Crypto Prices Fall But These Coins in the Green – MKR, IMPT AAVE, XMR, UNI
The prices of cryptocurrencies have tanked once more. And while several big-name cryptos struggle with a bear run, many digital assets are trading in the green.
This article will examine some coins that present impressive buying opportunities.
Maker (MKR)
MKR, the native token for the Maker protocol, is one of the coins in the green. Built on the Ethereum blockchain, the Maker protocol leverages smart contracts to automate the lending and collateralization of its stablecoin, known as DAI, while offering other functionalities, like lending.
MKR currently trades at $1,114.46, demonstrating a 2.26% increase in the past 24 hours. The digital asset is currently among the best performers in the CoinMarketCap top 50 rankings.
MKR enthusiasts are excited about the protocol’s recent vote to allocate $500 million to U/S treasuries and corporate bonds. The proposal, which passed on October 6, will see most of the $500 million invested into short-term U.S. treasuries.
$160 million will be allocated to the 0-1y U.S. Treasury iShares ETF while $240 million to the 1-3 year U.S. Treasury iShares exchange-traded fund (ETF) from BlackRock. The remaining $100 million will be allocated to investment-grade corporate bonds provided by Baillie Gifford, an investment management firm.
The Maker DAO, a decentralized autonomous organization that runs the protocol, believes that this allocation will be a good way to deploy unused funds and provide the protocol with enough yields without risking the DAI’s peg to the dollar. Although the market is in a downturn, investors can still earn yields.
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IMPT (IMPT)
Another asset poised to deliver massive gains to investors is IMPT. The token has continued to generate significant attention from investors and could be the next big thing in the market.
IMPT, the self-styled “greenest cryptocurrency,” powers the Ethereum-based platform that harnesses the power of blockchain to fight climate change. The Impact Project was launched this year, allowing users to fund eco-sustainability projects worldwide and buy carbon credits that can help them offset their carbon footprint.
With blockchain technology continuing its penetration into different spaces, many have been looking to see how it could help improve environmental sustainability. IMPT is at the forefront of this, and its IMPT token is central to its operations.
IMPT is currently available on presale. The token has already raised over $5.9 million in less than three weeks, with the first phase of its presale expected to conclude in November. With the platform already signing over 25,000 affiliate partners to join its network and use its service, IMPT has a solid fundamental base for a huge jump once its presale is over.
Aave (AAVE)
AAVE is one of the most prominent decentralized finance (DeFi) coins. The digital asset is the utility token for Aave, a top decentralized lending protocol that runs on the Ethereum blockchain. The platform ranks behind only Maker among the top lending protocols in the market, according to rankings on DeFi Pulse.
AAVE currently trades at $82.87, marking an uptrend of 5.46% in the past 24 hours.
The Aave community anticipates the launch of the GHO stablecoin. The digital asset, which was greenlit on July 31, is expected to be an overcollateralized dollar-backed stablecoin. It won’t require any price oracles to determine its price, and the protocol will rely on arbitrage – where users can redeem their GHO tokens in case the asset falls below the $1 threshold.
Users who have staked their AAVE will be able to mint GHO at a discounted rate as well, and the technical audit shared earlier this week found that the asset doesn’t have any technical errors.
The Aave Companies have provided an update on the development of GHO. This includes the GHO technical paper and details on the first GHO audit. Read more here 👉 https://t.co/VqQvIBG5pH
— Aave Labs (@aave) October 14, 2022
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Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Cryptonews is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
Monero (XMR)
Monero (XMR) is one of the most popular privacy coins on the market. The crypto asset focuses on making it easier for investors to send money anonymously and affordably, regardless of where they are.
XMR remains a large-cap coin. It currently trades at $147.47, a 1.09% increase in the past 24 hours.
Monero use has dropped significantly as more scrutiny has befallen privacy coins. However, the asset is still a top attraction for crypto purists who desire anonymous payments.
Earlier this week, HackNotice, a Texas-based threat awareness platform, began accepting the asset for payments. XMR joins only Bitcoin (BTC) as hack notices faceted cryptocurrencies, with the company highlighting its ability to support anonymous payments as a major attraction.
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Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Cryptonews is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
UniSwap (UNI)
Rounding out the list of coins in the green today is UNI. It is the native token for Uniswap, one of the foremost decentralized exchanges in the market.
Uniswap is one of the top DEXs available, allowing users to make seamless asset trades and swaps without relying on a centralized authority. Its utility token, UNI, currently trades at $6.52, marking a price pump of 3.82% in the past 24 hours.
Last week, Uiswap Labs, the exchange’s developers, announced that they had raised $165 million in their Series B funding round. The capital raise values the company at $1.6 billion, with Uniswap looking to expand into non-fungible tokens (NFTs) and launch a mobile app. Initiatives like these should help spur the exchange’s adoption, bolstering the price of UNI in the long run.
1/ We’re proud to announce that we’ve raised $165 million in Series B funding to bring the powerful simplicity of Uniswap to even more people across the world 🦄🍾https://t.co/ChilydWOEO
— Uniswap Labs 🦄 (@Uniswap) October 13, 2022
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Cryptonews is not an affiliate and may be compensated if you access certain products or services offered by the MSB.
IMPT Offering Quicker Profits
In the meantime, arguably, one of the best options for gaining during a bear market is investing in a newly launched altcoin, via a presale. 2022 has seen successful token sales from the likes of Tamadoge (TAMA) that have led to big returns, and one of the best ongoing sales is currently being held by IMPT.
Based on Ethereum, IMPTt is a carbon credit marketplace and eco-friendly shopping platform, enabling consumers to earn NFT-based carbon offsets via spending with retailers that partner with green initiatives. Its sale has made native token IMPT available at $0.018, and has so far raised over $5.9 million.
Given its fundamentals, there’s a very good chance that IMPT could rally significantly from its presale price once it lists on exchanges.
