While achieving large profits is frequently a sign of a good crypto trade, without adequate risk management and a proper understanding of the fundamental analysis of crypto projects, any significant profit might be lost in only one or two disastrous deals in the current bear market rally.
Most failed traders do not have any crypto trading tactics, nor do they have any notion of when to sell for a profit or how much loss they are prepared to take on.
Even while newcomers occasionally have luck in the cryptocurrency market, it is doubtful that they will be able to maintain profitability, especially if their emotions start to influence their trades. In this article, we evaluate Dogeliens (DOGET), Celo (CELO), and Vechain (VET) and the potential to dominate the cryptocurrency industry based on the strength of their respective product visions.
Dogeliens Set To Invade The Cryptosphere
Dogeliens (DOGET) is the pup-pet master of Defi (decentralized finance), a decentralized platform for users, holders, and investors alike. On the Dogeliens “pup-tastic” platform, users can stake and earn coins with open-source peer-to-peer (P2P) cryptocurrency that will enable the buyers and the sellers to exchange their currencies without any hindrance or to execute trades online securely and anonymously with comparable lowered fees without the need for any agents or third parties.
Dogelien’s mission is to provide people with a fun cryptocurrency that carries on the meme coin hype of Dogecoin (DOGE) and Shiba Inu (SHIB) but with added utility. DOGET aims to become a much more viable investment for everyone due to its plentiful supply and low cost, making it simpler and more appealing for people to utilise for advertising, sharing, and trust on social media platforms.
The team sees Dogeliens as an experimental “cosmic” ecosystem, which refers to a collection of people working together to create a special DAO that is unlike anything conventional. The Dogeliens team has carefully thought out useful applications in gaming and the metaverse such that investors and traders may take part in the construction of the greatest meme coin in the chronicles of the cryptocurrency industry.
Enter The Open Source Blockchain Of Celo
Celo is an open-source, proof-of-stake (PoS) blockchain with cross-chain compatibilities, such as the Ethereum Virtual Machine (EVM). Celo is a platform that serves as a worldwide infrastructure for cryptocurrency payments and is designed with mobile consumers in mind.
Because payments may be transferred to and received from any phone number around the globe, Celo aims to make financial activity accessible to everyone throughout the world. According to reports, the blockchain’s structure enables lower user needs and faster processing.
The 2020-launched Celo mainnet blockchain makes use of its native asset, CELO (formerly known as Celo Gold), for a variety of operations. One of Celo’s primary features is its ability to run stablecoins like cUSD, which offer the efficiency and transparency of cryptocurrency transactions while reducing the volatility of these assets.
Using what they refer to as a “programmatic reserve,” a reserve that is overcollateralized with CELO and other cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH), Celo automatically assures that the value of each cUSD is equal to one US dollar.
As a result, CELO may be purchased for the same price as cUSD, and vice versa. In the future, Celo intends to provide holders of CELO the ability to suggest and decide whether to create stablecoins that are pegged to the value of other national currencies, such as the euro or yen.
The Versatile Smart Contract Platform – VeChain
Essentially, VeChain’s main objective is to improve digital collaboration between companies by providing them with new tools for swift data sharing and supply-chain management.
Vechain (VET) was first developed based on the Ethereum blockchain in 2015 to provide authenticity and transparency to the provenance of luxury items to minimize fraud and combat fake goods. VeChain, however, created its blockchain in 2018 and had an ICO in 2017 with higher ambitions in mind.
The platform developed by VeChain and its native coin, VET is intended to increase the effectiveness and openness of supply chains and related business activities. With the use of its technology, items can be tracked throughout their entire lifecycle, from production to retail to customer involvement on the blockchain. With VeChain, many businesses throughout the supply chain can monitor products in real-time as they move through every stage of production and delivery and validate the data.
Among the Fortune 500 firms using live VeChain systems are Walmart, BMW, LVMH, Renault, Deloitte, and PwC. When asked whether VeChain could reach $1, Coinquora remarked that it could go to even higher heights, even above $1. Additionally, this is only conceivable if the market continues its positive path amid the cryptocurrency plunge today.
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