Which cryptocurrencies to watch in May? A daunting question, with continued instability in Ukraine, soaring inflation and general investor concerns about entering another recession in the coming years.
The best thing to do in this kind of situation is to take the time to analyze the market and do your due diligence to avoid making decisions you’ll regret.
This article will cover three cryptocurrencies that may be worth watching this month, one of which is in the presale stage, Mushe (XMU). Keep in mind that these are not investment recommendations, just a few ideas to consider for future research!
Waves (WAVES) is an alternative layer 1 project that has been making headlines in recent weeks as the price of its native token, WAVES, plummeted by more than 60%.
This selloff was triggered by Waves ecosystem stablecoin Neutrino USD (USDN) losing its peg to the US dollar, leading many investors to lose faith in the project and dump its native token.
Following this massive drop, WAVES is now trading around $13.70 and has regained some strength over the past day with investors buying again, leading WAVES to rise around 10% in the over the past 24 hours. Indeed, Waves remains a solid and ambitious project, suggesting that now could be an interesting time to buy WAVES at current prices.
Indeed, Waves still claims over $1.5 billion in total value locked (TVL), making it a major project in the field. In addition, Waves has just announced the launch of its version 2.0, which includes significant network upgrades.
Notably, Waves 2.0 will use Practical Proof-of-Stake Sharding (PPoSS), a particular consensus mechanism compatible with the Ethereum Virtual Machine (EVM). Concretely, this means that the Waves and Ethereum networks will be able to interact and communicate with each other.
This improvement will notably allow investors and developers to easily navigate and transfer decentralized applications (dApps) between the two networks.
Waves 2.0 features other ambitious developments such as an accelerator program or metaverse metaverse initiatives, making WAVES an interesting and attractively valued cryptocurrency to add to your watch list in May.
STEPN (GMT) is a recently launched lifestyle and fitness focused platform that offers its own cryptocurrency, Green Metaverse Token or GMT. This project has received a lot of attention since its official launch last March.
STEPN has developed a “Web3 lifestyle app” that rewards users for exercising, including running. The rewards consist of STEPN’s token, GMT, which can then be easily exchanged for other cryptocurrencies on major exchanges like Binance or FTX; and even against fiat currencies, explaining the explosive popularity of the platform.
To start earning GMT, users must first hit an NFT that looks like a pair of sneakers. Then these sneakers can be used for walking and running, and generating returns for something anyone can easily do every day.
The only catch is that these sneaker-NFTs remain quite expensive, currently priced at around $1,000 each, deliberately limiting the potential audience but making it all the more exclusive and appealing in the eyes of the crypto community.
As a direct result, the price of GMT has risen over 1500% since its market debut, now stabilizing around $3.22 at the time of writing.
Although you may have missed the initial explosive growth of GMT, the popularity of the project within the crypto community makes GMT a cryptocurrency you want to follow in the coming weeks as a new bull run remains a possibility. real.
Mushe (XMU) is another nascent project that is currently holding a pre-sale for its native utility token, XMU. The token is currently priced at around $0.022, a significant increase from its initial price of $0.005, indicating the enthusiasm of the crypto community.
With its IPO scheduled for July 4, 2022, the Mushe team is in a critical, decisive period, and is currently targeting a listing price of $0.50 for XMU.
Essentially, Mushe aims to disrupt the financial landscape by developing an integrated blockchain-based ecosystem enabling seamless fiat and crypto transactions. Mushe therefore aims to follow in the footsteps of established crypto-giants like Ripple (XRP) or Stellar (XLM).
In order to achieve this goal, the Mushe ecosystem will offer a range of products including Mushe Wallet, Mushe Swap, and the MusheVerse.
Mushe Wallet will essentially consist of an app that will allow users to buy, sell and receive fiat and crypto assets seamlessly. Mushe Swap will be a decentralized exchange (DEX) within the Mushe ecosystem that will allow users to trade cryptocurrencies quickly and cheaply.
Finally, MusheVerse will be the culmination of the Mushe project, consisting of an all-in-one digital platform bringing together e-commerce and banking solutions for users. There, users will be able to perform instant fiat and crypto transactions, as well as access specific financial services such as personal finance, investment management, and more.
Provided Team Mushe successfully hits its roadmap milestones, XMU could be a great upcoming token worth adding to your watchlist.
Learn more about Mushe: