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If you’ve been in the crypto market this past month, saying it’s been a difficult road is an understatement. Markets are now on a 30% slump from the start; CoinMarketCap shows that only 4% of the top 50 Cryptos have made gains in the past week. The current dip in the market is already making a huge impact, with investors pouring their money into stable coins and smaller cryptos to weather the storm.
Unfortunately, the storm doesn’t seem like it is ready to end. Major players in the market like BNB have been showing a steady decline recently. But, the Binance native coin dropped to a 2022 low of $232.09 on May 12. Compared to its $455.77 price in mid-April and it’s nearly $650 high from November 2021. The road is looking rocky for BNB at the moment. Also prominent on the list of declining cryptocurrencies is Cronos, which dipped to a low of $0.1743 on May 12.
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Like BNB, Cronos has been coping with a steady downtrend since January of this year, accelerated by the news that Crypto.com would be making unfavourable changes to its reward programs. Considering the coin peaked at $0.9005 just six months ago on the back of Crypto.com’s huge LA arena sponsorship deal, it is fair to say its recent performance has been underwhelming.
Thankfully, not all hope is lost for crypto players; a new entrant provides a beacon of hope amidst the red sea of crypto coins. Mushe (XMU) is a new token built on Ethereum (soon to transition to Solana and Stellar) that does everything one could want from a cryptocurrency. The comprehensive upcoming Mushe World ecosystem features a decentralised social platform called Mushe Chat, an XMU staking program, a metaverse offering (the MusheVerse), NFTs and a DeFi banking system packs a lot of punch.
Mushe is focused on becoming the one-stop shop for your crypto and banking needs, championing peer-to-peer transactions without the nuisance of a middle man, which is every blockchain lover’s dream.
Since Mushe’s presale started almost a month ago, on April 18, there have already been major strides in this fledgling token’s rise. A whopping 400% gain in just three weeks shows the potential that lies within the Mushe ecosystem. With a current price of $0.027, XMU is comfortably on track to exceed its previously projected price of $0.05 per token by July 4.
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This month, there hasn’t been much room for optimism in the crypto world, with cryptocurrency’s flagship coins, Bitcoin and Ethereum, showing significant dips and others, including BNB and Cronos, following a similar trajectory. However, newcomers like Mushe have brought excitement back to the world of crypto. With the project’s innovative features, ambitious plans and impressive levels of growth, the sky is truly the limit.
