Inery’s very first listing is live on Huobi, and many have asked us - why list in the middle of the bear market?
A bear market, by definition, refers to when the crypto and traditional markets experience prolonged price declines, often at least 20 percent of their previous high. In such markets, most investors become more risk-averse instead of risk-seeking.
The 2018 bear market lasted for 18 months, where prices of blue-chip cryptocurrencies like Bitcoin and Ethereum were slashed by 81% and 94%, respectively. In 2022, cryptocurrencies have been in a bear market for the past 7 months. Since their highest valuation in 2021 of over $3 trillion, the cryptocurrency markets have lost nearly $2 trillion in valuation.
Many are calling this period “the crypto winter”, but it doesn’t make Inery shiver.
Listing tokens and launching web3 projects in a bear market is not something many projects prefer. However, it is also during the tough times that many projects built their strong fundamentals. Successful NFT projects like CryptoKitties and Cryptopunks were launched at the end of the 2017 bull market, and are still holding their own in the market. Projects like MakerDAO, Uniswap and OpenSea weathered the last downturn and put their focus on building.
Inery believes that bear markets offer you the best chance for building and reflection. There’s less noise to distract you from acquiring knowledge. A bear market is a stress test where good projects are differentiated between hype and long-term value.
Inery has listed its native token, $INR, amidst the bear market. And for a good reason. The bear markets create an opportunity to focus and build robust systems and restore investor faith in decentralization. In addition, $INR has real token utility attached to its overall decentralized data system. The token has been listed on the Huobi exchange for trading on September 28, 2022 at 1 PM UTC.
Some benefits $INR users get include:
- Low transaction fees: Transaction costs in cryptocurrencies are relatively lower than conventional financial services. $INR is not left out, especially with the low transaction costs for both market makers and market takers that Huobi exchange offers.
- Accessibility and liquidity: One of the most significant advantages of digital assets is their borderless and permissionless nature, and $INR is no exception. $INR holders can instantly trade, transfer, or purchase products when merchants begin accepting them as a mode of payment. $INR can also be easily converted to fiat, giving users liquidity.
- Potential for high returns: We believe that $INR will be the next best blockchain token. Early holders have a considerable chance for massive returns when this happens.
- Staking rewards: $INR holders will be able to stake their tokens in liquidity pools and get rewarded with transaction fees and other staking rewards.
- Diversification: $INR will be a good addition to the users’ investment portfolio diversification, alongside other cryptocurrencies or traditional financial assets like stocks and bonds.
Listing tokens and launching web3 projects in a bear market is not something new. Here’s what our Founder Dr. Naveen Singh has to say about building in bear markets
“The bearish market conditions will present opportunities for the overall space to emerge much stronger than ever before. The weak projects lacking strong fundamentals and substance will eventually be overthrown in the decentralized space. And the mission driven projects that are backed by the right people and on right technological foundation will not only survive but also thrive in this atmosphere. These projects, whether they are metaverse, web3, gaming or blockchain, that sustain through the bear market will yield massive benefits and this will ultimately grow the entire industry.”
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