Load Up On These 3 Hammered Cryptocurrencies: Uniswap (UNI), NEAR Protocol (NEAR), Quitriam Finance (QTM)
It seems that the crypto market is up for another bumpy week.
As Terra USD (UST) still hasn’t recovered its USD parity and LUNA seems doomed to a certain death, the market continues to experience high volatility and unpredictable price movements.
In this context, let’s have a look at which cryptocurrencies remain promising and can be acquired at a discounted price. We will also present Quitriam Finance (QTM), a new project in its presale.
Uniswap (UNI) is one of the largest decentralised automated market makers (AMM) to date, with nearly $6 billion in total value locked (TVL) across its ecosystem, a significant figure given the sharp selloff experienced by the overall crypto market since last week.
Uniswap serves as a liquidity protocol and decentralised exchange (DEX), providing sufficient liquidity to allow investors to experience smooth trading conditions at any given time. Protocols like Uniswap are especially crucial as the DeFi space often suffers from insufficient liquidity, hampering trading as a whole.
Uniswap was originally built on Ethereum (ETH) but migrated to Polygon (MATIC) last December in an attempt to increase its multichain presence and improve user experience following Ethereum’s increasing congestion and gas fees.
Uniswap’s migration to the Polygon network was welcomed by the crypto community due to its blue-chip status in the DeFi field. Uniswap is now well en route to challenge Polygon’s leading DEXs, namely QuickSwap (QUICK) and SushiSwap (SUSHI).
UNI, Uniswap's native ERC-20 token, recently fell below the symbolic $5 mark and is now trading near all-time lows. However, Uniswap as a project remains as promising as before, suggesting that UNI may have been oversold following last week’s panic selloff.
NEAR Protocol (NEAR)
Ranking 21st in the list of largest cryptocurrencies, NEAR Protocol (NEAR) is a project with great potential. Albeit the ongoing crypto crash, NEAR Protocol has been standing its ground, still boasting a market cap of over $4.5 billion.
NEAR Protocol developed its own Layer 1 (L1) network and leverages a mechanism called "sharding”, which divides a blockchain into smaller “shards” which can then evolve independently and manage their own data, allowing the overall network to function more efficiently and maintain its speed despite an increase in users.
NEAR Protocol notably developed a leading sharding technology dubbed “Nightshade” which allows its network to process an astonishing 100,000 transactions per second (TPS), making it one of the fastest blockchains currently on the market.
This makes NEAR Protocol yet another member of the “Ethereum killer” community, which notably gathers such names as BNB Chain (BNB), Cardano (ADA), Solana (SOL), Polkadot (SOL), and several others.
To top it all off, the total supply of NEAR tokens is finite, capped at 1 billion units. This makes NEAR a deflationary asset, an ideal characteristic in today’s context of sky-high inflation rates.
NEAR is trading at $6.65 at press time, a substantial discount from just a week ago. Given NEAR Protocol’s promising features, now could be a good time to acquire some NEAR tokens at an attractive valuation.
Quitriam Finance (QTM)
Quitriam Finance (QTM) is a new project currently holding a presale for its native utility token, QTM, which is scheduled to be listed publicly around early July.
QTM can currently be acquired for exactly $0.000023, up around 40% from its phase 1 price of $0.000016.
QTM token holders will benefit from voting rights and influence over the project’s evolution over time by participating in community votes, submitting improvement proposals, and having a say in board discussions.
Aside from that, Quitriam Finance has ambitions to provide staking options to its users in order to create opportunities for passive income generation, something which the crypto community always has a sweet tooth for.
This would work like any traditional staking mechanism, allowing users to lock their QTM tokens for a pre-specified period of time. These tokens will then be used to secure the Quitriam Finance ecosystem, and users who staked their tokens are rewarded with additional QTM tokens.
Users can also search for mithril which can then be used to generate yield-producing NFTs. These NFTs and QTM tokens will be tradable on Quitriam Swap, the decentralised exchange (DEX) of the Quitriam Finance ecosystem.
A project up for an interesting presale!
Learn more about Quitriam Finance
This article does not necessarily reflect the opinions of the editors or management of EconoTimes