With how volatile the crypto market is naturally and how often different trends start, it is to be expected that as new cryptos gain prominence, others fall into obscurity. While Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) will always retain their positions as the top 3 ranked crypto by market cap due to being the biggest tokens in each of their specific niches, the same can’t be said for the rest of top cryptos on the market. Things can change in a matter of days based on a single event, and crypto can lose billions in market cap. In the same way, projects that weren’t on the radar at all can suddenly explode and climb high in value. Examples of each of these would be the 2022 collapse of Tera (UST) last summer and the 2021 blow-up of Shiba Inu (SHIB).
With this topic in mind, here are three projects currently experiencing this very cycle. One is coming to an end, and one is rising higher, and one with the potential to become the next big thing.
The End of Binance’s Stablecoin, Rise Of Tether’s
The biggest cryptocurrency exchange in the world right now is Binance (BUSD), and it technically ranks twice in the top 10 cryptocurrencies by market cap, with BNB and BUSD. But this may be on the verge of changing as BUSD falls from the 7th rank to the 10th. This is the result of the US regulator’s move to order Paxos, Binance’s partner, to cease minting the stablecoin immediately. The news of this saw BUSD holders quickly trading it for the stronger coin, Tether (USDT). Tether was already doing phenomenally, to begin with, ranking three by market cap just below Bitcoin (BTC) and Ethereum (ETH), but this has seen its value skyrocket even further.
Binance’s stablecoin initially fell by more than 10% while Tether surged by 50%, which is an incredible amount in such a short time. Binance’s CEO CZ moved fast with the damage control, having the platform immediately move away from the usage of the coin, migrating over to Tether much like investors have. At the time, this move most likely saved BUSD from dropping either further and officially leaving the top 10 entirely, but this is expected to be shortlived as the coins marker cap drops from $16 billion to $10 billion. A $6 billion loss in such a short period is incredibly foreboding, and to call the outlook of investors bearish would be an understatement. The move of Coinbase, another big crypto exchange, officially delisting the stablecoin was likely the final nail in the coffin, ensuring its end.
Dogetti Establishes A Place To Belong
Just as in real life, when something dies, something of equal value is born. Dogetti (DETI) is still in presale, but it has the potential to become a high-ranking crypto once it launches officially. Destined to be a game changer if it succeeds at its goal, Dogetti aims to become a coin owned and controlled by the community. Though meme coins are highly profitable and accessible, they have been criticized for lacking any real functionality or substance, but this is where Dogetti stands out. By doubling as a reflection token, every time a transaction is made, the coin redistributes 6% of its supply back into the project. 2% is held in a charity wallet, 2% is split between liquidy and burn wallets, and 2% is given back to token holders. Establishing longevity and rewarding holders just for holding are the first steps towards their plan of shifting wealth and creating a community in that buyers can believe they genuinely share a purpose. A project that wants to affect the DeFi ecosystem directly could make a historic change if successful, so now is the best time to buy if you would like to be a part of history. For a limited time, using the code WISEGUY25 will give you 25% extra tokens during your purchase. Stage 1 of the presale is quickly coming to an end, and once it does, the price increases – so don’t miss out.
For More Information On Dogetti (DETI):
Presale: https://dogetti.io/how-to-buy
Website: https://dogetti.io/
Telegram: https://t.me/Dogetti
Twitter: https://twitter.com/_Dogetti_
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