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By ushering in waves of improvements and advancements on their own networks recently, alts such as MATIC, THETA, and ADA appear to have a bright future. Is it, however, the perfect moment to invest in them?
Even as the entire crypto-market depreciated in the latter half of May, MATIC managed to shield itself from a massive downfall. Additionally, a couple of days back, MATIC flipped Binance Chain with respect to the number of daily transactions. Commenting on the alt’s rally, popular analyst Lark Davis recently said,
“Polygon has been “roaring” over the past few months. Absolutely crazy! The gains train for Polygon hasn’t finished.”
The cryptocurrency, which has a market valuation of more than $11.3 billion, was trading at $1.80 at the time of publication. However, MATIC had an unexpected 22 percent drop in the previous week. Davis, on the other hand, believes the coin has the ability to rise much farther. He stated,
“Right now you’re looking at a situation where we could still see it get up to $10 per MATIC token.”
Additionally, as highlighted previously, low transaction fees and increased adoption have rubbed off quite positively on MATIC’s price.
Losing its spot in the top 20, THETA was claiming the 21st spot on CMC’s rankings, at press time. With a market cap of $7.94 billion, the alt registered a 5.69% hike in the last 24-hours alone. Commenting on similar lines, Davis said,
“It is rebounding strongly from the massive dip that we had, but that’s not the end of the story for THETA. No no no, far from it.”
Highlighting the potential “very big catalysts” coming up on the network in June, Davis asserted that the asset’s price would rally further. For starters, the ThetaDrop Marketplace will launch itself on THETA’s network in June.
Theta Mainnet 3.0 and the launch of Elite Edge Nodes and TFUEL staking are now 30 days away! In coming weeks you’ll see a new Edge Node version released w/ updated EN user interface, and TFUEL staking live June 30. Internal testing is ongoing w/100k+ TFUEL stakers running strong pic.twitter.com/D0m1tbhjrH
— Theta Network (@Theta_Network) May 31, 2021
Additionally, Theta Mainnet 3.0 and the launch of Elite Edge Nodes and TFUEL staking are less than a month away now.
Cardano, which has a market worth of more than $57 billion, has gained 4.23 percent in the previous 24 hours alone. Davis, who described Cardano as a “massive crypto-beast,” stated that the alt’s next few months look bright, with advances like as the first Alonzo testnet going online on May 27. In response to this, the analyst stated,
“Introduction of smart contracts is going to be a major catalyst for this blockchain and the price will continue to rally. In the run-up to the launch of these smart contracts, you’re going to see the price continuing to rally.”
If everything goes as planned, smart contracts will be available on the mainnet by August. The expert finished by recommending investors to “get in” before the big hoopla built up. He claims that
“We will see the main Cardano asset continue to rally in anticipation of smart contracts. Even though this catalyst is a little bit farther out, it’s potentially time to start looking at Cardano now.”