Despite a predictable slump in the crypto market on Boxing Day, one contrarian token rallied – jumping over 22% in just 24 hours.
We’ll dive into the specifics of MATIC’s dramatic price appreciation, as well as a new altcoin that’s also forecast to see significant gains in the near future.
Christmas Comes Late for Polygon HODLers
Within 24 hours, MATIC (Polygon) jumped from $0.86 to $1.06 and a current market cap of $10.1 billion, placing it 12th among cryptocurrencies live today – according to CoinMarketCap. It leads tokens like MINA, ASTR and BSV in far outperforming the rest of the crypto market – which is currently down 0.01% over the last 24hrs.
Analyst and YouTuber, CryptoCache believes MATIC still has room to appreciate. Having scanned for Fair Value Gaps (FVGs) – he had highlighted a gap created in April, between the price of $1.15 and $1.10, that hadn’t yet been filled.
The road to that price range first sees MATIC closing above $0.91, which appeared to be resistance throughout the trading day of December 26th. Fortunately, MATIC flew past the price to close at $1. Whenever a correction comes before or after the $1.10 to $1.15 range is reached, as long as $0.98 to $1 becomes support traders can expect greater gains.
The Polygon blockchain aims to solve Ethereum’s scalability issues. It’s a “sidechain” that provides a framework for connecting Ethereum-compatible blockchains to make them faster and cheaper to use. MATIC, the native token is used to govern and cover transaction fees on the network.
Polygon 2.0 – with its own token, POL – introduces a CDK, allowing developers to create customized, application-specific chains with various scaling solutions like zkEVM, Validium, and Hermez. The 2.0 network upgrade is expected to improve security, scalability, and decentralization while continuing to maintain low transaction fees.
Bitcoin is also seeing solution-based protocols on the rise, with the new Bitcoin Minetrix project continuing to gain momentum. The team behind it all wants the crypto community to say goodbye to shady mining practices and hello to a transparent, user-centric approach. The best news is there’s still time to be among the first to take advantage.
Bitcoin Minetrix Could Also Surge After Raising Over $5.5M
Bitcoin Minetrix is a groundbreaking decentralised project. It revolutionises the way people mine Bitcoin (BTC) by providing a secure and efficient tokenised cloud mining service. This, in turn, tackles the challenges of fraudulent third-party cloud mining as token holders are given the power to control their mining experience.
By staking $BTCMTX, you can earn credits to use for BTC mining. With a current trading price as low as $0.0124, the project has already garnered over $6.3 million in funding. It’s shaping up to be an exciting opportunity for all the new retail buys likely to join the crypto market in 2024 – particularly the risk-averse, older crowd.
With 77.5% of the 4 billion $BTCMTX minted available for purchase and staking, The token’s price has steadily increased from $0.0117 to $0.0124, with another hike expected within the next 24 hours. This approach encourages early investments by offering lower prices and potential appreciation before $BTCMTX starts trading on exchanges.
For those new to mining, Bitcoin Minetrix offers an excellent opportunity to learn and benefit from the world of cryptocurrency. According to the Bitcoin Minetrix site, a Bitcoin mined in 2013 would have appreciated by 27,300% by this year. With such impressive growth, it’s no wonder that this token will be highly sought after as we head into 2024.
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