2022 has been a downward spiral year for the cryptocurrency market. While most coins have pulled to levels not seen in years’ investors are increasingly searching for projects that will give better returns in 2023. BudBlockz is one project that continues to elicit strong interest, given its game-changing ambitions. In contrast, Chainlink and Ripple could remain under pressure.
Ripple Regulatory Headwinds
Following the recent selloff, the focus is increasingly shifting away from projects that have shed significant amounts of market value. Ripple is one of the projects that are down by more than 60% for the year, having felt the full brunt of investors shunning riskier bets.
Regulatory headwinds have been the biggest challenge that has affected Ripple sentiments in the market. While Ripple has the potential to revolutionize the mainstream financial sector, its inability to solve its stalemate with regulators in the US could affect its performance in 2023. Ripple has been under scrutiny for allegedly raising funds illegally through the sale of digital assets in an unregistered way.
On the other hand, Chainlink boasts of tremendous potential as an oracle chain that links blockchains to the outside world. Its ability to act as a middleware between smart contract platforms and external data sources has always been game-changing.
However, just like Ripple, it also remains under pressure; its native coin, LINK, has lost more than 70% market value. Moreover, the project faces stiff competition in its push to link smart contracts and external data sources for reliable and real-world information.
BudBlockz Solid Growth Prospects
BudBlockz, on the other hand, remains well-positioned to soar in 2023 amid its push to unite the cryptocurrency sector and the cannabis sector. It’s in the process of establishing an innovative ecosystem that will allow enthusiasts to buy, sell and invest in cannabis products and dispensaries worldwide.
The growth opportunities are tremendous, given that no platform currently allows people to buy cannabis products privately and in a decentralized manner. BudBlockz has established the world’s first decentralized cannabis ecommerce platform as it moves to tap into the massive market opportunity.
Its ecosystem is built on a decentralized technology that will ensure the privacy and security of people’s data and transactions in the market. Additionally, it plans to increase the accessibility and professionalize logistics in the cannabis sector while leveraging blockchain technology.
In addition, it plans to provide an opportunity for the community to participate in the growing market. Through its native $BLUNT token, it will provide a framework for people to own fractional stakes in cannabis farms, dispensaries, and manufacturing facilities. The legalization of cannabis worldwide is poised to open up the market; according to BudBlockz, it will also provide the opportunity to tap into a $200 billion market.
$BLUNT is the native token allowing people to do business on the BudBlockz ecosystem. It will also facilitate liquidity in BudSwap, the network’s decentralized finance platform that will enable peer-to-peer borrowing and lending.
BudBlockz is also pursuing opportunities around the multi-billion gaming industry through its play-to-earn gaming platform BudBlockz Arcade. The launch of a premier collection of non-fungible tokens, Ganja Guruz, is also expected to strengthen the $BLUNT token utility,
Bottom Line
BudBlockz, powered by its native token $BLUNT, has what it takes to give Chainlink and Ripple a run for their money in 2023. Its growing utility around cannabis products, NFTs, decentralized finance, and play-to-earn games offer a wide avenue for growth.
Learn more about BudBlockz (BLUNT) at the links below:
Official Website: https://budblockz.io/
Presale Registration:: https://app.budblockz.io/sign-up
BudBlockz Community Links: https://linktr.ee/budblockz
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All other major cryptos mentioned in this article are available to purchase from leading exchange eToro
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