With the dramatic increase in the number of cryptocurrencies being released every day, it can become overwhelmingly complex to distinguish promising projects from the crowd.
In this article, we will cover three interesting cryptocurrencies – two of which will be established, but with a notable catalyst on the horizon- there is an upcoming project that is currently undergoing a promising presale!
Ethereum (ETH) needs no introduction anymore. After a meteoric rise throughout 2020 and 2021, Ethereum established itself as the world’s leading smart contract platform and the 2nd largest cryptocurrency, with a 20% dominance over the total crypto market.
There is no debate regarding how much Ethereum has revolutionised the crypto space and contributed to the increasing adoption of blockchain technology within society.
Now, there remains room for improvement as the Ethereum network grows. It has been experiencing this influx in users as a double-edged sword. It has been increasing the price but slowing the system.
Indeed, since 2021 and with cryptocurrencies’ increasing popularity, Ethereum has been increasingly suffering from rising latency, slower transaction speed, and increasing gas fees. This peaked in May 2021, when gas fees for a single transaction could cost up to $70.
These emerging challenges have led an increasing number of investors to move away from Ethereum, instead favouring other Layer 1 or Layer 2 alternatives such as Binance Smart Chain (BSC), Solana (SOL), Avalanche (AVAX), or Polygon (MATIC).
However, Ethereum has announced in its 2022 roadmap the release of a 2.0 version of Ethereum, whose most significant benefit lies with Ethereum transitioning from its traditional Proof-of-Work (PoW) consensus mechanism to the faster, cheaper, and less energy-intensive Proof-of-Stake (PoS) one.
This much-awaited upgrade will dramatically increase Ethereum’s transaction speed and provide a renewed impetus for the project as a whole. Nevertheless, no schedule or exact dates have been announced yet regarding the release of Ethereum 2.0, leaving the crypto community wondering when it will actually go live.
While no one can assert for certain, it remains for certain that the release of Ethereum 2.0 will cause a surge in the price of ETH. For those willing to get exposure to this major catalyst, the best way to do that remains to hold some ETH in your wallet!
Aave (AAVE) is one of the leading decentralised finance (DeFi) lending protocols with a native utility token, AAVE.
Lending protocols have experienced a surge in popularity over recent years, as they facilitate access to lending and borrowing services, and allow users to easily generate passive income with relatively low risk.
Typically, lending protocols such as Aave allow populations with less access to basic financial services – due to things like, political instability or high inflation for example – to access highly-liquid crypto-backed loans in a matter of minutes.
As a result, Aave and other similar protocols have experienced massive success since their launch.
Users who are interested in lending their crypto-assets can head to Aave’s platform where they can rapidly deposit the desired assets in specific liquidity pools. These assets are then made available to borrow by other users and once they are used, lenders earn interest on them, just like a traditional financial institution.
Conversely, users who wish to borrow cryptocurrencies can do so on Aave’s platform and only need to deposit a collateral in order to become eligible for a loan – the amount required as collateral depends on the cryptocurrency that is being collateralised. No credit screening and lengthy identity checks like in the traditional system!
Aave has been able to streamline the lending process through an extremely easy-to-use and accessible platform – the success of this project comes as no surprise.
Now a blue-chip in the DeFi space, Aave sets high expectations for its future given the exponential growth of the space and its leading position.
The last project on this list, Mushe (XMU), is a promising initiative in the midst of its presale. Mushe’s native utility token, XMU, can currently be acquired for around $0.022, a notable uptick from its initial price of $0.005.
The XMU presale is currently in its 1st phase with 19 days until the presale is complete, and the Mushe team targets a price of $0.50 for XMU’s official market debut, indicating potential upside in the price of XMU before its public listing.
Following in the wake of Ripple (XRP) and Stellar (XLM), Mushe aims at integrating both fiat and cryptocurrency transactions by leveraging blockchain technology. Mushe ambitions to develop a complete ecosystem that will enable users to perform instantaneous transactions in both fiat and cryptocurrencies, and for near-zero costs.
For that purpose, Mushe developed a number of interconnected and complementary products: Mushe Wallet, Mushe Chat, Mushe Swap, and MusheVerse.
Most notable amongst these initiatives certainly is MusheVerse, which will be Mushe’s bellwether product. Based on Mushe’s whitepaper, MusheVerse will take the form of a digital network enabling users to send and receive money instantly anywhere in the world.
Additionally, users will be able to access a range of exclusive financial services on MusheVerse from investment planning, personal financing, banking, and others.
With its public listing coming up in 19 short days, Mushe is currently at a critical moment. For anyone curious about this project, additional information can be found on Mushe’s official website, found at the end of the article!
Learn more about Mushe: