• Major cryptocurrencies have experienced a bear market since November 2021, causing Cardano (ADA) and NEAR Protocol (NEAR) to decrease by over 80%.
• In order to make smart investments during this bear market season, high-value projects with long-term viability should be considered.
• The TMS Network is one such project: it is an all-in-one trading platform designed to disrupt the traditional trading industry.
Crypto Bear Market Impacts
After major cryptocurrencies reached all-time highs in November 2021, with Bitcoin ticking $69,000 at one point, a year-long bear market has brought most of these cryptocurrencies down by over 80% from their all-time highs. Cardano (ADA) and NEAR Protocol (NEAR) are two of the hardest hit. Despite the slight market recovery in 2023, Cardano is down 87.23% and NEAR is down 86.84%. Market experts predict that the recovery will be slow and that the crypto winter will last until around May 2024.
Competing Blockchains
NEAR Protocol and Cardano are both Ethereum competitors. NEAR Protocol is a Proof-of-Stake (PoS) blockchain that aims to ease access to DeFi solutions by offering cheap and speedy transactions. NEAR Protocol is ranked 30th on CoinMarketCap, with a live market cap of $2,277,718,061. Aside from Ethereum, the NEAR protocol competes with other PoS networks such as Avalanche, Solana, Cardano, and Algorand.
Cardano (ADA) is yet another Proof of Stake (PoS) network that aims to be a more efficient alternative to PoW networks and Ethereum. A more adaptable and scalable blockchain network for running smart contracts. Cardano is currently ranked eighth on CoinMarketCap, with a live market cap of $13,641,201,530., Avalanche (AVAX), Cosmos (ATOM), Polkadot (DOT), Solana (SOL), and Tezos (XTZ) are among its competitors .
TMS Network Overview
With bear market conditions expected to last for at least another year investment decisions have become even more important; only invest in projects that promise long term viability like TMS Network whichis an all-in-one trading platform designed to disrupt the traditional trading industry.. It addresses pressing issues such as price uniformity and fees ,price manipulation & wash trading ,transaction delays ,inadequate trading experience & lack of education .
Social Trading Feature
TMS Networks social feature allows traders connect & follow successful traders so they can learn from their strategies & copy their trades making them easier for novice too .