Nonetheless, he said that the Russia-Ukraine war is “giving rise to crypto as a safer haven than government fake fiat money.”
To help out any crypto investor, here are the three best crypto picks for May. The crypto asset class has had a tough time this month.
With the death of Luna and the war in Ukraine, many are wondering what this will mean for international relations and fluctuations in the global economy. Inflation has been much more visible in recent months, and with uncertainty looming, prices have not been dropping.
It may seem like a worldwide recession is around the corner, but don’t worry! The good news is that there’s never been a better time for investors to sign up. The market participants are becoming less confident, which means you can buy stocks at lower prices and still see an outcome of profit.
People get rich in bear markets, not bull markets. This article features 3 of our favorite crypto picks for May. Give them a try if you want to take your cryptocurrency investments to the next level!
Cardano (ADA)
Cardano is the brainchild of Charles Hoskinson, one of the cofounders of Ethereum. It is a Layer 1 protocol with PoS consensus, which could be upgraded to have innovative contract capability. This, in turn, follows the launch of the Alonzo upgrade.
ADA is the native token of the Cardano network. It supplies the fuel that powers intelligent contract execution. Cardano is the 8th largest crypto by market capitalization at $18 billion.
Launched in 2017, it has successfully become one of the blue-chip cryptocurrencies that have already weathered prior cycles. Cardano was built to solve the problem of scalability, interoperability, and sustainability.
And has famously taken an incredibly logical and mathematical process towards its development in contract to most other Layer 1s who have launched first and cleaned up afterward, often known as the ‘move fast and break things’ approach. Cardano continues to add more than 2,000 wallets daily despite current market volatility, an incredibly bullish indicator.
ADA has seen its price retrace by 40% this month and is down more than 85% from its All-Time High (ATH) of $3.10 in September 2021
Tron (TRX)
Tron is a smart contract compatible, decentralised, layer one blockchain. The native token is Tronix (TRX)
Tron is a content-sharing blockchain platform designed to remove the intermediary between content and consumers. It has a staggering TPS (Transactions Per Second) of 2000 and is aimed at decentralising the internet with over 93 million users on the blockchain.
TRX defies the market trend, up 20% from the start of May, showcasing investor confidence in the project. Down 60% from its All-Time High (ATH) of $0.3 in April 2021
Gnox (GNOX)
The most exciting of these three projects is Gnox. It is the first defi earning protocol to offer yield farming as a service to private and institutional investors.
The protocol runs on the Binance Smart Chain (BSC) and will make DeFi accessible. Gnox is a reflection protocol built around providing passive income for its token holders.
It utilizes buy and sell taxes to build a treasury fund. This treasury fund is used in DeFi yield-earning protocols, and the rewards are distributed to token owners.
The first treasury fund that works on behalf of investors. With its first-mover advantage Gnox has generated a tremendous amount of media attention and hype from the crypto community and is currently available for presale.
The token launching in Q3 of 2022 now represents a brilliant buying opportunity. The community is excited and understandably so with the release of a token that will provide passive income to its investors regardless of market conditions.
Also read: Ethereum’s price is falling, when will it make a breakthrough?