This year started off on rocky 🪨 grounds. Many investments 💰 made into crypto had a tough time appreciating in price. The funny thing is, in the year before, specifically in November, many of the top Altcoins 🪙 reached their all time highs. The following months after that have been somewhat tragic. This is due to the same Altcoins 🪙 losing value to the tune of 50% and sometimes even more.
Not long ago, the entire crypto market was valued just above $3 trillion💲. But with the recent drop in values of many coins, we are looking at a total market cap of somewhere along the lines of $1.7 trillion. This data👩💻 can be certified on CoinMarket cap. One may question what exactly makes an altcoin this valuable⚱️? Well, we need to establish what exactly an Altcoin is. These are coins within the cryptocurrency ecosystem that is not one of the major players such as BTC and ETH. Altcoins tend to provide new or additional capabilities or purposes aside from being a currency💱.
This is where WQT falls. The value of WQT is reliant on the functions it performs within its community. As well as serving as collateral, the WorkQuest Platform uses it for liquidity mining, payment of services, and to reach consensus and ensure the security and viability of the blockchain via PoS staking, which is a very critical fundamental function, and a whole host of others. What holders of WQT should be banking on for it to be a viable token asset is the mere fact that WorkQuest is actually solving an important need in the world 🗺. That is, by bringing employers and employees under one umbrella 🌂. This makes WQT a viable token to look forward to.