Outside Source
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To predict the future, we must consider the past. Meme Moguls (MGLS), Polygon (MATIC), and Chainlink (LINK) all showed bullish potential in 2023. Let’s see how these projects are holding up in 2024 and the likely future for these coins.
Meme Moguls: a blockchain game
Occasionally, you come across a project or product that appears to have always been present but wasn’t. Such products include Uber, Netflix, the iPhone, and Bitcoin (BTC). This is what many people observe when they explore the idea behind Meme Moguls, an upcoming game that allows you to earn while playing on the Ethereum blockchain.
Meme Moguls will allow people to show off their trading skills and compete for a top spot on the leaderboard, but in a fun, engaging way and without risk. Players will be given $100,000 in simulated money and encouraged to bet on the cryptocurrencies or stocks they think will increase.
Beginner traders can paper trade already using, for example, spread betting services, but without the fun and competition that leads people to become better.
Also, this is a group activity because everyone can see the top trades and get together in the “Moguls World” for chats. People can learn together and earn rewards for participation and winning.
Meme Moguls is currently available at $0.0036 and has two more presale rounds before it launches on the open markets.
Polygon is innovating
Polygon offers high-speed transactions and significantly low transaction fees. In comparison, Ethereum has seen peak times where fees rose as high as $100 per transaction, while Polygon charges just fractions of a cent.
However, Polygon is not content with just this success. It aims to develop zero-knowledge scaling solutions for Ethereum and interoperability protocols for other blockchains to utilize and build upon.
In December 2023, MATIC rose to $1.
Now, with the upturn in the market as the spot Bitcoin ETF proves popular, MATIC is currently trading for $0.87
Given that in the bull run of December 2021, MATIC soared to $2.88, prices may rally once more.
Chainlink soars but may face overwhelming selling pressure
Chainlink reached new heights today of $20.77, up by over 200% on the one-yearly chart and 33% on the monthly chart.
Experts are putting this down to a mix of the new technologies being released by Chainlink and the broader market pump.
Joshua De Vos said Chainlink is crucial because it “bridges the gap between blockchain technology and traditional infrastructure, potentially facilitating access to markets such as global trade, real estate, and derivatives.”
However, on-chain data provided by Santiment and IntoTheBlock shows that many holders have been underwater for a long time, so a large amount of profit-taking has been happening since the token reached around $18. Top whales have sold over seven million LINK since then, worth over $130 million.
Some analysts fear the Chainlink rally will have difficulty continuing or sustaining its $20 zone if this continues.
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This article first appeared at crypto.news
