Moshnake, Dogecoin, and StepN: Creating a Diversified Cryptocurrency Portfolio
From meme coins to move-to-earns and play-to-earns, cryptocurrencies like Moshnake (MSH), Dogecoin (DOGE), and StepN (GMT) represent viable channels to build a solid crypto portfolio.
However, although cryptocurrencies are a unique class of assets compared to other investments, conventional investing principles still apply. This includes the significance of diversification in building a well-balanced cryptocurrency portfolio.
For traders accustomed to the stock market, crypto diversification presents fresh challenges. The risk and volatility of the cryptocurrency market make it harder to identify solid buys, and there aren’t any index funds that allow traders to buy a sizable group of cryptocurrencies collectively.
Below are three cryptocurrencies we believe could improve your crypto portfolio.
Users can choose from a list of NFT snakes and feed them with various eggs and in-game materials in the game arena. Want more competition? The game also features a battle royale arena where players can compete against each other.
As a community-based crypto platform, its BEP-20 governance token, the Moshnake token (MSH), will grant holders voting rights within the ecosystem. However, Moshnake (MSH) also has a BEP-20 in-game token, Venom (VEN), which is used to incentivize activities in the gaming environment.
Dogecoin — “Lord” Of The Meme Coins
Dogecoin (DOGE) is the largest meme coin on the coin market. The coin was launched in 2013 as a joke about the sudden rise of altcoins, following Bitcoin’s widespread popularity.
However, Dogecoin (DOGE) has since become a significant cryptocurrency asset for holders. Nicknamed the “King of the meme cryptocurrency ecosystem,” Dogecoin (DOGE) has garnered support from many high-profile individuals, including popular entrepreneur and billionaire Elon Musk.
The Tesla and SpaceX Chief Executive played a starring role in the boom of the meme cryptocurrency niche and Dogecoin’s (DOGE) rise to an all-time high of $0.73 in May 2021. Till today, Musk remains a devoted supporter of the meme coin.
Despite being significantly below its peak in 2021, Dogecoin (DOGE) is still among the top 10 cryptocurrencies. It continues to have a rapid adoption rate due to its rising popularity.
In recent cryptocurrency news, Sling TV, a TV streaming provider, announced that DOGE would be accepted as payment for its offerings. The announcement was further collaborated by BitPay, a cryptocurrency payment provider.
Step Out And Earn With StepN
StepN (GMT) is another cryptocurrency significantly below its all-time high, thanks to the 2022 crypto collapse. However, it remains the largest cryptocurrency by market cap of any move-to-earn cryptos in the coin market.
Green Metaverse Token (GMT), the governing token of the move-to-earn platform, has a market valuation of $399 million, ranking it among the top 100 cryptocurrencies across all niches.
Furthermore, StepN and GMT are the most popular move-to-earn crypto platform and coin, respectively, in terms of social engagement, Google trends, and LunarCrush data. Major cryptocurrency venture capital firms like Binance Labs and Alameda Research have also invested in them.
To start earning on the platform, players must first purchase NFT sneakers. However, GMT isn’t the only cryptocurrency earned on StepN (GMT). Whereas the governing token, GMT, is only earned by high-level players, the other common, in-game utility and reward token, GST, can be earned by all players.
In contrast to GMT, which has a fixed supply, GST (Green Satoshi Token) is inflationary. It may be as valued as GMT because once players earn it, they typically cash it in immediately for real money.
However, with the second-highest market cap behind GMT, GST continues to rank highly on the cryptocurrency market as one of the most popular move-to–earn crypto coins
One thing that makes our cryptocurrency list viable is that the assets are priced significantly lower than their perceived all-time highs. And as the coin market recovers, we may begin to see them rise again.
We also believe that Moshnake (MSH) is the next big cryptocurrency and will represent a solid buy for users that want to play and earn. To join the ongoing presale, click the link below.
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