Since the US Fed’s decision to cut interest rates, the broader crypto market has lost more than $500 billion. Buying at the present bottoms, on the other hand, would allow traders to control their purchasing power ahead of a potential economic downturn. The year 2022 is likely to be extremely difficult for the crypto sector. So, it is advisable to invest solely in agile and cost-effective enterprises.
A swarm of traders, in particular, are roaring for joy in the Altcoin Premier League. Altcoin Premier League is set to begin in the coming days. Fantom, Polygon, Avalanche, and Axie Infinity are the hypersonic projects competing to win the league.
This altcoin has generated a lot of media attention in recent weeks. This is mostly due to the massive rise in TVL and market value. Furthermore, by maintaining a price above $2.5, the cryptocurrency has been largely impervious to the latest fall. Because the cryptocurrency is exhibiting bullish divergences, it is projected to retrace the values above $3 in the next few days.
One of the cryptocurrency supporters released a graphic depicting Fantom’s domination in 2021. The token has grown 11,048 percent, outperforming top-tier cryptocurrencies such as Matic, Solana, and many others. Despite recent unfavourable emotions, Fantom’s TVL has stayed well over $7.5 billion. Following that, the token appears to be highly promising. It has the potential to flip the big players in the field in 2022.
Polygon (MATIC) has undergone significant growth, resulting in increasing lows during the year 2021. Though the price fell slightly as a result of the January 5th crisis, it swiftly rebounded by defying sell-offs. The MATIC price is currently trading at $2.13, indicating a good break-out. By regaining the past ATH, the asset will reach new highs above $3 in the forthcoming super cycle.
Despite the market’s unfavourable emotions, Polygon has been making strides toward new milestones by capturing the attention of a wider user base. The Polygon chain had about 873 active addresses at the time. Additionally, it has already surpassed 592k in less than a year. However, the rapid development occurring across the platform would significantly boost the MATIC price action.
Axie Infinity (AXS)
Even if the price of Axie Infinity (AXS) dropped to a historical low of $75, more than 94 percent of holders would still profit. This demonstrates the project’s agile future potential even more. Buy pressure is expected to increase in the coming weeks, with an 88 percent surge expected to re-establish the previous ATH.
Furthermore, Axie Infinity emerged as one of the play-to-earn tokens in 2021 and investors are expecting it to thrive in 2022. Gamingfi analytics offered fascinating information. Axie Infinity was the top gaming project on Twitter in the first week of January, with a volume of over 11.91k.
Avalanche (AVAX) is one of the main participants in 2021, with over 200k active wallet addresses. Though bears have dogged the rally since the beginning of 2022, AVAX’s price has remained hesitant and has managed to stay over $85. As the RSI supports buy chances, traders may begin to open trades to push the price well over $100.
Collectively, the aforementioned cryptocurrencies would have stiff competition to maintain their position in the top ten. The current downturn is just temporary, as signs are gradually turning positive, and the Altcoin Premier League appears to be on the horizon in the next few days.