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Here Are 3 Coins That Show Gains During Crypto Market Bloodbath

Thu, 05/12/2022 - 12:57
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Arman Shirinyan
While the market bleeds, some coins and tokens are able to survive it and bring profit to investors
Here Are 3 Coins That Show Gains During Crypto Market Bloodbath
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Despite the bloodbath on the cryptocurrency market, some coins are still fighting for their place on the market by showing even mild gains, which look like a massive success against the background of coins with double-digit losses.

Tron fueled by USDD

The first and biggest coin on the list of assets that remain profitable is Tron (TRX), which at press time shows around a 4% gain in the last 24 hours. The main fuel for Tron is the release of USDD stablecoin and constant buyouts on the market.

Previously, U.Today covered that Justin Sun, who is behind the Tron DAO, announced the purchase of 600 million TRX coins, which ‌allowed Tron to withhold the massive selling pressure across the cryptocurrency market.

Terra Initiates Proposal to Burn Remaining UST

But since Terra's stablecoin has failed miserably, investors do not feel secure investing in an asset with a similar pegging mechanism.

Axie Infinity

The token of the industry-leading Axie Infinity P2E game does not seem to care about the performance of other digital assets like Bitcoin or Ethereum as it gained almost 9% in the last 24 hours.

XRP Declines to $0.37 as Whales Move 440.3 Million Tokens

Axie's performance looks even more impressive if we put it against Bitcoin or Ethereum pairs.

"Crypto gold" in demand

As USD inflation is on the rise, stablecoins are losing trust, and Bitcoin has dropped by 20% in recent days and gold has gained more attention from investors as both inflation and volatility hedge, while almost every financial asset out there is heavily underperforming.

PAXG is a cryptocurrency asset backed by actual gold at a 1:1 ratio. The company behind it offers a real exchange of PAXG tokens to gold bars whenever investors wish.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.