The current risk-averse trading environment is perhaps the polar opposite of what the cryptocurrency market is all about. Price swings that are largely meaningless are frequently used to categorise the crypto market as being bullish or bearish. This is emphasised as a result of social media activity, memes, and other anomalous events. Due to the market’s turmoil, there are a plethora of oversold cryptos that you can add for potentially substantial gains down the road. Calyx news…
From the start, the cryptocurrency market has been incredibly volatile. We’ve seen how prices can spike one day and then reverse course the next. However, the current bear market has shattered investor confidence, implying that the sector’s era of outsized gains is over.
However, intelligent developers have rebelled against this notion by introducing presales, in which investors can buy a token before its launch at a low price. This practice has been found to multiply early buyers’ ROIs and replicate the riches produced by cryptocurrency bubbles throughout the 2010s.
Regardless of how the market feels right now, it’s clear that cryptos are here to stay. The changes brought about by the pandemic are permanent, and research indicates that the market will grow at a rate of more than 12.5% through 2030. Thus, despite the bearish noise, there is much to be excited about in the market.
Consider Ethereum (ETH) and Solana (SOL), which are popular choices on the market, as well as the new liquidity protocol, Calyx Token (CLX), which has just entered its presale and whose newfound protocol hints at explosive growth on launch.
Ethereum (ETH) is perhaps the most widely used cryptocurrency in terms of practicality. It has been gaining significant traction over the last few years and, according to analyst estimates, is still in the early stages of its growth story.
The network’s upcoming update will convert it from a proof-of-work to a proof-of-stake model. The new update will significantly reduce transaction costs, increase protocol efficiency, and boost processing speeds. The update will add to Ethereum’s (ETH) already burgeoning list of use cases and may even see the cryptocurrency overtake Bitcoin (BTC) as the dominant blockchain.
Ethereum (ETH), according to Cathie Woods of ARK Investment, could reach a market capitalization of more than $20 trillion within the next decade. Much of this is due to it being the first programmable blockchain, which enables an expanding ecosystem of DeFi services and dApps, as well as NFTs; it accounted for 78% of all NFT sales last year and has $114 billion invested in DeFi applications.
Solana (SOL) was one of the year’s most successful cryptocurrency investments. From January 2021 to November 2021, SOL increased by over 15,000%, reaching a high of $250. However, it has since fallen off a cliff, losing more than 60% of its value. Nonetheless, it has one of the sector’s strongest bull cases, making it an excellent long-term investment.
Solana (SOL) is renowned for its speed and efficiency, two factors critical to the success of any blockchain. Additionally, it includes smart contract functionality, which developers can use to create dApps. The platform is capable of processing an astounding 65,000 transactions per second at an average cost of just $0.00025 per transaction.
Solana (SOL) has been extremely popular in the development of dApps and NFTs. Within the last year, the network has grown from 70 to over 5,000 projects. Additionally, for multiple months, the blockchain has consistently ranked second in NFT volumes, giving Ethereum (ETH) a run for its money.
Yet Solana’s (SOL) market capitalization remains a sliver of Ethereum’s (ETH), indicating that it still has a massive growth runway ahead of it.
Calyx Token (CLX)
Calyx Token (CLX) is already demonstrating a lot of potential as it is one of a few cryptocurrencies that has managed to cause a stir in the crypto community before even launching.
Calyx Token (CLX) first turned heads when its ambitious White Paper revealed that the liquidity protocol would aim to introduce instant trade, whereby buyers can exchange their crypto immediately in a single transaction once requested. Additionally, minimal gas fees are promised because Calyx (CLX) will work by sourcing liquidity from multiple protocols.
Moreover, Calyx Token (CLX) is likely to draw in many farmers because of the lucrative incentives it will offer. Firstly, by contributing tokens to common liquidity pools, Liquidity Providers can earn a percentage of fees from executed swaps. There will also be privileges for those interested in staking; as they are granted access to the DAO, meaning they can participate and vote on agendas.
Calyx Token (CLX) is also expected to gain a high number of users because of its total decentralisation, meaning that the protocol is permissionless so users aren’t required to undergo extensive security checks and registration processes that are commonplace across so many exchanges.
Calyx (CLX) is undergoing a static presale, in which its price will remain the same up until launch. This means it’s difficult to estimate how much the token could grow based on the current number of buyers. However, given that Ethereum (ETH) and Solana (SOL) both started off in presales, it can be predicted that Calyx (CLX) has a long journey ahead in the crypto sector.