The crypt winter caused many minor coins to disappear into obscurity. With issues plaguing the global economy, many investors are afraid to take on significant risks.
Even S&P500 has been a weak performer losing over 27% of its value throughout the year. It is hard to find something promising and safe.
In these trying times, many projects did not risk rolling out as planned. Some decided to completely cancel their ICOs.
Some delayed their releases indefinitely with a slim chance of renewing development. However, we still saw some new arrivals to the industry.
A new face on the block
While many other networks are trying to outcompete each other with the power of proving utility, other coins are doing it by rallying the community behind them.
Memecoins are a significant part of the market, even during the bear market. While they may not have the same authority and market share as major coins, DOGE and Shiba Inu are two projects that managed to create strong communities that believe in the future with these tokens.
Their market sector is being contested by a new arrival Rocketize. The native token is JATO. It is one of the most interesting additions to the market that should start trading at the beginning of 2023.
Many experts recognize the utility of the network that promises to be the biggest competitor of Litecoin if everything goes according to plan.
The only issue is that the market is not interested in concepts that have not been proven.
Even established competitors to huge coins are struggling to maintain the same level of attention. Cardano, Polygon, and Litecoin are all doing relatively fine but do not have a strong potential for a bull run in the immediate future.
Rocketize may change the industry
Among many new tokens, Rocketize has the biggest potential due to a strong community and a weakening market where everyone will be on a level playing field.
The first quarter of 2023 promises to be quite intriguing. Keeping an eye on JATO is highly recommended if you are interested in investing in crypto.