The crypto space is riddled with promising projects that have the potential to change the financial system and society for the better, but how to find them?
Analyzing the crypto market can be a daunting task, particularly to those who are new to the field, between the technical jargon and all these complicated metrics.
This article will present three such promising projects that have the potential to revolutionize the crypto space in the future – one of these, Mushe (XMU), is currently in the first stage of its presale.
Solana (SOL)
Solana (SOL) is one of the most popular Layer 1 (L1) projects of the moment. Although it has faced multiple roadblocks in the shape of hacks and other online attacks, Solana has managed to maintain its position as a top 10 cryptocurrency.
Solana gained notoriety as an “Ethereum killer”, owing to its network’s ability to process transactions at lightning speeds for pennies. In fact, Solana’s network can execute up to 65,000 transactions per second (TPS), compared to Ethereum’s throughput of about 15 TPS; data speaks for itself!
Solana’s native cryptocurrency, SOL, has risen over 5% in the last day, now trading around $92.00. For those seeking exposure to Solana’s explosive performance and strong growth prospects, investing in SOL might just be the ideal and most direct way to do that.
Now, the general sentiment amongst crypto market analysts is that, due to the project’s popularity, SOL is now trading in overvalued territory, history shows that investors are not necessarily worried about chasing SOL at these levels, which can maintain SOL in overvalued territory over prolonged periods.
However, over the past two weeks, SOL has been trending lower, which might be a cautious opportunity for investors to start building their position. It remains that investors must remain wary of entering a euphoric market, although SOL remains a wonderful cryptocurrency to own for the long term.
For now, Solana’s greatest challenge resides in properly securing its network and defending it from future attacks in the coming months. Nevertheless, Solana has proven its resilience by surviving major attacks while other projects would have collapsed, making it a watchlist essential!
Synthetix (SNX)
Synthetix (SNX) is another lesser-known Ethereum-based protocol that will undoubtedly pick your interest if you don’t know it already.
In essence, Synthetix is a decentralised liquidity protocol that enables investors to access so-called “synthetic assets”, which can be defined as a type of derivative that acts as a reflection of traditional assets such as stocks or bonds.
This is enabled by a specific type of data-tracking smart contracts called oracles, which continually monitor the progress of a specific underlying asset. Synthetic assets are therefore a game-changing asset class that allows investors to invest in real-world assets without directly owning the underlying asset.
For instance, assume that you wish to purchase shares of Apple but can’t because you somehow do not have access to brokerage services. Synthetix solves this problem by allowing you to purchase a synthetic, blockchain-based version of Apple shares – you don’t even need to hold the actual Apple shares at all!
In order to do that, you will simply have to lock a pre-specified amount of SNX tokens, the Synthetix native currency, in order to mint and buy the desired synthetic asset.
On-chain derivatives such as synthetic assets remain relatively unknown or misunderstood by the general public and are expected to grow at an exponential rate in the future. SNX can be an excellent investment for investors seeking exposure to this emerging field.
Mushe (XMU)
Mushe (XMU) is another project full of ambition that is currently in launching mode.
Its native token, XMU, is currently priced at roughly $0.022, a noticeable increase from its initial price of $0.005. However, the Mushe development team set the ambitious goal of reaching a listing price of $0.50 for XMU official launch.
Mushe is a project built upon the ideal of an environment that would harmoniously combine both fiat and cryptocurrency transactions, and create a more interconnected financial system.
Similar to other leading giants like Ripple (XRP) or Stellar (XLM), Mushe will leverage blockchain technology to create an innovative network that will enable near-instant transactions in any currency, fiat or crypto, and at a minimal cost.
To fulfil this ambitious project, Mushe is developing a line of products with the goal of having an all-in-one, user-friendly final platform. These products will include the Mushe Wallet, Mushe Chat, Mushe Swap, and MusheVerse.
Mushe Wallet and Mushe Swap will respectively be the Mushe ecosystem’s built-in crypto wallet and decentralised exchange (DEX), allowing users to navigate the ecosystem easily and access any cryptocurrency or token they need for their transactions.
Aside from that, Mushe will be developing the MusheVerse, its overarching product which will enable users to actually perform transactions and move money seamlessly. MusheVerse will not only act as a payment network, but also provide users with access to specific financial services such as personal banking, household finances, long-term investments, and others.
These initiatives set high expectations for Mushe’s market launch, you can access the project’s official website, linked below, for more information about it and its presale.
Learn more about Mushe:
Website: https://www.mushe.world/
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