The crypto crash of 2022 showed the kind of far-reaching effects a downturn can have on the market. In this particular case, the extent of damage is not limited to just cryptocurrencies. For example, Non-Fungible Tokens (NFTs), which peaked in January 2022 with revenue of more than 12 billion dollars, hit a twelve-month low in the immediate aftermath of the crypto crash.
Even before the ripple effect from high inflation impacted the cryptocurrency industry, the stock market lost hundreds of points. The knock-on effect of high inflation was vast and caused upheaval. We will focus on the current state of cryptocurrencies by looking at specific tokens below:
Cosmos (ATOM) is the 28th ranked token in the market with a price of 9.24 and a market cap of 2.65 billion dollars; both values have decreased 8.9% in the last twenty-four hours. Surprisingly, ATOM tokens traded in the same period are 304 million, up 34.5% from yesterday.
According to its developers, Cosmos is designed to solve some of the hardest problems facing blockchain users. ATOM provides a solution to costly, slow, unscalable, and environmentally detrimental proof-of-work protocols, such as the ones implemented by Bitcoin.
The team behind Cosmos also has an ulterior motive: to enhance the blockchain experience by making it less intricate for developers. Therefore, ATOM contains a modular framework that simplifies decentralized applications and an Interblockchain Communication protocol that makes cross-chain communication more convenient than ever.
In 2014, Tendermint, a core component of the network, was launched. A white paper for Cosmos was published in 2016, and a sale was held the following year. Cosmos (ATOM) tokens can be earned through a hybrid proof-of-stake (PoS) algorithm that enables Cosmos Hub, the flagship blockchain, to be secure. ATOM holders also have governance rights and can vote on any changes to the platform.
The latest meme token on the market, Pugglit Inu (PUGT), is set to take the market. The name combines two animals, namely the puggle and piglet.—some attributes of Pugglit Inu Token Incentive. Potential token holders can utilize Pugglit Inu in a decentralized, safe, and environmentally sustainable project. In addition, users are assigned rewards for conducting transactions.
Pugglit Swap is another feature that allows token holders to exchange their tokens for other tokens and trade freely in a decentralized setting without worrying about security breaches.
Another aspect of Pugglit Inu (PUGT) is Pugglit Basket, a secure wallet where users can place their earned tokens. The Basket is safeguarded by potent cryptographic security and an easy-to-use interface. Token holders can track their business, usage, balance, rewards, and token market values from their wallets.
If users are facing trouble or have queries regarding the service, they can approach PUGT customer service on “Pugglit n U”; this is an excellent initiative where all the questions token holders may have been answered.
The developers at PUGT are busy working on PuggReach, a unique endeavor to allocate funds generated from token sales to expand the PUGT project. Many pet owners struggle with routines and cannot cater to their pets.
They need a person to look after their pets when they’re not home. The PuggReach program allows users to find qualified and trained professionals who can cater to their pets while away. In addition, pet owners can access a dedicated app and connect with potential pet sitters.
The daily trading figures for Cosmos (ATOM) are on the up, which bodes well for Pugglit Inu (PUGT). Given some of its features, PUGT should be a success when it releases. If you buy PUGT tokens in stage 1 of the presale, you’re eligible for a 10% bonus. Stage 2 has an 8% bonus, and stage 3 gives a 5% bonus. On the other hand, if you purchase a hundred dollars, you get a 4% bonus. The more funds you hold, the greater your bonus percentage will be.
