2022 has not been the best year for cryptocurrencies as yet. Several events, such as the Terra Luna collapse and the recent crypto crash, had a significant impact on the crypto community and beyond it.
Even though the market crash is considered a normal part of the bear and bull market cycles, for a lot of crypto newbies, the crash had a negative effect that was too much to handle. Additionally, the crypto industry lost over two-thirds of its value in just a couple of months.
However, despite all the losses, many experienced crypto investors are now holding onto their major investments in Bitcoin (BTC) and Ethereum (ETH) but also intend to expand their portfolios by adding riskier yet potentially rewarding alternative cryptocurrencies. Does Persystic (PSYS) have what it takes to get onto the radar of experienced crypto enthusiasts?
July became Bitcoin’s best month in 2022 as yet, since it closed the month with a 17% surge. After a few devastating months, Bitcoin finally overcame the line of $20,000 and has since been trading above it.
The bullish movement over the past few weeks has led crypto enthusiasts to wonder what’s next for the crypto market leader. While typically, August and September months are more likely to be in the bear territory as per historical performance, the sentiment in the crypto community is finally past the negative phase.
The upcoming Ethereum upgrade, referred to as the Ethereum Merge, is currently among the most discussed topics in the crypto community. This is closely related to the fact that its testing is happening this week, and further implementation is scheduled for the next month.
Ethereum blockchain will transition from its proof-of-work (PoW) to proof-of-stake (PoS) consensus mechanism. The update will bring multiple benefits to the network, including reducing transaction costs, increasing scalability, and alsomaking the platform more environmentally friendly by over 99%.
The transition to the PoS protocol has been deemed necessary because of the expansion of the Ethereum network, which resulted in several congestion issues and high gas fees. However, it has also raised negative feedback from some community members, which are not particularly excited about the upcoming merge.
Persystic (PSYS) enters the crypto industry with a unique idea to improve the social media platforms and their features. Persystic will utilise blockchain technology to bring the best possibilities to the content creators and provide them with safe and secure ways of earning income.
Being powered by Binance Smart Chain (BSC) will enable Persystic to run all operations smoothly and efficiently. The new project aims to revolutionise the social media industry by bringing a decentralised solution with superior functionality that will benefit the people rather than the corporations.
Current centralised social media organisations own the content published by individuals on their platforms. This will change with the Persystic, as the new crypto project intends to ensure that all the content on the network rightly belongs to its creators.
Many new crypto projects join the industry daily. However, not all of them are successful due to lack of utility or other issues. It is vital to examine and research potential investment options before making any further decisions. A thorough analysis of new projects may help eliminate the ones that are likely to fail in the competitive crypto market and will protect your investments.
If you are interested in learning more about Persystic (PSYS), follow the links below to access more information.
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