With the unpegging of Terra USD (UST) last week and the following crash of LUNA, Terra’s native cryptocurrency, the crypto market has been going from bad to worse in a matter of days.
With the current ultra-high volatility, your best move might just be to stick to existing leaders and sit tight.
It’s nothing new, when things go south in the crypto market or financial markets in general, investors immediately seek refuge in safe havens with solid fundamental value.
Such safe havens can take the form of precious metals such as gold or platinum, rare materials such as diamonds, other rare mineral resources, and hard assets such as real estate. In the case of cryptocurrencies, safe havens appear to be blue-chip cryptocurrencies such as Bitcoin (BTC) or Ethereum (ETH).
Ethereum (ETH), still undefeated
Let’s focus on the latter: Ethereum (ETH) has now been the second-largest cryptocurrency by market cap for the past few years. It commands a 20% dominance of the entire crypto market and as such, remains an undefeated titan which is favoured by investors in times of crisis.
Besides, despite remaining an undisputed leader in the crypto market, Ethereum continues to improve its ecosystem based on its community’s feedback. Following criticisms of rising gas fees and latency, Ethereum has been working towards the release of its 2.0 version.
This major and much-awaited upgrade will transition the Ethereum network from its current Proof-of-Work (PoW) validation method to Proof-of-Stake (PoS), making it significantly faster, cheaper, and more energy-efficient to operate.
An exact release date for Ethereum 2.0 is yet to be announced, however, it is projected to take place towards the end of 2022. Once launched, this upgrade will act as a major catalyst for the Ethereum network, likely propelling the price of ETH to new highs.
In that context and given the present volatility, ETH remains one of the finest cryptocurrencies to hold in order to calmly weather the storm.
Cardano (ADA), the Ethereum killer
Cardano (ADA) is known as a "third-generation" blockchain, which officially launched in 2017 and adopted a resolutely scientific approach to cryptocurrencies. Its name is inspired by Gerolamo Cardano, a leading Italian polymath from the 16th century. Cardano’s native currency, ADA, was named after Ada Lovelace, popularly recognised as the world’s first computer programmer.
ADA is now a premier blue-chip cryptocurrency firmly installed among the top ten most valuable cryptocurrencies in the world. The total supply of ADA is limited to 45 billion tokens, making it an appealing investment for those looking to hedge against inflation.
Ethereum envisions it, Cardano did it already: the Cardano network already operates on a Proof of Stake mechanism, making it much faster than the combined Bitcoin and Ethereum networks currently. As of now, Cardano can process around 250 transactions per second (TPS) on its network.
Even more impressive, Cardano is currently working on a revolutionary Layer 2 (L2) solution, named Hydra, that could allegedly process an astonishing 2,000,000 TPS! If successful, this initiative would entirely reshape the current status quo in the crypto market and propel Cardano as the incontestable industry leader.
ADA is currently trading at $0.57, over 50% down from a month and a half ago. As a result, the current ultra-volatile market could be a fantastic opportunity to initiate a position in this highly promising project.
Quitriam Finance (QTM), new player in the sandbox
Quitriam Finance (QTM) is no blue-chip, but it’s an interesting project currently holding a presale for its native token, QTM. QTM is now trading at $0.000023, a 43% increase from its initial price of $0.000016.
Quitriam Finance aims to develop an ecosystem that will feature mines where investors will be able to mine for mithril ore. This ore can then be melted and turned into mithril bars, which can then be smithed into different items, such as yield-generating NFTs and armors which generate returns for their holders.
On top of that, Quitriam Finance aims at creating its own decentralised exchange (DEX), Quitriam Swap, which seeks to solve ongoing issues with existing DEXs. Just like any DEX, Quitriam Swap will allow peer-to-peer transactions and connect individuals directly and without third-party interference.
The Quitriam Finance ecosystem will be a multichain one, meaning that it will be present on multiple blockchains, in order to systematically provide investors with the best trading conditions at any given time.
In its whitepaper, the Quitriam team asserts that its ecosystem will be able to process up to 50,000 TPS. If that is true, it would be a significant feat for such a recent project - let’s see if they deliver on that!
Presales are undoubtedly risky in nature, due to the fact that you invest in emerging projects which are yet to prove their worth and have not released a working product yet. As such, presales are primarily addressed to seasoned crypto investors.
On the other hand, due to the higher amount of risk assumed by a presale investor, potential returns increase in parallel. Successful presales therefore allow investors to generate outsized returns, much greater than with established projects.
But finding the successful presale in the haystack of mid-air meltdowns and other rug pulls requires experience, hence the need for thorough due diligence prior to any investment.
Learn more about Quitriam Finance
Website: https://quitriam.io/
Presale: http://presale.quitriam.io/
Instagram: https://www.instagram.com/quitriam_finance
Twitter: https://twitter.com/quitriamfinance
Telegram: https://t.me/QUITRIAMFINANCEOFFICIAL