The cryptocurrency world is currently in the middle of a bear market, and you will be hard-pressed to find a cryptocurrency that has not taken a hit in this period. Most of the 20,000 cryptocurrencies that currently flood the market have been subjected to massive dips that have seen prices drop by nearly 100% for some coins.
Even some of the most sought-after projects in the world are not exempt from the red candles that have been left in the wake of the recent price crash across the market.
Shiba Inu: why investors are selling off for presale star Degrain
Shiba Inu (SHIBA), for all its success in the past, has been riddled with problems as of late, leaving investors scampering for better options. It has fallen well below its all-time high market values. Once famed for being that project that gave its investors 1,000x returns on their investments, Shiba Inu (SHIBA) has now fallen far from its graces, losing investors millions of dollars in the process. Shiba Inu (SHIBA) could potentially bounce back, however, that is yet to be seen and there are likely better investment opportunities out there.
Litecoin: The Silver to Bitcoin’s Gold
At the peak of its value, Litecoin was valued at about $360. Today, Litecoin is only marginally above $50, even dipping as low as $40 two weeks ago.
The drop in its value alongside massive investor pull-outs have inevitably led to a shrink in its daily trading volume. Over the last weeks, Litecoin (LTC) has had a daily trading volume of $600 million which represents a substantial decrease compared to previous months. A return to its all time high seems increasingly unlikely, we could see it reach $70 if market conditions improve.
Degrain: Predicted to be the top investment in 2022
A general principle that most crypto investors use in deciding which projects to invest in, is looking out for projects with utility. These are projects that do not exist simply as cryptocurrencies, but also have underlying products that serve a purpose. The latest of this class of projects is Degrain. Experts believe Degrain might be the next crypto investment with a 1,000x ROI, and for good reason.
It intends to be the first and only NFT platform with a capacity for cross-chain interoperability, as well as being the first and only NFT protocol to bring the utilities that NFTs can offer to the real world.
Analysts all around the crypto space believe the concepts behind Degrain could lead it to being one of the biggest breakthroughs for the crypto and NFT world, and have labeled it ‘one to watch’. Its presale launched only on 7th of July and its current price of $0.01 makes it a must-buy in our opinion.
