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After the US Federal Reserve announced its decision to raise the benchmark interest rate by 75 basis points, marking the most significant increase since 1994, the bear market became a reality we have to accept. This, in turn, led to high inflation which affected consumer indexeffectively leaving people to buy goods and services for less money.
In traditional economic theory, reduction in consumer index This leaves the general population vulnerable amid rising prices and an increased unemployment rate. But does the same logic apply to the crypto world, especially NFT, Let’s try to find out.
a league of Their Own
of course, NFT They were never really linked to any external economic factors because of how their utility is conceived. Unlike other cryptocurrencies backed by the dollar or pegged to other altcoins in a broader sense, most NFT exist and prevail because of the community around them. They say that beauty is in the eye of the beholder, and this principle applies 100% to NFTs.
However, recently, the industry entered a point of stagnation, failing to produce original content. Rest assured, all is not over, and there are still projects out there that can make a real difference. is such a parody coin ,paro), which looks like the hottest project of the summer.
Forget about copycats and bad artwork as this project offers the ability to emulate the most popular NFTs in the industry. Yes, you heard that right; Whether it’s your favorite BAYC, Puddy Penguin or Cryptopunks, parody coin Provides mechanism to trade these NFT parodies and generate revenue.
parody coin There are also plans to introduce Paroverse, an ecosystem designed to help accommodate the emergence of NFTs that interact with the real world.
However, the cherry on top is the platform’s native token (paro), through which users can pay fees to mint and transfer NFT parodies between wallets on the market. PARO tokens will launch on PancakeSwap, with the final presale phase ending in less than 30 days.
If you are interested in non-ordinary NFT projects that offer a wide range of crypto services in Blockchain and DApps, then PARO Token should be on your radar this summer.
When HODLing Is Life
Ever since Vitalik Buterin created Ethereum in 2014, many have predicted the cryptocurrency’s inevitable decline, pointing to design flows such as proof-of-work (PoF) and high gas fees. Fast forward eight years, and despite the current market crash, ETH, the native token of Ethereum’s blockchain, is looking bullish.
Initially planned as a community-driven technology powering the cryptocurrency Ether (ETH), it led to a plethora of DApps across the board. Currently, most NFTs are built on the Ethereum blockchain, most DeFi protocols rely on ETH as the primary fuel for their transactions, and the ETH currency itself is the second largest by market capitalization.
Still hesitating to buy this and HODL for a long time? In 2020, ETH fell to around $100, and in 2021 at the ATM, its price touched the USD 4500 mark. Considering that at the time of writing, the price of ETH is just above USD 1100, there are some good chances of your investment quadrupling soon.
shib for the moon
Like Parody Coin (PARO), (SHIB) is an investment asset that is barely worth the money. consumer index. As with most meme coins, SHIB’s main strength is the solid community behind it.
Compared to other meme coins, the Shiba Inu has worked differently from day one. Starting with a supply of 1 quadrillion, the project’s founder, Ryoshi, locked 50% into Uniswap, then “burned” Ethereum co-founder Vitalik Buterin for safekeeping.
The Shiba Inu token is the fundamental currency within its own ecosystem, allowing investors to hold millions, billions, or even trillions of tokens in their wallets.
And ever since Elon Musk announced plans to accept SHIB for Tesla payments, the prospects for this cryptocurrency are looking stronger than ever.
key term: Consumer Index, PARO, SHIB, ETH, Parody Coin, NFTs