Should we move our crypto to another project if a Project Migrates?

[|MINER|]

I don't know if you've noticed, but we occasionally see news that a cryptocurrency project is migrating their network. Either they're migrating another blockchain or they're launching a new mainnet. For example, if I show you, a few years ago. Matic coin has now migrated itself to Polygon POS.

The main thing here is that since then, the performance of Matic coin or Polygon coin has been dropping constantly and I don't think they will ever do so in the future.
So does the question ultimately come down to whether most projects will see a drop in performance when they migrate?

So it seems like the best option is to migrate our investments to another currency at the same time?

[MArsland]

I don't know if you've noticed, but we occasionally see news that a cryptocurrency project is migrating their network. Either they're migrating another blockchain or they're launching a new mainnet. For example, if I show you, a few years ago. Matic coin has now migrated itself to Polygon POS.

The main thing here is that since then, the performance of Matic coin or Polygon coin has been dropping constantly and I don't think they will ever do so in the future.
So does the question ultimately come down to whether most projects will see a drop in performance when they migrate?

So it seems like the best option is to migrate our investments to another currency at the same time?

It depends because this migration decision aims to expand the expansion of a project from network A to B that sees better opportunities. But of course not all projects are successful and get attention after migration, most investors consider migration as a failure of infrastructure governance and branded change the road map of the project in whole or in part. It used to be if I'm not mistaken BNB is an ERC-20 token and 2019 launched Binance Chain then the growth got better.

The decision to move investment only because migration has become a common thing, it just needs to be considered with the moment, whether the migration is right with the developing narrative such as ZK Proof, RWA, AI or the like.

[OmegaStarScream]

For me, it's the other way around.

It feels as if the rebrands are done once the project starts a downtrend, and it's done in the hopes of saving it but usually does not really help much, not in the long term anyway...Fantom/Sonic are also another example of that.

Another problem with POL is that they were following the hype. They didn't know what they were doing...

Originally an Ethereum sidechain --> Went ALL in with acquisitions that now seems like they were complete waste of money? (Mir, Hermez) --> Polygon zkEVM was going to be the next big thing --> barely any adoption of it, now abandonned --> Polygon 2.0 and the AggLayer --> recently acquired Coinme and Sequence to focus on Stablecoin payments in the U.S.

I mean compared to all of its previous competitors at the time (Fantom, Harmony, Loopring, ZkSync, etc..) it's kind of doing great in terms of the CMC ranking, but still, I believe they could've done much better if they were not chasing trends.

[Charles-Tim]

The main thing here is that since then, the performance of Matic coin or Polygon coin has been dropping constantly and I don't think they will ever do so in the future.
So does the question ultimately come down to whether most projects will see a drop in performance when they migrate?

What I think about Polygon and EOS and some other coins that I noticed is that the coin were not performing good before the migration. Example is the POL, it has been falling in price before the migration.

Ether migrated, but it increased during the time of migration.

If bitcoin migrate to another blockchain, I believe it will remain a store of value.

Are altcoins that have not migrated also good? I do not think they do. Most of them are showing us that they are deprecative assets.

[The Cryptovator]

I don't know if you've noticed, but we occasionally see news that a cryptocurrency project is migrating their network. Either they're migrating another blockchain or they're launching a new mainnet. For example, if I show you, a few years ago. Matic coin has now migrated itself to Polygon POS.

So it seems like the best option is to migrate our investments to another currency at the same time?

To me, it doesn’t make sense to move to another project just for migration. Either it’s your current holdings that you want to move to a migrated project, or you are currently holding the project that will be migrated. You really don’t need to move away anyway. Migration doesn’t mean the project becomes worse or better.

Migration just changes the chain; either it’s another chain or a native chain. Chain isn’t something that you can evaluate the project on; the main thing is how they are developing their projects. How they are trying to engage with the crypto industry. Creating a coin isn’t a hard task nowadays. It’s important how the team is working to push their products and projects.

[Dr.Bitcoin_Strange]

Most altcoins still possess the same risk of failing whether the project migrated to another network or not. So, even when you move your crypto (capital) to another project that has not migrated before, you are not also too sure that the new project you moved to will become successful or not. If I'm the one that wants to move my capital, I would rather move it to Bitcoin.

Render token and TRX migrated too but even after then, how well has the tokens been profitable to its investors? Investing in altcoins, you are not even sure whether if the token gets to its first all time high, if it will ever get to that price again or even reach a new all time high during bull season but Bitcoin is more guarantee for creating new all time high every bull season.

[TastyChillySauce00]

There are altcoins that migrated but doing well afterwards like RENDER. You need to know what is the cause of the migration before thinking of moving your crypto but I won't blame the POL price decline on migration, pretty much every L2 coins are dumping because people sees those token as not needed. ARB, OP, and POL, all of them are L2 and going down more than -90% from peak, the performance is declining not because the migration but because the coin itself doesn't have the potential.

Not to mention that Polygon's main driver Polymarket is thinking of creating their own specific app blockchain and completely move their transaction processing from polygon. Big share of chain revenue is about to evaporate which won't be good because operating L2 is costly and the validators need money.