This week’s Wealth Mastery Coin Review will look at the Polygon Ecosystem to focus on the Top 5 Polygon Altcoins. We’ll also discuss the current state of Polygon and what we expect to see in 2023 from one of the most vital protocols on the market. If you need an overview of what Polygon is then check out our Crypto Beginner Guide article called What is Polygon?
- What are the Top 5 Polygon Altcoins?
- Apecoin – APE
- Frax Finance – FRAX
- The Sandbox – SAND
- Lido DAO – LDO
- Polygon – MATIC
- What is the future of Polygon?
- How do you buy Polygon Altcoins?
- Are Polygon Altcoins worth buying?
What are the Top 5 Polygon Altcoins?
Don’t forget to check out last week’s “Top Five Cosmos Coins” as we’ll continue our theme this week with the Top Five Polygon Altcoins. Polygon has a more robust Ecosystem than Avalanche and Cosmos combined. With the future of Polygon becoming brighter every day. The majority of Altcoins this year have suffered losses of over 90%. But MATIC has “only” pulled back 70% from its all-time highs. While it may not seem like much, that extra 20% is actually a pretty big deal. Indicating that Polygon, while not immune to market depreciation, has already begun detaching itself from the standard Altcoin market cycle. In fact, the first four Altcoins on this list combined are close to half the market cap of MATIC. At the same time, this list does not indicate if you should purchase any of the Top Five Altcoins. It will provide you with an expert opinion on the current state of each.
Apecoin – APE
Apecoin ($APE) is an excellent example of how quickly market influence can spiral out. Born from the Bored Ape Club, where a select group of individuals secretly conspired to buy up all NFTs on the market in the “Expanding Yugo Labs Empire.” It created insane demand for these funky little monkeys. Eminem, Mr. Beast, Snoop Dogg, and Mark Cuban had to have the official Richie Rich way to flaunt single-family homes with a digital token. This is art, after all, right? But, bring on the bear market, and these pictures don’t hold their value as well as everyone thought. Big surprise! Then genius struck its founders, what better way to create value than build a Decentralized Autonomous Organization (DAO) around these NFTs. Taking something with no value sacrificed to create and squeeze even more value out of it. The additional inflation to an otherwise already inflated asset means that if Binance and Coinbase wouldn’t have listed it. We probably wouldn’t be talking about it right now. Instead, ApeCoin has become one of the centerpieces in the NFT world. So much so that this year the creators were able to acquire its only competitor Crypto Punks.
The reason that APE is one of the Top 5 Altcoins on Polygon is that the majority of tokens continue to be locked up in staking pools. With the total supply of APE at 1 Billion tokens. Around 25 Million APE reside on Polygon, with 70% locked up on Balancer. On Ethereum, the Top 200 wallets own the majority of APE. With each wallet owning roughly half a percentage of the total market cap. With such a small supply on the open market and no real selling pressure. APE can maintain this sideways price action for quite some time. The problem is when you know the entire system is built on a house of cards where a few…
Head of Research Jesse is a passionate seeker of truth who enjoys educating others about Bitcoin. As a free thinker and 2nd amendment advocate, Jesse believes each individual has the right to monetary freedom. “The swarm is headed towards us” -Satoshi Nakamoto
