2022 has currently been off to a shaky start, with warnings of further drops and estimations of the next all-time high.
Regardless of the volatility, New York to Beijing’s financial regulators has started to take the cryptocurrency seriously or take the risk of being left behind. The crypto market is already worth more than $3 trillion. It has been a reasonably good week for the market, a relief from the recent reds.
As of Monday morning, Bitcoin (BTC) was trading at about $38,000, and Ethereum (ETH) was trading at about $2,600. Here are a few lesser-known cryptocurrencies to watch, including the much anticipated FIREPIN Token (FRPN), which is expected to be a valuable asset for the future of the metaverse.
Layer-1
A lot of people like Cardano (ADA) because it has a unique process and technology. It has an approach that is based on academia. Before putting out its rules, the non-profit that runs Cardano (ADA) put together a team of scientists and other academics from some of the best universities in the world to look over their code.
Money Making
As a third-generation cryptocurrency, Cardano (ADA) also wants to fix the problems that have been growing with the first-generation Bitcoin (BTC) and the second-generation Ethereum (ETH). They want to move away from the proof of work model, which is just one of many problems with these earlier coins.
Technology
It has been said that it will soon be able to process a million transactions per second because of its speed and new technology. However, with these fast speeds comes the issue of centralisation.
Thus, Cardano (ADA) is not only one of the most technologically advanced cryptocurrencies out there, but it is also now the seventh-largest cryptocurrency in the world.
Blockchain by Blockchain
Avalanche (AVAX) is a tool for making your own blockchain networks and decentralised apps (dApps).
It was made by Ava Labs, and it’s one of many projects, like ADA, that wants to overtake Ethereum (ETH) as the most popular smart contract platform in the blockchain ecosystem.At 4,500 transactions per second, Avalanche also claims to be able to grow bigger and more quickly than Ethereum does. It has built its own decentralised finance (DeFi) ecosystem and a number of Ethereum-based DeFi projects have been able to work with it.
At the start of last year, AVAX was trading at only around $3. By late November, it had reached an all-time high of more than around $145, overtaking Dogecoin (DOGE) and becoming one of the world’s top 10 cryptocurrencies.
If you buy it now, it costs about $70 and has a market value of more than $18 billion.
Metaverse
FRPN, rather than rebuild the well-established networks, it wants to be a project that helps shape, build and connect this next generation of the virtual world. It’s just started its pre-sale, which some people consider the best time to buy.
It is a metaverse based decentralised autonomous organisation (DAO) that plans on using the FRPN tokens as leverage and to store wealth for future metaverse projects.
The website states that is a plan to use FIREPIN (FRPN) as a reserve currency that will be based on the Binance Smart Chain (BSC).
If prices are very volatile, FIREPIN (FRPN) plans to use the Algorithmic Reserve Currency method, which will be helped by other decentralised assets, to keep prices from going up or down too much. This method will help keep prices stable.
People in the metaverse have a DAO that is focused on long-term and efficient use of its assets.
With FIREPIN’s platform, users will be able to buy Non-Fungible Tokens (NFTs), 3D, and Metaverse VR games with the currency they’ve earned from playing them. You’ll also be able to invest in teams and groups that have a long-term plan for Play-to-Earn Metaverse games, so you can be actively involved in their development.
Join Presale: https://presale.firepin.io/login
Website: https://firepin.io/
Twitter: https://twitter.com/FIREPIN_io
Telegram: https://t.me/FIREPINOFFICIAL
Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
