Memes are a staple in the crypto community. We have seen many and even developed meme coins from the all-famous (and hilarious!) captioned pictures. From DOGE to SHIB and more, the meme and crypto community are continuously being creative as we all HODL the market.

As NAGAX embraces memes we are hosting a Meme Competition! 👉 Continue reading below to learn how you can enter in 2 easy steps and win up to 500 worth of NAGA Coins!


## Get Creative and Meme On!

We are rewarding the top 3 most creative people to caption this meme up to 500 in NAGA Coin! 

➡️ Be sure to follow our official Instagram page [@NAGAX_Official](https://www.instagram.com/nagax_official/) and comment below on how you would caption it linking to the amazing crypto world!


## The Prize

🥇 1st Place - 500 NAGA Coins (NGC)

🥈 2nd Place - 300 NAGA Coins (NGC)


🥉 3rd Place - 100 NAGA Coins (NGC)


## Why is NAGA Coin (NGC) So Valuable?

NAGA Coin (NGC) is NAGA’s native utility token. The NAGA Coin is your gateway to exclusive benefits within the NAGAX ecosystem. With up to 90% discount on fees, premium tiers, and more, NAGA Coin is exactly what crypto whales might be looking for.

To read more about NAGA Coin’s exclusive benefits and how to buy it [click here](https://app.nagax.com/help-center/faq/get-started-31/how-to-get-exclusive-benefits-through-owning-naga-coin-ngc-15399375?lang=en).


## NAGAX Meme Competition Terms & Conditions

**Dates:**
May 12th - May 20th, 2022

**Platform:**
[NAGAX’s Official Instagram](https://www.instagram.com/nagax_official/)

**Contest Participation Rules:**
To be eligible for the NAGAX Meme Competition users must complete the following:
Follow us on Instagram @NAGAX_Official.
Comment between May 12th - May 20th on the official NAGAX Meme Competition post how you would caption that picture. Be sure to spread the word about the competition.
Comments should relate to crypto! The funnier the better!
The top 3 winners will be chosen and notified via Instagram story no later than May 28th, 2022.

**Prize:**
The prizes are as follows:
1st Place - 500 NAGA Coins (NGC)
2nd Place - 300 NAGA Coins (NGC)
3rd Place - 100 NAGA Coins (NGC)

**Winners:**
Winners will be chosen by NAGAX representatives and will be announced via Instagram story.
Winners will only be able to accept the NAGA Coins through their NAGAX Wallet. To get a NAGAX Wallet, users can sign up for free at https://nagax.com/.
If there is no response from the chosen winners within 48-hours of notification, NAGAX reserves the right to rescind the winning offer and choose another winner in place. 

**Terms & Conditions:**
The contest opens on May 12, 2022, and ends on May 20, 2022
By participating in the competition/contest you agree to the release of information to NAGAX. Your meme caption could be shared boundlessly to the NAGAX platform and other social media entities.
This content is not endorsed, sponsored, or administered by Instagram, nor is Instagram associated with it in any other way.
NAGAX reserves the right to disqualify those contestants who disobey contest rules or damage the NAGAX, or its affiliate's, reputation in any way.
Three winners will be chosen


If you have any questions, please reach out to [support@nagax.com](mailto:support@nagax.com). 


NAGAX reserves the right to interpret successful applicants to be chosen. The prizes are non-transferable and non-convertible to cash. The winners will be chosen by NAGAX representatives. NAGAX reserves the right to disqualify any applicant with plagiarized or malicious work or who does not comply with the terms and conditions above, or in any way would damage the NAGAX or its subsequent brands’ reputation. By accepting the terms and conditions, as well as submitting your entry to the NAGAX Meme Competition, you hereby understand and agree that your personal data may be processed in accordance with NAGAX’s Privacy Policy.

*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Memes are a staple in the crypto community. As NAGAX embraces memes we are hosting a Meme Competition!  Continue reading the NAGAX Blog to learn how you can enter in 2 easy steps and win up to 500 worth of NAGA Coins!

Can you even Meme? NAGAX's Meme Competition is On! | NAGAX Blog

Read the latest NAGAX news & gain insights from analysis of what's currently happening in the markets around the world.

NAGAX Blog | Updates

NAGAX Updates

Memes are a staple in the crypto community. As NAGAX embraces memes we are hosting a Meme Competition!  👉 Continue reading to learn how you can enter in 2 easy steps and win up to 500 worth of NAGA Coins!

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NAGAX- Meme Competition

Can you even Meme? NAGAX's Meme Competition is On!

NAGAX is continually giving users the best offering in digital assets. As we continue to push the boundaries and reshape what crypto trading platforms are, we are happy to announce three new digital assets you can buy, sell, and trade at NAGAX!

Continue reading for more on these new drops.

## APECoin (APE)

Although this coin has been compatible with the NAGAX Wallet since its ICO, we are so happy to be embracing the Bored Apes and announce that NAGAX users can now buy and sell this P2E and meme coin on our platform.

Launched recently, [APE Coin](https://exchange.nagax.com/trade/APE-USDT) was founded in correlation to the popularity of the Bored Ape Yacht Club NFT collection. Now venturing into new play to earn territory with, [“The Otherside”](https://nagax.com/news-and-analysis/articles/from-jungle-to-the-moon-is-the-otherside-the-biggest-mint-in-history) many crypto enthusiasts are standing strongly behind this neo coin.

## USD Coin (USDC)

USDC is a stablecoin that is an Ethereum-based digital asset pegged 1:1 to the US Dollar. Launched in 2018, the [USDC](https://exchange.nagax.com/trade/USDC-USDT) allows for tokenized dollars to be sent in the lightning-fast blockchain that we all know of.

USDC was developed and founded by a company called the Centre Consortium, whose main business is the development of new technology and the governing of the USD Coin. Unlike the crash and burn of [LUNA recently](https://nagax.com/news-and-analysis/articles/ust-lost-its-peg-to-usd-what-does-this-mean-for-luna), 

## The Sandbox (SAND)

Launched in 2011, the Sandbox creates a decentralized platform incorporating NFTs, DAO, and a thriving P2E gaming community. As P2E continues to grow even more in 2022 SAND seems to be on the rise. 

Looking at the bigger picture, the Sandbox incorporates the powers of blockchain technology by introducing the [SAND](https://exchange.nagax.com/trade/SAND-USDT) utility token, which facilitates transactions on the platform. Again, another token that is embracing the P2E lifestyle merging it into crypto and digital assets.

## The NAGAX Wallet

The NAGAX Wallet is a crypto trader’s ideal gateway to buy, sell, store, and HODL! With the ultimate security features and hundreds of crypto integration for storage, this hot wallet with 0 deposit fees is unlike anything you’ve seen before.

NAGAX provides an easy way to buy, sell and hold the world’s most popular cryptos. Features include:

- Multi-layer technology that combines the latest breakthroughs in MPC cryptography with hardware isolation.
- NAGAX's private keys are encrypted and there's no single point of compromise from both external hackers and insiders.

Lastly, in addition to these fresh coins, be sure to view our full offering here and know that we accept suggestions anytime for adding or incorporating new coins. To suggest new coins, please reach out to support@nagax.com. 




*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds.  Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


As we continue to push the boundaries and reshape what crypto trading platforms are, we are happy to announce three new digital assets you can buy, sell, and trade at NAGAX!

Hot Crypto Drops at NAGAX this Week! | NAGAX Blog

NAGAX is continually giving users the best offering in digital assets. As we continue to push the boundaries and reshape what crypto trading platforms are, we are happy to announce three new digital assets you can buy, sell, and trade at NAGAX!

large_New Releases_NAGAX_Blog.png

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Hot Crypto Drops at NAGAX this Week!

The current bear market of 2022 continues to disrupt all cryptocurrencies, including [non-fungible tokens (NFT)](https://app.nagax.com/academy/articles/what-is-an-nft-21513985?lang=en), and the decentralized finance market (Defi). Many link the crypto winter to the ongoing months-long conflict between Russia and Ukraine, as well as the US Federal Reserve’s recent interest rate hike.

However, the crypto space would be careless if it did not take into account the Terra (LUNA) and TerraUSD (UST) tragedy and its impact on the larger market. From a technical analysis perspective, Bitcoin's weakening market sentiment has taken away the confidence of many that it could be the best hedge against inflation and volatility. 

So, what scenarios are likely to emerge in the near future? 

## The Bull Run Isn’t Over Yet?

Much is unclear today, but there is one thing many analysts are predicting: the bear market could last for at least a year.

![BTCUSD_NAGAX_Blog_Crypto.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/BTCUSD_NAGAX_Blog_Crypto_cb58e4b0a0.png)

Today's crypto-winter is reminiscent of the 2018-2019 bear market when bitcoin and major cryptocurrencies collapsed after a euphoric rise in late 2017. So far, it has been one of the most memorable bear markets because of its duration and impact on the space as a whole.

Those who bought their first Bitcoin at the top witnessed their portfolio lose its value to $3,000 per BTC. In short, the bear market of 2018-2019 has been ‘brutal and bloody’. While the current crypto winter has many differences from the previous one, there are reasons to believe that the public sentiment is identical. After failing to meet expectations of a $100,000 rise, Bitcoin now comes in at less than $30,000.

Meanwhile, LUNA may have met its demise as it was worth $0.0002011 at the time of press, compared to its all-time high of $119 just a month ago. 

## Stablecoins Under Severe Test

Stablecoins are also taking huge hits. The UST is currently priced at less than $0.5 while Tether (USDT) fell to $0.98, which is uncharacteristic. This forced Tether to engage a third party to execute a chain exchange from Tron TRC-20 to Ethereum ERC-20 for USD1 billion and from Tron TRC-20 to Avalanche ARC-20 for USD20 million.

## Hard to Predict the Bottom

While most cryptocurrencies are now at a huge discount, it will be difficult to predict how low the market will fall. Leading altcoins such as XRP, ADA, DOT, and AVAX are very cheap, and many will be tempted to make an entry. 

However, traders and investors should exercise caution as there is no telling what the bottom will be. For those familiar with the market cycle, many will agree that most cryptocurrencies are in the proliferation stage. At this stage, people will try to close their positions, which will lead to a permanent sell-off.

Moving forward, the current state is considered uncharted territory, especially for those new to investing in cryptocurrencies. It would be good to look at both fundamental and technical analysis so that someone can come up with a more robust investment strategy.

## ‘Deep in a New Crypto Winter’

Cardano founder Charles Hoskinson said the so-called "crypto winter" will not have a major negative impact on the cryptocurrency industry.

In the expert's view, it will take weeks or even months for the market to recover from the current unprofitable situation. But first, a stable day needs to be achieved, that is the priority. Then it will take some time to gain strength.

The market crash in May has stalled the institutional adoption of Bitcoin and other digital currencies. Major players have now taken a wait-and-see approach. 

The demise of cryptocurrencies has been repeatedly predicted in the past, but Bitcoin and Ethereum are still here in 2022. In these critical times, there are still cryptocurrencies worth keeping an eye on. This is due to their value and unmatched resilience. A better understanding of currencies will give you a better chance of making an informed decision. 



*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in the loss of your invested funds.  Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


The current bear market of 2022 continues to disrupt all cryptos, including NFTs and the decentralized finance market (Defi).  Continue reading the NAGAX Blog for more on the Crypto Winter we are experiencing. 

Crypto Winter or a New Ice Age? Disaster or Buy-On-The-Dip Opportunity? | NAGAX Blog

Read the latest Crypto news & gain insights from analysis of what's currently happening in the markets around the world.

NAGAX Blog | Crypto

Crypto

The current bear market of 2022 continues to disrupt all cryptos, including NFTs and the decentralized finance market (Defi).  Continue reading for more on the Crypto Winter we are experiencing. 

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Crypto Winter or a New Ice Age? Disaster or Buy-On-The-Dip Opportunity?

It seems like everyone's eyes are glued to the chart at the moment, as Bitcoin and basically all cryptocurrencies are suffering one of the harshest crashes seen in a long time. 📉

However, just today, the market has slightly recovered, making several coins gain impressively over the night. 

![May 9 -13 Top Gainers and Losers.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/May_9_13_Top_Gainers_and_Losers_0bb7bff22e.png)

![btc (1).png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/btc_1_55814b2fa3.png)

**Bitcoin collapses and the ‘Extreme Fear’ grips the crypto market**

As we are all HODLing the financial markets have seen better days. The crypto market, in particular, has reached what some say is the ‘2022 Crypto Crash’, but what exactly caused this crash, and what could traders do at NAGAX in reaction to it? Read more in the article!

[Read More](https://nagax.com/news-and-analysis/articles/the-2022-crypto-crash-bitcoin-collapses)

![alt.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/alt_847d093b33.png)

**UST Lost Its Peg to USD - What does this mean for LUNA?**

Are stablecoins still “stable” in the volatile markets recently? UST is on shaky ground as news comes about Terra LUNA which collapsed to nearly zero and has wiped out the savings and investments of many people around the world. Read more about what happened in the article!

[Read More](https://nagax.com/news-and-analysis/articles/ust-lost-its-peg-to-usd-what-does-this-mean-for-luna)

![btc (3).png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/btc_3_05743af522.png)

**NFT Sneakers and the Move-To-Earn Trend: Get Rewarded While Jogging**

As the market for Non-Fungible Tokens (NFTs) evolves, big brands are springing up with more and more ways to engage audiences. Developers are coming up with new game-changing mechanisms to keep customers interested, and one of them is the "NFT sneakers". Why are NFT sneakers being made at all? Read more in the article!

[Read More](lhttps://nagax.com/news-and-analysis/articles/nft-sneakers-and-the-move-to-earn-trend-get-rewarded-while-jogging)

![NAGAX_Weekly_Crypto_Blog.png](https://s3.eu-west-1.amazonaws.com/blog.naga.com-storage/NAGAX_Weekly_Crypto_Blog_72851a06e0.png)

**Can you even Meme? NAGAX's Meme Competition is On!**

NAGAX embraces memes. We are hosting a Meme Competition! 👉 Continue reading below to learn how you can enter in 2 easy steps and win up to 500 NAGA Coins (NGC)!

[Read More](https://nagax.com/news-and-analysis/articles/can-you-even-meme-nagax-meme-competition-is-on)

Hold tight and see you next week! 



*Important Notice: Any news, opinions, research, analyses, prices, or other information contained on this feed are provided as general market commentary and do not constitute investment advice or solicitation for a transaction in any financial instrument or unsolicited financial promotions. All material published on the website is intended for informational purposes only. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. We do not make any warranties about the completeness, reliability, and accuracy of this market commentary. Past performance is not an indication of possible future performance. Any action you take upon the information on this feed is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this feed.*

*Risk Warning: Cryptocurrencies are highly volatile and trading can result in loss of your invested funds. Before investing you should be aware that cryptocurrencies may not be suitable for all investors. You should therefore carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and not invest money that you can not afford to lose.*


Let's dive into the NAGAX Weekly recap. 📝 From NFT news, to airdrops and more the NAGAX Blog is your ideal source for all things crypto news

NAGAX Weekly Recap 9 May - 13 May | NAGAX Blog

Read the latest crypto news of the week & gain insights from analysis of what's currently happening in the markets around the world.

NAGAX Blog | Weekly Recap

Weekly Recap

It seems like everyone's eyes are glued to the chart at the moment, as Bitcoin and basically all cryptocurrencies are suffering one of the harshest crashes seen in a long time. 📉 Let's get into this weeks review.

Easy and safe way to
buy and sell crypto

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Start Trading in 3 Steps

Super secure and fast crypto wallet with up to 90% savings in blockchain fees

FAQ

Easy and safe way tobuy and sell crypto

Hot assets

Start Trading in 3 Steps

Super secure and fast crypto wallet with up to 90% savings in blockchain fees

FAQ

Easy and safe way to
buy and sell crypto