The recent market trend is finally looking up as the last part of 2022 took a downward spiral and numerous cryptocurrencies have begun declining in value.
Certain cryptocurrency traders or investors either held onto their tokens or began massive sell-offs, pushing the value of specific cryptocurrencies down even further. However, despite all the noise and downward market trends, two cryptocurrencies stood tall and began increasing in value.
These cryptocurrencies are GMX ($GMX) And BudBlockz ($BLUNT), and today, we will be exploring why they have experienced growth while others experienced a decline.
Why GMX ($GMX) Grows in Value Against Market Trend
GMX is a decentralized exchange that lets users trade different types of popular cryptocurrencies directly from their cryptocurrency wallets.
The platform specializes in enabling users to do spot swaps and even trade perpetual futures with high leverage.
One of the key reasons for the growth of its native cryptocurrency, $GMX, is because, unlike centralized exchanges, each user of GMX keeps custody of their assets by using their cryptocurrency wallet.
The user is in full control of their crypto, not the exchange. Additionally, GMX, as an exchange, competes with its low swap fees and zero-price impact trades.
The value of $GMX came after cryptocurrency investors and traders started embracing decentralization instead of relying on centralized solutions.
Why BudBlockz ($BLUNT) Grows in Value Against Market Trend
BudBlockz, on the other hand, grew in value despite the market trend because it enables an innovative way through which any investor can gain access to the cannabis industry.
This previously difficult-to-access asset class can now be accessed through an e-commerce platform.
Any holder of the $BLUNT cryptocurrency can gain access to the marketplace and transact using a peer-to-peer (P2P) network, which ensures a higher level of privacy and anonymity among users.
Each user can also have fractional ownership, and the platform connects dispensaries, farms, and CBD manufacturers with enthusiastic people about the industry.
$BLUNT is the native cryptocurrency of the platform. It allows each holder to earn rewards and access the entire ecosystem, including Play-to-Earn (P2E) games and will feature the Ganja Guruz NFT collection consisting of 10,000 unique NFTs.
The legality of cannabis within regions such as the United States and other countries has started, and experts have forecasted that the industry can grow to $176.5 billion within the next decade.
BudBlockz gives investors access to an asset class that was previously difficult to access, grants a high level of anonymity, and enables fractionalized ownership, so anyone can buy what they are interested in without needing a huge budget.
It is why $BLUNT has managed to grow against the market trend and will likely carry on this growth trend in the future.
