The entire cryptocurrency market has been taking a pounding in recent days, with the value of many cryptocurrencies taking a plunge. However, cryptocurrencies such as VertoChain (VERT), Tron (TRX), and Binance Coin (BNB) have stood their ground during this time.
VertoChain (VERT) is a platform that enables swapping and peer-to-peer trading of digital assets across five blockchains: Avalanche, Binance Smart Chain (BSC), Ethereum, Solana, and Tezos. VertoChain (VERT) provides its users with the right to take part in decision-making processes on how to improve the platform. The VertoChain team promises to ensure that the essence and complex nature of blockchain technology is captured but overlaid with a seamless user experience and an easy-to-use but intuitive user interface. The team is also focused on improving its user’s access and use of digital assets throughout blockchains thereby hastening the adoption of digital and crypto assets across the globe.
VERT, the official token of the VertoChain platform, is a deflationary token built on the Binance Smart Chain (BSC). The token is a utility token that provides its holders with access to the features of VertoChain and makes them eligible for notable community roles and initiatives including being part of the decentralized autonomous organization (DAO). The token will undergo a presale phase where 30% of its maximum supply of tokens will be offered up for sale.
Founded by Justin Sun in 2017, Tron (TRX) is a decentralized blockchain-based operating network developed to furnish digital content makers with full ownership rights to motivate them with more rewards for their work.
The Tron (TRX) platform was created to serve as a tool for innovators and developers to create decentralized applications (dApps) and in return, receive digital assets as a reward. The Tron (TRX) network boasts smart contract functionality and a proof-of-stake principle as its consensus mechanism and it operates as an alternative to the Ethereum blockchain. The implementation of the network requires minimal transaction fees to prevent malicious users from performing Distributed Denial-of-Service (DDoS)stacks for free.
TRX is the official cryptocurrency token and the basic unit of accounts on the Tron network. Initially, the TRX tokens were ERC-20 based and built on the Ethereum blockchain, however, since 2018, they are now TRC-20 tokens running on the Tron (TRX) network. TRX connects the entire Tron ecosystem with abundant application scenarios that power transactions and applications on the chain. The token has a very high market capitalization value with a circulating supply of 92 billion tokens. Listed on over 130 exchanges, the Tron network is the world’s fastest-growing public chain, and TRX, one of the most promising cryptocurrencies, connects millions of high-value investors across the globe.
Binance Coin (BNB)
Binance Coin (BNB) is a cryptocurrency token issued by the Binance Exchange and trades with the BNB symbol. It was initially an ERC-20 token built on the Ethereum blockchain network but is now built on the Binance Smart Chain (BSC).
The BNB token was created as a utility token for discounted trading fees in 2017, but its uses have expanded to numerous applications including entertainment, online, and financial services. It can also be exchanged for other cryptocurrencies including but not limited to Litecoin, Bitcoin, and Ethereum. As stated in the Binance Coin (BNB) whitepaper, every quarter, Binance uses 20% of its profits to buy back and burn Binance coins, destroying them completely. Binance will continue doing so till 100 million coins are destroyed. This practice ensures that the coin supply remains finite, making it scarce and increasing its value.
These three cryptocurrencies all look to be good options for crypto enthusiasts to purchase during the crypto plunge in 2022 and come out of the bear market in a better position.