In recent months, there has been a lot of discussion regarding bull markets and bear markets.
If you’re not familiar with the term, a bear market denotes a falling stock price and possibly a failing economy, while a bull market occurs when prices rise, indicating a functioning market. good motion. The 2022 crypto market has recently been in a bear market, with crypto values plummeting.
Many analysts think that while the market is currently bearish, this is a good time to buy low before the market spikes again. In this article, we will take a look at some of the most selective cryptocurrencies to buy in a bear market, including Paxos Standard (PAX), Stasis Euros Token (EURS), and Mehracki Tokens (MKI).
Paxos Standard (PAX)
The Paxos Standard Token (PAX) is an ERC20 token fully backed by US dollars. There must be a minimum of one US dollar in Paxos bank account for each PAX transaction. PAX, like other stablecoins like US Dollar Coin, aims to combine the longstanding stability and reliability of the US dollar with the advantages of a digital currency.
That is, it can be sent to everyone around the globe, at any time, virtually at no cost, over the internet. PAX, like other Ethereum-based ERC20 tokens, can be used as programmable money in smart contracts and to interact with a variety of decentralized applications (dapps).
Payments, transfers, and transactions on crypto assets are all possible with PAX. Since it is a stablecoin, it is mainly used in exchanges as a stable store of value, which implies that crypto investors will trade and hold PAX to reduce volatility. in their crypto portfolio.
A new US dollar must enter the Paxos system before PAX can be generated. When a person deposits one US dollar to Paxos, which is then transferred to a bank account managed by Paxos, a new PAX token is generated. When that individual wants their money back, they have to exchange it for a PAX, which is then taken out of circulation.
With this simple mechanism, there will always be one US dollar for every PAX in circulation. Since no PAX is prefabricated or pre-manufactured, the overall supply of PAX is completely dependent on demand.
Stasis Euros Token (EURS)
STASIS is well known as a cryptocurrency cryptographic platform that allows investors to tokenize any financial asset. STASIS is backed by a collection of crypto dreamers, analysts, serial entrepreneurs and asset managers who provide the stablecoin with a well-coordinated crypto platform . EURS, a stablecoin backed by Euro, has just been published by STASIS. Order volume is expected to exceed $500 million by year-end, making EURS the world’s first fully collateralized and proven stablecoin.
Frameworks are used within the STASIS ecosystem to combine the benefits of new digital assets with the best characteristics of conventional assets. The EURS token is a digital financial instrument designed to digitally clone the Euro, with the clear warning that its value is pegged to collateral. EURS is a cryptocurrency that ensures transactions between wallets using the Ethereum blockchain. However, users do not need Ether to complete transactions made through the STASIS wallet technology.
Mehracki Token (MKI)
Mehracki is the new meme in the crypto market. Mehracki Token is a promising project option when compared to several other newer projects. This new cryptocurrency has a number of features that have attracted the attention of many crypto enthusiasts to it.
The goal of the Mehracki developers is to build a cryptocurrency with the potential to promote health and tourism through blockchain technology. Users of the cryptocurrency platform will be able to travel without having to face the hassles of currency conversions or the intermediary costs that currently plague the travel and tourism sectors.
Users will also enjoy exclusive benefits from the business. This new cryptocurrency works on the Solana network (SOL). This new cryptocurrency offers crypto enthusiasts and investors the opportunity to make substantial profits if they buy the cryptocurrency’s native coin, MKI, which is still in the pre-sale phase.