The world’s largest cryptocurrency Bitcoin has been buying and selling beneath strain for some time and is at present round $41,500 ranges. The latest market correction has despatched jitters and dampened investor sentiment, nonetheless, these three cryptocurrencies could possibly be a game-changer forward this month.
Let’s break the ice straight up as we’re speaking about Terra (LUNA), Polygon (MATIC), in addition to Chainlink (LINK).
1. Terra’s LUNA
Terra’s LUNa touched an all-time excessive of $100 final month and since then it has corrected 30% to this point. Nevertheless, it has modified its trajectory as soon as once more over the weekend. As of press time, LUNA is buying and selling 3% up at a worth of $72.00 and a market cap of $26 billion.
Terra’s LUNA nonetheless appears to have loads of juice left in it if we take a look at the fast progress of its personal stablecoin TerraUSD (UST). The UST stablecoin is already among the many prime 20 cryptocurrencies by market cap. It is because the UST stablecoin has discovered loads of purposes throughout DeFi and is used on platforms like Curve Finance, Avalanche, Fantom, and many others.
The deflationary mechanism that LUNA shares with UST are fairly fascinating. So each time one makes use of the UST stablecoin, part of LUNA is burnt. Thus, the extra the UST is minted, the lesser the provision of LUNA turns into driving its worth greater. Thus, we consider the latest correction could possibly be a great discount for any contemporary entries.
2. Polygon (MATIC)
The Polygon (L2 Ethereum) has been benefitting rather a lot as a result of excessive gasoline charge on Ethereum and it’ll proceed to take action forward. Polygon’s MATIC was one of many prime performers in December 2021 final month by hitting an all-time excessive of $2.84.
Since then, MATIC has corrected by greater than 30% and is at present holding simply above $2.0. Polygon is present process main growth by implementing robust expertise just like the zk-Rollups. As per the latest replace, the 0xPolygon bridges have additionally witnessed $500 million of inflows over the past week of December.
Over the last week of December 2021, practically 2 million good contracts had been deployed on Polygon in comparison with simply 105k for Ethereum. This exhibits Polygon is changing into the popular community for blockchain lovers. It received’t be a shock if MATIC shoots all the best way to $10 and enters the highest ten crypto-list this 12 months or simply within the coming months.
3. Chainlink (LINK)
Oracle service supplier Chainlink (LINK) has been working laborious to defy the market pattern. Regardless of downward market strain, LINK has been inching upwards. As of press time, LINK is buying and selling 4% up at a worth of $27.
The potential for LINK rallying forward this 12 months is excessive resulting from some key developments. Final 12 months, Chainlink attained a significant milestone of $75 billion in Complete Worth Secured (TVS) which makes it the second most value-securing type of decentralized consensus throughout the DeFi ecosystem.
One other milestone is that greater than 1000+ tasks at the moment are part of the Chainlink ecosystem with greater than half of them getting built-in in 2021. We count on LINK to rally greater on the heels of such key developments.