For new investors curious about decentralized finance and DeFi coins, you might wonder if Polygon is a good choice for a passive income. Several analysts and experts believe that Polygon is a potentially significant investment based on fundamental and technical analysis.
Let’s get to know why this high-yield portfolio investment is one of the best deals you could ever make.
What is Polygon’s MATIC?
The Polygon protocol is one of the most popular scaling solutions among decentralized finance providers. Among the top 16 most significant digital assets, MATIC ranks 16th after giants Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), Solana (SOL), and Binance Smart Chain (BSC). Transactions over the Polygon protocol are handled using MATIC.
Polygon is a layer-two scaling solution platform introduced in October 2017 that helps improve the functionality of decentralized projects on the Ethereum network. Besides that, Polygon can also be used to create infrastructure. A Polygon consists of The Polygon Team, Polygon Network, and MATIC, founded by Sandeep Naiiwal, Anurag Arjun, and Jayanti Kanani.
Top 5 Polygon gaming projects to trade & invest
The following are the well-known Polygon gaming projects to trade and invest.
SportX
SportX, which is described as the future of sports betting, is one of the most popular apps built on Polygon. However, SportX may be most disruptive because players do not place bets against the house; they place bets against each other.
Most special aspect
SportX’s decentralized and smart contract-based design prevents users from losing their funds, requires no initial deposits, and prevents outcomes from being manipulated by in-house, centralized servers.
Thus, it has become one of the most popular betting platforms among cryptocurrency users. You can play tournaments like the SportX World Tour on the SportX platform and win up to $50,000 in DAI.
Price-performance
In the last year, the price of SportX has dropped by 28.21%.
Price prediction 2022
At the end of this year, SportX (SX) might have an average price of $1.09.
NFT20
NFT has experienced rapid growth in the last year. Investing in the NFTs changed the investors’ perspective. NFT20 is the best place to invest in Polygon NFT because of this. NFTs can be exchanged, traded, transferred, and stored on the Polygon blockchain. If you want, you can check the price of whatever NFT you want or even switch NFTs with someone else.
Most special aspect
The project is a rising one, but it hasn’t received as much attention as it should yet. Nevertheless, Polygon has not been an extremely popular blockchain for too long. However, because of the growing interest in polygons, NFT20 (MUSE) is forecast to be the primary source of investors in the polygon space.
Price-performance
Last year, the price of NFT20 was at $0.15, and it has risen gradually to date.
Price prediction 2022
It is predicted that the asset will trade at $1.0695340572066 (755.627% ) after a year.
EasyFi
With EasyFi, traders can now close all their orders at low cost and lightning speed since EasyFi is a decentralized lending and borrowing platform.
Most special aspect
Polygon, Ethereum, and Binance are used for the application. These feature uncollateralized, as well as undercollateralized lending as one of its “killer uses.”
Crypto lending platforms are known for overcollateralized lending mechanisms, requiring users to have more money than they borrow.
As part of EasyFi, under-collateralized loans are backed by TrustScore — a system that can be viewed as a “credit rating.” Once an ERC-20 address is allowed listed on the EasyFi platform, TrustScore’s algorithm automatically assesses its creditworthiness.
Price-performance
The price prediction for EASY ranges from $3.41 to $4.38. This year, EasyFi may perform well in the market.
Price prediction 2022
By the end of 2022, the EasyFi price is expected to reach $4.39 at its highest level.
Paraswap
A new chain ecosystem, Polygon has had endless exchanges and swaps since it just got off the ground. A good example is Paraswap, an online trade that seeks out the quickest, cheapest, and easiest swapping options for its members. However, if the exchange fee is higher than average, this is certainly not helpful. In any case, you could integrate ledger nanotechnologies if you have them.
Most special aspect
We will have to learn more about Polygon itself until we get more information about swapping, but Paraswap isn’t a bad alternative either. This one is relatively new, having been started only this year. But it has gained more attention than some of the older ones on our list. This means that Paraswap is getting a lot of excitement, but it is not yet old enough to be the most popular. As long as they maintain their good name in the meantime, they should be one of the top polygon swaps in the future.
Price-performance
Paraswap crypto has increased by 0.38% to reach its current value in the past year.
Price prediction 2022
Starting in February 2022, the price is expected to be $0.6502.
Fulcrum
DeFi World’s Fulcrum platform provides lending and margin trading services. On the one hand, we have those putting collateral up for margin trading in DeFi tokens. On the other hand, additionally, we have lenders who provide traders with the margin required to trade. Therefore, if margin traders win, their positions can be closed, and lenders earn, but whatever remains will go to lenders if they lose.
The possibility of making a profit on stable coins is definite. That’s usually more advantageous than putting it with a bank. Here, we have people funding each other’s margin trading for quick loans instead of banks covering the world with their high-interest loans and making banking more peer-to-peer with the crypto world.
Most special aspect
It’s worth mentioning that small amounts yield small returns, and withdrawing and unending require fees. As a result, it is recommended to ensure your earnings are higher than the fee you will be charged.
Price-performance
Last year Fulcrum’s price was $0.25, while now it is $12.23 on 25th January 2022, which is a significant increase.
Price prediction 2022
By the end of 2022, the Fulcrum is predicted to reach $13.82.
Final thoughts
A protocol called Polygon aims to improve upon Ethereum’s shortcomings. Unfortunately, in 2021, it experienced dramatic price increases, and some believe that more price increases could follow.
ETH2.0 will be released by 2022, however. Ethereum may become more scalable if this happens, and Polygon may be unnecessary.
In the meantime, we should check out the ones we have, as they might also provide some value. With some more time, better and more significant projects will be on Polygon for sure. It will only take a little more patience and a bit deeper analysis to uncover what might become substantial in the long run with those potentials fully explored.
