The post Crypto Prices Continue to Fall, Could ICO Tokens Provide a Safe Haven? appeared first on Coinpedia Fintech News
Crypto is at a huge loss today, with over $300 billion wiped off its market cap overnight. But in these struggling times, traders are finding shelter in ICO tokens.
Crypto Prices Plunge as Global Macroeconomics Worsen
A slew of devastating macroeconomic effects has swept the financial markets globally.
The bearish momentum kicked off when the U.S. labour market report unexpectedly revealed that unemployment rose from 4.1% to 4.3% in July.
Jitters kicked in immediately, but this was just the beginning. As the Asian stock markets opened for trading on Monday, unprecedented selling pressure occurred. Japan and Taiwan were among the worst affected, suffering 12.4% and 8% sell-offs, respectively.
And with the NASDAQ opening soon, things could go from bad to worse.
However, rumours are circulating that the Federal Reserve will step in and cut interest rates.
That’s provided some much-needed relief to the crypto market, with Bitcoin bouncing from lows of $48K to over $52K.
Yet, as the general crypto market struggles, it’s business as usual for ICOs.
These early-stage cryptos are sheltered from the broader market performance, with the presales taking place at fixed prices.
Their pre-market valuations are usually significantly lower than their post-exchange launch prices, providing investors with earning opportunities, even amid a widespread crash.
5 ICOs That Could Defy the Bear Market
Let’s look at the five that show the most potential right now.
Pepe Unchained
Pepe Unchained is the ICO with the most potential. This Pepe-themed token is a lot more than your average meme coin. It is building an Ethereum layer 2 blockchain, which will house meme coin-related dApps.
So, while it benefits from the viral allure of meme coins, it also has market-leading utility.
And the layer 2 narrative just keeps gaining strength.
In a tweet posted this hour, Ethereum Founder Vitalik Buterin hinted that cross-chain L2 interoperability is coming soon. This would make moving funds onto the Pepe Unchained network a breeze, which is a big boon for early $PEPU investors.
Today, investors can buy Pepe Unchained at presale for $0.008875, but this price will rise throughout the campaign.
The next increase will occur later today.
So far, the presale has raised over $7.3 million, signalling big support from investors.
PlayDoge
PlayDoge is the next token on our list. Like Pepe Unchained, it’s a meme coin with groundbreaking utility. But this project is tackling the high-octane Play-to-Earn (P2E) sector instead. P2E has proved to be one of crypto’s most lucrative use cases this year. Market leader Hamster Kombat garnered 200 million users in 81 days. It’s the first time crypto has seen real mass adoption.
But PlayDoge is next with its Tamagotchi-inspired game, which will be available on the App Store and Google Play Store.
Tamagotchi is a pet companion game where users care for a virtual pet, ensuring it is fed, rested, and entertained. It sold a whopping 82 million units in the 1990s, presenting a big market for PlayDoge to tap into. Moreover, PlayDoge adopts a dogecoin-styled 8-bit pet.
This digs into the meme coin side of things, making $PLAY more appealing to the broader crypto market. The presale has raised over $5.9 million so far.
99Bitcoins Token
Imagine getting paid to learn about cryptocurrency.
That will soon be a reality with 99Bitcoins token.
The new project, launched by the prestigious 99Bitcoins media outlet, plans to create a novel Learn-to-Earn platform. 99Bitcoins launched in 2013 and boasts a vast news site audience, alongside 700K YouTube subscribers and 2.8 million email subscribers.
Users can complete courses, modules, and quizzes to earn XP points. These XP points push them up the project’s leaderboard, making them eligible to earn more $PLAY.
$PLAY also has utilities like staking, a VIP community group, trading signals, and more. However, it’s the last day to buy the $99BTC ICO.
The total raised recently crossed $2.6 million as investors continue to purchase despite the ongoing market turmoil. That’s a big sign of strength and lays the way for gains on the 99Bitcoins token exchange launch.
Visit 99Bitcoins Token Presale
Base Dawgz
Next on our list is Base Dawgz.
What’s unique about this project is its multichain functionality. It calls the Base network its home, but it is also available on Ethereum, Solana, BSC, and Avalanche.
Typically, meme coin growth happens one chain at a time. For instance, Ethereum meme coins might rise one week, and the next it will be Solana’s. But Base Dawgz could continue rising no matter where the attention is directed.
And here’s something else:
Base Dawgz has multiple utilities that help drive demand. Not least is its staking mechanism, which offers a jaw-dropping APY of 963%.
There’s also a “refer-and-earn” scheme, which rewards users for referring others to the presale.
Users can generate a referral link and share it with friends. They’ll earn points for each successful referral, which makes them eligible for a $DAWGZ airdrop. The Base Dawgz ICO has raised $2.8 million so far.
Shiba Shootout
If you’re looking for a culture coin that encapsulates the spirit of crypto, it’s Shiba Shootout. Carrying a “Wild West” theme, Shiba Shootout hilariously reflects crypto’s juncture at the forefront of technological innovation.
And in that light, Shiba Shootout is pushing the boundaries of what’s possible with meme coins.
First off, the project has already launched a Play-to-Earn game on the App Store and Google Play Store. Imagine that, getting to invest in an ICO that already has a working product.
It’s no wonder Shiba Shootout is becoming a fan favourite. But that’s not the only reason.
The team is also building staking, a lottery, on-chain governance, and much more. So far, the Shiba Shootout presale has raised $870K. Investors can still get in early, but momentum is ramping up.