Polygon is an Ethereum layer-2 solution that could explode in 2022

Since the inception of bitcoin as the pioneer cryptocurrency, cryptographers have followed the trend creating a lot of other digital coins. There are now more than 6000 of these coins with more in the development phase. Polygon is one of the many cryptocurrencies, otherwise referred to as altcoins, after bitcoin.

Polygon was developed in 2019. It was initially referred to as “Matic Network“ but later rebranded to the polygon. Its main purpose was to solve the scaling problem that existed on the Ethereum blockchain without paying high gas fees. If you are an investor looking to add this coin to your portfolio, then here are some of the reasons you should consider.

1. Polygon’s Use in the Decentralized Finance (Defi) Industry

As stated earlier, polygon’s main aim was to help scale up transactions on the Ethereum blockchain while keeping the costs of transactions as low as possible. Polygon has so far managed to achieve both of these fetes. Many Defi developers are rapidly adopting this cryptocurrency, thanks to its attractive features. Using polygon is easy and fast and very affordable, making it a market leader in this sector. Considering that the Defi industry is now worth more than $100 billion, you could make some good money investing in this coin if it continues gaining traction in the industry. Additionally, Uniswap V3 has also recently been launched on the Polygon ecosystem bring more Defi developers and users to the polygon network. The more users it attracts, the higher the demand for this coin will rise, pushing its price up.

2. Polygon Has a Clear Plan

Of the more than 6000 digital coins in existence, very few have clear plans on what they intend to achieve in the feature. Most are dump and pump projects that only aim at raising a few dollars then fizzle into oblivion. Polygon is among the few projects that have shown a clear path. The project is currently providing real and practical solutions to the finance industry.

As an investor, you should not be quick to put your money in any project that gathers clout for a while with promises of profits but no defining feature. It would be prudent to consider the team behind any project, their skills, experience, and feature perspective. The team behind polygon has shown their seriousness and determination to provide solutions and convenience to the cryptocurrency industry. Among their most notable solution is the scaling feature that has evaded many other blockchains so far. They continue to research to advance their platform even further.

3. Polygon as an Impressive Market Capitalization

Market capitalisation is the value of all the coins that are in circulation. The coin’s current price multiplied by the total number of coins in circulation gives you its capitalisation. This value is an indication of the stability of a particular cryptocurrency. The higher the market cap, the more stable the digital currency in question. That means that in case of market fluctuation that happens from time to time, the price of that coin will not be affected significantly.

The current market capitalisation of Polygon is just above $15.7 billion. This value is relatively stable compared to the leading digital coin, bitcoin, with a market cap of about $794 billion. Polygon is currently ranked at number 13 in terms of this metric of all cryptocurrencies. Having this coin as part of your investment is a relatively same gamble. It is bound to grow, albeit slowly, in the next few years.

4. Polygon has Strong Partnerships

If you want to know whether a project has a future, take a look at the project’s partners. Most cryptocurrency projects are pump and dump developments whose aim is to collect as much cash as possible, especially during initial coin offerings, then fizzle with their investors‘ money. Polygon is a different project compared to other well-known digital currencies such as Ethereum and bitcoin. It has attracted serious potential partners such as the Kyber Network and GraphLinq Protocol. Kyber Network is using the Polygon platform to enhance the liquidity of its application. Using this scaling solution, it has developed Rainmaker, which is the first liquidity mining solution. Thanks to polygon’s low gas fees, its partnership with GraphLinq has seen more users come on board. As more partners come on board, this coin’s value is bound to grow in the near future.

5. Polygon has a Low Entry Point

If all the attractive features about this coin are not enough reasons to add it to your portfolio, then you can consider its nominal entry point. Most big projects that make the top 20 list of all cryptocurrencies are relatively pricey apart from a few. Polygon is among those coins that have potential but whose price is still significantly low. Currently, the price of one MATIC is $2.18. You can buy more than a hundred units at this price at just more than $200. That is very low compared to a currency like Ethereum that is retailing at more than $3,500. If in a few years MATIC hits $50, which is very possible owing to its features and progress, you could make a very handsome profit. You can consider having a few of these coins in your portfolio as a way of spreading your risks as well as diversifying your investments.

The post 5 Reasons Why You Should Buy Polygon appeared first on Coin Journal.

Dusk Network (DUSK) has been one of the best crypto performers over the last week or so. The token has seen massive surges and is expected to maintain some of this momentum in the coming days. But is DUSK a worthy buy in the long run? Is this the perfect time to get in? The analysis is below but first some highlights:

• The Dusk Network (DUSK) has seen gains of nearly 70% over the last 7 days, making it one of the best performers in crypto right now.

• At the time of reporting, the token was trading at around $1.05, up about 8% in 24 hours

• DUSK also saw surges in its trading volume, increasing by over 60% in 24 hours.

Data Source: Tradingview

Dusk Network (DUSK) – price prediction and analysis

It’s been a superb 7 days for Dusk Network (DUSK). After falling behind for the most part of January, the token is rebounding sharply, earning nearly 70% in value over the last week. DUSK has also managed to surge past the crucial psychological threshold of $1. 

At the time of writing, the coin was trading at $1.05, up about 8% in intraday trading. DUSK also has a reported market cap of about $404 million. There is therefore quite some potential for it to grow further albeit it is still outside the top 100 cryptos.

Is it a good time to buy Dusk Network (DUSK)?

Dusk Network is a programmable blockchain for confidential securities. It is designed to offer privacy and speed for financial applications, making it a very unique protocol in the DeFi space.

DUSK also has a scalable public infrastructure and offers the highest levels of privacy. With these incredible features, it is expected to be big no doubt. If you have not bought into it already, it’s time to get in albeit the price is quite high at the moment.

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Fantom (FTM) has been surging over the last few days. The Ethereum competitor in fact managed to cross above $3.4, hitting an all-time high in the process. But is it the right time to buy Fantom? How far can this uptrend momentum go in the near and long term? Here are some highlights:

• Fantom (FTM) has outperformed almost all major cryptos, gaining a whopping 35% over the past week.

• The token did fall slightly from its all-time high and was trading at $3.22 at the time of writing.

• Total Value locked on Fantom (FTM) has surged to $7.75 billion, a 26% jump over 7 days.

Data Source: Tradingview.com 

Fantom (FTM) – Price action and prediction

Fantom (FTM) has often been described as an underrated project that is going to surprise many. Despite a slow start in 2022, the altcoin has held steady and is now charting an upward trajectory. 

Weekly gains stand at 35%, the best in the entire market. But it is the total value locked or TVL that is attracting a lot of interest. Last week, Fantom’s TVL rose to $7.7 billion, a 26% increase over 7 days. This was one of the key drivers of the price action this week. 

We expect Fantom (FTM) to maintain this trajectory. Although the token has slightly fallen from its $3.4 all-time high, it will retest that threshold in the coming days.

Should you buy Fantom (FTM)

For the last months, Fantom (FTM) has ranked as one of the fastest-growing crypto assets in the market. If you are looking for a decent Ethereum alternative with superb underlying fundamentals, then Fantom (FTM) is a decent option. 

As for folks who want a short term play, maybe ride the bullish uptrend. In fact, over the last few days, people who have tried to bet against FTM have been burned, so it may not be a good idea.

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The year is just starting, but cryptocurrencies are moving boundaries and reaching new all-time highs. If you are a crypto enthusiast looking to put your money in some coins with potential, see this list of coins to buy this month in no particular order.

Solana (SOL)

Solana is an open-source computing network developed by Anatoly Yakovenko in 2017. It was developed to increase the speed of transactions while ensuring decentralisation. The Solana network boasts of validating over 50,000 transactions per second for less than a penny per transaction. It runs on the proof-of-stake consensus algorithm. It is similar to the Ethereum blockchain, which has earned it the nickname „Ethereum killer.“ Solana supports smart contracts and can be used for investing apps, DeFi, games, DEXs, social media, dApps, etc. Compared to the Ethereum blockchain, it has performed more transactions per second at a low transaction fee. SOL is the native coin of the blockchain. It is used for paying transaction fees, staking, and as a governance token. 311.8 million SOL of the 508.2 million is currently in circulation. SOL is currently ranked 5th, and one SOL costs $150.52 today. In November, it cost $259.96.

Cardano (ADA)

Cardano is a third-generation protocol created by Jeremy Wood and Charles Hoskinson in 2017. It uses the Ouroboros- a proof-of-stake algorithm as its consensus algorithm. Its goal is to be secure, scalable, flexible, and eco-friendly. The blockchain allows the creation of native tokens that mirrors its native cryptocurrency (ADA). The blockchain runs on two different layers- the settlement layer, which oversees assets transfer and notes transactions, and the computation layer, which executes the smart contracts for decentralised applications. ADA is the native coin for fueling the platform. It can be used to settle transaction fees and as a governance token. Also, it can be staked for rewards. Today, its price is $1.25, having dropped by 59.4% from an ATH of $3.09 in September. ADA is ranked 7th with a market cap of $402.b. It has a total supply of 45 billion, with 32.1 billion currently in circulation.

Fantom (FTM)

The Fantom ecosystem is a blockchain for decentralised applications and digital assets launched in 2019. Michael Kong developed it. It is modular, efficient, scalable, secure, open, and eco-friendly. It supports smart contracts. The blockchain runs on Lachesis, an Asynchronous Byzantine Fault Tolerant (aBFT) Proof-of-Stake (PoS) consensus algorithm. The creation of dApps is possible because of Fantom Virtual Machine. FTM fuels the ecosystem. FTM is both an ERC-20 token and a BEP-2 token. It is used for rewarding validators and as a governance token. FTM is trading at $3.00 right now. It peaked at $3.46 in October. FTM has a total supply of 3.2 billion, and 2.5 billion is in circulation.

Cosmos (ATOM)

Cosmos is a blockchain for other blockchains created to serve as the internet of blockchains. It has an Inter-Blockchain Communication protocol (IBC) and a software developer kit that allows easy creation of dApps and interconnection between independent blockchains (zones). Cosmos operates on Tendermint Proof-of-Stake Byzantine Fault Tolerance (BFT). It was launched in 2019 by the Interchain Foundation. ATOM is the native coin used to promote interoperability on the network. It can be staked, held, exchanged, and traded. Today, its price is $39, with 226 billion atoms currently in circulation. It peaked at $44.42 in September.

Audius (AUDIO)

Like Spotify and SoundCloud, Audius is a music streaming platform built on blockchain. It supports music sharing, streaming and has social media features. The platform is run by node operators, artists, and fans. Audius runs on a proof-of-stake algorithm. It was founded in 2018 on the POA Network but is now on the Solana blockchain. Although it is not the first streaming platform on the blockchain, it is backed by Jason Derulo, Katy Perry, Nas, The Chainsmokers, and Pusha T. Its native cryptocurrency is AUDIO, an ERC-20 token. 500 million AUDIO of the 1.1 billion is in circulation right now. Today, its price is $1.43 but reached an all-time high of $4.95 in March 2021.

Chainlink (LINK)

Chainlink is a network of nodes that provides data and information from off-blockchain sources available to smart contracts through an oracle. It provides blockchains and the dApps on them with relevant data. It was launched in 2017 as the first protocol moving data and information from off-chain sources to existing smart contracts. The network’s operation is divided into oracle selection, data reporting, and result aggregation. LINK is the native coin of the network. Node operators are rewarded with LINK for their activities on the network. It can be traded, staked, and exchanged. LINK is trading at $24.98 now. It cost $52.70 in May 2021. There is currently 467 million LINK in circulation.

Polygon (MATIC)

Polygon was developed in India initially as the Matic Network but was rebranded in February 2021 as Polygon. It was created as a layer-2 scaling protocol for the Ethereum network. It was created to increase the size, speed, security, interoperability, and use of the blockchain. It operates on a proof-of-stake algorithm. It supports the Ethereum Virtual Machine contract.

Further developments on the network are expected to include Polygon Plasma, zk-Rollups, Optimistic Rollups, and Validium Chain. MATIC is the native token used for powering the Polygon network. Payment of transaction fees and staking can be made with MATIC. Also, it can function as a governance token for voting upgrades and policies on the platform. A MATIC token costs $2.29 today.

Terra (LUNA)

 Terra is a blockchain that supports the creation of stablecoins linked to physical currencies or assets. These stablecoins can be traded and exchanged on the ecosystem or exchange platforms. It was created in 2018 by Terraform Labs using Cosmos SDK. It works on Tendermint Delegated-Proof-of-Stake (DPoS) consensus algorithm. It is a fintech solution for payments. The ecosystem consists of CHAI for making frictionless payments and Terra Bridge to aid interoperability between blockchains. The Mirror Protocol allows creating synthetic assets (mAssets) and Anchor Protocol that provides users with access to stable interest rates. TerraUST, TerraGBY, TerraEUR, TerraJBY, TerraKRW, TerraCNY, and TerraSDR are some of the stablecoins that have been created using Terra. LUNA is its native token for maintaining the stability of these stablecoins. The total supply of LUNA is less than a billion. LUNA is used as payment for transaction fees, volatility absorber, staking, and governance tokens. LUNA costs $80.94 as of today and is ranked 9th.

Polkadot (DOT)

 Polkadot is a blockchain of blockchains created in 2016 and launched in May 2020 by Robert Habermeier, Peter Czaban, and Gavin Wood. It aims to solve the blockchain trilemma- security, scalability, and decentralisation. The blockchain has two modules- relay chain (the main network that processes transactions) and parachain (the users‘ blockchain that taps resources from the main network). The blockchain would also feature bridges that allow interoperability with other major blockchains. It operates on a Nominated-Proof-of-Stake (NPoS) consensus mechanism. DOT is its native cryptocurrency and can be traded, staked, and used as a governance token. The price of DOT is $26.28 right now, with a total supply of 1.2 billion. It reached an all-time high of $54.98 in November 2021.

Decentraland (MANA)

 Decentraland is the first 3D decentralised world to be controlled entirely by its users. Its development was started in 2017 by the Decentraland Foundation, established by Esteban Ordano and Ariel Meilich. It became public in January 2020. It is a metaverse created on the Ethereum blockchain. It has two native tokens- LAND (an NFT protocol for registering acquired properties (land)) and MANA (a cryptocurrency for trading assets and other services in the world). The platform supports payments, P2P interaction, and interactive applications. MANA is important in running the operations of the metaverse. It is used to settle transactions and vote on policy updates, LAND auctions, and upgrades on the platform with their MANA. It is currently trading at $2.97. There is a total supply of 2.2 billion, with 1.3 billion currently in circulation and a market cap of $3.9 trillion.

The post Top 10 Best Cryptocurrencies to Buy in January 2022 appeared first on Coin Journal.

Litecoin (LTC) has been rebounding steadily over the last few days. The altcoin has in fact surged by 4% over the last week, paring some of the losses we saw during the market-wide slump. But even with these bullish signs, LTC is still firmly in the bear market territory and could remain there for a while. But should you still buy it? Here are some highlights first:

• Although LTC has surged above its 25- and 50-day exponential moving averages, it is still well below its 200-day EMA.

• Broader sentiment in crypto is yet to rebound steadily, something that poses a huge downside risk for LTC.

• Litecoin must surge past crucial resistance of $150 if any sustained bullish uptrend is seen in the near term.

Data Source: Tradingview.com 

Litecoin (LTC) – Price prediction and analysis

Litecoin (LTC) has shown some resilience this week. The coin in fact managed to pull up from its six-month lows of $120 and add some daylight in between, trading at around $140 at the time of writing. 

The altcoin has also seen gains of about 4% over the past 7 days. Although this may seem like a bullish trend, it’s still early to bet on LTC. 

First, the coin is well below its 200-day EMA of around $150. Analysts note that any bullish surge can only come once LTC surges past that. If indeed that happens, it is conceivable that the coin could go to $170.

Why you should buy Litecoin (LTC)

Even with current price pressure, Litecoin (LTC) has always been a decent buy. The altcoin is still one of the best performing coins inside the top 10 and could still deliver more value in the long term. It is one of those must-have crypto assets for any serious investor looking to unlock long term value.

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