May has been a depressing month for cryptocurrency investors with coins across the board seeing dramatic reductions in price with retracements as large as 80% in some cases. It seems a global recession is incoming and as a result, many larger investors are offloading their riskiest assets and driving down market prices. Jerome Powell introduced another interest rate hike which saw tech stocks plunge and with the collapse of Luna cryptocurrencies were hit heavily. The Luna foundation flooded the market with Bitcoin in an unsuccessful attempt to regain the UST peg which drove prices to lows not seen since the summer capitulation of 2021.
However, with all these retracements many investors are steeling their nerves and buying up coins at a heavily discounted price following the age-old wisdom of buy low sell high. Featured in this article are 3 projects which are touted to have an enormous run when the markets rebound.
Gnox slated to release in Q2 of 2022 on the Binance Smart Chain (BSC) has seen significant interest from the crypto community. Gnox is the first protocol to offer yield farming as a service and with prevailing market conditions, a reflection token that pays its holders monthly in stablecoin has led many investors to partake in the pre-sale. The Gnox token features tokenomics of a buy and sell tax, with part of every transaction going to a treasury fund, that is then deployed in DeFi yield earning opportunities. The generated yields are distributed amongst Gnox investors in stablecoin every 30 days. Gnox has simplified the process of DeFi investment and many are waiting to see how the protocol will perform following its launch.
Binance Coin (BNB)
BNB the native token of the Binance Smart Chain (BSC) is currently trading around $300 down from an All-Time High (ATH) of $690 and is seen by many investors as an easy 2X. BNB launched in June 2017 and is the 5th largest cryptocurrency by market capitalisation. With the enormous success of the centralised exchange (CEX) Binance and the massive popularity of the BSC, the BNB token is almost guaranteed to soar in price again when market conditions stabilise. It is a coin that has stood the test of time and is thoroughly battle-tested making it a great buying opportunity currently and many investors are taking advantage of this ‘crypto sale’.
ATOM is the governance token for the Cosmos protocol. It currently trades near $10 down from an All-Time High (ATH) of $44 and many investors are excited for the project’s next run promising at least a 4X. Cosmos is what is referred to as a Layer 0. It aims to create an ‘internet of blockchains’. Cosmos aims to enable different blockchains to communicate with one another and is a competitor of the popular protocol Polkadot. Both these projects aim at interoperability between blockchains which will mark an enormous leap forwards in integrating the entire ecosystem of separate blockchains.
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