Place/Date: - December 14th, 2022 at 11:00 am UTC · 4 min read
Source: Tora Inu
The asset currently matches the bearish trend that rules the rest of the market since ETH’s price has lost its appeal in the post-Merge environment. The price of ETH has dropped 30% from its $2,000 high since the Merge, and it’s possible that a sizable portion of the speculative capital that supported the optimistic Merge narrative is now in stable coins seeking the next investment opportunity.
In addition to ETH’s uneven performance over the past four months, Cosmos (ATOM) also resisted the downward trend in the market by staging a massive rise from $5.40 to $16.85. As extensively reported by Coin Telegraph, oversold circumstances and the buzz around Cosmos 2.0 supported the strong price movement witnessed in cryptocurrency.
The updated Cosmos white paper states that the present ATOM supply will dynamically change in response to the supply and demand for its staking. The issuance of new ATOM tokens is high for the first ten months once Cosmos 2.0 “kicks in,” as indicated in the figure above, but after the 36th month, the asset experiences deflation.
Technically speaking, ATOM’s price seems to have reached a local high because the months preceding Cosmos 2.0 were a purchase, the rumor, sell-the-news sort of event. However, as the market nears month 20, it will be fascinating to observe how ATOM’s price develops.
Although the price has declined significantly, investors should monitor Ethereum network activity, developments with ETH staking across decentralized finance (DeFi) and institutional products, as well as any spikes in gas prices over the coming months. Since the Ethereum Merge, Ether emissions have decreased by 97%. (connected to network activity).
While the price may succumb to bearish pressure in the near future, it’s conceivable that ETH’s price may respond favorably to those changes if the market starts to turn around or if new trends lead to an increase in the usage of DeFi goods.
Big Eyes and Flasko are waning as a result of their failure to decree the community with their hazy ideals and roadmaps. Instead, the crypto community is investing in Tora Inu, which differs with a robust white paper and a utility-driven roadmap.
It’s tough to win over young crypto investors.
Big Eyes is a meme currency with a cat theme designed to transfer income into the DeFi environment and protect a vital part of the global environment. A community of powerful cats, the Big Eyes community, and NFTs will work together to achieve this.
Big Eyes and Flasko both provide huge profits to investors and loyal members, but they are unable to establish their long-term significance in a crowded market. Their arguments don’t sway the new generation of cryptocurrency investors, who choose inherently valuable coins over long-dead incentive tokens. That also explains the positive reception given to projects like Tora Inu.
The play-to-earn blockchain network Tora Inu wants to transform the meme coin industry. Tora Inu differs from its forerunners in that it is not willing to embrace the meme coin name since speculative assets have a shelf life. Due to its long-term vision, it is ahead of the bigger market.
By fusing well-known crypto concepts like meme coin, P2E, metaverse, and NFTs, this is made possible. Players in the skill-based play-to-earn game are paid more for their performance and involvement than they are for the amount they invest in NFTs or cryptocurrency tokens. The meme coin lowers the barrier to entry for blockchain games, paving the way for broad adoption.
Additionally, it greatly promotes the platform’s long-term growth through a loyal user base. Tora Inu’s native cryptocurrency is TORA, which is now in its presale stage. The quickly moving presale, which has been unaware of its relevance, is another sign of the platform’s market prominence to the overall crypto collapse.
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