Before cryptocurrencies, many investors, especially millennials saw gold and real estate as safe havens to store their worth. When crypto came into play, it gained traction slowly and steadily, and later, shot up to become a go-to option for many millennials.
A report by Influencer Marketing Hub estimates that 67% of millennials now see crypto as a safe haven for their assets. Since the crypto craze of 2021 in which Bitcoin rose to nearly $70k in November, there has been panic buying and sell-offs in the crypto market. These trade forms came with varying magnitudes of sentiments which have continued to sway the market up and down at random.
Those who see crypto as a safe haven are also beginning to have doubts about the future of cryptocurrencies. What can the crypto industry and community do to protect crypto’s future? Here’s a closer look at what the future of the crypto market looks like. Plus how Supontis, Ripple, and VeChain lead the crypto innovation.
What Is A Safe Haven Asset?
Safe haven assets are valuable investment options that can withstand harsh economic recessions. For example, there is a rising inflation crisis in the world economy. Cryptocurrencies, though affected by inflation because many depend on fiat values, can withstand high inflation because of their high volatility.
Cryptocurrency has a higher chance of beating inflation than many safe-haven assets that depend on fiat. This makes it a safe haven asset. However, crypto volatility is a setback to this. Reason being that cryptocurrencies are not regulated and you cannot rely on them because their value right now depends on legal tenders across the globe.
Ripple (also called XRP) is at the forefront of solving this problem by introducing central bank digital currency (CBDC) which is digital money that will also be powered by XRP. This will not only introduce cryptocurrencies to the traditional banking system but it will also disrupt the system to provide seamless cross-border payments.
What The Future Looks Like For The Crypto Market
The future of cryptocurrency — to some — appears unclear; to others, it shows great signs of a decentralized internet ecosystem where everyone will have a say over their digital presence. Cryptocurrency will be at the forefront of a decentralized internet because it is the only way one makes transactions with anonymity.
The setback to this innovation is the fact that the government will have the final say on how cryptocurrencies will be used even on the internet. Anti-money laundering and non-KYC compliance will also set in on many protocols because transactions may not be traced to anybody rather than an anonymous address or hash.
Nevertheless, cryptocurrency is here to stay and will continue to evolve till the DeFi ecosystem is saturated with decisions that favor the market and its functions.
Crypto enthusiasts also have a huge role to play in maintaining crypto prices always. Their market sentiments contribute to crypto price fluctuations, and it will be ideal to regulate these sentiments. But the question is — how can crypto market sentiments be regulated? Here are a few suggestions by experts. That crypto communities regulate the minting, unlocking, and burning of tokens most especially meme token communities. That DeFi tokens are locked occasionally for vesting periods. That more incentives are introduced and provided to stakers and liquidity providers. That crypto insurance policies become eminent in DEXs.
How VeChain, Ripple, Supontis Lead Innovation For Crypto Safe Haven
VeChain and Ripple are popular networks and ecosystems in DeFi. Ripple is popular for cross-border payments and central bank digital currency — a digital currency that seeks to convert the dollar to a digital currency. VeChain is a fast-growing peer-reviewed network that aims to provide all the necessary tools to bring crypto innovation to the doorsteps of businesses and institutions.
What is VeChain?
VeChain is a network that runs on the VeChainThor, a blockchain that is powered by the VeChain token (VET) and VeChainThor token (VThor). VThor is used as gas for energy purposes on the blockchain, while VeChain acts as the unique exchange token for staking and other transactional activities within VeChain. VET collects transaction data and converts a portion of it to the VThor for transaction validations.
VeChain seeks to provide long-term resources that businesses and startups can leverage to provide amazing services in the long term. VeChain also powers the VeChainThor wallets which also include the Sync1 and Sync2.
VeChain with its expansive innovation leads the way in making crypto a safe haven for future adopters. With the resources provided by VeChain, institutions can enjoy their crypto experiences.
What is Ripple?
Ripple became even more famous after the lawsuit by the securities exchange commission (SEC), a department in the United States that ensures that security tokens follow the legal processes and comply with anti-money laundering services. Ripple’s faceoff with the SEC in court has been one of the most talked-about cases in the DeFi space.
However, Ripple has remained resolute in providing excellent services to the DeFi industry. As mentioned earlier, Ripple, a network and coin managed by Ripple Labs and backed by a community of XRPArmies, has continued to show solid price signals and has nevertheless dropped deep unlike what many analysts may have predicted.
Ripple is a huge innovation we cannot get our eyes off of. However, investors and traders are keen on knowing what its future would look like after its case with the SEC, expected to end by 2023.
Ripple is determined to maintain its innovative prowess to provide the best services and disrupt traditional banks with its borderless payment systems and CBDC.
Supontis Token (PON)
Supontis (known by the ticker, PON) is a newcomer to the crypto market and DeFi industry. Supontis’ objectives remain clear — to provide seamless DEX and cross-chain bridging, and partner with top DeFi institutions that will ensure its ecosystem contributes the best decentralised services in DeFi.
Supontis runs on the BNB Smart Chain (BSC) network — a popular smart contract distributor in DeFi. Developers love BSC for its flexibility, low-cost integrations and smart contract deployments, and foundation that makes it easy to get grants to build the intuitive DeFi platforms and dApps.
How Does Supontis Contribute To Crypto Being A Safe Haven?
Supontis is still in its infant stages and is already gaining traction among crypto enthusiasts and developers across the globe. One way to know is how well its live presale has been going so far.
The Supontis Token is yet to launch its IDO, however, the presale has been spiced with many goodies and rewards that many up-and-coming traders may not want to refuse. For instance, you could earn 100% cashback when you buy tokens worth up to $2500 and more. That means you get tokens worth twice your capital after purchase.
You could also refer your friends and earn $50 when they purchase PON tokens worth $200 or more. Also, note that the presale prices start at $0.0056 and could skyrocket upon public launch.
How To Buy Supontis Token
Here is a detailed step on how to get the Supontis token for the least price possible as we anticipate a public launch on PancakeSwap.
Head to the main Supontis site: Supontis.com (ensure you cross-check for phishing situations)
Click on enter presale and register as a first-time buyer. Otherwise, locate login at the top right corner of your desktop screen and enter your login details.
Enter the crypto you wish to buy $PON with then the amount you wish to purchase, then follow the steps to get PON tokens to your wallet.
Remember, the Supontis token (PON) is a BEP-20 token, so you will need a BEP-20-supported wallet like Trust Wallet. Also, the rewards for the presale could change depending on the presale stage, so it is best to hop on now and get the early bird rewards.