Why are Ethereum (ETH) and Calyx Token (CLX) so exciting right now?
Today, cryptocurrency may appear to be dangerous territory. Bitcoin (BTC) and Ethereum (ETH), the two most popular cryptocurrencies, have both dropped more than 20% since the beginning of the year. Concerns about inflation, the war in Ukraine, and regulatory uncertainty in the crypto industry have pushed some investors toward lower-risk assets. CLX and ETH news…
However, keep in mind that these factors are currently weighing on the industry. However, they have no bearing on the prospects of individual players. For example, a blockchain that is attracting an increasing number of projects now may thrive in the future. And today is a great time to get in on the action for a low price. Of course, it’s best to be selective, especially in these trying times.
Ethereum (ETH) and Calyx Token (CLX), a new liquidity protocol that recently entered presale, are two projects that have been stirring up excitement in the crypto industry. Keep reading to find out why.
Buying the dip
I’m referring to Ethereum (ETH). When is a better time to buy a market leader than when it’s on the decline? Ethereum (ETH) isn’t immune to the bearish sentiment that has gripped the crypto market. However, there is reason to be enthusiastic about Ethereum (ETH) right now because the blockchain is undergoing a major upgrade.
The upgrade is being carried out in stages. The first part, dubbed “the Beacon chain,” was already released by Ethereum (ETH). This is the first step in changing Ethereum’s (ETH) consensus mechanism from proof-of-work to proof-of-stake. Validators must solve complex computations to approve a transaction using proof of work. Proof of stake empowers those with Ethereum (ETH) holdings to validate transactions. This is both faster and more environmentally friendly because it uses less energy.
The main net will then be merged with this proof-of-stake chain. That is when Ethereum (ETH) will officially switch to proof of stake. This has been postponed recently, but it should happen in the third or fourth quarter of this year. Ethereum (ETH) also plans to introduce shard chains next year. These distributed the workload across new chains.
This is why everything is so crucial. This upgrade addresses Ethereum’s (ETH) major issue: network congestion, which has resulted in long transaction times and high transaction fees.
Paving the way for dApps and NFTs
Despite this issue, Ethereum (ETH) has already established itself as a major player. According to the State of the dApps website, Ethereum (ETH) is home to over 2,900 dApps.
According to CryptoSlam data, it’s also the most popular blockchain for non-fungible token (NFT) sales by volume. The strength of Ethereum (ETH) is also demonstrated in a report by Electric Capital, a firm that invests in blockchain technology. Last year, the number of Ethereum (ETH) developers increased by 42%. In terms of tools, apps, and protocols, Ethereum (ETH) remains the dominant player.
The first-mover advantage belongs to Ethereum (ETH). Growth could take off in the coming years as a result of the upgrade. Naturally, all cryptocurrencies carry a high level of risk. That’s because the industry is still young, and it’s unclear whether the rest of the world will embrace it.
Calyx Token (CLX) wants to shake things up
Calyx Token (CLX), the most recent liquidity protocol to hit the market, uses cutting-edge technology to help users avoid the long processing times and exorbitant gas fees common across crypto exchange platforms.
Calyx Swap, the platform’s exchange solution, will pool liquidity from multiple sources across multiple DEXs belonging to various blockchain networks such as Ethereum (ETH), Polygon (MATIC), Binance (BNB), and Avalanche (AVAX) to provide users with the best rate for any swap on any supported blockchain network.
In addition, Calyx Token (CLX) intends to be permissionless and decentralised. Users will not have to go through the extensive security checks required by centralised exchange platforms, nor will they have to register to use the swap. This is expected to significantly increase Calyx’s (CLX) popularity, potentially driving up the token’s price.
Calyx Token (CLX) is currently in the presale stage, so early adopters are likely to profit handsomely when the token goes live. CLX holders believe the presale will allow them to profit from the platform’s expected success, as the platform’s White Paper promises to bring revolutionary changes to the crypto market.
Judging by the upcoming developments that Ethereum (ETH) and Calyx Token (CLX) have planned, they appear to be strong long-term investments despite the market’s bearish sentiment. Calyx Token’s (CLX) presale might offer investors the chance to explode their returns, considering the ongoing hype around its swap.
Never put more money into something than you can afford to lose. If you want to try crypto, investing in presales or the market leader is a good place to start.