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May has been a brutal month for the crypto asset class. Galloping inflation, geopolitical uncertainty with the war in Ukraine, and the death of Luna. It seems inevitable that a global recession is coming as the confidence of market participants crumbles, but the brilliant news for investors is that this current period offers the greatest point of financial opportunity. The entire world makes money during a bull market, but a bear market is where people get rich.
Featured in this article are 3 must-have crypto picks for May to bolster any investor's portfolio.
Cardano (ADA)
Cardano is the brainchild of Charles Hoskinson one of the cofounders of Ethereum. It is a Layer 1 protocol utilising the proof-of-stake (PoS) consensus mechanism and following the launch of the Alonzo upgrade has smart contract capability. ADA is the native token of the Cardano network.
Cardano is the 8th largest crypto by market cap which currently stands just north of $18 billion. Launched in 2017 it has become one of the 'blue chip' cryptos which have already weathered prior market cycles.
Cardano was born primarily to solve problems of scalability, interoperability, and sustainability. And has famously taken an incredibly logical and mathematical process towards its development in contract to the majority of other Layer 1s who have launched first and cleaned up afterward, often known as the 'move fast and break things' approach. Cardano continues to add more than 2,000 wallets daily despite current market volatility, an incredibly bullish indicator.
ADA has seen its price retrace by 40% this month and is down more than 85% from its All-Time High (ATH) of $3.10 in September 2021.
Tron (TRX)
Tron is a smart contract compatible, decentralised, layer 1 blockchain. The native token is Tronix (TRX). Tron is a content sharing blockchain platform designed to remove the intermediary between content and consumers.
It has a staggering TPS (Transactions Per Second) of 2000 and is aimed at decentralising the internet with over 93 million users on the blockchain.
TRX defies the market trend, up 20% from the start of May, showcasing investor confidence in the project. Down 60% from its All-Time High (ATH) of $0.3 in April 2021.
Gnox (GNOX)
The most exciting of these three projects is Gnox. It is the first defi earning protocol to offer yield farming as a service to private and institutional investors. The protocol runs on the Binance Smart Chain (BSC) and will make DeFi accessible to all.
Gnox is a reflection protocol built around providing passive income for its token holders. It utilises buy and sell taxes to build a treasury fund. This treasury fund is used in DeFi yield earning protocols and the rewards are distributed to token owners.
The first treasury fund that works on behalf of investors. With its first-mover, advantage Gnox has generated a huge amount of media attention and hype from the crypto community and is currently available for presale. The token launching in Q3 of 2022 now represents a brilliant buying opportunity. The community is excited and understandably so with the release of a token that will provide passive income to its investors regardless of market conditions.
Find Out More Here:
Join Presale: https://presale.gnox.io/register
Website: https://Gnox.io
Telegram: https://t.me/gnoxfinancial
Twitter: https://twitter.com/gnox_io
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
