HedgeUp (HDUP) to Combat the Recession As Binance (BNB) and Cardano (ADA) Investors Flock
Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Several cryptos currencies have experienced considerable drops in value this year, including well-known Cardano (ADA) and Binance (BNB). However, HedgeUp (HDUP) is a new crypto project that is currently running its first presale phase and has already started to garner much attention among investors.
The coin price of Binance has been under pressure over the past weeks and the main concerns have accelerated even further by the recent FTX collapse. Binance coin price has been on a downward spiral this month after Reuters, owned by Thomson Reuters Corporation, claimed that the Securities and Exchange Commission (SEC) is divided in launching an investigation into the exchange.
The main catalyst for the coin price was Binance’s FUD, which stands for fear, uncertainty, and double. It has resulted in a drop in the liquidity of the exchange. It has created a lot of concerns among crypto investors due to possible prosecution by the SEC and pushed the withdrawal volume to over $5 billion. The outflows have led the BNB to drop in value and its trading volume has been also slumped.
Cardano (ADA) is another major player in decentralized finance (DeFi) among other crypto projects, providing users with innovative solutions and a variety of features. Over the last few months, Cardano (ADA) has experienced a downward momentum in its value due to the continuous bull market and the collapse of the FTX exchange. The coin price action has introduced lots of uncertainties among crypto investors.
HedgeUp is a new buzzing crypto project in the marketplace that is going to offer more practical utility and value to investors, in contrast to many other
Read more on cryptonews.com
