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FIREPIN is a multichain altcoin that allows users to earn fees by lending out their coins. But is it a good investment?
In view of the current fall in cryptocurrency prices, some altcoins are offering a reprieve for investors. From FIREPIN Token (FRPN) to PancakeSwap (CAKE) and Filecoin (FIL), you can have a great day investing in these coins as they have buffers in place to guide you against any crypto collapse.
FIREPIN (FRPN) is a Metaverse token designed to power user interaction across the different blockchains. It is governed by a DAO where holders of the FIREPIN Token (FRPN) use their tokens to vote on major decisions affecting the future of FIREPIN as it evolves. The FIREPIN Token is multichain, working across multiple networks. It leverages the algorithmic Reserve Currency to drive price stability, making it a worthy crypto investment in view of the price slumps across the cryptocurrency market.
FRPN seeks to connect Binance Smart Chain (BNB), Ethereum (ETH), Polygon (MATIC), Avalanche (AVAX), and Solana (SOL), and allow its holders to execute transactions on a quick and affordable scale. But alongside its initiatives to leverage metaverses and play-to-earn (P2E) games, FRPN intends to offer staking and farming options.
Through its staking platform, FIREPIN users will validate transactions based on the number of coins they contribute, or stake. By staking more coins, you get to increase your chances of being chosen to validate network transactions and earn more rewards. Its yield farming enables users to lend cryptocurrencies with interest and earn fees.
The presale prices are witnessing steady increases.
PancakeSwap (CAKE) is a DEX (decentralized exchange) that runs on the Binance Smart Chain (BSC). It was founded by a group of anonymous developers in September 2020 and uses an automated market maker (AMM) model to replace an order book with a liquidity pool, enabling users to trade without an intermediary or a centralized authority.
PancakeSwap (CAKE) is the most prominent decentralized exchange platform on the Binance Smart Chain, overtaking Uniswap (UNI) on several occasions to earn that spot. It has constantly integrated impressive features that attract investors and crypto holders to its platform. A case in point is the recent version launched by the platform, PancakeSwap V2, which offers about 1,426 token pairs to trade on the decentralized platform.
PancakeSwap (CAKE) has roughly 3 million active users, and currently enjoys a market cap of over $809 billion and 1.2 million holders. Despite the dip in cryptocurrency prices, predictions show that the price of CAKE could rise from an average of $9 in 2022 to $28.2 by 2025 and $201 by 2030.
Juan Benet founded Filecoin (FIL) in 2014 with the design objective of creating an incentive layer for a peer-to-peer storage network for storing and exporting data in a distributed file system popularly called the Interplanetary File System (IPFS). It is an open cryptocurrency and protocol that utilizes a blockchain to analyze and record the crypto holders’ commitments and activities (i.e., transactions) within its platform.
FIL typically applies the Proof-of-replication and proof-of-spacetime in its operations to offer crypto users a safe place to trade their tokens and other assets. It also uses a decentralized data storage system to keep users’ data intact and secure. For instance, unlike centralized cloud storage providers such as Cloudflare or Amazon Web Services, users can supervise their data while having global access to the web.
Based on several analyses, FIL is considered to have the largest presale to date. During its initial presale stage, it accumulated about $52 million, and when it held its Initial Coin Offering (ICO), it still raised a whopping sum of $205 million.
Filecoin is presently worth way more than its initial presale price, and it continues to increase each passing day. Filecoin (FIL) embodies excellent potential and represents a great investment option worth considering.
