The latest market developments in the crypto world are unsettling. The prices of major cryptocurrencies fell over the past few weeks, with investors selling off their holdings. As a result, it is understandable that investors take a cautious approach when investing in crypto projects, especially in the current environment. Let’s explore the main reason why the crypto market is under pressure. We will also look at how JumpTask will guide us through the current market conditions with the help of the gig economy and its utility proposition.
TL;DR
- Recent macroeconomic changes - central banks raising interest rates globally due to rising inflation - are causing fluctuations in crypto, stock and bond markets- With most cryptocurrencies experiencing losses, JumpToken remains stable due to its robust structure and the sector it seeks to target - global gig economy- The token’s internal mechanism has an in-built demand that maintains its price stability. As new partners join the platform more tokens are purchased constantly, which supports their price.- JMPT is set to dominate the global gig economy sector. The industry is expected to grow by 50% in the next 7 years, with the industry’s volume expected to exceed $400bn this year.
Macroeconomic Changes
One of the reasons for the downward market sentiment is the changing macroeconomic conditions. As central banks raise interest rates globally to keep inflation in check, stock and crypto markets are affected. Therefore, the current crypto downturn is partly due to economic fluctuations affecting multiple markets, including stocks and bonds.
However, fluctuations are common because markets go through cycles. There are times when there is positivity in the market, stocks provide good returns, and investor demand for risky assets rises. On the other hand, negative market returns are also possible, and investors should be mindful of these risks. Additionally, this is not the first time crypto markets are experiencing a decline, as do other markets throughout the cycle.
The key to navigating difficult market conditions is to perform due diligence on the project you are investing in. Cryptocurrency-based projects with fundamental value will stay in operation and continue to grow, even when the market is experiencing a decline.
JumpTask Value Proposition
JumpTask uses its utility token — JMPT — which, unlike many projects nowadays, has real token utility, making it more stable. With most cryptocurrencies experiencing losses, JumpToken maintains its value due to its robust structure.
The token’s internal mechanism has an in-built demand that maintains its price level. As mentioned in our previous article on JMPT utilization, all transactions between users and partners happen in JMPT. When our partners list their tasks on the platform, they purchase tokens, which are transferred to users to pay for task completion. As more companies join the JumpTask ecosystem, this results in a constant and growing demand for JMPT — which supports its price. Due to internal mechanics, JumpTask can withstand turbulent market conditions.
JumpTask is entering the micro-task space where well-established companies such as Amazon and Google have offerings too. For example, Amazon Mechanical Turk and Google Task Mate seek to enable businesses to offer various tasks to workers globally. The task list includes hundreds of variations: from simple captcha completion to app testing to text translations — the selection is vast. Therefore, JumpTask is joining a massive industry with its unique value proposition. It seeks to create a decentralized platform with multiple in-demand and simple tasks and offer them to the global workforce.
JMPT — Utility Powering the Gig Economy
JumpTask targets to dominate the gig-economy and due to the sector’s global scale and growth the company will inevitably be a major player in the industry. The gig workforce is estimated to grow by 50% over the next 7 years and is expected to exceed $400bn this year. Therefore, the JumpTask ecosystem supports the growing global community of gig workers that search for ways to earn beyond their regular income. As a result, even if the general crypto market is experiencing a decline, the JMPT token is used by workers in a high-growth sector, which makes the token immune to extreme fluctuations.
Another characteristic of the gig-economy is that its participants require flexibility, which JumpTask delivers. The company offers a platform where workers have freedom of choice. For example, they can select which tasks to complete and when, from anywhere in the world. This creates value for both sides of the gig-economy equation: businesses get instant access to a global workforce, while workers have flexibility of choice.
Overall, the JumpToken is well-built to hold its value against general crypto market fluctuations. It has a constant demand mechanism, which acts as a self-reinforcing loop: as more partners join, they purchase large amounts of JMPT, which ultimately supports its price. To top it all off — JumpTask is set to transform a sector which has a strong growth potential — the future gig economy.
Liking what you hear? Sign up on JumpTask. Invest in $JMPT. Join the revolution.
