The broader crypto market cap has been generating consecutive higher lows since November. It is likely to retest the $1.62 trillion market cap to get a breakthrough to $2 trillion. Currently, as the majority of the traders are panic selling, opportunities come for those with patience and thorough market knowledge.
Moving value to average value that correctly gauges how deep the investors are into pain or euphoria zones. Currently, 30-day MVRV showcasing bullish divergence for Polygon, Fantom, and Terra price action.
Polygon (MATIC) Is On For Next Level Price Action:
Polygon ecosystem is showcasing solid signs of exponential growth in 2022. The one-day chart from Tradingview suggests that the MATIC price is on the verge to flip 20-50 days MA to bypass the $2 mark. Moreover, there are potential reasons where we can expect prices to skyrocket.
As per Alchemy, the world’s leading DeFi platform has showcased that since its advent, the Polygon network has hosted more than 7k+ dapps. The huge growth of new DeFi and NFT applications resulted in a surge of fees on the ETH blockchain. In order to take the advantage of fast and cost-efficient transactions, many of the users migrated to Polygon.
As per the recent analytics, the total number of transactions has bypassed $78 million and 102k daily transactions on average in January 2022. In comparison to December 2021, there is a rise of 3.6% in total transaction volume and 34.6% in the volume of NFTs sold.
Terra (LUNA) Price Poised For Massive Upswing!
Terra Luna has been one of the top-tier cryptocurrencies to push higher and create new ATHs until late December. As 200 days MA is eventually rising up, LUNA price is likely to 20 days MA of $63.80. If bulls continue to persist in the above resistance, $85 is the next milestone.
Though the ecosystem’s TVL (Total Value Locked) has depleted by more than 25%, it is still the largest behind ETH’s TVL. Whilst the altcoin is trading at multi-month lows, the current trade appears to be the best opportunity to gobble up.
Collectively, MATIC and LUNA have been emerging as the leaders of DeFi space with new milestones. Currently, they are trading at the best buy zones, usually where bulls flip the bottom.
