• The article discusses the potential for a new wave of COVID-19 infections and the possibility of another lockdown.
• It explores why Dogecoin (DOGE), RenQ Finance (RENQ), and Cardano (ADA) could be good investments in this scenario.
• Dogecoin has seen a surge in popularity due to its accessibility, while RenQ Finance provides liquidity solutions for the crypto market, and Cardano is one of the top altcoins in terms of market cap.
The Risk of Another Lockdown
The world has been grappling with the COVID-19 pandemic for over a year, and while vaccines have been rolled out in many countries, there are still concerns about new variants, vaccine hesitancy, and the potential for new waves of infections. Some experts have warned that another lockdown could be necessary if the situation worsens. If that happens, some cryptocurrencies could see a surge in demand and value as people turn to digital assets as a store of value and means of exchange in a disrupted economy.
Dogecoin is a popular meme coin that was created in 2013 and is still considered the largest meme coin by market cap. Elon Musk’s tweet in 2021 led to a sudden surge in DOGE’s value, which hit a new high of $0.73. With Musk continuing to support DOGE, the coin is still thriving. Initially created as a joke, DOGE was meant to be a fun take on the world of crypto, but it became a significant part of it. However, its large token supply and lack of utility have historically affected its value. Nonetheless, DOGE has become popular for sending international transfers. Despite its drawbacks, DOGE remains one of the top altcoins in terms of market cap, with a value of $9.9 million. In the event of a new lockdown, DOGE’s popularity and accessibility could make it an attractive option for people looking to invest in digital assets for entertainment and potential profit..
RenQ Finance (RENQ)
RenQ Finance is a decentralized finance (DeFi) platform that offers liquidity solutions for the crypto market. The platform’s main focus is to provide users with secure access to their funds so they can exchange or trade digital assets using AI technology to get them best possible prices available at any given time . Through RENQ users can stake their coins , lend or borrow money from other users . RENQ also provides features like staking , lending , borrowing etc . In case there’s another lockdown , DeFi platforms like RENQ will surely gain traction due their credibility , security protocols & user friendly interface .
Cardano is an open source blockchain project created by Charles Hoskinson’s IOHK team with ADA being its native cryptocurrency token . The platform focuses on smart contract development & decentralised applications providing scalability & sustainability through ongoing research & development activities . ADA has seen consistent growth since 2021 when it reached up till $1 mark & currently holds 8th position among all major Cryptocurrencies with total Market Cap above 40 Billion USD . In case there’s another COVID induced lockdown , ADA might witness yet again bullish momentum given its past performance & growing adoption among investors worldwide .
It remains too soon to tell if another wave or second lockdown will occur due to COVID-19 related risks; however if such an event were to happen then certain cryptos such as Dogecoin (DOGE), Renq Finance (RENQ) & Cardano(ADA) may see increased demand & price appreciation due their current popularity levels alongwith use cases they offer respectively