Posts

In a Crypto Crash, Coins with Real Use Cases and Loyal Users will Survive

avatar of @cryptictruth
25
@cryptictruth
·
·
0 views
·
3 min read

Bull and bear markets will come and go for cryptocurrencies, just like any market, but the key to knowing which coins will weather a bear market comes down to knowing what they're used for and what kind of support they have. We are still in the very early days of crypto and many if not most of the coins we have today will not exist. That's the cold hard truth, but it does not mean you can't make money now and find the few winners among the large playing field.

Bitcoin (BTC), Ether (ETH) and altcoins were caught in a downward move along with other assets, as markets reacted to the emergence of a new Covid-19 variant. This move made me think about the current crypto cycle and stated the rebalancing debate. I'm not making any knee jerk movements as I want to see how traditional markets start the week.

However, reflecting on this year it has been a year of mainstream adoption as well known coins like bitcoin and ether are common terms in everyday vocabulary. No longer are the days where someone has not at least heard the names. We also are seeing alts (ADA, SOL, ALGO) becoming well known and don't forget about the meme coins (DOGE, SHIB). More people are joining our ranks, but with US interest rates rising, inflation/supply chain issues and the perception that the economy may be at risk from another wave of Covid-19, the outlook for 2022 is not quite as rosy at the moment...

From my perspective, the projects that you see surviving are the ones that have huge, really loyal followings and the ones that have really important use cases. At this point, I can't deny momentum investing is powerful as proven by DOGE and SHIB. Then we have projects looking rival to Eth which will continue to draw support as the landscape keep evolving.

With that evolution we have projects like the metaverse, an immersive digital world where people game, own plots of virtual land or racehorses and dress their avatars with designer virtual apparel which will flourish as technology becomes even a bigger part of our everyday lives.

Decentraland's mana token shot up and Axie Infinity, whose axs token has tripled in the space of two months. These types of gains are amazing, but hype driven moves often crash the hardest, but with these projects there's a lot of real adoption, or the potential for a lot of real adoption so they will fair better.

This brings me to HIVE and my case for why we will survive and continue to flourish in the worst bear market. We have huge passionate, and really loyal following. Not only that, but we have really important and functional use cases! Just look at @splinterlands Hive-Engine #leofinance #hivepunks and the many other budding projects in the pipeline. In fact I think we have more development, passion and commitment in the crypto space. The issue is we just don';t have the visibility or access (need to get listed on Coinbase), but we are now getting noticed!

Hive pushed over $3 making the chain worth over 1 billion USD. This pushed us up the market cap ranking bringing a lot of new attention.

We this last move it has me more confident in our blockchain!

Posted Using LeoFinance Beta