The bear market of 2022 has seen some unprecedented price slashes in crypto projects. These are reflective of the current market conditions but it presents buyers with an opportunity. Many good projects are trading at a discount and one can buy the dip. It is the aim of every trader to maximise their profits and the bear market presents the perfect opportunity to do so. Although it can be very tempting to scoop up random projects in hope that they moon, buyers are advised to conduct research before aping into any projects.
To survive the bear market, traders need to buy solid projects that would ride out the bear market. Frax (FRAX), BinaryX (BNX) and RoboApe (RBA) are three projects that traders should be watching closely. They are poised to reach insane heights when the market sentiments turn. Here is a brief breakdown of these three projects.
Frax (FRAX) is a fractional-algorithmic stablecoin. It maintains its peg to the USD Dollar using a mixture of crypto assets and an algorithm. Frax is built on the Ethereum blockchain and the FRAX token uses the ERC-20 token standard. It plans to increase its access by migrating to other blockchains in the coming months. FRAX is the first fractional-algorithmic stablecoin in crypto. It has created a new category among the previous three categories of stablecoins: Fiat backed, Algorithmic and Over collateralized.
Frax uses crypto collaterals and its unique algorithm to maintain its peg to the dollar. The Frax protocol runs a DAO using the FXS token for governance. The project is designed to run with as little interference as possible. Frax offers its holders a way to protect their assets from the current volatility that is being experienced.
BinaryX (BNX) is a crypto gaming project built on the Binance Smart Chain (BSC). The project started out as a derivatives trading platform but it pivoted to crypto gaming. The game is a MMORPG with DEFI elements called CyberDragon. The game centres around defeating the Cyber Dragon after surpassing various obstacles on your way to the dragon. Game items and attributes are NFTs that users can trade, swap and sell these items as they please.
The BinaryX project aims to build an intuitive and immersive gaming experience for users. Furthermore, it would allow these users to experience truly decentralised gameplay using the power of the blockchain. There is a wide range of characters for users to choose from and they each have their unique special attributes. The BNX token is used for transactional purposes within the game and it is built on the BEP-20 token standard of the Binance Smart Chain. Crypto gaming is one sector that continues to gather steam regardless of the bear market sentiments making this project one to watch.
RoboApe (RBA) is a social token that aims to create value for old and new crypto enthusiasts alike. It would teach and educate crypto newbies through its RoboApe Academy. In addition, its DAO would fund crypto education for newbies and pair them with the right mentors. Furthermore, it would organise and host charity events for causes supported by the RoboApe community. The proceeds from these events would be donated to selected charities approved by the DAO.
RoboApe would create merch which would help to serve as an identity for its community. It would promote a sense of community among its members and enable them to form bonds offline. The RBA token will be at the centre of this project and users would be able to swap, buy and sell this token as they please. To join this project, check out the official links below.
Read more: RoboApe (RBA) Could Provide Better Returns Than Chainlink (LINK) or Sandbox (SAND) in 2022
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