Topic: A promising coin (Read 78 times)
I trust Bitcoin more, since this is the first cryptocurrency that has appeared and this currency is constantly growing in price. Quite a lot of people successfully earn on it. I have heard that some use trading software for this process. I would like to do the same cryptocurrency, but so far I have no free finances for this.
Take note of the people responding to your post..
Be extremely careful when investing in highly-speculative tokens that promise huge gains. They are almost entirely a bunch of scams. The amount of rug-pulls the past year has been astounding.
All the devs for all of these projects, however, all spread good intentions on social media. Whether these intentions were actually good is irrelevant. The fact is, investing in these obscure alt coins is more like gambling than investing.
Be extremely careful when investing in highly-speculative tokens that promise huge gains. They are almost entirely a bunch of scams. The amount of rug-pulls the past year has been astounding.
All the devs for all of these projects, however, all spread good intentions on social media. Whether these intentions were actually good is irrelevant. The fact is, investing in these obscure alt coins is more like gambling than investing.
I think Bitcoin and Ethereum are the best to invest in. This also corners the attention of many investors as they are investing in this coin.
Are you looking for digital assets with low intrinsic value or looking for digital assets with low extrinsic value?
A digital asset with high extrinsic value might be something of a gamble, something like DogeCoin, Shiba Inu or literally any other meme coins.
If you're looking for someone to give you advice on which coin like this will moon next, nobody knows as it's purely speculative and based on gamble.
Instead, if you're playing the long term game and want to invest in something that will 2x - 10x, then I'd definitely recommend Matic/Polygon. Here are my thoughts
and why it's a safe investment at current price $1.38 on 24th January, 2022.
About the project
In the current state, Matic/Polygon provides an EVM chain with low fees, easily accessible via web3 through all major wallets (MetaMask, TrustWallet, etc.)
Its objectives are that of combining the advantages of Ethereum's chain with a few further technological improvements, that will result in lower gas fees and faster
transaction execution.
Recent Achievements
I won't go over all products, but I believe Polygon team has a great influence in DeFi / NFT space, and I wouldn't be surprised if they'll continue to keep that influence and be successful maintaining it.
In the most recent months we've seen large achievements such as:
Using Polygon's gas tracker, https://polygonscan.com/gastracker
we can see that there is actual gas usage and volume, with largest players being:
- OpenSea's ZeroExFeeWrapper
- a few smart contracts that seem to carry trading activities (buy tokens / sell tokens)
- UnsiwapV3
- 1inch
Compared to other meme coins, Matic will always have a good use case as people need to buy to pay for gas fees.
My favourite statistics is the number of unique addresses
We can compare polygon to binance smart chain
https://polygonscan.com/chart/address
IMG of state: https://i.imgur.com/Enx2i7q.png
https://bscscan.com/chart/address
IMG of state: https://i.imgur.com/8gLgHq6.png
We can clearly see that Polygon's number of addresses grew to be the same of Binance Smart Chain, but within a shorter period of time.
Polygon/Matic also seems to be well targeted to Ethereum users who suffer from large gas fees. There are plenty of articles talking about how
Polygon will be used even whent Ethereum 2.0 is deployed https://decrypt.co/79272/what-does-ethereum-2-0-mean-scaling-solutions-polygon
Market Cap
In my opinion the market cap gives us a speculative idea whether or not there is some room to grow. Current Ethereum's market cap is $277,097,337,221 (it reached $560B at its peak)
Polygon market cap is just $10,689,095,357 ($10.6B)
Its next competitor is BSC with $58,782,934,115 (it reached $109B at its peak)
Downside
There aren't many. Perhaps the only negative is that if Ethereum's price continues to go down and make all transactions affordable, there is little to no reason for using Polygon.
Just like a quote from a famous movie says, "Nobody knows if the stock's going to go up, down, sideways, or in fu**ing circles". Your best option is to hold your crypto long term as long as your token/crypto has utility.
A digital asset with high extrinsic value might be something of a gamble, something like DogeCoin, Shiba Inu or literally any other meme coins.
If you're looking for someone to give you advice on which coin like this will moon next, nobody knows as it's purely speculative and based on gamble.
Instead, if you're playing the long term game and want to invest in something that will 2x - 10x, then I'd definitely recommend Matic/Polygon. Here are my thoughts
and why it's a safe investment at current price $1.38 on 24th January, 2022.
About the project
In the current state, Matic/Polygon provides an EVM chain with low fees, easily accessible via web3 through all major wallets (MetaMask, TrustWallet, etc.)
Its objectives are that of combining the advantages of Ethereum's chain with a few further technological improvements, that will result in lower gas fees and faster
transaction execution.
Recent Achievements
I won't go over all products, but I believe Polygon team has a great influence in DeFi / NFT space, and I wouldn't be surprised if they'll continue to keep that influence and be successful maintaining it.
In the most recent months we've seen large achievements such as:
- UniswapV3 (the first chain other than Ethereum or its L2 arbitrum/optimism that UniswapV3 was released on)
- Strong usage with NFTs on OpenSea
- Tokemak potential discussions of deploying on Polygon
Using Polygon's gas tracker, https://polygonscan.com/gastracker
we can see that there is actual gas usage and volume, with largest players being:
- OpenSea's ZeroExFeeWrapper
- a few smart contracts that seem to carry trading activities (buy tokens / sell tokens)
- UnsiwapV3
- 1inch
Compared to other meme coins, Matic will always have a good use case as people need to buy to pay for gas fees.
My favourite statistics is the number of unique addresses
We can compare polygon to binance smart chain
https://polygonscan.com/chart/address
IMG of state: https://i.imgur.com/Enx2i7q.png
https://bscscan.com/chart/address
IMG of state: https://i.imgur.com/8gLgHq6.png
We can clearly see that Polygon's number of addresses grew to be the same of Binance Smart Chain, but within a shorter period of time.
Polygon/Matic also seems to be well targeted to Ethereum users who suffer from large gas fees. There are plenty of articles talking about how
Polygon will be used even whent Ethereum 2.0 is deployed https://decrypt.co/79272/what-does-ethereum-2-0-mean-scaling-solutions-polygon
Market Cap
In my opinion the market cap gives us a speculative idea whether or not there is some room to grow. Current Ethereum's market cap is $277,097,337,221 (it reached $560B at its peak)
Polygon market cap is just $10,689,095,357 ($10.6B)
Its next competitor is BSC with $58,782,934,115 (it reached $109B at its peak)
Downside
There aren't many. Perhaps the only negative is that if Ethereum's price continues to go down and make all transactions affordable, there is little to no reason for using Polygon.
Just like a quote from a famous movie says, "Nobody knows if the stock's going to go up, down, sideways, or in fu**ing circles". Your best option is to hold your crypto long term as long as your token/crypto has utility.
What else is there to invest in? Are there any promising altcoins?
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