Crypto Prices Going Down – Check Loopring And Dogeliens
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The market is down bad, crypto prices are going down, and they have been for over five months. As of 30th June 2022, the cryptocurrency market is worth a whopping $900 billion. This is the most challenging spot for anyone in crypto because the general sentiment is that the market is still heading downwards.
The entire landscape is dry, and the only thing printing money is the NFT market, which has insane daily trading volume, despite the market situation. Short traders are also trading along with the market and are making some decent profits. What should a random person who is crypto do?
Here we go, this sounds counter-intuitive, but it’s about zooming out on price charts and looking at the bigger picture. The bear market rally will end, and top cryptocurrencies will resume uptrends. You won’t want to be left on the sidelines when this happens, so you’d have to find a decent entry for cryptocurrencies with great upsides.
Loopring is a cryptocurrency at a significant discount, and Dogeliens is a new cryptocurrency you can buy at the lowest price possible. Let’s examine these cryptocurrencies and your potential to make money with them.
Going In Circles – Loopring(LRC)
Loopring(LRC) is a layer-2 ethereum protocol that allows anyone to create responsive DEXs, marketplaces, and other platforms. It was the first protocol to integrate Ethereum’s introduction of the zkRollup protocol and take the lead in creating second layer solutions. It provides many powerful tools, protocols, and infrastructures to help with DEX creation and operation.
Loopring was created to alleviate the market’s current problems. Scalability is one of the primary issues that Loopring addresses. Ethereum is currently experiencing unprecedented congestion. This network traffic has caused gas prices to skyrocket. The ethereum blockchain was built to increase fees based on congestion to reduce spam, but it didn’t see the influx of DeFi platforms coming, and now it’s not spamming that is spiking gas fees.
LRC solves many problems in the crypto space, including the regulatory burden on centralized exchanges. Governments have created a legal infrastructure for exchanges, making it harder for new centralized platforms to launch in the crypto market. Loopring is exhibiting the need for more DEXs.
Loopring solves ethereum scalability issues by pooling transactions off to another layer where they are processed faster and with lesser fees. It’s like carpooling with your friends and reducing your transport fare. LRC is an interesting solution because it is as secure as the ethereum blockchain as it is on the network by integrating zero-knowledge Rollups. It’s important to note that when alternative layer-1 ethereum solutions try to create seamless value exchange across both networks, the assets become less secure and could be exploited if someone figures out a vulnerability in the smart contract. We have seen that a lot of times in recent news.
The cryptocurrency market is also currently looking forward to what will become a layer-2 season when all layer-2 cryptocurrencies are pumping. It feels close seeing that Arbitrium, another layer-2 solution, is having an event, and there are rumours of an airdrop.
Final Frontier – Dogeliens (DOGET)
Dogeliens(DOGET) is a new cryptocurrency posing a perfect narrative for the present market condition. DOGET is a memecoin aiming to join the dog token family. Being inspired by the success of Dogecoin and Shiba Inu, Dogeliens is offering users an opportunity to enter the project at a lesser price.
And the narrative is beginning to shape up nicely. Dogeliens wants to refer to itself as the pup-pet master, including several other fun stuff and slang conjured up for the community. DOGET is going to feel like Dogecoin and Shiba in 2021. Low entry, fun community, exciting narrative, and a bear market rally– we’d have another memecoin season to send the whole cryptocurrency market into a bull market.
Dogeliens is a community-governed project and has added other utilities that were not the main concern of previous memecoins. Overall, it would be interesting to buy this cryptocurrency off presale.
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