In the crypto world, trust is a fickle currency. At the first sign of trouble, many investors who are afraid of losing their profit or capital can desert any project. Sometimes those that suck it up and remain behind are generously rewarded, but many times, they suffer along with the coin and then vow not to be caught in the next trap.
Perhaps that is why we have observed many users and stakers of coins like Aave (AAVE) and Neo (NEO) moving to join the newest coin, Degrain (DGRN). In this article, we examine the likely reasons for their migration.
Aave (AAVE): Down more than 80%
Aave, which means “ghost” in Finnish, was originally known as ETHLend when it was created in 2017. Aave (AAVE) has had a good run since then, making its early investors tonnes of money; however, in the current bear market, it has fallen about 84% from its all-time high of $666.
Aave (AAVE) provides holders with discounts on the platform and acts as a governance token for the network, providing Aave (AAVE) users with a say in the project’s future development. While many experts have predicted a pump in the Aave (AAVE) token’s future, the more regular investors who are more short-sighted have been derisking by selling off a lot of their Aave (AAVE) tokens.
Neo (NEO): Investors fear it may not hold out
Like many coins in this market cycle, Neo (NEO) coin has been performing terribly with an ever-downward march that has seen it fall from an all-time high of $196. Of course, the same can be said for many tokens; however, Neo (NEO) token’s all-time high was five years ago, and currently priced at $10.96, many investors have been rapidly losing faith.
Neo (NEO) token had plans to become the next generation of the internet, but given how unpopular Neo (NEO) has become, experts don’t see that happening for a long time. Will investors be able to wait that long for Neo (NEO) to evolve? Many don’t think so.
Degrain (DGRN): The rising star with high potential
Degrain (DGRN) token is the native cryptocurrency for the Degrain (DGRN) network, which aims to become the world’s first cross-chain NFT marketplace, as well as facilitate business with real world companies, whilst distributing revenues to token stakers.
Having already passed its audit, the team behind Degrain have stated that liquidity will be locked for 10 years; surely a strong sign that they plan to be around for years to come. Currently in Phase Two of its presale, the DGRN token is selling at just $0.085 and many experts believe that a move to the $4.8 mark could be on the cards by the end of 2022.
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