The cryptocurrency market isn’t something you should approach thoughtlessly, especially now during the crypto winter. It’s fair to say that many of us have earned a lot on crypto and lost perhaps even more. But don’t judge yourself harshly - this is the way of any crypto enthusiast. The worst is yet to come before we reach another ATH.
The end is near
The crypto market is going through hard times. Bitcoin has already fallen in price by 75% from its ATH and may fall even lower. Altcoins declined by 95% or more! Of course, the correction also struck NFTs. Many collections have depreciated entirely and will never return to previous highs. For example, the NFT dubbed Azuki Bumblebee which Logan Paul purchased and sponsored has dipped from $623,000 to $10! Even such prominent collections as CryptoPunks cannot withstand the pressure with one NFT worth $1 million at the start was sold for $139,000 just 6 months later!
The same goes for Play-to-Earn. The GameFi industry flagship Axie Infinity has fallen by 95% in less than a year, and their in-game token SLP has depreciated almost by a whopping 99.2%! The Sandbox - one of the most popular metaverses with user-generated content - also declined by 90%. The Crypto winter takes no prisoners.
Most of the fundamental projects affecting the crypto industry today are encountering staggering losses! Solana and Avalanche are both down 90%! Their founders are people who have lost millions of dollars, companies, and teams more than once. But here's the thing, the concept of bankruptcy did not scare them, because this is the path of a real crypto enthusiast.
The basis of crypto is experimentation and research. By investing in new projects and helping them develop, you, as a participant in the global process, are witnessing the creation of something unique and innovative. Ultimately, any startup can grow and bring huge dividends, or die over time; the risks are always there. But such an outcome cannot be called negative. Everyone knows how generous a bull market is. The main thing is to participate in all processes and experiment in as many directions as possible.
Let's look at a few examples:
- Polygon - The project created a Layer 2 technology for scaling Ethereum and didn’t arouse much interest from the crypto community for 2 years. After a while, it received a massive adoption, and the MATIC token rose in price by 29,000% but today has fallen by 68%, which is even less than BTC.
- STEPN - The project became the Move-to-Earn ancestor using NFT technology. Thanks to STEPN, many original projects have appeared combining real-life activity with blockchain.
- OpenSea - The project started later than some NFTs, but thanks to its transparency and work on Web.3.0 technologies, it became the NFT market leader.
NiftyPlanet is yet another original project thriving despite the crypto winter. The team took advantage of Web 3.0 and NFT technologies while actively experimenting with creators and companies that seek to enter the new market. You can also support the platform by purchasing some NFPL tokens on PancakeSwap.
NiftyPlanet is open to promising proposals and is happy to join forces to realize the ambitious ideas of its customers and partners. Only joint efforts can bring results in the current conditions.
The exponential growth of the NFT and Web 3.0 will soon begin. Technology will be introduced into many areas of life. If you have original ideas and want to participate in this inevitable process:
A new rise will come
Crypto winter has been going on for a year now and there will be no significant drops. 2023 could be a turning point for the entire market. Therefore, feel free to start something new, because now is the best time for this. It's much worse to remain an observer and miss all the future growth of the crypto market. Join forces with NiftyPlanet and become a participant in the blockchain world's development.