In 2022, FTX Token (FTT), Shiba Inu (SHIB), and FIREPIN (FRPN) may offer a greater rate of return to investors than Bitcoin (BTC) and Ethereum (ETH). This is because more well-known cryptocurrencies have already had large price gains and have established themselves, making further exponential growth unlikely.
With so many cryptocurrencies being created this year, it's difficult to know which ones will have the greatest promise. Historical evidence, on the other hand, shows that investing early in cryptos with strong foundations and usefulness yields exponential returns. So, let's have a look at which cryptocurrencies are the most promising this month.
FTX Token (FTT)
FTT is a new cryptocurrency token native to FTX, a crypto derivatives trading platform that began operations in May 2019. The tagline of the FTX platform is that it is a cryptocurrency exchange developed for traders by traders. Volatility commodities, options, and leveraged tokens are among the innovative products offered by FTX. FTX is working to provide a robust platform for professional trading organizations that is yet simple enough for novices to use.
Clawback protection, a controlled collateral pool, and global stable coin settlement are among the characteristics that FTX believes set it apart. Because socialized losses have claimed a considerable number of consumers on other derivative exchanges, clawback protection is a beneficial feature that protects users. FTX, on the other hand, uses a three-tiered liquidation scheme to dilute this.
Shiba Inu (SHIB)
Shiba Inu (SHIB) was founded in August 2020 with a large supply of tokens thanks to an unknown developer known only as Ryoshi. It is the 15th most valuable cryptocurrency in the coin market and is also known as the meme cryptocurrency. Shiba Inu has received over 7000 new owners since the beginning of May. Unlike Bitcoin, SHIB is not scarce and thinks that the community should be responsible for completing the entire cycle. It is considered an alternative to Dogecoin (DOGE), another rival, and both have a one quadrillion coin circulation supply. The Ethereum blockchain is also compatible with SHIB.
FIREPIN is a Metaverse DAO-backed decentralized protocol. Decentralized Autonomous Organizations (DAO) are scattered across several computers, networks, and nodes and are not owned by a centralized organization, such as a country's central bank. As a result, virtual currencies generally take advantage of their decentralized structure to attain degrees of anonymity and security that conventional currencies and transactions generally lack.
DAOs are a type of "democratic token" designed to build and strengthen a community of token holders with voting power proportional to the number of tokens they own. This implies that FIREPIN (FRPN) decisions will be made only after holders have voted on ideas. The majority vote will then make decisions.
Funds raised through the Metaverse DAO will be used to create NFT games, 3D and Metaverse VR games, as well as invest directly in teams and organizations with a long-term vision for Metaverse gaming and P2E. In a world where cryptocurrencies are advancing at a rapid speed, investing early can yield big returns on a tiny initial investment. The most current and greatest chance to get in on the ground floor of the next gold rush may be FIREPIN.
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