The crypto market is facing another brutal period of recession, and all the prominent crypto coins are consistently losing their market value. Many individuals are afraid that there will be another cryptocurrency that falls just like Terra (LUNA). A month ago, Terra (LUNA) lost nearly 99.9% of its value, causing many token holders to lose out significantly. Even though we haven’t seen anything similar yet, many well-established cryptocurrencies lost more than 40% of their market value. In this article, we’ll suggest some cryptocurrencies that you should buy in this challenging time of market recession. The cryptocurrencies include CashFi (CFI), a brand-new entry into the crypto world, ICON (ICX), and GateToken (GT).
The New Generation of Liquid Staking – CashFi (CFI)
CashFi (CFI) is a next-generation decentralized platform with native ERC20 token CFI. It plans to build collaborations and connections by introducing users to diverse asset classes such as liquid staking and NFTs. It uses a unique fee-sharing system to give investors access to asset classes. Additionally, it revolutionises and empowers users of today’s DeFi landscape with an interoperable and decentralised network of platforms that provide access to digital assets. Due to the platform being familiar with staking options, the CashFi (CFI) program allows users to unleash liquidity and gain higher profits by staking CFI tokens.
It also offers a cross-chain CFI NFT marketplace and a hub dedicated to the smooth creation of NFTs across multiple chains at a low cost. In addition to this, CashFi (CFI) also provides a staking infrastructure that enhances the security of the world’s leading digital networks. Native token CFI offers a myriad of benefits to users. It strengthens the DeFi and NFT markets while supporting the ecosystem of networks such as liquid staking, CFI NFT, and synthetic fibers. Holders can also participate in governance by submitting proposals, and voting on network developments and changes to improve the ecosystem.
The Layer One Blockchain – ICON (ICX)
The ICON (ICX) aims to build a decentralized network using cryptocurrencies. Thus, it describes its goal as creating a “digital state” that can issue and control its form of value under a system of rules chosen by various agents. The design is inspired by the real world, where businesses, nonprofit institutions, and public institutions all use the same means of value but are different yet interoperable economic agents.
To put it simply, the idea is that computer applications can use ICON software as the infrastructure to create their currency and economy. Computers (nodes) running the software can choose to support the economy of the ICON ecosystem based on their interests. ICON Republic acts as a hub for its blockchain operations, managing the process of creating a new ICX cryptocurrency in each block. The ICX blockchain uses a delegated proof of stake consensus algorithm to determine which nodes can add new blocks to the blockchain. Other major cryptocurrencies like TRON and EOS use this same idea that enables the determination of blocks without any conflict (such as mining) and allows networks to reach consensus quicker.
GateToken (GT) is GateChain’s native cryptocurrency and a core asset of Gate.io. GateToken can be used to pay transaction fees for the GateChain service, and GT owners can vote for governance changes. In the early stages, 300 million tokens were distributed without presale of tokens. The sale took place in 2019 and people bought the GT through Gate.io. It was fully distributed and nobody bought it individually. GateToken holders receive discounts on spot trading, futures trading, and cryptocurrency lending. Its owners can participate in voting plans for the projects listed on Gate.io. One GT corresponds to one vote, and the GateChain platform rewards GTs for consensus node mining and PoS mining.
All the stated cryptocurrencies are equipped with viable usability features, which will make them a great investment option. Cryptocurrencies with usability features are a million times more likely to succeed than their counterparts.
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Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. CryptoMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.