THORChain, Loopring and Klangaverse Introduction
The crypto market is facing yet another bearish period, and it’s not the first time the market crashed this year. Several questions have been raised regarding the credibility of crypto coins, especially the prominent ones. However, this bearish run also provided a golden opportunity for intended crypto buyers to purchase top-tier cryptocurrencies at insanely low prices. In this article, we’ll suggest some cryptocurrencies that you should buy in the current bearish market. Starting with THORChain (RUNE), a well-established cryptocurrency currently ranked among the top 100 cryptocurrencies globally.
THORChain (RUNE) is a decentralized, chain-agnostic liquidity network that enables users to quickly trade assets at operational-friendly market prices. It allows users to bet assets and earn transaction fees using an unauthorized cross-chain liquidity pool. Traders can monitor pool prices and profits by trading back to fair market prices. The project can bet finance to provide liquidity to the tokens. RUNE is a native asset of the THORChain ecosystem. It is used for governance, staking, binding, rewards, and transactions.
THORChain (RUNE) aims to be a cross-chain solution for seamlessly exchanging any asset, regardless of the native blockchain. In addition, the user has full control over the asset during the transaction. THORChain’s (RUNE) users can trade with BTC, ETH, LTC, BCH, and BNB, and these tokens can be traded between various blockchains via the platform’s native token, RUNE.
A common problem faced by DEX is to gain sufficient liquidity. Ideally, traders want to use a platform that doesn’t suffer from slippage. However, these same traders first try to provide enough liquidity to avoid high slippage. That’s why THORChain’s (RUNE) team aims to use an updated variant of Bancor’s “smart tokens” to build what’s called the Continuous Liquidity Pool (CLP).
Loopring (LRC) is an open layer 2 protocol on Ethereum (ETH) for scalable unmanaged transactions. The Loopring (LRC) Protocol features smart contracts and zero-knowledge proof circuits, allowing high-performance decentralized exchanges (DEXs) to build zero-knowledge rollup (ZK-Rollup) structures at the expense of Ethereum-level security assurance. Its holders can bet their tokens to generate protocol fees, and DEX can use them as bonds to follow the protocol definition behavior.
Loopring (LRC) is an Ethereum-based decentralized exchange protocol that is an “automatic execution system” that allows users to trade assets between exchanges. It is not a decentralized exchange but supports transactions in a decentralized environment through ring sharing and order matching. The Loopring (LRC) aggregates all orders sent to the network and processes orders using purchase orders from multiple exchanges.
Klangaverse (KLG) is taking steps to provide a complete solution to the issues faced by different artists. It is a fully decentralized music streaming protocol built on BinanceSmartChain (BSC) with public blockchain infrastructure and other decentralized technologies. Klangaverse (KLG) allows artists to create and distribute music in NFT format, where fans pay directly to the wallet. At the time of writing, the Klangaverse (KLG) ecosystem is decentralized and aims to grow to a target of 300,000 community members, artists and developers by the end of the year. Its team is made up of skilled developers with experience working for large and small companies, they know what they’re doing and have a solid understanding of fintech.
It’s no secret that most artists make ridiculous amounts of money compared to what streaming platforms produce. Klangaverse (KLG) is changing things here because of this. As a result of this project, artists will have the opportunity to grow their fan base, earn money for themselves, eliminate intermediaries, have fun, and be appreciated by their communities.
Both THORChain (RUNE) and Loopring (LRC) are prominent cryptocurrencies that have lost more than 35% of their market value in the recent crypto crash. It is a wonderful opportunity to buy these cryptocurrencies as they’ll be retaining their value back any time soon. Klangaverse (KLG) is an upcoming cryptocurrency that doesn’t have any relation with the current bearish market, although it possesses some unique usability features which will make it a must-have crypto coin to buy in the current circumstances.