Diving Deep with the Abyss Token
What Ethereum based token has 11,500+ holders, a market cap of almost 9 million that is currently trending and expanding and climbing the charts? If you guessed the Abyss token, you would be correct! We’re excited about this Ethereum based beauty and we just had to share it with all our readers.
Cryptocurrencies have been making headlines for the last decade. Most of you should already be familiar with Bitcoin because it was the first to the party and the most popular coin right now. However, there are many other exciting coins and tokens built on the Ethereum blockchain that many people don’t know about. Abyss token is one of those tokens.
It is built on the Ethereum blockchain and can be traded on several exchange platforms to get other tokens and cryptocurrencies. In this article, I will discuss all the basics of this token, including how it was created, its future, and why it is a good long-term investment.
What is an Abyss Token?
Abyss token is the native cryptocurrency used on the Abyss finance platforms. This token is currently used as the medium of exchange on the various platforms run by Abyss finance, including their Gaming platform (theabyss.com and the Non-Fungible Token (NFT) Marketplace.
Community members who own this token can earn extra income by staking the token for a certain period or setting up master nodes that offer computing resources. This token was introduced to the market in 2019 when the platform launched. Its price has been fluctuating between $0.02 and 0.09 in the last few years. The all-time high for abyss token was $0.132 in April 2021.
Stompy’s Abyss Quick Chart Analysis
Abyss has experienced a downward market trend along side almost all cryptocurrencies during the mid-term elections, however we feel strongly that Abyss will spring back. Taking a look at our in-depth Abyss chart below should help give everyone an idea of where Abyss stands in the crypto-verse.
We like to look at these long-term investment coins in just that, the long-term view as when someone makes a long-term investment, they are generally planning on holding that asset for years or even decades. These are not overnight pump and dump coins and are intended for those holders willing to hold and continue to hold.
How does Abyss token work?
To understand how Abyss token is used, it is essential to know how Abyss as a platform works. Abyss finance has two major platforms, including the decentralized Gaming platform and the NFT marketplace.
On the Gaming platform, users can get involved in the games and earn Abyss tokens through referrals. They can then use these tokens within the platform or exchange them on several decentralized exchange platforms for other tokens of their choice. Gamers are also rewarded with Abyss tokens when they participate in tournaments and win.
Users of the platform will also earn abyss tokens when they refer more people to join and subscribe to the games. Players can also earn Abyss tokens in the NFT marketplace, where players can sell several in-game items as NFTs. The medium of exchange for buying and selling NFTs is Abyss tokens. So, you will need to have these tokens to buy any NFT on Abyss’ marketplace.
The good news is you can trade Abyss tokens on several exchange platforms including, UniSwap, BitForex, Hotbit, Bittrex, and many more. It is not available on popular centralized exchange platforms, so you won’t be able to convert it to fiat and vice-versa.
The Potential for Abyss is GARGANTUAN.
- Decentralized gaming is the future: As gaming becomes more decentralized, the Abyss gaming platform will gain more users, further strengthening the value of their token.
- The fixed supply of tokens: Over 45% out of the 508,628,132 Abyss tokens are already in supply. When all the coins get into supply, the price for each token will likely go up due to an increase in demand against fixed supply.
- Mass Awareness: Cryptocurrency is still a new concept overall and most people on earth have never heard of it. However, with the way crypto is evolving and being adapted into our everyday lives, it is just a matter of time before everyone is using it in some way.
Once everybody starts to use cryptocurrency there will naturally be more holders for all these coins that exist today, raising the value of your coins if you buy them today rather than in 10 years from now. The tricky part is finding a winning horse so to speak, the Abyss token looks like a great prospect and is poised for greatness soon in our opinion.
For all these reasons, we believe that Abyss is a worthy rival betwixt other top Ethereum competitors, and we are hopeful for its future. With as volatile as cryptocurrency is it is never possible to predict what may or may not happen but with a strong tokenomic backbone, you can see glimpses of the future within some coins/tokens.
Secure your Abyss investment!
This brings us to our most important advice with Abyss, if you’re going to invest, you’ll most likely want to have the most secure way possible to store it in for safekeeping. There have been many people that have lost their investments, large and small all because they put their faith in the wrong wallets or exchanges.
Regardless of what any exchange/software wallet may claim when it comes to its security, nothing is entirely safe if its data is stored online. This leaves many holders vulnerable and once your crypto is gone, it is more than likely impossible to be recovered at that point. This is exactly why we stress this in nearly every article on our blog, it is the most essential aspect of investing in cryptocurrency.
With all the misinformation online today, it can be hard to tell who to believe, with that said you should believe us when we say there is no better way to safely store your cryptocurrency than on a personal cold-storage hardware wallet such as Trezor. This allows all your cryptocurrency to be stored in your own hands physically which keeps it from being able to be accessed online entirely.
Trezor is by far the most secure hardware wallet available to date in our opinion and is the only method of crypto storage that we fully recommend. Trezor is an affordable option for the average-joe and ensures that your investment will always be protected. To learn more about Trezor please check out the buttons below.
What’s the best way to purchase Abyss?
Abyss is conveniently available on a wide variety of exchanges and exactly where you purchase it is completely your preference. We recommend using our own Stompy exchange right here at Coin Stomper. Compatible with Trezor and Ledger to connect directly and swap your Ethereum to Abyss.
Stompy’s Abyss Conclusion
We feel strongly that Abyss will be a token that long-term investment seekers will be sure to love as its future looks very bright. With cryptocurrency being mass adopted globally over the next decade we feel that Abyss has the potential to grow exponentially and for that reason, we rate Abyss a 5/5 for its tremendous investment potential. We wish Abyss and all its holders the best of luck and look forward to the future! As always, we implore you to research more into this token before making an investment decision using their links below.
Learn More About ABYSS
This is NOT Financial AdviceStompy always recommends doing your own research before making an investment decision.