With over 35% of adults in Nigeria dabbling in cryptocurrency within the last year, It is no surprise that the current state of the Crypto market has caused concern for quite a few crypto lovers. It has been a difficult month for the crypto portfolios of many.
As Nigerians, young and old, turned to crypto as a way to safeguard against the weakening Naira, it served most well as 2021 saw a big crypto boom. However, in the last week, most of our crypto portfolios have taken a turn for the worse.
Crypto favourites Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE), which play a part in almost all Nigerian crypto portfolios, have each fallen by large amounts in the last week. Bitcoin is currently trading at 17% lower, ETH is down 16.5%, and DOGE has lost 12.8%. At a time like this, many are choosing to move some of their funds into stable coins or low market cap tokens that are growing in the face of adversity. One such token is Mushe (XMU). Whilst others have been suffering, XMU tokens are thriving, rising 63.7% in the past two weeks.
Since the Mushe presale began on April 18th, the token price has multiplied fivefold, going from just $0.005 to $0.026 per token. Many Nigerians are looking toward Mushe as a way to diversify their portfolios and defend against the broader market losses that we have seen in the past month. The presale can be accessed at www.mushe.world
For newcomers to the crypto world, rapid growth is common for newer tokens as they gain traction and begin to join exchanges. Stepn (GMT), a token which launched in March, is a prime example of this growing from $0.10 on launch to $2.231 at the time of writing; what makes this feat even more impressive is that today the token is down 16% but day one investors would have still seen a return of over 2100% on their initial purchase.
For Mushe seeing a 400% gain over the previous three weeks has led analysts to believe the token will exceed all initial expectations and has the potential to go beyond its targeted launch a price of $0.05 per token before July 4.
The traction of the XMU token has partially been linked to its exciting roadmap, which shows the Mushe team are planning to launch a decentralised exchange called MusheSwap which will allow customers to buy, trade and exchange all types of tokens regardless of the blockchain network they are built on. The roadmap also talks about a metaverse offering called the MusheVerse, offering ways to earn XMU tokens and buy or sell digital assets such as NFTs and virtual land.
In the past few days, Mushe announced it will switch from the Ethereum blockchain to the Solana and Stellar blockchain networks allowing them to host more users and perform transactions faster and at a cheaper rate. The news has been received well across crypto communities worldwide.
Learn more about Mushe (XMU)
Official Website: https://www.mushe.world/
Presale Registration: https://portal.mushe.world/sign-up
Telegram: https://t.me/MusheWorldXMU
Twitter: https://twitter.com/Mushe_World
Instagram: https://www.instagram.com/mushe_world/
Adedapo Adesanya