From the look of things, May will be a good month for the crypto space; Ethereum may hit five thousand dollars by the end of May, Dogecoin is going to the moon, altcoin season is coming, and Bitcoin is getting ready for a mega run.
With how good the crypto space is, several cryptocurrencies have massive potential to make big gains.
The first is Polygon (Matic); Polygon has been going crazy, and the run is not finished either. Polygon may have a cooling-off phase which would be a natural situation. Over the past 21 days, Polygon has gone up by over 122%, and as a result of that, a cooling-off period for Matic is coming. The good thing is that the cool-off period will be a good opportunity to enhance your position, buy the dip.
Polygon has been going crazy because it has been performing well when it comes to adoption. Most of the decentralized finance protocols are now working with Polygon, some of the biggest ones like SushiSwap, Curve Finance, Aave, and NFT players like OpenC. Polygon is killing it as the premier layer two scaling solution for Ethereum. The network also has been going crazy with about a million a day; Polygon has been successful.
Polygon is launching a 100 million dollar fund to support DeFi adoption. Polygon is already working with some of the biggest DeFi protocols with a million transactions per day; Aave also has two billion dollars in liquidity locked on Polygon. This shows that layer two is succeeding and Ethereum is scaling. The 100 million dollar fund is incredible as it will bring new high-quality projects into the Polygon ecosystem.
Polygon’s market capitalization is only 4.8billion dollars; there is more value locked in Polygon DeFi than on Solana, which means more money flowing on Polygon and more users. Polygon is severely undervalued.
Another cryptocurrency is Litecoin, Litecoin is always second to Bitcoin, but you have to note that Litecoin has pumping factors. Litecoin is always included on all the platforms; PayPal, Venmo, RobinHood, and Grayscale Trusts are selling Litecoin. There is even a possibility that we may have Litecoin ETFs before most other ETFs come to play because it is a safe coin.
Litecoin is also a cheap coin, at about 360 dollars per coin versus Bitcoin of about 55 thousand dollars. There is a big difference; you can either get ten Litecoins or 0.1 Bitcoin. We are entering into a phase of the market where rationality does not always apply.
Ethereum Classic has been pumping and has gone up by over 52% in the past fourteen days. Ethereum Classic has no users, nor does it have applications, but it is in the top 100 at position number 32. Ethereum Classic is one of those random coins that happened to make it on certain platforms.
If the likes of Ethereum Classic and Dogecoin can pump, Litecoin can pump also, and on the bright side, Litecoin had a mega pump a few days back where it pumped from 270 to 360 dollars.
