If you want an impression of how volatile the cryptocurrency market can be, you need to look at the last six months. In November 2021, the valuation of cryptocurrency (3 trillion dollars) and Bitcoin (68,000 dollars) was at an all-time high.
Experts were bullish and boldly predicted that both figures would increase further. However, just six months later, that couldn’t be further from the truth. The market cap of cryptocurrencies and the price of Bitcoin fell to their lowest point in years.
The record highs of winter 2021 are a far cry from the harsh reality of summer 2022. In a matter of days, the crypto crash has completely wiped out the gains the industry made last year. Where does the market stand now? We will assess its position by looking into different tokens.
Chainlink (LINK) is at number 24 in the rankings with a token price of 6.23 and a market cap of 6.2 billion dollars; both figures have decreased 8.25% from yesterday. In the same twenty-four-hour period, LINK tokens traded are 395 million, an increase of 12.7%.
LINK is a blockchain abstraction layer that supports universally linked smart contracts. Launched in 2017, Chainlink has a decentralized oracle network that enables blockchains to securely engage with external data feeds, payment methods, and more. The network is run by an extensive, open-source community of data providers, smart contract developers, security auditors, node operators, etc.
The USP of Chainlink (LINK) is that it was one of the first networks to support the integration of off-chain data with smart contracts. The combination has allowed LINK to partner with data providers like Huobi, Alpha Vantage, and Brave New Coin.
NEAR Protocol (NEAR)
One place below LINK is NEAR Protocol (NEAR), with a token price of 3.63 and a market cap of 3.6 billion dollars. Both the figures mentioned have fallen 11% in the last twenty-four hours. In the same duration, the volume of NEAR tokens traded is 331 million, a rise of 19%.
NEAR is a layer-one blockchain that functions as a community-run, cloud platform. NEAR removes shortcomings blockchain users face, such as lackluster transaction speed, poor throughput, and below-par interoperability.
Another benefit of using NEAR Protocol (NEAR) is that it’s the perfect project for dApps and is user-friendly. A great example is that NEAR uses human-readable account names, as opposed to cryptographic wallet addresses used by competing cryptocurrencies. In addition, NEAR also introduces a distinctive solution for scaling issues and boasts an independent consensus mechanism called “Doomslug.”
Privatixy Token (PXP)
Privatixy Token (PXP) is a new token that provides an open-source protocol with a variety of privacy-preserving options and focuses on decentralized technology usage and adoption. One of the main attributes of PXP is that it offers users access to alternatives to privacy-invading services. The token can be purchased through exchanges like DEX and CEX and staking.
PXP token holders also have governance rights. The Privatixy Protocol DAO will be implemented to allow users to have a say in matters related to PXP. Users can put forward proposals that will be studied, and they can vote for or against these recommendations. Examples of proposals include future developments on the platform, supplanting smart contracts that violate privacy preservation, utilization of accumulated funds in the treasury, and protocol parameters.
The volume of Chainlink (LINK) and NEAR Protocol (NEAR) tokens traded in the last day have risen sharply, a sign of hope despite the devastating crypto crash. The increase bodes well for Privatixy Token (PXP).
If you want to invest in PXP, the earlier you do it, the more you gain. For example, buying PXP tokens in stage 1 of presale will give you a 6% bonus. Stage 2 gives users a 4% bonus, and stage 3 has a 2% bonus. If you invest five hundred dollars, you’ll be eligible for an 8% bonus. If you can manage a thousand-dollar investment, you’ll receive a whopping 19% bonus!
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