The year 2021 was the year for altcoins where most of the projects enjoyed gigantic gains right through the year. Especially, Matic (Polygon) and Terra (LUNA) emerged as two of the top gainers in 2021 with tremendous profits of over 10,000% over the year. However, as the above protocols align themselves with advanced upgrades in 2022, they are optimistic of having similar gains like they had in 2021.
Polygon (MATIC):
Matic price has been generating consecutive higher lows with substantial accumulation on the way. With a clear breakout at $1.8 on December 15th, the protocol has managed to claim an ATH of $2.92 on December 26th. However, the price is undergoing requisite correction from the past week as a cohort of traders jumped into sell their asset. Yet it would soon flip the bearish divergence to discover new ATHs.
Why MATIC is Traders Favourite in 2022?
- Matic platform includes an average of 300k daily active users and the average transaction fees are just 2 cents. Besides, NFT transactions costs lower than 23 cents and DeFi transactions are under 23 cents signifying the network is cost-efficient to mainstream audience.
- The ecosytem bridges have experienced $500 million in inflows over the past week and over $28 billion all time, outstripping the other majoority of the blockchains.
- Over 1.8 million NFTs have been sold on OpenSea marketpace in December 2021. NFT sales have been growing ever since July with no looking back. It further illustrates that Polygons is set to become an NFT hub.
Terra (LUNA):
Terra (LUNA) price has seen exponential growth ever since July with a generation of consecutive higher highs. The project has managed to reach a whopping three digit value by claiming an ATH at $103.33 on Christmas. Currently, the asset is undergoing mandatory correction, thriving to find support near $85.
The project had a TVL of just $200 million in early January that skyrocketed to $20 billion towards the end of 2021. Total value locked thrives to indicate healthy network growth between the platform and users.
Collectively, the aforementioned project hold a magnificent potential to enter into top 5 by the end of 2022 if they manage to execute their plans accordingly. The future would rather depend on fundamentals other than only hype. Whilst Matic and Terra are well ahead of the game, they are expected to blossom higher than expected in 2025.
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