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 projectIn 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/gastrackerwe 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/addressIMG of state:
https://i.imgur.com/Enx2i7q.pnghttps://bscscan.com/chart/addressIMG of state:
https://i.imgur.com/8gLgHq6.pngWe 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-polygonMarket CapIn 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)
DownsideThere 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.
