Three Crypto Projects you should be watching in the 2022 Bear Market: Frax (FRAX), Enjin Coin (ENJ), and Mushe Token (XMU)
Jun 20, 2022
New Delhi [India], June 20 (ANI/ATK): The crypto bear market provides investors with opportunities to pick crypto projects up at a cheaper price.
Market cycles are common with other more mature markets like stocks and bonds, hence, the crypto bear market should not come as a surprise. Although the majority of crypto tokens are seeing a price drop, this bear market should not scare investors away as many solid projects would always find their way back to the top.
Watching the market may be a bit scary as many tokens have lost their value in what seems like a never-ending process. Sticking to projects with solid fundamentals should ensure that you reap the rewards during the bull market cycle.
Three projects that stand out in this crypto bear market are Frax (FRAX), Enjin Coin (ENJ), and Mushe Token (XMU).
These three projects have demonstrated strong fundamentals and a solid team behind the projects. Why should you be watching these projects? Here is a brief breakdown of each project...
Frax (FRAX)
Frax(FRAX) is a fractional-algorithmic stable coin that is pegged to the dollar. It is an open-source, decentralized, and on-chain protocol. The project uses an algorithm to keep the value of its token pegged at $1. It creates a new paradigm of stable coins in the crypto ecosystem which previously consisted of fiat-backed, over collateralized, and algorithmic stable coins. Furthermore, Frax is currently built on the Ethereum blockchain and uses the ERC-20 token standard. The project has plans to migrate to other blockchains making it truly cross-chain.
The FRAXtoken uses a DAO to govern the protocol. It ensures that every aspect of the project is algorithmically controlled without much interference from holders/users. In addition, the FXS token is used to distribute fees among other things, while FRAX is used primarily for transactions and maintains its peg to the dollar on-chain.
Enjin Coin (ENJ)
ENJ is the utility token of Enjin, an ecosystem of interconnected blockchain gaming products. The Enjin network is a central hub that users can leverage to build communities, virtual stores, websites, and clans. With this robust stack, ENJ is the central token that sits at the center of this ecosystem. The ENJtoken backs assets created on the Enjin network as it is used as payment for buying and selling digital assets. Furthermore, the Enjin ecosystem allows upcoming gameFicrypto projects to have an edge in the sector.
The high and frequent activity of the Enjin ecosystem gives the token so much value. It allows its users to build freely and create their Metaverse on the protocol. This places ENJ in an invaluable position. ENJ also helps with providing instant liquidity, thereby giving more credence to its utility.
Mushe Token (XMU)
Mushe Token(XMU) is a peer-to-peer decentralized network that allows its users to create, build, and share a virtual Metaverse. Mushe Token has set out to build an interactive Metaverse that would incorporate various crypto concepts including play-2-earn (p2e), NFTs, and DeFi.
To make the Metaverse more immersive, would allow users to manage all their tokens using the Mushe wallet. The Metaverse bank would facilitate all trades within the MusheVerse including sales of NFTs and other digital assets.
The Mushe Token project aims to bring a new angle to the crypto Metaverse space by making it more robust and inclusive. By migrating to the Stellar and Solana blockchains, it would cement itself as a fully decentralized multi-chain Metaverse. In addition, it would lower the barrier of entry and allow users across multiple blockchains access to its network. To find out more about this project, please find the websites below.
Official Website: https://www.mushe.world/
Presale Registration: https://portal.mushe.world/sign-up
Telegram: https://t.me/MusheWorldXMU
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