The crypto crash of 2022 has been horrendous, it hasn’t been a great time to be purchasing in cryptocurrencies. You’d be hard placed to think of a cryptocurrency that’s pumped this year. If we look at Q1 of 2022, we’d find a few new cryptocurrencies that launched delivering an impressive run. Putting this momentary spurt aside, the bear market rally has been tough on most cryptocurrency assets plunging many southwards.
Terra-Luna is the biggest loser from this bear market rally, as the network tanked from a price of over $100 to $0 and some insignificant decimal points, turning the asset into dust. The Luna crypto crash has further sent the market into a frenzy; fear and uncertainty are at new highs as consumer confidence dwindles. It’s risky to buy any dip as the market signals that it hasn’t bottomed out.
However, it is important to note that this is for a while, and the market would resume some healthy formation after this spiral of downtrends. This article covers cryptocurrencies like Solana(SOL), ApeCoin(APE), and a new cryptocurrency, Mehracki Token (MKI), that deserves your confidence. Solana, for instance, is down as much as 90% from its all-time high. ApeCoin is also devastatingly low. Mehracki Token, on the other hand, is yet to launch but promises some impressive potential.
The downtrend is not permanent, so it is pertinent to consider why you should not lose hope in these cryptocurrencies.
Solana (SOL) is a fourth-generation blockchain and cryptocurrency that uses an open infrastructure to increase scalability. The network employs a novel and innovative technologies to provide users with unrivaled transaction speeds and enterprise-level security. The network has consequently grown significantly since its inception in 2017.
The Solana blockchain was coined as an “Ethereum killer” alongside several other blockchain networks created as alternatives to Ethereum. Solana looked promising at the time but hasn’t been able to catch up to Ethereum except for NFTs. Solana NFTs are trailing right behind Ethereum NFTs doing millions of dollars in transactions daily.
SOL has been seriously affected by the bear market rally since the total market value started dropping from its all-time high of $3 trillion in late 2021. SOL reached an all-time high of $259 in November 2021 but trades at the $30 range as of June 20, 2022.
The Ethereum network underpins the ApeCoin (APE) ERC-20 token. It serves as a governance and utility token for the ecosystem and communities of the Bored Ape Yacht Club. This coin, which functions as a decentralized protocol panel, contributes to the infrastructure of the APE community. The community has garnered enough attention to generate a copious amount of excitement when the airdrop finally arrives.
The ApeCoin community is in charge of its own development and management. A vote on commodity administrative issues is critical for the DAO of any decentralized organization.
Furthermore, Yuga Labs develops all new products and services using APE tokens as the primary currency. Yuga Labs owns Bored Ape Yacht Club and other associated collections, including separate collections such as Meebits and CryptoPunks.
Mehracki Token is a new cryptocurrency launching later this year with encouraging prospects. The new project is a memecoin that fits perfectly into the situation of the cryptocurrency market and can offer some comic relief to crypto enthusiasts.
Memecoins can not be underestimated even in a bear market rally. Mehracki Token(MKI) is a memecoin hoping to help its users create an ecosystem that rewards token holders. It is specifically a community-governed ecosystem that allows holders to dictate consensus and create proposals on the future of the network.
It wouldn’t be advised to miss the presale of this promising project, so join the presale here now.