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Three Long-Term Cryptocurrencies To Consider In The Ongoing Bear Market – Polkadot, Chainlink and Big Eyes Coin

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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. 

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Three Long-Term Cryptocurrencies To Consider In The Ongoing Bear Market - Polkadot, Chainlink and Big Eyes Coin 4

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).

One

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. 

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Three Long-Term Cryptocurrencies To Consider In The Ongoing Bear Market - Polkadot, Chainlink and Big Eyes Coin 5

Two

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.

Three

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Three Long-Term Cryptocurrencies To Consider In The Ongoing Bear Market - Polkadot, Chainlink and Big Eyes Coin 6

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.

Website: https://bigeyes.space/ 

Telegram: https://t.me/BIGEYESOFFICIAL 

Twitter: https://twitter.com/BigEyesCoin 

Polkadot ups its game with Web3: Here comes LayerZero

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A cross-chain messaging mechanism called LayerZero has purportedly been implemented into the Polkadot parachain Moonbeam, according to a recent report. The network wants to maintain Web3 interoperability with this.

The Web3 world has been encroaching on the entire planet. The majority of people think it’s the present and the future, thus many businesses have started launching efforts that are in line with that belief. The interoperability of Web3 blockchains has been a goal of a wide range of cryptocurrency initiatives. The Polkadot [DOT] network has been pursuing the same goal and has recently increased its visibility on Web3.

It should be remembered that the network has tried launching an internal messaging service before. It should be recalled that Polkadot released the XCM cross-chain communications protocol back in May of this year. The messaging system was designed to encourage communication between smart contracts and parachains.

“Heterogeneous blockchains that are connected to Polkadot” is what parachains are. One of them just so happens to be moonbeam. It has LayerZero incorporated, but it has also been using the XCM for a while.

LayerZero for more than simply Polkadot’s blockchain

LayerZero’s integration on Moonbeam is anticipated to improve messaging services not just for Polkadot but also for other chains. The integration is anticipated to result in more comprehensive messaging services through Ethereum, BNB, Polygon, and other platforms.

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Derek Yoo, CEO of Purestake

When discussing how Moonbeam would become a “centre of activity,” Derek Yoo, CEO of Purestake, Moonbeam’s parent business, remarked,

“These messaging systems and this ability to network means your app is going to become quite prevalent [across chains].”

In addition, it appears that Polkadot wants to become a Web3 leader. The previous few months have seen a lot of interest in cross-chain messaging. The Open Chat Alliance was recently created by Solana-based projects.

Solana is an open-source blockchain that supports decentralized applications, smart contracts, and non-fungible tokens (NFTs) (dApps). The SOL token, a native to Solana’s blockchain, provides value transfer and internet security through staking.

There are presently 349,120,156.69 SOL in circulation, according to Solana. On November 6, 2021, SOL hit an all-time high of $260. Currently, it is trading at $36.18, down 86% from its peak.

Polkadot, Litecoin And RoboApe: The Big 3 Cryptos To Help Make You Money

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The Meme Cryptocurrency world has seen exponential growth in the past few months. There are now over 50 different cryptocurrencies being traded around in exchanges worldwide created as part of an internet meme. 

The first meme cryptocurrency was created not long ago, with over 50 unique offerings. Meme coins and ICOs are changing the way people view cryptocurrencies and the utility they provide. Still, it’s important to be cautious and informed before you jump on board.

However, not every meme coin is like Dogecoin (DOGE), which can make you an overnight millionaire. The recent crypto market crash has affected all crypto coins in value. The presale stage of many cryptocurrencies has seen wild fluctuations in value since the beginning of 2020, with some coins jumping as much as 300% in a single day. 

RoboApe (RBA) is a new cryptocurrency that looks like a worthy investment and has the potential to provide exceptional utility to give more than it takes. Keep reading to get detailed information about it.  

RoboApe (RBA) Is Changing The Crypto Game

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Polkadot, Litecoin And RoboApe: The Big 3 Cryptos To Help Make You Money 10

RoboApe (RBA) is a meme token that operates as a Decentralized Autonomous Organization (DAO) that empowers growth proposals, resources, and decision making. This platform provides users with a wide range of opportunities to generate, interact, and manage their finances in a decentralized manner. 

It is mainly targeting the esports industry, which sets it apart from the rest. With its strong gaming ecosystem, this platform will support both browsers as well as mobile applications. In addition, users can interact with other gaming enthusiasts while participating in exciting contests with great rewards. 

The ERC-20 RBA token offers investors various advantages and use cases and will power the RoboApe ecosystem. It features an NFT marketplace where users will be able to buy, sell, and trade. Its marketplace charges an RBA gas fee for minting new NFT tokens. While functioning as a cross-chain interoperable network, this platform will feature RoboSwap, allowing users to transfer tokens across various blockchains. 

Polkadot (DOT) 

Polkadot (DOT) is an open-source, scalable, interoperable, and secure blockchain network that allows data across any blockchain. This platform allows arbitrary data and not just tokens to be transferred across the blockchain. As a governance token, it allows users to participate in decision-making. 

By connecting several different chains in a single network, this platform connects several different chains in a single network allowing them to process transactions in parallel and exchange data between many different chains without sacrificing security. 

With the same ambitions as Ethereum, it aims to become a significant platform for smart contracts and the deployment of dApps. Moreover, it is a true multi-chain application platform where cross-chain registries and cross-chain computation are possible.  

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Polkadot, Litecoin And RoboApe: The Big 3 Cryptos To Help Make You Money 11

Litecoin (LTC) 

Litecoin (LTC), launched in 2015, and created by Google engineers, is a peer-to-peer Internet currency that enables near-zero cost and instant payments to anyone worldwide. This platform is an open-sourced, decentralized, and second oldest cryptocurrency. It offers low transaction fees without any third-party intervention. 

This platform will offer a faster transaction security system and makes it less susceptible to ransomware. In addition, Litecoin (LTC) comes with a Proof-of-Stake (PoW) algorithm, which relies on access to a large volume of memory instead of Central processing Unit (CPU) computing power only. 

Final Verdict

The question of whether or not a RoboApe (RBA) is a good cryptocurrency can only be answered with time. However, we can still examine the project for its viability and potential for future development. Its unique roadmap and real-life applications have the potential to skyrocket in value. 

Although Litecoin (LTC) has a reliable development team, Litecoin’s reputation has taken a hit. As a result, Litecoin (LTC) might find it difficult to gain momentum during the upcoming bull run. 

Whereas Polka Dot (DOT) interoperability network may face intense competition. There are numerous related projects in development. Although they have not yet been released, they may encounter fierce competition.

It’s a once-in-a-lifetime chance to make millions of dollars with RoboApe (RBA) in the coming years. However, the coin has a very high level of volatility because of the presale stages, and it can be very profitable. Find more information here.


3 Crypto projects you should know about: Binance Coin, Polkadot, and Pugglit Inu

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2020 was an era of meme coins, where multiple projects launched in the market and proved to be a valuable addition to the crypto world. Platforms like Shiba Inu (SHIB) surfaced and brought a revolution in the cryptocurrency niche.

Similarly, developers are designing a new meme coin project, Pugglit Inu (PUGT), to revolutionize all the tokens and introduce better forms in this industry. 

Pugglit Inu (PUGT) promises to be a next-level solution to many crypto-related problems like lack of accessibility, rigid ecosystems, high transaction costs, and lack of security.

This is the first step taken by the developing team of Pugglit Inu Network to provide a safer and barrier-free infrastructure for crypto transactions. 

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Let’s dive deep into the nitty-gritty of the upcoming project to know more about its features. Simultaneously, compare it with existing crypto giants, Binance Coin (BNB) and Polkadot (DOT), to analyze its potential in the market. 

All about Binance Coin 

Binance Coin (BNB) is one of the few cryptocurrencies that don’t need introduction in the market; almost every other person is aware of this crypto giant.

It is a decentralized platform that operates as a crypto token and blockchain network that hosts multiple crypto projects in the industry. However, it has recently faced repercussions for illegally functioning in the Netherlands.

But this should not overlook the features of the Binance Coin ecosystem. The token has contributed to the overall development of the cryptocurrency market and plays a significant role in assisting countries like Cambodia in advancing digital asset regulations. 

What is Polkadot?

Polkadot (DOT) is another decentralized platform that uses Web 3.0 to provide economic and transactional stability to digital assets, especially cryptocurrencies. 

The developing team has incorporated the Proof of Stake mechanism (PoS) within the ecosystem through which $DOT token holders can participate in validating the transactions.

Here, the users have to lock a certain number of tokens with the network to earn the right to verify the network processes. In return, the users receive incentives in the form of additional DOT tokens. 

Pugglit Inu (PUGT): Revolution of Meme coins

Pugglit Inu (PUGT) is an initiative that originated to address all the problems users face while transacting with cryptocurrencies. It aims to incorporate community-friendliness in the crypto world, where the entire network is governed by the users associated with the network. This addition will help build a transparent relationship with the ecosystem, and people will trust the network while buying/selling their tokens.

Features of Pugglit Inu (PUGT)

To add value to the project, the team plans to incorporate the following features:

  • DAO governance protocol to empower users and give them voting rights
  • Pugglit token bridge to process transactions at high speeds and with fewer costs
  • Pugglit Wallet to keep a check on tokens sold, bought, earned, and exchanged
  • Token incentives to motivate users to engage and use their coins to stake or contribute to liquidity pools
  • Pugglit n U directs all user queries to the product development team.
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Pugglit Inu (PUGT) is a governance and utility token of the Pugglit Inu network. It will act as a native cryptocurrency for primary transactions, like paying transaction fees and cross-chain exchange of coins, disbursing incentives to users, etc.

Furthermore, the network uses a decentralized network to promote transparency and security within the ecosystem. Like famous meme coin projects, Shiba Inu (SHIB) and Dogecoin (DOGE), this upcoming project aims to reach the top of the market. For this, the developing team has a steady road map, which might be the gateway to success for the Pugglit Inu Network. 

The Pugglit Inu (PUGT) provides bonus opportunities for users. For example, if you use USDT TRC-20 tokens to purchase PUGT, you will receive 24% extra crypto coins. Also, if you buy them during the first stage of the presale, you can earn an opportunity to get 10% additional PUGT tokens.

You can find more information here.

Dogecoin and Polkadot Support Has Been Added by Japan’s Bitbank

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Dogecoin and Polkadot have been gaining global attention. In a blog post published on August 3, Japanese crypto exchange Bitbank announced the addition of support for Polkadot (DOT) and Dogecoin (DOGE).

Customers of the Tokyo-based exchange may now trade a total of 18 cryptocurrencies. According to the blog post, Bitbank’s bitcoin lending business will also support the two aforementioned coins.

To foster fintech developments in the nation, the Japanese Financial Services Agency (FSA) certified Bitbank and 10 other businesses as registered crypto exchange operators back in October 2017.

Dogecoin was listed by FTX Japan in May

In conjunction with Japanese financial holding company Sumitomo Mitsui Trust Holdings, Bitbank established a custody company named Japan Digital Asset Trust (JADAT) in May.

Last month, the cryptocurrency behemoth’s local affiliate in Japan, FTX Japan, gained support for Dogecoin.

The Shiba Inu-inspired meme coin gained acceptance from BTCBOX in March, making it the first authorized cryptocurrency exchange to do so.

To keep up with other trading platforms across the world, Nikkei reported earlier this year that Japanese cryptocurrency exchanges had begun the process of streamlining listings.

Bitcoin (BTC), XRP, Ethereum (ETH), Stellar (XLM), and a few other well-known altcoins are included on the green list of tokens that have been authorized by the Japan Virtual and Crypto Asset Exchange Association (JVCEA) and will no longer be subject to extra screening processes.

Dogecoin was created with the intention of being a joke. Shiba Inu-themed DOGE has gained popularity online since its introduction in 2013. The cryptocurrency gained popularity in the mainstream as Elon Musk began to talk about it. Since then, every time Elon tweets about DOGE, the meme currency has seen some brief rises.

Dogecoin’s development has been slower than that of the Shiba Inu. In order to refute the claim, Dogecoin has revealed its redesigned website.

Rock icon, Gene Simmons to sell mansion in exchange for cryptocurrency

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Kiss’s bassist and vocalist, the rock icon and a successful entrepreneur Gene Simmons who is also known for the early adoption of cryptocurrency, announced on 1 February 2022 that he will accept cryptocurrency as a medium of exchange for his Las Vegas Estate. The estate is currently listed on the market for $13,500,00.

Simmon’s modern desert mansion is located in the Ascaya community in Henderson, south of the Las Vegas strip. The mansion is more than 11,000 square feet, being well perched above the valley, and with a private orchard adjacent to it.

The rock icon has asserted to accept payments through either Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Try.Finance, Uniswap (UNI), Polkadot (DOT) or Aave. He has also said that aggregation of all these coins would be accepted as well.

In perspective, Kiss’s bassist and vocalist, Simmon’s, told Blabbermouth,

“I have been an outspoken proponent of cryptocurrency from the beginning. It is the future of money, and it just makes sense to offer interested parties the option of using cryptocurrency to purchase the estate.”

It has come to light, that The Ivan Sher Group of Berkshire Hathaway Home Services Nevada Properties was selected to represent the rockstar’s luxury estate. Furthermore, Evangelina Duke Petroni, the salesperson in charge, of Berkshire Hathaway Home Services clarified that parties interested in purchasing the mansion should be verified through closing costs, along with commissions and taxes.

The rockstar goes way back with crypto

The bassist and vocalist of the classic rock band Kiss, spoke about cryptocurrencies on Twitter about a year ago, on 1 February 2021. A few months before this, Simmons tweeted about the subject with Cameron Winklevoss on 15 September 2020.

This message was decoded eventually when the Simmon’s said that he bought and now owned some digital currencies. Through the tweet, he made it clear that he wasn’t recommending it to anyone, but he had bought and will own Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and others.

Furthermore, Simmons joined forces with the Tesla founder Elon Musk and hip hop star Snoop Dogg, to show support of Dogecoin (DOGE).

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Rock icon, Gene Simmons to sell mansion in exchange for cryptocurrency 15

The rockstar, also known for his on-stage persona as ‘The Demon’ embraced Dogecoin through this tweet and disclosed that he had bought the meme token.

It’s raining Parachains! Polkadot’s [DOT] first 5 projects go LIVE

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Polkadot [DOT], a blockchain interoperability platform has announced the arrival of its five parachains into its network, marking a pivotal point in the interconnected blockchain technology domain as well as demonstrating its multi-chain capabilities. According to the press release, the name Parachain refers to a set of individual blockchains that runs in tandem with the ecosystem and is now finally released on the network after five years of meticulous research.

The first five to win the slot on the Polkaldot’s relay chain are Acala, Moonbeam, Astar, Parallel Finance, and Clover, which would continue to be under a lease up to 96 weeks at a time. Each of these para chain groups would be focusing on a variety of topics ranging from decentralized finance [deFi] to investments and loans, as well as smart contract functionality. The next batch of para chain auctions will be launched on Dec. 23, this year. and the winners would be announced on March 11, 2022.

It is noteworthy to mention that Polkadot has been hosting parachain slot auctions since Nov. 1, 2021. So, Projects aiming to win a slot host crowd loans to raise DOT tokens and staked the received coins to bid on parachain slots. The first such parachain slot was won by decentralized finance (DeFi) platform Acala with Moonbeam, an Ethereum smart compatibility protocol holding the second slot.

Talking about interoperability, despite the rise of several public blockchains, sending tokens and data across chains poses challenges because every blockchain ecosystem is fragmented and the emerging interoperable bridges are generally considered risky due to their reliance on centralized processes like token wrapping. 

Polkadot’s Parachain mechanism

In order to address this interoperability issue, Polkadot‘s network executes cross-chain communication at the protocol level and secures Layer1 parachains through a process called shared security. Speaking more on the parachain model and the value they create in the Web3 domain, Creator Gavin Wood stated,

“The parachain model was created with the belief that the future of Web3 will involve many different types of blockchains working together. Just as the current version of the Internet caters to different needs, blockchains need to be able to provide a variety of services. Parachains solve this.”

Polkadot [DOT] preps for a trend reversal; Bulls to propel DOT towards $30?

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Drowning in red, the entire crypto market was desperate for a bullish sight. Polkadot [DOT] seemed to be steering in the direction of the bull. The bullish bandwagon was entering the market at the right time as the coin was on the brink of slipping down to $20.

Meanwhile, other crypto-assets were being tested by the bear. Bitcoin [BTC], continued its stay below the $50K zone. During press time, the king coin’s price was noted at $47,137 with a 3% daily drop. Bitcoin’s market cap took a huge hit as $1 trillion was quite far away from its current value, $888.88 billion.

During the pandemic, Polkadot [DOT] emerged as a prominent coin of the crypto-verse. The asset continued its stature despite encountering a few hurdles pertaining to ranking on the way. The entry of new coins sidelined coins that have been existing for quite some time now, however, DOT managed to stay afloat and didn’t slip below the top ten.

At the time of writing, DOT’s market cap was at $1.21 billion while it took over the ninth position.

Moving over to its price, Polkadot was trading for $26.13 with a 7.40% reduction in the last 24-hours.

Polkadot [DOT] one-day price chart on Binance

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Polkadot [DOT] preps for a trend reversal; Bulls to propel DOT towards $30? 17

The one-day price chart of Polkadot was noted that the altcoin was gearing up for a change in its trend. The bears had strained the altcoin and the bulls were bringing in better days. The Parabolic SAR indicator laid out a line of support below the price candles. This line would prevent the asset from undergoing any untimely drops. The Awesome Oscillator followed suit by putting forth green closing bars and announcing the presence of the bull.

The Relative Strength Index [RSI] indicator, however, remained still in the sellers’ arena. The RSI marker was found drowning below the 50 median, extremely close to the oversold zone.

Polkadot [DOT] prolongs its struggle to get over $30 following strong bearish winds

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The crypto market was hit by a massive bearish tornado. Polkadot [DOT], Avalanche [AVAX], Shiba Inu [SHIB] were among the assets that endured major losses over the last couple of days. Bitcoin [BTC], decided to rest below the $50K zone. During press time, the king coin was trading for $49,178 with a 5% drop over the last 24-hours. Additionally, BTC was no longer part of the $1 trillion club.

The altcoin market didn’t have much luck either. Most of the coins were plummeting. Ethereum [ETH] was trying hard to retain itself above $4K. XRP, however, had taken a hit as it dived down below $1.

Polkadot [DOT] was quite the star a couple of weeks ago, specifically during the parachain auctions. The altcoin even hit an all-time high of $55. This bullish strain was interrupted as the bears emerged stronger in the altcoin’s market.

At the time of writing, DOT was trading for $28.42 with a 4.33% dip in the last 24-hours. Over the previous seven days, Polkadot witnessed a drop of nearly 24%. This wasn’t surprising as the entire market was undergoing a similar notion.

Furthermore, Polkadot went downhill in terms of ranking. The altcoin’s market cap was noted at $28.1 billion. The asset sat as the ninth-largest cryptocurrency, right above Terra [LUNA].

Polkadot [DOT] one-hour price chart on Binance

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Polkadot [DOT] prolongs its struggle to get over $30 following strong bearish winds 19

The short-term price chart of Polkadot was overpowered by the bears. The Parabolic SAR indicator framed dotted lines over the price candles. This line acted as a barricade against any possible upward movement further making the pattern extremely bearish.

The MACD indicator went on to lay out a bearish crossover with the signal line overtaking the MACD line. Consequently, the Relative Strength Index [RSI] stayed below the 50 median further indicating a sellers’ market.

With all these signs bending towards the bears, the chances of DOT crossing $30 would remain bleak for a while.

DOT hovering over monthly lows but, accumulation is on the rise; Bulls to take over?

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DOT prices are bearish for a second consecutive day as the prices fall by nearly 2.6%. The trading volume has also fallen as well as the market cap. The prices have been at the lowest levels in the past 30 days.

In the past 30 days, the token rose to an ATH above $55 and fell to a low price of $32.75. Currently, the token is at $35.7 and aims for higher prices, but the volumes are not enough.

Data from CoinMarketCap shows that the trading volume of the token dropped by over 24.93% and is currently at $1.16 billion, while the market cap of the token dropped by 4.76%. The market rank of Polkadot is 9th, with a market cap of $35.1 billion.

The prices opened today’s daily candle at $36.76 and reached a daily low of $35.05. The daily high stands at $36.79, while the overall trend is bearish following the crash in mid-November.

DOT price analysis on the daily chart

The daily chart shows that the DOT token is currently under bearish pressure as the prices fell below the 50-day Moving Average as well as the 100-day Moving Average. If such conditions continue to prevail, we can expect lower prices for the token.

The Polkadot price chart below shows that the accumulation of the token continues to increase. The trend is bearish while the A/D line is still rising. A bullish breakout is possible for Polkadot soon.

DOT price analysis
Polkadot price analysis on the daily chart by TradingView

The MACD line is progressing below the signal line, which is a bearish sign indicating lower prices. However, the two lines are closing in, and the possibilities of bullish divergence are increasing.

The RSI levels have entered the bearish region, and the gradient is negative. This means that lower prices are possible as prices are entering the overbought region.

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price analysis on the daily chart by TradingView