It is still very much bear market season in the cryptocurrency industry. The bear market, which began after the crypto market crashed alongside the global financial market, does not appear to be ending anytime soon. Its effects are apparent, with the cryptocurrency industry forced to make certain adjustments to deal with the situation. One of such adjustments is the wave of staff layoffs by prominent crypto platforms such as Coinbase, Gemini and BlockFi.
As the bear market rages on, crypto-related activities such as trading and investing are much harder to complete due to negative market prices and market volatility. However, this provides an opportunity for massive gains through long-term cryptocurrency investments on favourable altcoins. This piece examines three altcoins that could potentially fetch up to a 200x profit in the bear market. Here’s everything you need to know about Polygon (MATIC), Aave (AAVE) and FreeWoly (FWOLY).
What Should You Know About Polygon (MATIC)?
Polygon is an easy-to-use platform for Ethereum (ETH) scaling and infrastructure development. It is a flexible framework that exists to support building multiple types of applications. With Polygon (MATIC), anyone can create optimistic rollup chains, ZK rollup chains, stand-alone blockchains or any other kind of infra. Polygon (MATIC) can perform up to 65,000 transactions per second (tps) on a single side chain, along with a good block confirmation time of fewer than two seconds.
At the moment, Polygon (MATIC) supports only the Ethereum (ETH) base chain but will extend support for other base chains in the future based on community suggestions and consensus.
Polygon’s native token, MATIC, is central to its operation facilitating payment services and functioning as a settlement currency between users who operate within the Polygon ecosystem. MATIC is available on several crypto platforms in the industry, including Binance, Coinbase Pro, FTX, KuCoin, Huobi Global and more.
How Does Aave (AAVE) Contribute to the Crypto Industry?
Aave (AAVE) is a decentralised finance (DeFi) protocol that facilitates the lending and borrowing of crypto between individuals. On Aave (AAVE), lenders earn interest by depositing digital assets into specially created liquidity pools which borrowers can assess by using their crypto as collateral to take out a flash loan. Flash loans are a unique product of the Aave (AAVE) platform and are the first uncollateralized loan option in the DeFi space.
Apart from flash loans, another feature that makes Aave (AAVE) so attractive is the provision for borrowers to alternate between fixed and variable interest rates. The benefit of this is that while fixed rates provide some certainty about costs during times of volatility in the crypto markets, variable rates can come in handy if the borrower thinks that prices will fall in the near future.
The AAVE token, the native cryptocurrency of the AAVE platform, supports operations and facilitates transactions. The token is available on several crypto platforms, including Binance, OKEx, CoinBene and CoinDCX.
What Will FreeWoly (FWOLY) Offer To The Crypto World?
FreeWoly (FWOLY) is a meme coin that supports operations on the FreeWoly gaming platform. The token is necessary to complete actions such as transaction fees, rewards and payment for in-game items such as animals and farmlands. FreeWoly (FWOLY) also serves as the platform’s governance token and grants membership into its DAO (Decentralised Autonomous Organisation).
FreeWoly is an upcoming game that will redefine the crypto gaming industry. It combines Augmented reality (AR) with a play-to-earn (P2E) model to provide gamers with an immersive and breathtaking experience. FWOLY token is one of the many features within its ecosystem.
FreeWoly (FWOLY) could provide a way out for investors in the bear market. It goes on presale soon and is designed to reward early investors. Registering and purchasing the token within 15 minutes will be rewarded with 40% additional tokens.
