History shows that in major market corrections such the one we’re riding now, risk-on assets tend to bottom out a full six months before major indecise. This pattern is evident in crypto as altcoins tend to fall farther and faster than Bitcoin and even Ethereum. This might imply that the way to stop the bleeding is look into assets that have been beaten down the most.
Many experts are saying Bitcoin’s bottom might not be in, but several altcoins may be at or very close to the bottom. One of these badly beaten assets is Solana (SOL) which is now down more than 90% from it’s all time high just shy of $260. Now grovelling in the $30 area, it looks like there’s no where to go but up. But it’s anyone’s guess really. Don’t put all your eggs in one basket.
Another strategy during downturns is to focus on passive income opportunities. Two tokens that might be worth looking into are Gnox Token (GNOX) and LEO Token (LEO).
LEO is used to lower taker and lender fees on DeFi platforms. It’s a great token for saving money on trading fees for yield farming. There’s only one problem with this. While LEO is a great tool if you’re an experienced DeFi investor, it does little good for the little guy. Anyone who is new to crypto or who doesn’t have the time to educate themselves on DeFi and then research, choose, and babysit their picks, won’t get it. Literally.