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The crypto market has been thrown in the doldrums following an eventful last week: de-pegging of TerraUSD (UST), mid-flight explosion of Terra’s native cryptocurrency LUNA, temporary de-pegging of Tether (USDT) - the market does not seem to want to give us a break!
In those volatile circumstances, let’s look for some cryptocurrencies which we might be able to purchase at a discount. We will notably cover the now-famous Cardano (ADA), as well as two lesser-known cryptos, including Mushe (XMU), a mysterious new payment protocol currently in its presale…
Cardano (ADA)
Conceptualised in 2015 but going live only in 2017, Cardano (ADA) is the first cryptocurrency to adopt a steadfast scientific approach in its development.
Its name speaks for itself: Gerolamo Cardano was a renowned 16th-century Italian polymath, and its native cryptocurrency, ADA, was named after Ada Lovelace, who is widely regarded as a pioneer in the field of computer programming.
ADA has then climbed its way to the top 10 largest cryptocurrencies, boasting a market cap surpassing the $17 billion. Total supply of ADA coins is capped at 45 billion units, making it an interesting asset for anyone seeking a hedge against the current skyrocketing inflation.
Besides, the Cardano network resorts to the Proof-of-Stake (PoS) transaction validation method, making it much quicker, cheaper, and energy-efficient than market leaders Bitcoin (BTC) and Ethereum (ETH).
Indeed, the Cardano network is able to process a significant 250 transactions per second (TPS), much more than Bitcoin’s 5 TPS and Ethereum’s 15 TPS. As such, Cardano is part of the so-called “Ethereum killers" club, which comprises the likes of BNB Chain (BNB), Solana (SOL), Polkadot (DOT), Avalanche (AVAX), and others.
On top of that, Cardano is developing an industry-defining Layer 2 solution, dubbed Hydra, which could allegedly process a whopping 2,000,000 TPS. Were such a solution to be developed and fully-functioning, Cardano would undoubtedly shake the entire crypto landscape, propelling ADA to new highs.
ADA is currently over 50% down compared to 2 months ago - now could be a great time to add this fantastic project to your portfolio.
WAX (WAXP)
Launched in 2017, WAX (WAXP) is an interesting entertainment-focused project that has strangely been receiving much less spotlight than some of its flashier peers.
The WAX blockchain aims to facilitate and streamline transactions related to gaming, entertainment, collectibles, and other products that are popular amongst the crypto community. One of WAX's utmost priorities is to make these transactions easier for collectors and other enthusiasts, allowing them to easily exchange their favourite items with one another.
WAX already formed partnerships with major entertainment companies and brands such as Atari, Hasbro, AMC, Sony, Mattel, Street Fighter, and several others.
That success is reflected in the WAX blockchain’s metrics, publicly available on its website: 23 million network transactions since inception, and over 12 million active accounts, a figure which keeps growing rapidly.
Like Cardano, WAX resorts to a slight variant of the PoS consensus mechanism, known as Delegated PoS (DPoS), enhancing its network’s speed and cost-effectiveness.
Given the crypto community’s fascination for entertainment-related initiatives and WAX’s established yet overlooked status in the field, this project appears as an interesting long-term pick.
Mushe (XMU)
Using blockchain technology, Mushe (XMU) aims to create a complete ecosystem that would support both fiat and cryptocurrency payments.
Mushe further aims to enable near-instant transactions at ultra-low cost, allowing everyone to participate in its ecosystem and access basic financial services such as money transfers and banking at an affordable rate.
To accomplish that, Mushe is currently developing a line of native products, including an integrated crypto wallet surprisingly called Mushe Wallet, and a local decentralised exchange (DEX) called Mushe Swap.
These elements will be accessible through MusheVerse, a digital platform where users will be able to conduct their transactions in any (crypto)currency they wish anywhere in the world.
MusheVerse will also provide users with access to additional financial services from household finance management to personal banking, including more complex services such as investment planning.
Pre-sale of the Mushe’s native utility token, XMU, is taking place at this moment. XMU is now priced at around $0.032, and the Mushe expressed a target of $0.50 for its public exchange listing, expected for mid-July. Let’s see if they achieve this target!
Learn more about Mushe:
Website: https://www.mushe.world/
Presale: https://portal.mushe.world/sign-in
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