The current selloff impacting the overall crypto market has everyone going bananas. While panic is understandable, it can never be a good reaction to such a situation, as it can only lead to emotion-based and irrational decisions.
Instead, take a deep breath, look at the bigger picture, and look at which cryptocurrencies could become big once these turbulences are behind us.
We will cover three cryptocurrencies that seem to be attractively priced following the recent selloff. The last one, Quitriam Finance (QTM), is presently completing its presale. As markets have not stabilised yet and could fall further, it is crucial to remain cautious and initiate any position progressively by DCA-ing in your desired position.
Binance Coin (BNB) is the currency of the Binance ecosystem and is traded under the BNB ticker.
Binance has evolved to become the world's most popular cryptocurrency exchange, surpassing even Coinbase, Kraken, and FTX, in terms of daily trading volume. BNB soared upwards of 1,300% in 2021, outperforming market leaders such as Bitcoin (BTC) and Ethereum (ETH).
Following last week’s selloff resulting from the explosion of Terra (LUNA), Binance Coin maintained its place in the top 5 largest cryptocurrencies, boasting a market cap of over $50 billion.
More than a simple cryptocurrency exchange, Binance developed one of the most complete, accessible, and well-rounded platforms in the crypto space today.
Indeed, Binance developed not one, but two proprietary networks, known as Binance Chain and Binance Smart Chain (now known as BNB Chain). BNB Chain is Ethereum Virtual Machine (EVM) compatible and able to process over 150 transactions per second (TPS) for only a couple of cents.
This made Binance and its network a very competitive alternative to Ethereum for investors, as the latter has been experiencing increasing congestion, rising gas fees, and slower transactions. As such, Binance has joined the “Ethereum killers'' club, which notably includes the likes of Cardano (ADA), Solana (SOL), Polkadot (DOT), Avalanche (AVAX), and others.
Furthermore, Binance uses a fifth of its profits every trimester to repurchase BNB on the market and burn them. This buyback-and-burn mechanism reduces the circulating supply of BNB coins over time, making them scarcer and therefore more valuable as a result.
Binance Coin is a leading cryptocurrency that has already proved its solidity and continues to impress by the structure of its underlying ecosystem. The recent selloff and drop in BNB’s price could be a great opportunity to invest at a discount!
Maker (MKR) is one of the earliest initiatives within the decentralised finance (DeFi) space and has since grown into one of the leading projects in that field.
This project’s renown comes mostly from the fact that it is the creator of Dai (DAI), the very first decentralised US-dollar-pegged stablecoin in existence.
Indeed, Dai has become a massively popular stablecoin and an alternative to traditional stablecoins such as Tether (USDT) or Binance USD (BUSD), which are overseen and controlled by a central entity.
Conversely, DAI is controlled by its community and allows DeFi investors to have access to a DeFi-native, easily accessible stablecoin. DAI now boasts a market cap of over $6 billion, making it a top 20 cryptocurrency.
As DAI’s creator, Maker directly benefited from its brainchild’s popularity. Its native ERC-20 token, MKR, spiked to just above $6,000 apiece back in May 2021.
MKR has since lost some steam, progressively going back to around $1,600 today, a high price explainable by MKR’s limited total supply, capped at 1,000,000 tokens.
MKR is a governance token, meaning that it gives its holders power to express themselves, vote, and submit proposals regarding the future developments of DAI and Maker as a whole within MakerDAO.
As a leading DeFi project with a proven track record, MKR is an incontestable blue-chip cryptocurrency. With the crash of Terra USD (UST) last week, investors have been massively flocking to alternative DeFi stablecoins, DAI chief amongst them.
Current turmoils therefore appear as a boon for Maker, and it is expectable that the project will experience strong tailwinds in the near future.
Another project you likely have never heard of is Quitriam Finance (QTM), now holding its presale and preparing for its formal market launch in the coming weeks.
Its native token, QTM, is presently priced at $0.000023, having already increased a bit from its early initial price of $0.000016.
Just like MKR, QTM will be a governance token that shall provide its holders with voting rights and influence over the important decisions that will shape the future of the project.
Quitriam Finance also plans on offering staking solutions in order to generate passive income. Notably, the Quitriam ecosystem will feature specific liquidity pools where users will be able to lock their QTM tokens which will then be used in order to secure the ecosystem. As a reward for contributing to this task, stakers will then be rewarded with additional QTM tokens.
Users will also be able to create NFTs and other yield-bearing ecosystem items by using the Quitriam ecosystem’s main resource, mithril. Mithril can be extracted from certain so-called “mines” in the Quitriam ecosystem.
These items and QTM tokens can then be exchanged for cryptocurrencies or stablecoins by using Quitriam Finance’s native decentralised exchange (DEX), Quitriam Swap. Based on the whitepaper, this DEX will be multichain and enable up to 50,000 TPS, an ambitious goal!
Learn more about Quitriam Finance
Website: https://quitriam.io/
Presale: http://presale.quitriam.io/
Instagram: https://www.instagram.com/quitriam_finance
Twitter: https://twitter.com/quitriamfinance
Telegram: https://t.me/QUITRIAMFINANCEOFFICIAL
Disclaimer: (This article is sponsored and includes some commercial links)
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