This is a summary of the market update after FTX destroys the market with a significant drop in Solana. FTX is who? Well, a lot of people went to a really large cryptocurrency exchange to purchase and sell cryptocurrency, and since it was such a large exchange, many of them believed their money was secure there. They support Major League Baseball and ran an advertisement during the Super Bowl.
And so, OMG! Everything is fine. No, really. All of the collateral listed on this major player's balance sheet, including their own tokens FTTS and Solana, crashed overnight, shocking the whole cryptocurrency market. They were taking out loans using their own prank money as collateral.
Solana decreased all the way to 16. The internet's future was forgotten, but what truly happened was that our confidence and the foundation of cryptocurrency were undermined, raising the question of whether we will be able to bounce back. Can crypto recover, yes? perhaps later. We are all currently contemplating it in that manner. The inflation statistics, meantime, were fantastic. Everyone would have said, "Oh my God, the Fed's done tightening, the dollar fell lower, and you would have thought it would be ideal for cryptocurrency," in a normal world. It was far from that, though, owing to SPF, and we'll see if cryptocurrency recovers.
** Five Altcoin GEMS at a Significant Discount:
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In reality, bear markets exist to increase your wealth. Bull markets only serve to highlight the 90 percent declines in some of the top crypto projects. There is no doubt that the bear market is really terrible, but it also presents a tremendous opportunity.
*What cryptos are still around today?
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Which individuals, in other words, will make it through this atrocity and recover in the ensuing bull run? In the wake of this FTX collapse, we have identified five outstanding cryptocurrencies that we are purchasing at a 90% discount after conducting a comprehensive research. Men, pay attention. We're listing our top five favorite projects, which we are accumulating in the current bear market. I sincerely wish you the best of success if you decide to invest, but keep in mind that this is not intended to be professional financial or investment advice. Today, jump right into the list.
- Arweave AR
The first item on our list is all about decentralized file storage, and just like polygon, we've got some pretty exciting news with meta: Instagram's integrations will include both polygon and our weave, both of which should see increased adoption as a result of this significant partnership. The polygon nfts that are part of the new Instagram partnership will use our weave for storage. Learn more information at Arweave AR
The price of our weave is currently $9.44 cents, which is down 94 from the bear market low and roughly 90 from the weave's all-time high. However, the bear market low for our weave was 7.98, and the current price is that. If it returns to those levels, which again, it's a quality project, and we fully anticipate it will, that would be an 8X, demonstrating just how huge these discounts are at the moment.
- KAVA
Our personal favorite is the next item on the list and comes in at number two, despite the fact that we haven't actually discussed it in a while. It is Kava, and they are assisting in the integration of Cosmos with the EVM, or Ethereum virtual machine.
And here's something fresh and intriguing from them: Cava's three pool on the curve of die USDC and USDT currently pays a respectable 14.2 apy for holding three stablecoins, and Cava Rise is developing into a fantastic developer incentive strategy to attract additional apps to the community.
We are almost 90% below the all-time high set last year at the bear market trough and current price, which is around $1.03 per share. We like Cava for a variety of reasons, and if it just returns to its prior all-time high, we think this would be a fantastic long-term buying opportunity. We're talking about a 9X, which we believe is completely achievable. If you haven't already, read this explanatory post. In two minutes, all right coin, we will explain Kava and what it is all about.
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