The crypto crash of 2022 is a lesson in macroeconomics and how one move can create a ripple effect. When the Consumer Price Index (CPI) announced that inflation hit 8.6%, it sent the markets into a tailspin. The stock market was the first to react as Nasdaq, and Dow Jones dropped by hundreds of points. Soon after, Celsius (the largest cryptocurrency trading platform), ceased all business transactions, which led the cryptocurrency market into a negative spiral.
The two most significant figures are the market capitalization of cryptocurrency and the value of Bitcoin. Firstly, the market cap went from three trillion dollars in November 2021 to under the one trillion mark in May 2022. Secondly, the price of Bitcoin went from sixty thousand to below 20,000 dollars in June 2022. Since then, markets have rebounded, albeit slightly. It will be a long time before it reaches the heights of 2021.
Avalanche (AVAX) – The Distinctive Architecture
We will look at the figures of Avalanche (AVAX) to see how the market is faring. AVAX ranks at number 14 with a cap of 18.7 billion and a token price of 25.9 dollars; both values have risen 10.4% in the last twenty-four hours. In the same duration, AVAX tokens traded are 1.1 billion, up 7.4% from yesterday. Avalanche’s numbers are up across the board, despite the crypto crash.
Avalanche is a layer one blockchain platform that supports decentralized applications. Since AVAX boasts a high transaction output of 6,500 transactions per second without compromising scalability, it may be conceivable for the AVAX team to surpass Ethereum as the top option for smart contracts.
Launched in 2020, Avalanche has a distinctive architecture, which consists of three separate blockchains: X-Chain, C-Chain, and P-Chain. Each chain has a different objective, and the nodes involved verify every transaction. The AVAX mechanism uses various consensus protocols based on use cases.
The makers of Avalanche (AVAX) are developing a comprehensive suite of dApps (decentralized application) and DeFi (decentralized finance). Ethereum-based projects like TrueUSD and SushiSwap can be integrated with Avalanche.
Carlossy Caterpillar (CARL) – The Latest To Join
The cryptocurrency market is inundated with new tokens daily, one of which is meme cryptocurrencies. A meme cryptocurrency is a token based on an internet meme or a hilarious character.
Popular meme tokens are Dogecoin, which started the trend, Shiba Inu, and others. The latest token to join the growing list is Carlossy Caterpillar (CARL), which came about due to a disagreement between Marks & Spencer, a British retail company, and Aldi, a German supermarket chain.
M&S created a caterpillar cake and gave it the nickname “Colin the caterpillar.” However, there was an existing duplicate in the German market, resulting in a conflict of interest and inspiring viral memes online.
Carlossy Caterpillar was born because of the plagiarism controversy between the two companies mentioned above. The CARL token was created to capitalize on the publicity and encourage more people to join cryptocurrency trading. CARL will run on Binance Smart Chain and will be used for buying, staking, and trading purposes. The makers of Carlossy are hoping their token can rival the meme tokens already available since it will encourage users to turn to cryptocurrency and enhance blockchain systems.
Moreover, the team behind Carlossy Caterpillar (CARL) has observed that a sense of belonging is needed online, particularly after the pandemic. The CARL token is primed to give users an option that is fun and community-oriented. CARL will be a decentralized system in a user-operated Web 3.0 platform. The possibilities are endless if Web 3.0 is utilized effectively.
Avalanche (AVAX) is in a strong position despite the ongoing crypto crash, since all three of its figures are on the up. AVAX’s numbers are a sign that new cryptocurrencies can be successful when they enter the market, which should work in the favour of Carlossy Caterpillar (CARL). If Carlossy Caterpillar piqued your interest, and you wish to invest now, you will receive a 10% bonus in presale stage 1, an 8% bonus in stage 2, and a 5% bonus in stage 3.