Crypto news today suggests that the world’s largest cryptocurrency by market capitalization, Bitcoin (BTC), crosses the $20,000 mark, a critical support level for the token. As the bear market rages on, there is every chance that the OG crypto will fall even lower than this. Experts believe that a drop below this level could lead to a wave of forced liquidations by large-scale crypto investors who no longer believe the token and its derivatives hold sufficient collateral.
The bear market is causing serious headaches within the industry. With the imminent possibility of an extended crypto winter on the horizon, the crypto community is scrambling to make adequate preparations. However, bear markets are not always catastrophic. For investors who prefer long-term cryptocurrency investments to short-term investments, the bear market provides the perfect opportunity for such prospects. With falling crypto prices, investors have the opportunity to buy their favorite altcoins at bargain prices.
There are a plethora of altcoins to choose from, but this article looks at the following three – Paxos Standard (PAX), RenBTC (RenBTC) and Mehracki Token (MKI)and what makes them fantastic investment choices.
Paxos Standard (PAX)
Paxos Standard (PAX) is a top 50 cryptocurrency by market capitalization and a stablecoin managed by the company Paxos Trust. The coin is directly pegged to the US Dollar to keep its price stable and consistent. In this way, Paxos Standard (PAX) differs from most crypto assets which are highly volatile.
The ERC-20 token combines the long-standing reliability and stability of the US dollar with the benefits of a digital currency. Passenger Switchboard (PAX) holders can transfer the token almost for free to anyone on the internet and use it to interact with crypto platforms and decentralized applications (dApps).
With a market capitalization of $946 million and a circulating supply of nearly 945,642,940 PAX coins, Paxos Standard (PAX) is one of the best long-term cryptocurrency investment options out there. The coin is available on popular crypto platforms such as Binance, Huobi Global, and Coinbase.
Next on this list is RenBTC (RenBTC)a Ethereum (ETH) based on the ERC-20 token directly linked to Bitcoin (BTC). The token tends to maintain its value close to the Bitcoin (BTC) market rate, and since Bitcoin (BTC) is heavily affected by the bear market, investors can obtain RenBTC (RenBTC) in bulk at a low price.
RenBTC (RenBTC) is minted on the Ren Platform, an open-source platform that provides access to cross-chain liquidity. In doing so, the Ren platform makes it possible to bring assets from other blockchain networks to Ethereum (ETH) decentralized applications (dApps).
RenBTC (RenBTC) is a direct competitor to Wrapped Bitcoin (WBTC) and unlike other Bitcoin (BTC) backed tokens, it is not a synthetic token. Additionally, RenBTC (RenBTC) is a direct supply anchor and does not rely on any liquidation mechanism to ensure that it remains pegged to the value of Bitcoin (BTC).
RenBTC (RenBTC) currently trades on crypto platforms such as Gate.io, PancakeSwap (V2), Curve Finance, Bittrex, and Raydium.
Mehracki Token (MKI)
Mehracki Token (MKI) is a community driven metaverse meme piece native to the Mehracki platform. Meme coins often come under scrutiny within the crypto community due to a lack of use cases and real-world applications. This often forces investors to guess the token and not invest in it. The Mehracki platform recognizes this and its solution is the Mehracki Token (MKI).
Through a network of partnerships with hotel outlets and De-Fi enabled NFTs, the Mehracki platform ensures that the Mehracki Token (MKI) has a use. MKI holders will not need to trade or exchange the token for another currency to pay for goods or services.
MKI is currently in presale, making it an ideal long-term cryptocurrency option in the bear market. Enthusiasts can purchase the piece using the link below.
Join the presale: presale.mehracki.io/register
Always do proper research when dealing with currency and token presales. The above information does not constitute investment advice from CryptoMode or its team, nor does it reflect the opinions of the website or its staff.
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