According to crypto news, the cryptocurrency plunge has been quite eventful. Prices have dipped drastically, with the world’s most valuable crypto – Bitcoin recording an all-time low since December last year. Investors are wondering whether to get rid of risky assets or stick to see what happens after this period. Of course, it is not news that the crypto market is highly volatile, especially now that there is a cryptocurrency plunge and individuals should be aware of its risks before investing.
Some experts suggest that the key is to take advantage of the specific features that these blockchain projects offer, including lending and borrowing, buying, and staking during the bear period, especially on Decentralised Finance (DeFi) projects. If you are investing in Mehracki Token (MKI) and Compound (COMP) tokens, you are on the steady path to making a profit during the crypto winter.
Why Mehracki Token (MKI) is the Meme Token for Long-Term Investment
The crypto community saw the introduction of meme tokens in 2021. At that time, many thought of it as a joke and an even bigger unpredictable case that added to the problems that cryptocurrencies had until it witnessed the rise of Shiba Inu (SHIB) and Dogecoin (DOGE). Since then, a lot of meme projects have flooded the crypto space.
However, there are still problems associated with meme tokens, as many are based on endorsement and hype rather than token adoption and real-life applications, causing them an even bigger risk. Hence, the creation of MKI, the native token of the Mehracki ecosystem.
Mehracki Token (MKI) is a meme token based on the Solana network. According to developers, the project was created to incorporate a framework that uses practical infrastructure, and use cases and incentivizes tokens to generate income for investors. Users on the platform have access to a plethora of concepts like decentralized exchanges, an NFT marketplace, staking and yield farming.
MKI token holders will have access to cheap, seamless, and authenticated transactions for a small fee especially now that there’s a cryptocurrency price plunge.
Compound (COMP) – The Ethereum-Based Token
A compound is a decentralized software built on the Ethereum blockchain that allows users to deposit funds into lending pools and gain interest on various crypto assets. Simply put, it is a DeFi protocol that functions as a market, where autonomous lending and borrowing can occur without a financial institution acting as an intermediary. Compound connects lenders and borrowers, operating a decentralized version of the fiat money banking system.
In its effort to incentivize user participation, Compound (COMP) awards lenders with cToken, a new cryptocurrency that signifies the deposit made by the user. Token holders can then trade or transfer the token, but it can only be redeemed for the crypto locked in the protocol it represents.
To encourage users who do not wish to lock or lend, the platform rewards individuals irrespective of which activity they engage in within the market with its native token, COMP, which means that as a user, you can also earn rewards for basic interaction.
Various endorsements during this period of cryptocurrency price plunge have misled individuals to invest in crypto offerings that are all hype and buzz without worth. The actual value lies in what the project has to offer in the long run and what they are doing differently from its predecessors.
As for Mehracki Token (MKI), the evidence of what they have to offer is out there for you to see. It’s left to you to take advantage of the dip now that crypto prices are going down and prepare for possible massive returns during the bull period.
For further information on Mehracki Token (MKI):
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