Crypto news today suggests that the world’s largest cryptocurrency by market cap, Bitcoin (BTC), is edging past the $20,000 milestone, a critical support level for the token. As the bear market rages on, there is every possibility for the OG crypto to fall even lower than that. Experts believe that a drop below this level could lead to a wave of forced liquidations by large-scale crypto investors who no longer believe that the token and its derivatives possess sufficient collateral.
The bear market is causing severe headaches within the industry. With the looming possibility of an extended crypto winter on the horizon, the crypto community is scrambling to make adequate preparations. However, bear markets are not always doom and gloom. For investors who prefer long-term cryptocurrency investments over short-term investments, the bear market provides the perfect opportunity for such prospects. With crypto prices going down, investors have the chance to purchase their favourite altcoins at cutthroat prices.
There are a plethora of altcoins to choose from, but this piece examines the following three – Paxos Standard (PAX), RenBTC (RenBTC) and Mehracki Token (MKI), and what makes them fantastic investment choices.
Paxos Standard (PAX)
Paxos Standard (PAX) is a top 50 cryptocurrency by market cap and a stablecoin managed by the Paxos Trust company. The coin is directly pegged to the US dollar to keep its price steady and consistent. In this way, Paxos Standard (PAX) differs from most crypto assets which are highly volatile.
The ERC-20 token combines the long-standing reliability and stability of the US dollar with the benefits of a digital currency. Pax Standard (PAX) holders can transfer the token at nearly no cost to anyone on the Internet and use it to interact with crypto platforms and decentralized applications (dApps).
With a market cap of $946 million and a circulating supply of near 945,642,940 PAX coins, Paxos Standard (PAX) is one of the best long-term cryptocurrency investment options in the market. The coin is available on popular crypto platforms such as Binance, Huobi Global and Coinbase.
RenBTC (RenBTC)
Next on this list is RenBTC (RenBTC), an Ethereum (ETH) based ERC-20 token directly pegged to Bitcoin (BTC). The token tends to maintain its value close to the Bitcoin (BTC) market rate, and since Bitcoin (BTC) is heavily affected by the bear market, investors can get RenBTC (RenBTC) in bulk at a meager price.
RenBTC (RenBTC) is minted on the Ren platform, an open-source platform that provides access to inter-chain liquidity. In doing so, the Ren platform helps bring assets from other blockchain networks to Ethereum (ETH) based decentralized applications (dApps).
RenBTC (RenBTC) is a direct competitor of Wrapped Bitcoin (WBTC) and unlike other Bitcoin (BTC) backed tokens, it is not a synthetic token. Additionally, RenBTC (RenBTC) is a direct supply peg and does not rely on any liquidation mechanisms to ensure it remains pegged to the value of Bitcoin (BTC).
RenBTC (RenBTC) is currently trading on crypto platforms such as Gate.io, PancakeSwap (V2), Curve Finance, Bittrex, and Raydium.
Mehracki Token (MKI)
Mehracki Token (MKI) is a community-driven metaverse meme coin native to the Mehracki platform. Meme coins are often the subject of scrutiny within the crypto community due to a lack of use cases and real-life applications. This often makes investors second-guess the token and not invest in it. The Mehracki platform recognises this, and its solution is the Mehracki Token (MKI).
Through a network of partnerships with hospitality outlets and De-Fi-capable NFTs, the Mehracki platform ensures that the Mehracki Token (MKI) possesses utility. MKI holders will not need to exchange or swap the token for other currency to pay for goods or services.
MKI is currently on presale, making it an ideal long-term cryptocurrency option in the bear market. Enthusiasts can purchase the coin using the link below.
Join Presale: presale.mehracki.io/register
Website: mehracki.io
Telegram: https://t.me/Mehracki_Official
Always conduct proper research when dealing with pre-sales of currencies and tokens. The information above does not constitute investment advice by CryptoMode or its team, nor does it reflect the views of the website or its staff.
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