After a brutal 2022, the crypto market is eagerly awaiting the next bull run, similar to the one that began in mid-2020 and lasted until late 2021. Although the initial months of 2023 have shown some signs of recovery, progress has been limited thus far. Consequently, many crypto experts have reached the conclusion that the next bull run will commence after Bitcoin halving, which is expected to occur in 2024. To make the most of the upcoming bull run now is the ideal time to strategize your investment.
In this article, we will delve into the past and present of three cryptocurrencies—Ethereum, Avalanche, and Caged Beasts —to provide you with an understanding of how these coins have been fiercely competing for DeFi supremacy.
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Ethereum: The Next Big Opportunity
Ethereum, the second-largest cryptocurrency, has made a significant impact since its launch in 2015. Developed by Russian computer programmer Vitalik Buterin, Ethereum quickly rose to prominence, becoming a leading player in the crypto market. Its native token, Ether (ETH), powers the Ethereum ecosystem.
One of Ethereum's notable features is its continuous innovation and adaptability. In response to environmental concerns, Ethereum transitioned from a proof-of-work to a proof-of-stake consensus mechanism, drastically reducing its energy consumption by 99%. This change also attracted new projects to build on the Ethereum blockchain.
A recent major update called "Shapella" introduced the ability to withdraw staked Ethereum, further enhancing its functionality. As of now, Ether is trading at $1,809, solidifying Ethereum's position as a top alternative to Bitcoin.
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With its technological advancements and ongoing developments, Ethereum is well-positioned to compete with emerging cryptocurrencies. As the next Bitcoin halving approaches, investors and crypto enthusiasts will likely turn to Ethereum for potential growth, which could lead to a bullish trend in its price.
Can Avalanche Outperform Ethereum?
In 2018, Ava Labs, a renowned blockchain company, unveiled its own blockchain known as Avalanche, releasing a white paper that outlined its vision. Two years later, the Avalanche mainnet went live, aiming to disrupt the dominance of the Ethereum network by providing superior scalability and cost solutions. Alongside the launch, Ava Labs introduced AVAX, its cryptocurrency, which quickly gained prominence in the crypto space.
Avalanche operates on a unique consensus protocol called Avalanche Consensus, enabling rapid transaction finality and near-instant confirmations. This innovative mechanism has propelled Avalanche into the spotlight, addressing scalability and congestion challenges faced by other networks.
This cutting-edge technology and innovative approach have contributed to the increased adoption of AVAX. Within a couple of years of its launch, AVAX reached its all-time high value of $146.22. However, like many other coins, AVAX experienced a bearish trend in 2022, causing its price to drop below $11. As of the time of writing, AVAX is trading at $14.37, with a market capitalization exceeding $4 billion.
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Recently, Avalanche announced a significant collaboration with Chinese business giant Alibaba. The layer-1 protocol will partner with Alibaba Cloud to build a cloudverse, a virtual space for businesses and brands.
This development has excited AVAX investors and enthusiasts, with expectations of attracting more investors to Avalanche as the bull run approaches, fueling substantial growth. Whether Avalanche can outperform Ethereum remains to be seen, as time will unveil the outcome of their competition.
Caged Beasts: Unleashing Crypto Fun
Caged Beasts ($BEASTS), unlike the previously discussed cryptocurrencies, brings a fresh and exciting perspective to the crypto world. As a new meme coin project, it offers a fun and enjoyable side of the cryptocurrency market. With an upcoming successful presale scheduled next month, now is an opportune time for investors to consider getting involved. Meme coin presales often present tokens at a lower price, creating a buzz for those seeking the next big meme coin.
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Caged Beasts symbolize the concept of Caged Liquidity, emphasizing transparently locked funds. The project aims to revolutionize the financial landscape by introducing a decentralized system that liberates investors from feeling confined. It operates as a community token, meaning investors can anticipate various competitions, events, bonuses, and engagement opportunities.
Moreover, Caged Beasts plans to venture into the world of non-fungible tokens (NFTs), adding another dimension to its offerings.
With its distinctive approach and focus on community engagement, Caged Beasts positions itself to capitalize on the upcoming bull run. By garnering attention and enthusiasm through its presale, ongoing events, and the introduction of NFTs, Caged Beasts aims to attract investors seeking an enjoyable and potentially rewarding investment experience.
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Website: https://cagedbeasts.com
Twitter: https://twitter.com/CAGED_BEASTS
Telegram: https://t.me/CAGEDBEASTS
