The crypto bear market is in full gear, and crypto users feel the effect. The current economic challenges are ravaging all financial markets, including forex, options, bonds, and the stock market. The crypto industry is used to market cycles, and as it matures, we will witness more of these boom-and-bust cycles.
The important thing to note is that there is an opportunity for crypto users to add value to their portfolios by purchasing solid crypto projects during this period. With the 60-70% price slashes witnessed by crypto projects on the market, solid crypto tokens are trading below their value. These tokens are backed by good projects with strong fundamentals and use cases.
Thorough research is required before you purchase any crypto tokens. The crypto market is in a state of uncertainty, and prices are volatile. Research would ensure that the project tokens you purchase have good future prospects and would be a value add to your portfolio. Uniswap (UNI), Fantom (FTM), and Keninah Concord (KEN) are three crypto tokens for the bear market. Investors should look into these tokens as they signal strong future potential. Here is more on these three crypto projects.
Uniswap (UNI)
Uniswap (UNI) is a DEX that allows users to trade ERC-20 tokens. It uses an Automated Market Maker model where users conduct token swaps against liquidity pools. ERC-20 tokens are on the Ethereum network; therefore, only tokens on the Ethereum network are supported by Uniswap.
Uniswap was launched in 2018 by Hayden Adams, and in 2020 it created the UNI governance tokens. Liquidity providers fund the liquidity pools on Uniswap, and these users are rewarded with trading fees from the pool’s usage. The fees liquidity providers receive depend on the number of tokens contributed.
UNI token holders become members of the Uniswap DAO, which has over 1.6 billion in its treasury. Members of the DAO have the right to take part in votes regarding changes to the protocol. The Uniswap DAO currently has over 300 thousand members, and they decide how the funds in the treasury are allocated.
Fantom (FTM)
Fantom (FTM) is a Directed Acyclic Graph (DAG) smart contract blockchain. It uses a unique consensus algorithm (Lachesis) to provide a DEFI-compatible platform for developers.
The Fantom blockchain will offer users a faster network with quick settlement times (less than two seconds), which is well suited for DEFI. Furthermore, the Fantom blockchain supports the building of dApps for various purposes. The Fantom blockchain was created in 2018, and the Mainnet was launched in 2019.
The Fantom blockchain is primed as the next destination for DEFI due to its consensus algorithm and settlement times. It will provide a cheap, fast, and developer-friendly alternative to existing layer 1 blockchains.
Fantom positions itself as a DEFI first blockchain in a bid to attract more developers to its network. The FTM token is the utility token of the blockchain. FTM is used for various functions, including staking, settlement, governance, and network fees.
Keninah Concord (KEN)
Keninah Concord (KEN) is a crypto platform for sending and receiving financial aid in warring areas. Traditional finance institutions are nonexistent during war, which is the main basis for creating the Keninah Concord network. Keninah Concord transparently allows donors to send money to receivers using its distributed ledger technology.
The network solves donations issues such as accountability, transparency, and speed. Furthermore, Keninah Concord will connect donors and recipients in a safe environment where they can connect. The KEN token will be used as the medium of exchange on the network and will facilitate transactions.
Join the ongoing pre-sale and take advantage of the numerous bonuses available. Bonuses can stack, and there are so many ways to get an extra KEN token. For example, you get a 9% bonus if you purchase KEN tokens in the first stage, a 7% bonus for the second stage, and a 5% bonus for the last stage of the pre-sale. Inviting your friend to the referral scheme can also earn some bonuses. Buy KEN today!
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