on the Ethereum blockchain. Users can create, distribute and monetize in-world goods and game experiences using the Ethereum-based metaverse and gaming experience platform. It aims to disrupt the existing metaverse/gaming industry in which platforms own and manage user-generated content, limiting the rights of gamers and artists.
The Sandbox (SAND) comes with Game Maker, which allows users to create and test their 3D games within the Sandbox metaverse. As a straightforward program, it does not necessitate coding knowledge, and users will be able to organize and design various elements and objects in the LAND environment, including NFTs created with VoxEdit. As a complete isolated testing environment, this platform enables users to run programs or open files without affecting the application, system, or platform they run. This protocol is used by developers and cybersecurity professionals to test potentially malicious software and run new programming code.
The Sandbox (SAND) comes with its NFT marketplace allowing users to upload, publish and sell NFT creations made with VoxEdit. Creations are uploaded into an IPFS network to provide decentralized storage and then registered onto the blockchain to provide ownership. Once done, creations will automatically become ASSETS. They can be sold by making an initial offer on a marketplace where potential buyers can purchase them.
Final Verdict
Big Eyes Coin (BIG) could outcast all other cryptocurrencies. As a result, this new cryptocurrency could be an excellent alternative if you’re looking for a well-established meme coin that has proven itself in the crypto market. Big Eyes Coin (BIG) has already raised $1 million before launch and aims to go for $50 million in the future. Axie Infinity (AXS) is prone to overvaluation and has an initially high cost of starting the game. As a P2E game, the price has humped almost 100%, which can cause scalability issues. Sandbox (SAND) has recently gained attention from gamers and developers. It will take time to gain value and make decent profits.
Big Eyes Coin (BIG) is targeting the meme market and looks like the main competitor to other cryptocurrencies like Dogecoin (DOGE) and Shiba Inu (SHIB). It will allow users to stay entertained while earning money. Click the link below to learn more and be a part of this community.
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3 Ways to Profit in Bear Markets
The majority views bear markets as unfavorable; however, to some, it’s treated as just another day in the market.
Although you’ve more than likely heard the stories about companies losing sizeable amounts of money during bear markets, you’ve probably also heard of those handfuls of investors who have amassed wealth during the same period.
So how do they do it? How is it possible that some profit during market bear markets? Here are three ways.
Buy The Dips…
And sell the rips!
In a bull market, even during parabolic moves, no asset moves directly up without experiencing resistance or retracement.
In a bear market, the reverse is true. If an asset is trading at $100 and is expected to visit the $50 price range at the depths of the bear market, it usually doesn’t go directly from $100 to $50.
Instead, it may go from $100 to $75 and experience a slight bounce back up, or “relief rally,” before eventually heading back down past $75 and eventually to the target of $50.
The goal is to buy the dip to $75 and sell on the way up (the rips) with the relief rally. The bounce-up is referred to as “the rip” as usual during these times, market volatility is high, and movements within the market are usually swift. Traders have turned to crypto auto trading solutions such as bots to combat the whipsaw-like price movement.
This is perhaps the most common practice exercised by traders during bear markets. Many rinse and repeat this process throughout the market downtrend until a trend reversal is confirmed.
Slow and Steady
Many platforms make it easy to stake and earn interest off stablecoins which can be a great way to both scratch that trading itch and safely earn during a red market.
In fact, savvy investors in this space regularly incorporate the use of stablecoins into their trading strategy, especially during bear markets.
It can be a profitable way to increase your holdings in the coin of your choice if implemented effectively.
For instance, upon upswings, traders may swap their crypto holdings into a stable coin while they wait for a retrace and stake it in the meantime, as it could be hours, days, or even weeks before either re-testing lows or creating new lows.
Arbitrage
There are thousands of cryptocurrency exchanges (along with many DEX’s or decentralized exchanges), and not all offer the same crypto at the same prices.
For instance, if a crypto is listed on “Exchange A” for $1, but “Exchange B” has it listed for $1.05, a trader would purchase it from “Exchange A” for $1 and instantly sell it on “Exchange B” for $1.05, or a quick 5% profit.
There are traders whose entire strategy is based on arbitrage trading.
Of course, you have to be mindful of volatility, especially during a bear market. However, if you combine this method with buying on the dip approach, one could potentially maximize their profit potential.
Taking Action
There are many ways to profit during a bear market, but it is vital to keep your eyes on the charts, “listening” to the data rather than the chatter of the markets.
Remember, the goal is to take “calculated” action; it’s a balance of not being scared to take action while not being too active or over-trading.
Each trader has their own strategy, and not one fits all, so starting by testing the ones above is a way to ensure that you will eventually find the best way for you to profit in a bear market.
Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company.