Let us work with a hypothetical scenario: assume that you own an Asset, X. You save your hard-earned money and invest a hundred dollars in X, and you are content with your purchase. However, a few days later, the value of X decreases dramatically; it is now worth just thirty dollars (depreciation is immaterial in this instance).
How can an individual cope when their asset loses seventy percent of its value? Cryptocurrency users can answer that question because this has been their sentiment since the crypto crash of 2022.
The market capitalisation of all cryptocurrencies went from three trillion in November 2021 to under one trillion six months later. How is the market faring now? We will examine the current situation below.
BNB (BNB)
At number 5 in the rankings is BNB (BNB), which has a token price of 257 dollars and a market cap of 51.4 billion; both values have decreased by 4.3% in the last day. In the same 24-hour period, the volume of BNB tokens traded is 1.19 billion, an increase of 4.8%.
BNB launched in 2017 and became the biggest cryptocurrency exchange worldwide (according to daily trading volume). The team behind Binance is aiming to bring cryptocurrency exchanges to the forefront of financial activity worldwide.
In addition to featuring the largest exchange platform globally, Binance has an extensive ecosystem of functionalities. The attributes of BNB (BNB) include Binance Smart Chain, Binance Academy, Trust Wallet, Binance Chain, Research projects, etc.
All of the above implement blockchain technology to bring the latest innovations in finance to users worldwide, which is essentially BNB’s unique selling proposition. The makers of Binance are constantly making changes to the platform. The developments have manifested in the vast network that BNB offers users.
Cardano (ADA)
Like BNB, Cardano (ADA) is also in the top 10 (number 8) with a market cap of 21.7 billion dollars and a token price of 0.48; both values have fallen 1.9% in the last 24 hours. In the same time frame, the volume of ADA tokens traded on the market is 669 million, down 21%.
Cardano is a proof-of-stake blockchain platform; the team running the project claim that it is meant to enable changemakers, innovators, and visionaries to implement positive change, including increased transparency, security, and fairness.
Founded in 2017, Cardano (ADA) is named after two personalities from yesteryear. Cardano is inspired by Gerolamo Cardano, a 16th-century Italian polymath. ADA is derived from 19th-century mathematician Ada Lovelace, considered the first computer programmer ever.
Magniswap (MAGNI)
While these tokens have been around for years, Magniswap (MAGNI) is an emerging cryptocurrency. MAGNI is a community-based, decentralised platform that provides users with a value chain that promotes innovations and connects products in the MAGNI ecosystem.
Token holders can enjoy a variety of payment alternatives, staking options, yield farming, and swapping. Like Cardano (ADA), MAGNI utilises a proof-of-stake consensus network that enables quick and seamless transactions. The manner of conducting business on the platform is flexible and trustworthy. Magniswap caters to transaction-related issues with a streamlined and consistent process. MAGNI, the native token, combines a PoS consensus mechanism with blockchain technology.
Furthermore, another low-cost alternative that MAGNI offers is that users can transfer their tokens to other users anywhere in the world. All they need to do is sign up for MAGNI and create a wallet, which grants them access to conduct transactions. Magniswap (MAGNI) token holders can also avail decentralised finance (DeFi) solutions. Besides trading, users can enjoy staking, yield farming, and coin exchanges.
BNB (BNB) and Cardano (ADA) have fallen slightly because of the prevailing crypto crash. However, Magniswap (MAGNI) has several advantages which should incite cryptocurrency enthusiasts.
If they buy MAGNI tokens with BNB, they’ll receive a whopping 16% bonus. Buying in stage 1 of presale will give an 8% bonus, and stage 2 will give a 6% bonus. If you buy in stage 3, you’ll receive a 4% bonus while there’s a 2% bonus in stage 4.
Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.
