Christmas Comes Late for Polygon HODLers
Despite the overall slump in the crypto market on Boxing Day, one token that defied the trend and experienced a significant surge was MATIC (Polygon). In just 24 hours, MATIC jumped from $0.86 to $1.06, with a current market cap of $10.1 billion. This puts it in 12th place among cryptocurrencies today. MATIC has outperformed other tokens like MINA, ASTR, and BSV, which are all experiencing a downturn.
Analyst and YouTuber, CryptoCache, believes that MATIC still has room for further appreciation. He has identified a Fair Value Gap (FVG) between $1.15 and $1.10 that hasn’t been filled yet. To reach this price range, MATIC needs to close above $0.91, which has been a resistance level recently. Once $0.98 to $1 becomes a support level, traders can expect even greater gains.
Polygon is a blockchain that aims to solve Ethereum’s scalability issues by acting as a “sidechain” that connects Ethereum-compatible blockchains to make them faster and cheaper to use. The native token of Polygon is MATIC, which is used for governance and transaction fees on the network.
Bitcoin Minetrix Could Also Surge After Raising Over $5.5M
Bitcoin Minetrix is an innovative decentralized project that revolutionizes Bitcoin mining by offering a secure and efficient tokenized cloud mining service. By staking BTCMTX tokens, users can earn credits for BTC mining while maintaining control over their mining experience and avoiding fraudulent third-party cloud mining services.
The project has already raised over $6.3 million in funding, with the current trading price of BTCMTX as low as $0.0124. With 77.5% of the total tokens available for purchase and staking, the price of BTCMTX has steadily increased from $0.0117 to $0.0124. Another price hike is expected within the next 24 hours, making it an attractive opportunity for new retail buyers.
Bitcoin Minetrix offers a great opportunity for those new to mining to learn and benefit from the cryptocurrency world. According to the project’s site, Bitcoin mined in 2013 would have appreciated by 27,300% by this year, highlighting the potential for significant growth in BTCMTX.
Hot Take: The Rise of Polygon and Bitcoin Minetrix
Despite the slump in the crypto market, MATIC (Polygon) and Bitcoin Minetrix have shown impressive resilience and potential for further gains. MATIC’s surge demonstrates its outperformance compared to other tokens and its ability to fill a Fair Value Gap. Meanwhile, Bitcoin Minetrix presents a groundbreaking approach to Bitcoin mining, offering a secure and efficient cloud mining service that empowers users.
Both projects highlight the ongoing innovation and development within the crypto space, providing opportunities for investors to diversify their portfolios and potentially capitalize on future growth.
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