Updated: Jul 09, 2022 18:44 IST
New Delhi [India], July 9 (ANI/ATK): The bear market is in and many cryptocurrency projects are down by as much as 80 per cent. This is not unique to crypto and other markets such as stocks and bonds are also feeling the pinch. The bear market presents buyers with an opportunity to pick up projects at a discounted price.
Furthermore, traders can capitalise on these bear market conditions to properly assess their portfolio to determine what needs to be exited. Many projects may never reach their previous price points because they were not built on solid fundamentals and were fueled by hype only. On the other hand, there are good projects which are trading at a discount for traders willing to buy the dip.
Traders should always be on the lookout for hidden gems that may not be so obvious to the market as these are where the best returns come from. The three cryptocurrency tokens one should be watching in this bear market are Kava (KAVA), Kadena (KDA) and RoboApe (RBA). To learn more about these projects, here is a brief breakdown of the three tokens.
Kava (KAVA) is a high-speed layer one blockchain with the interoperability of Cosmos and the developer ecosystem of Ethereum. The project uses co-chain architecture optimised for developers. The Kava Network is able to run EVM smart contracts using the Ethereum co-chain while its super-fast tender mint consensus mechanism is powered by its Cosmos c0-chain and the IBC (Inter Blockchain Communication Protocol). In addition, it uses a translator module to enable both co-chains to function without interfering with each other.
The Kava Network successfully brings two different blockchains to work seamlessly as a single unit. The KAVA token acts as the utility and governance token of the network. In addition, holders can stake KAVA to earn as high as 37 per cent of all KAVA emissions as a reward for securing the network. Stakers are also afforded voting rights which allow them to decide the future of the Kava platform.
Kadena (KDA) is a PoW (Proof of Work) blockchain which merges the Bitcoin (BTC) consensus mechanism with DAG (Directed Acyclic Graph) principles. This enables Kadena to offer a scalable version of Bitcoin (BTC). The project claims to provide the security of Bitcoin with more improved throughput. It uses a multi-chain approach to spur mass adoption and accommodate as many blockchains as possible. With its industrial scalability, Kadena would support global financial systems and power payments worldwide.
Currently, the project has scaled its network to 20 blockchains and hopes to increase this number as time passes. With the addition of the Kadena private Kuro layer 2 blockchains, this throughput supports 8000 transactions per second across its 500 network nodes. Kadena is poised to create enormous value for traders once the bear market sentiment wanes.
RoboApe (RBA) is a community token project that aims to educate and inform new crypto entrants. Using its RBA token, it would fund and host charity games for various causes which would be backed by its community DAO. In addition, it would fund and invest in the education of crypto newbies through RoboApe Academy. Furthermore, it would organise and host charity events and games where the proceeds would be donated to select charity organisations.
RoboApe will also create merchandise to create a sense of belonging for its community. The RBA token will be the transactional token of this project and its holders would be able to swap, buy and sell the token. DEFI transactions would be powered by RoboApe finance where users would be able to take full advantage of the RoboApe (RBA) token. Join the presale today by visiting the official links below.
Read more: Ultimate Guide to RoboApe – New Cryptocurrency Aiming to Have Financial Future
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