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There are currently more than 1,400 different cryptocurrencies, and the market is growing at a rapid rate. This means that investing in cryptocurrency can be an extremely lucrative business.
The top 10 coins are not necessarily the best purchases this period as even top coins such as Bitcoin (BTC) and Monero (XMR) have been caught up by the wave of the bear market.
However, considering new innovative cryptocurrencies, including GryffinDAO (GDAO) might be your best chance.
How GryffinDAO (GDAO) Could Redefine Decentralised Finance
GryffinDAO is building a Decentralised Autonomous Organisation (DAO) that will allow its users to have full rights of governance.
Most cryptocurrencies have high volatility as they are mostly influenced by the sentiments of those who trade in the market. Others such as stablecoins are pegged to the price of the dollar which in itself is not inflation-proof as it is backed by the federal reserve.
GryffinDAO has set out to build a token, GDAO, that is inflation-proof and at the same time not volatile. Some of the projects in the works of the Gryffin team include an NFT Marketplace, Multichain interoperability, an online gaming network, and a couple of other fantastic products.
The GryffinDAO team is working assiduously to make sure that they reel out perfect products, and cryptocurrency buyers are doing themselves a world of good by both keeping track of the token’s progress and taking note of when the protocol’s team will begin the token’s presale.
The GDAO token is perceived to succeed immensely — even with the bear market currently causing the fall in the price of many top coins — as it aims to target the crypto space and make a lasting mark.
Could Bitcoin (BTC) Remain The Most Popular Token
Bitcoin is a popular cryptocurrency that is growing in popularity and has been around since 2009, rising steadily to become one of the most valuable cryptocurrencies in the world.
The BTC Token is a secure digital currency, meaning it uses cryptography to make transactions secure. Because Bitcoin is decentralised, it has no single administrator or issuer—instead, it’s maintained collectively by its users around the world through a peer-to-peer network based on mathematical proof-of-work.
During the recent bear market that adversely affected dozens of top coins. Bitcoin, the big dog, has experienced the most-talked-about drastic drop in price. This has created a state of confusion for intending cryptocurrency buyers.
Monero (XMR) Is Extremely User-Friendly
Monero (XMR) is a private, open-source cryptocurrency that focuses on privacy and decentralisation. It was launched in April 2014 to provide users with an easy-to-use, scalable and decentralised currency.
Since then, it has gained a lot of traction in the crypto space and is now one of the most popular cryptocurrencies. The proof-of-work algorithm used by Monero is CryptoNightV8.
XMR can be used as a means of payment on the dark web and other websites that accept payments in cryptocurrencies. Its transaction speeds are faster than Bitcoin’s (BTC) and can be confirmed within seconds.
However, Monero is not considered a stablecoin because there is no limit on how much money can be moved from one party to another at any given time.
This makes it vulnerable to price volatility, especially during the bear market because there are no controls in place to prevent large amounts from being transferred between different parties at once.
While most launched coins are on the decline this season, the newly created GryffinDAO (GDAO) whose potential is yet to attain fruition, is predicted to be worth purchasing.
GryffinDAO (GDAO)
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