2022 has been a year of ups and downs for the cryptocurrency industry. The ongoing bear market is just the latest in a long line of bizarre events and situations that the industry has been forced to tackle. Beginning in the summer after crypto markets crashed alongside global financial markets, the ongoing bear market has ravished the industry, leaving a trail of crypto losses in its wake. With no end in sight to the bear market, the industry is finding innovative ways to cope with the situation.
One strategy that has yielded positive rewards is a focus on long-term cryptocurrency investments on favourable altcoins. This strategy promises bountiful rewards in the long term, but only if an investor chooses the right coin to invest in. With many options on the market, this could be a challenging task, one that requires hours of market research. Luckily, this piece will help to bypass such a tedious process by suggesting three altcoins that could yield massive profits in the ongoing bear market. Here’s everything you need to know about Polkadot (DOT), Chainlink (LINK) and Big Eyes Coin (BIG).
Polkadot (DOT) is a blockchain-based platform that connects and secures a network of specialized blockchains, facilitating the cross-chain transfer of any data or asset types, not just tokens. By operating in this manner, Polkadot (DOT) allows blockchain networks to be interoperable. Polkadot (DOT) is a blockchain network that exists to provide a foundation for a decentralized internet of blockchains, also known as Web3.
As a layer-0 metaprotocol, Polkadot (DOT) can connect public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through its Relay Chain. Its native cryptocurrency, DOT, is integral to its operation and ecosystem. DOT facilitates several activities, such as staking for operations and security, network governance, and bonding tokens to connect parachains. The token is available on several top crypto platforms, such as Binance, OKEx, Coinbase, Huobi and Kucoin.
Chainlink (LINK) is one of a few blockchain-based platforms providing solutions to the interoperability problem within the cryptocurrency industry. Chainlink (LINK) enables universally connected smart contracts to function through a decentralized oracle network and allows blockchain networks to securely interact with external data feeds, events and payment methods, providing the critical off-chain information needed by complex smart contracts to become the dominant form of digital agreement.
In the years following its launch, Chainlink (LINK) has become one of the major players in the data processing field due to its integration of off-chain data. Its native cryptocurrency, LINK, facilitates several operations and is a key part of its system. LINK is available on several top crypto platforms, including Huobi Global, Coinbase Pro, Gate.io and Kraken.
Big Eyes Coin (BIG) is the native cryptocurrency of the upcoming crypto project, Big Eyes. Big Eyes Coin (BIG) stands at the centre of all operations on the project and is a crucial tenet within its ecosystem. The token is attracting a lot of attention from major crypto players within the industry for several reasons and has been dubbed the next big coin since Solana (SOL).
Already in its presale stage, big Eyes Coin (BIG) has raised over $1 million and looks very likely to surpass the $20 million mark set by its founders. The token seems likely to become a valuable asset in the ongoing bear market and is not one to miss out on. See more information on the BIG token and the Big Eyes project here.