The bear market has not been good for our portfolios as Bitcoin has fallen over 70% since peaking above $60,000. Worst of all, the ever-worsening economic outlook, as well as structural issues like the collapse of LUNA and the recent FTX exchange, are likely to mean more rough times ahead. Don’t despair though, today we’re going to look at 3 coins that are holding their own in the chaos of the crypto market. So let’s get into that!
The three altcoins to look at for your portfolio
Ripple (XRP)
The XRP Ledger is an open-source, no-permission blockchain that launched in 2021 and has made headlines for its potential. Blockchain brings extremely low-cost transactions, speed, and scalability to the table, all with an eco-friendly perspective.
XRP is particularly useful for the banking sector and can count on the support of some big institutional names. However, the US Securities and Exchange Commission has taken Ripple Labs, the creators of XRP, to court, claiming the coin is a security. The verdict is still pending, but it puts the future of XRP in question.
Like most of the crypto market, XRP had a challenging quarter, falling from $1 on December 1, 2021 to $0.4 on December 1, 2022. The coin has also lost over 60% of its market cap, trading at $39.7 billion. $ fell on both bear market and pessimism among investors on SEC case ruling.
Choice.com (FOR)
CHO is the native token of Choise.com, an earnings marketplace that has been making headlines in recent months. Choise.com excels at bringing together promising income generation solutions like staking, yield farming, liquidity pools, interest accounts, and more, and increasing access to them through an easy-to-understand, unified ecosystem. This significantly lowers the barriers to entry into the crypto industry, giving even newcomers a better chance of earning from their crypto assets.
The CHO token in particular has a bright future ahead of it. Over the past month, the token has outperformed the vast majority of the market and held the price around $0.9 while many other coins tumbled. Since launching in June of this year, CHO has grown an incredible 135% while the rest of the market collapsed. CHO hit an all-time high of $1.38 during this time of market downturn, which alone proves its worth.
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CHO’s growth is also aided by the fact that it has been listed on several major exchanges such as Uniswap, Raydium, MEXC and Lbank. And more major listings are planned for the future, according to top management.
Spirit
Aave is a decentralized blockchain protocol specializing in cryptocurrency lending and borrowing. The protocol developed an innovative system whereby lenders deposit funds into a specially created liquidity pool and earn interest on it. Borrowers can then obtain liquidity immediately without any collateral.
Aave is not just another borrow-and-borrow DeFi protocol. The project will allow investors to borrow and lend over 20 cryptos and benefit from Aave’s flagship flash lending product.
Aave had a tough year falling from $273 on December 1, 2021 to $63 on December 1, 2022, losing over $2 billion in market cap in one year. The drop in price is significant, but not unreasonable given the current market outlook.
With these 3 gems the sky is the limit
Aave, XRP and CHO are 3 altcoins with great potential for future growth. Navigating the bear market is never easy, but savvy investors know that downturns also present opportunities for profit. Traders can now invest in coins like Aave and XRP at a reduced price, and given their future potential, it could just be a steal. However, the CHO token is a different story. CHO has performed well during the bear market and held most of its price, proving how much potential the coin has. Come back to the bull market, the sky will be the limit with these three coins.
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