Consulting giant Nasdaq analysts shared their assumptions about the future of 2 altcoin projects currently under $1.
Michael Byrne chooses an altcoin project that builds institutional ties
Polygon hasn’t made much progress since the beginning of the year. It is currently trading at a low of $0.83. The altcoin project has announced its affiliates with giants such as Starbucks and Disney in the past months. As such, it stands out as one of the top blockchains of choice for companies that want to be comfortable entering the crypto world.
Polygon also has integrations with Meta Platforms’ Instagram and Facebook platforms, while Robinhood Markets has chosen Polygon as a partner for its new crypto wallet. Companies choose Polygon for its solid prestige, low process prices and power efficiency.
Polygon isn’t just for companies that want to be associated with well-known concepts like NFTs or Web3. In one-on-one time, it helps companies to contact different branches. For example, last summer, Reddit partnered with Polygon to create a marketplace for NFT collectible avatars that their users can use as profile photos. In October, 3 million Reddit users opened Vault wallets to purchase Polygon NFTs. With all that said, analyst Michael Byrne sums up his expectations from Polygon in this form:
With its growing user base, strong performance, and an increasing role as a cryptocurrency for companies looking to establish a presence in crypto, NFTs and Web3, Polygon is a cryptocurrency with a lot of potential in the long run.
Stellar (XLM) is currently the 25th most valuable cryptocurrency in the world. XLM has delivered a remarkable total return of approximately 3,700% since its launch in July 2014. This is because it seeks to subvert the outdated financial services industry. Stellar’s goal is to make it easier for people to send money to anyone in any random part of the world.
Currently, the sea is very classical remittance market, very slow and precious. According to data provided by the IMF, a typical remittance to a low- or middle-income country such as Nigeria requires a high process price of more than 7%. For small sums, which is the norm in this kind of scenario, these prices are certainly a valuable burden. In addition, people often have to wait for days even to receive the money. Analyst Neil Patel says Stellar will be better positioned in the future by filling these gaps:
If Stellar can find ways to further adopt the innovative and exciting cryptocurrency, its value could rise in the next decade. That’s reason enough for investors to take a closer look at Stellar right now.