We all know Crypto took a huge hit a few months ago and it's been trading sideways ever since so we might have just entered into a bear market or maybe it's just for right now and we're gonna be at all-time highs next month who knows with crypto at this point but the one thing I do know is that when we're given this opportunity it's easy to get scared and not see the big picture and the big picture is that the Markets are giving you a huge discount to buy into these coins at levels we probably will never ever see again but it's time for you to put aside your emotions and be the person coming out of this correction better than when you came.
So let's see which coins You should be looking into this upcoming month:
Considering for this upcoming month of march the first coin on our list is
1.LUNA
luna is a token for the terra protocol that focuses on the tokenomics of stable coins so let me explain there's a huge problem with
Stable coins in the crypto space right now because all the ones that you see today so usdt usdc and busd are all controlled by centralized companies meaning they can essentially do whatever they want with your funds and if one day the government orders them to freeze all your assets they theoretically can another huge problem is right now how stable coins work in crypto is that they are pegged to a fiat currency like the us dollar meaning for every usdc there
Is in circulation there's one us dollar backing as well now the problem with this is we don't know if the backing actually exists now tara solved this issue by creating two coins one ust which is their stable coin and one luna which is its native token so how does terra stable coin ust fix this pegging issue well for one it's actually decentralized which i'll explain in a second or two but its value is derived algorithm
Algorithmically through its relationship to luna its sister coin so let me break it down even more let's say me and you own luna and a bunch of other people start buying ust which increases the price through supply and demand and pushes ust over one dollar and if you're thinking about this that's bad right we want a stable coin to stay the same price hence the name stable coin well here's where the magic happens tara's protocol ensures each user can always
Trade one usd of luna for one unit of ust so if me and you own luna and ust is trading at one dollar and one cents as investors were incentivized to swap the coins and pocket the difference so the one cent in this situation to make sure you guys understand what's going on basically you have something that's worth one dollar and someone is telling you so the market in this situation that they're willing to buy it for a higher price of one dollar and one cents and
You're not going to say no to that so you take that and pocket the difference now how this works is a little more complicated so i'm not going to go fully in depth but when you do swap terra it burns luna and it mints the ust so if you've taken an economics course you know that when we increase the supply of something it causes the price to go down and that's exactly what's happening to ust
We're seeing like Canada recently freezing people's accounts this just proves the need for decentralization even more so watch out for luna because if we see heavy regulations on stable coins many developers will move over to
Luna which will cause the price to skyrocket now. If You are into trading or want to start trading so i highly suggest you guys looking into lux algo ( https://bit.ly/advancedtradinglines ) it's an algorithm that tells you exactly when to buy and sell stocks crypto forex whatever it is now i've been using it for almost two years and it's honestly changed my game they have so many special indicators that you guys can use as well to help you make better Traits
- Trader Joe
Trader Joe is a decentralized exchange running on the avalanche blockchain now to give a quick rundown of what avalanche is it's a blockchain that
Allows developers to build dabs or decentralized applications kind of sounds like ethereum right but instead it has fast transaction speeds and low gas fees the two things that ethereum struggles with the most now i think avalanche is an ecosystem that will do really well in the near future and i think it will take joe along with it now the cool thing is you can do a lot of things on the exchange first off it's super easy for you to connect your
Metamask wallet and swap coins and the gas fees are really cheap.
3.Chain Link
Chain link is owned by oracle and is an og that's been around since 2017. now chain link sets out to solve the problem of getting off chain data so like temperatures sports data and stock prices and putting it on chain so smart contracts can read this information.
The Chain Link founders said that they were going to be expanding beyond the ethereum's network just a few years ago and they've done exactly that chain link now supports 12 blockchains like polygon avalanche and phantom and is in the process of integrating its software to over a thousand other projects it already supports over 700
Big depths that you've probably already heard of such as ave celsius and our own trader joe and it's said to do so much more this past year chain link's total value secured accelerated to over 75 billion dollars that's 10xing just from last year and with d5 growing rapidly
chaining recently got crushed along with the other market and it's sitting at
Rank number 22 on coin market cap with a market cap of 6.8 billion dollars and with all the integrations set to happen in 2022 and the smart contract space growing this will make changing the go-to for offshoring data to many developers which will cause the price to increase as well chain link is set up perfectly to capture all the value from a growing d5 space so definitely keep this coin on your radar with the crypto industry in general you have to
Recognize that people are scared right now when we're looking at the crypto fear and greed index you can see that these low 20 levels are allowing you to scoop up these great coins at even better prices and we all know what they say be fearful when others are greedy and be greedy when others are fearful so take advantage of this opportunity that we have right now and pick up some coins for dirt cheap but alright guys these were my top crypto picks for the month
Of march as always do your own research before you invest and let me know which coins you think will have some crazy potential this upcoming month.