Last week saw some blood on the streets in the crypto market after some currencies lost value and a few special ones such as Vechain recorded improvements. The general market was down an average of 15%, with some leading cryptocurrencies like Waves (WAVES) seeing their price cut in half in a few days.
It is during these unstable times that investors can hunt for discounted bargains that have been oversold by panicking individuals and temporarily mispriced by the market.
This article will cover three interesting projects which seem to be trading at attractive valuations currently, you might find some of them worthy to be added to your watchlist!
VeChain (VET) is a blockchain platform that aims to improve supply chain management worldwide. Notably, the VeChain network enables customers to get information about the legitimacy and quality of products bought on VeChain-based platforms.
VeChain does away with the need for trust between people in the traditional supply chain and instead puts in place automated, trustless smart contracts, deemed more secure and efficient when it comes to supply chain management and optimisation.
VeChain’s distinctive feature compared to other similar projects is the fact that it focuses entirely on supply chain optimisation and data tracking, making its network one of the most efficient and competitive in the industry.
Besides, the VeChain network uses the Proof-of-Stake consensus mechanism, which is significantly faster and less energy-intensive than the increasingly-criticised and high-intensity Proof-of-Work consensus mechanism, currently used by Bitcoin (BTC) and Ethereum (ETH). This enables the VeChain network to achieve greater speed and efficiency, and compete with large established projects.
As supply networks are bound to become more entangled and global in the years and decades to come, VeChain’s token, VET, appears as a great investment that has been trading at a relatively low valuation over the past months. VET’s most recent drop could be a great deal for long-term investors!
STEPN (GMT) is a recent lifestyle and fitness-focused project that has launched last March and was received with great enthusiasm from the crypto community following its market entry.
“Web3 lifestyle app”, that is what STEPN describes itself as, and it’s all about gamifying exercise and rewarding users for their physical effort. Users who join the STEPN platform can mint NFTs in the form of sneakers that can then be used to walk around, jog, sprint, and so on. Users are then rewarded by the STEPN platform for this activity with STEPN’s cryptocurrency, Green Metaverse Token, or GMT.
STEPN isn’t the first project of its kind, but it is one of the first to use blockchain technology in order to monetise physical effort, which may have contributed to its explosive market launch.
Moreover, STEPN’s Green Metaverse Token represents a clear statement about the project’s commitment to sustainability, following the numerous criticisms surrounding certain cryptocurrencies’ energy consumption and environmental impact.
Since its launch on the market roughly a month ago, GMT has surged more than 1,500 percent, and over 30% in the last 24 hours alone, reaching a fresh all-time high of $3.69 at this very moment. Just a week ago, GMT was trading around $2.20, indicating this project’s popularity.
Although you may have missed a chunk of GMT’s explosive and unexpected rise, the cryptocurrency remains a promising one for the future and its recency may suggest that there is still room for more upward movement for GMT!
Pac-Man Frog (PAC)
Pac-Man Frog (PAC) is one of the newest animal-themed coins and is now in the first phase of its presale round before its official market launch.
Pac-Man Frog will be Solana-native. Solana (SOL) is still one of the fastest blockchains out there, able to process up to 65,000 transactions per second (TPS) for less than a cent. Even well-known blockchains like Ethereum can’t keep up with Solana’s speed, making this network a choice that sets high expectations for the future of Pac-Man Frog.
Pac-Man Frog ambitions to create a community-centric ecosystem that will connect individuals directly with one another, without the need for third parties to intervene. This ecosystem will essentially focus on NFTs and game development, and will notably include an NFT launchpad and aggregator, a game incubator, and an ultrafast gaming-finance (GameFi) NFT marketplace.
Pac-Man Frog’s long-term vision is to become a kind of decentralized venture capital (VC) fund that will connect individuals, pool funds, and invest in promising NFT and game development startups.
You can access Pac-Man Frog’s whitepaper on its official website, linked below. PAC will enter the market within the next few weeks, keep an eye out for it!