The crypto market, led by BTC, Ethereum, BNB Coin, and several other altcoins, reached $3 trillion in November 2021, when 1 Bitcoin reached an all-time high of about $70ooo. There were also a lot of concerns about Foreign Direct Investment in the cryptocurrency market at the time. Following that, Bitcoin began to normalise to price points under $60,000. Many experienced traders may not have predicted that the crypto market would eventually continue its downward trend, which is known as the crypto winter of 2022.
Despite the fact that the 2022 crypto winter was tough and several prominent coins &protocols were liquidated to almost nothing, there were numerous positives from the sector. The fall of Terra Luna (LUNA), a cryptocurrency established and maintained on the Terra blockchain by Terra Labs, is an identical example of a worst-case scenario for 2022.
The cryptocurrency market is getting increasingly unstable these days. Despite the unfavourable headlines that followed the crypto winter, additional DeFi coins were added. The number of cryptocurrencies listed on CoinMarketCap grew from over 10,000 in January 2022 to more than 20,700 in August 2022.
Now, let’s discuss the crypto coins that have the possibility to set the market to reclaim the record high position.
Despite experiencing losses as a result of the crypto winter, Ethereum is on the way to gaining higher price points. Because of its experience in the DeFi sector and ownership over a vast pool of utilities in the resources, Ethereum is a top store of wealth. Ethereum is currently 69% behind its all-time high. If ETH reclaims its all-time position following the crypto market reset, ETH holders might retake significant holdings.
Hex Coin (HEX)
Hex coin is a potential cryptocurrency and DeFi network which is ready to impact the market with its forthcoming incorporations. As a network base, Hex can be utilised for transactional and recreational goals, particularly after the introduction of PulseChain. Hex is required to introduce a certificate of deposit after staking users’ tokens. This certificate will include details about the calculated and compounded interest rates. Users can achieve a 38% of interest rate along with numerous other benefits by staking Hex.com.
As a B&B chain protocol, Supontis enables crypto traders to access vital resources and platforms to have a greater experience from Di-Fi. Supontis is backed by the Supontis token (BEP-20 token) and will include a cross-chain DEX and DAO governance architecture in which members will lock their tokens to make protocol choices. Supontis Token (PON) will be introduced through IDO following a presale that will begin at a price of $0.0056 per unit token. At this pricing, investors might expect a 1000x rise after IDO.