The crypto market is suffering its biggest daily decline since June when some top cryptos were called securities. To cushion the effect of the losses, many crypto investors are now turning to two cryptos: Tether (USDT) and Watchvestor (WVTR). Find out why these cryptos are now the top options for investors in the bear crypto market.
Tether (USDT) Trading Volume Spike in the Bear Market
With the crypto market in deep bear territory, many crypto investors and traders have reverted back to Tether (USDT) – the number one stablecoin. Offering immunity from the volatility of the crypto market, the UDST coin has seen a spike in its daily trading volume.
Over the last 24 hours, the trading volume of the Tether coin has gone up by more than 94%. In the period, more than $52.2 billion worth of stablecoin has been traded across the crypto market. Backed by fiat currencies, Tether has maintained its 1:1 peg with the USD.
Despite the surge in the trading volume of Tether, some investors have been redeeming the stablecoin for USD. In the last three days, more than $500 million worth of USDT has been redeemed. As a result, Tether now has a market cap of $82.79 billion.
Investors Turn To Watchvestor for Secured Growth
Iconic and exclusive watches have long been used as stores of value. However, with many costing over $10,000, only a few investors have the chance to enter the luxury watch market. Watchvestor is launching to bring down that barrier using the fractional ownership model.
This new luxury watch marketplace will allow users to fractionally buy, sell and invest in rare and collectible watches from renowned brands such as Rolex, Richard Mille, and Patek Philippe. These watches will be listed on the marketplace as fractional NFTs while the physical watches are stored in secure vaults.
These fractional NFTs can be used as proof of authenticity for the real watches and can be traded on Watchvestor’s secondary market or on an Ethereum-based third-party NFT marketplace such as Opensea. In addition, holders can use the NFTs as collateral to collect loans, further adding liquidity to the luxury watch industry.
Unlike the volatile crypto market going, the luxury watch industry has one trajectory – upwards. The watch market’s annual appreciation rate is 40.6%, guaranteeing investors of massive interest over the years. This makes Watchvestor a great avenue for investors to build their portfolios.
The growth potential offered by Watchvestor is contributing to the increasing popularity of its platform. As the platform grows, crypto experts have predicted that its utility token, WVTR, will increase alongside. At the time of this writing, WVTR trades at $0.03 in its first presale stage but has been forecasted to reach highs of $0.1 at launch.
Find out more about the Watchvestor (WVTR) Presale Today:
Telegram Community: https://t.me/WatchvestorOfficial
Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here.