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- Insights
- Cryptocurrencies
- Stocks
- White Papers
- Industry
- Geography
In November 2021, the crypto market led by BTC, Ethereum, BNB Coin, and many other altcoins shot up to $3 trillion at the time $BTC hit an all-time high of nearly $70k. There were high fear (FDI) sentiments and FOMO in the crypto market at the time also. Afterward, Bitcoin began to normalise to price points below $60,000. What may not have occurred to many expert traders was that the crypto market would eventually continue the downtrend in what became the crypto winter of 2022.
Though the 2022 crypto winter was so bad that many top cryptocurrencies and protocols liquidated to nearly nothing, there were still many positives from the industry. A typical example of a worst-case scenario for 2022 was Terra Luna (LUNA) crash — a cryptocurrency launched and managed on the Terra blockchain by Terra Labs.
Luna's incident dragged the crypto market even more. Luna lost more than 99% of its value in the incident —dropping from $120 per unit value to less than $0.02. The incident caused the crypto market cap [at the time was trading around $1.24 trillion] to drop by more than 3%.
This article takes on the future of the crypto market after losing more than 66% of its total market cap to the winter, and a few coins that could lead the market to glory — Supontis, Ethereum, and HEX. Before that, let's look at the crypto market today.
The crypto market is becoming crazier by the day. Surprisingly more DeFi tokens came onboard despite the negative news that followed the crypto winter. The number of cryptocurrencies listed on CoinMarketCap increased from around 10,000 in January 2022 to more than 20,700 as of August the same year.
More DeFi tokens will be launched in the coming months and years, and the crypto market is never going short of cryptocurrencies. However, the situation at hand shows that many cryptocurrencies fail to fulfill the hype from their communities and become valueless or rug-pulled after they gain significant recognition.
This attitude in the crypto market makes it hard to find cryptocurrencies to trust. Furthermore, many crypto enthusiasts are bent on making just money from the crypto market neglecting the intrinsic value imbued in the crypto innovation such as crypto-as-a-payment systems, among other things.
The crypto market will continue to get crazier unless enthusiasts and communities realize there is more to cryptocurrency than just making monetary profits from it. The market will be easily swayed by trends and waves, and decisions of whales and influencers, unless decentralization completely takes its course and every hand stays on deck to make crypto internet money for all.
Crypto winter is characteristic of a bearish market that has lingered longer than many traders or analysts have predicted. It is a situation where crypto prices are going down en masse which causes panic sell-offs of crypto assets worldwide.
Crypto winters have been a huge part of the crypto market's history. In 2017, BTC rose to $18k, then continued a downtrend to below $3k in 2018. Later in 2020, a similar situation happened as BTC dropped below $5k.
The recent crypto winter of 2022 started after the massive sell-off of crypto holding after it hit a $3 trillion market cap in November 2021. BTC continued to drop from nearly $70k to $40k, then $30k, which lingered longer as uncertainty loomed in the market. BTC further broke the price range to drop further to below $25k, and finally less than $20k.
In the late weeks of July and early weeks of August 2022, BTC soared above $24k in what appeared to be positive news in the crypto market. However, the market lost more than 500 billion in less than 24 hours during this period of BTC dropped further to a price of around $21k.
Can the crypto market reclaim its $3 trillion market capitalization? What does the future hold for cryptocurrencies and the crypto market? Let's find out below.
One thing to realize about cryptocurrency is the fact that it is here to stay—there's no going back. Instead, innovations relevant to the crypto industry will keep emerging to normalize activities in the market. Developers are, however, betting on communities to maintain balance in their sentiments while buying or selling cryptocurrencies.
For the crypto market to reclaim its all-time high position, a lot of factors have to be considered. Some of which include:
Now we look at coins with high potential assuming the market sets to reclaim an all-time high position in the long-term.
The DeFi forerunner, Ethereum, remains one of the positives of 2022. The reason is that Ethereum successfully test-ran the upcoming parallel chain merge that could transition it from being a Proof of Work (PoW) network to full Proof of Stake (PoS) network and support staking and eco-friendly transaction processing.
Though Ethereum suffered setbacks following the crypto winter falling below, it is set on a path to attain higher price points. Ethereum is a top store of value because of its history in the DeFi space and its control of a large pool of utilities in the resources.
At the time of writing, Ethereum is 69% below its all-time high. ETH hodlers could reclaim huge holding assuming ETH reclaims its ATH position following the crypto market reset.
Hex Coin is a promising cryptocurrency and DeFi network set to explode with upcoming incorporations. Hex Coin will power the Hex Ecosystem which aims to reshape DeFi with its low fees and high staking interest rates and rewards.
HEX being a foundation of the network will be used for transactional and recreational purposes, especially after the launch of Pulsechain, its underlying layer-2 network. Like traditional banks, HEX is needed to issue a certificate of deposit (CD) after staking your tokens. This certificate will contain information on your interest rate calculated and compounded annually. You can earn up to 38% interest rates, and additional benefits by simply staking or saving on Hex.com.
Supontis is a BNB chain protocol that provides crypto traders with the essential resources and platform to get the best experience from DeFi. Supontis is powered by the Supontis Token — a BEP-20 token — that will be present during traders' interactions with Supontis.
Supontis will feature a cross-chain DEX and DAO governance protocol in which members will lock their tokens to make decisions on the protocol's future. Supontis Token (PON) will be launched via IDO after a presale scheduled to start at a price of $0.0056 per unit token. At this price, holders could expect at least a 1000x increase following IDO.
Furthermore, the presale comes with many bonuses that include an instant 6% bonus on signing up and making your first purchase using any of the top cryptocurrencies including BTC, ETH, and USDT. Also, you receive $50 or more when your friend deposits at least $200 for their first purchase. These bonuses stack the more your referrals buy Supontis Token (PON).
Presale: https://register.supontis.com
Website: http://supontis.com/
Telegram: https://t.me/SupontisTokenOfficial
