Published
1 year ago on
May 18, 2022
It's no secret that crypto investors have had a difficult time of late, with most major cryptocurrencies down year to date. Periods of turbulence, like in traditional equity markets, can be a good time to pick up some quality names at a discount to where they were just a few months ago. Despite the market's recent downturn, these tokens are all poised for positive developments and catalysts.
Cardano (ADA)
Cardano (ADA) experienced a surge in network activity throughout the first quarter of the year. The high transaction volume (LTV) of the blockchain represented an increase in institutional demand. Cardano received a substantial upgrade in September 2021 after its initial release in 2017. This advancement has aided ADA's growth, with the Cardano ecosystem recently adding 400 new projects, bringing the total number of projects to about 900. DeFi loans, new wallets, and NFT collections are now part of the broad network. The value of ADA is continuously increasing, providing investors with stable returns.
As a result, this month may be an excellent opportunity to lock in your investments in the Cardano (ADA) cryptocurrency.
TRON (TRX)
TRON (TRX) is hoping to follow in the footsteps of cryptocurrencies such as Terra (LUNA) with the launch of USDD, a high-yielding stablecoin that was launched on May 5th and is available on Tron (TRX), Ethereum (ETH), and the Binance Smart Chain (BSC).
TRON (TRX) has been one of the few cryptocurrencies to gain ground in the last week, increasing by 6% as the anticipation for the USDD's launch grew.
USDD, like TerraUSD, will be algorithmically backed. Traders can exchange 1 USDD for $1 worth of TRON (TRX) if the USDD falls below its $1 peg. Traders can exchange $1 worth of TRON (TRX) for USDD if the USDD rises above $1. This mechanism should keep the price of the USDD in a tight range around $1.
TRON (TRX) is attempting to attract new investors in the same way that TerraUSD has been instrumental in the rise of the Terra (LUNA) network. TRON (TRX) is pushing the envelope by offering 30% interest on USDD held in its Anchor Protocol, while Terra (LUNA) pays 20% interest on TerraUSD held in its Anchor Protocol.
TRON (TRX) is unlikely to overtake Terra, but this yield is likely to attract more investors to the Tron (TRX) ecosystem for the first time.
RoboApe (RBA)
