Look around you — the cryptocurrency market is crashing (which was exactly what I said would happen) and newbie crypto speculators are getting their first abrupt spanking after being spoiled for far too long with far too little to actually warrant said spoils.
Bitcoin (CCC:BTC-USD) plummeted 20%-plus in the past month after Elon Musk’s took it to task for not being in line with his climate-conscious mission statements, and after China renewed its commitment to keeping cryptocurrencies under their thumb.
At this moment, the price of BTC is $38,600 — far from its high of $64,000-plus in mid-April, but still too expensive for most people to afford an entire coin.
Two quick (but critical) notes here: The price of the cryptocurrency is not always indicative of its underlying fundamental value, and just because the market crashed does not mean there aren’t cryptocurrencies worth buying.
Which Cryptocurrencies Should You Buy?
Right now, at this very moment, there are a number of interesting cryptocurrencies, altcoins, and tokens trading hands for less than $2. While Bitcoin and Ethereum (CCC-USD) have dropped significantly, the lion’s share of the compounding share appreciation has already been made by those savvy enough to get in when both were hardly a glimmer in a CNBC news anchor’s eye.
If you’re aiming to strike it rich, the altcoins with relatively muted valuations and underappreciated fundamentals have the most upside to give. These are the coins that are going to mint the next generation of crypto millionaires.
I’ve got a few on my radar, which my cryptocurrency research team and I are hard at work analyzing. But perhaps the best altcoin to buy today, at this very moment, is one that I recently gave away to premium subscribers of my 10x-stock-a-day service, the aptly titled Daily 10X Stock Report. “DTX” for short.
DTX subscribers were the first to get my thoughts on a little cryptocurrency called Polygon (CCC:MATIC-USD). An altcoin so valuable, that one-time cryptocurrency skeptic and notoriously critical Shark Tank star Mark Cuban couldn’t resist scooping it up. According to a disclosure on the Mark Cuban Companies website, the billionaire investor now owns MATIC coin.
And you would, too, had you been given a thoroughly researched, thoughtfully written examination of Polygon and its underlying technology before its exponential rise this week.
We wrote such an examination in the Daily 10X Stock Report, just days ago. Recommending to DTX subscribers they buy MATIC, despite its then-100% rise in a mere 24 hours. Here’s a little preview:
“Polygon is up more than 100% over the past 24 hours. That’s no misprint. It’s also no fluke. This cryptocurrency is up more than 2X in less than a day, and this could really be just the start of a much bigger, much longer uptrend in the crypto.“
Since then, Polygon has risen another 41%. Meaning subscribers who took my advice are tailgating 50% gains. Those are great returns. Amazing returns, in fact. But it’s not unusual. Such amazing returns are par for the course in Daily 10X Stock Report, where we deliver to your inbox, every day the market is open, a potential 10X investment idea.So far, in just a year’s time, we’ve delivered more than 100 triple-digit winners and six 10X picks, including Nio (NYSE:NIO), Plug Power (NASDAQ:PLUG), Zomedica (NYSEAMERICAN:ZOM) and MindMedicine (NASDAQ:MNMD).When I say this, I’m not bragging, I’m only telling you the facts; but our history of getting it right in DTX is backed by an unprecedented track record.To find out more about this research product — to tap into the secret force we use to pick 10X winners more regularly than anyone else — click here.But back to Polygon… Daily 10X subs are up so much on the coin because this is one of the best cryptos in the market today. Its huge upside rally is just beginning, though. Let’s take a moment and unpack this:
Polygon is the hottest cryptocurrency right now. Despite its 100%-plus uptrend, the price of Polygon still sits below $2. And, on a fully diluted basis, MATIC’s market capitalization is still less than $18 billion.
Basically, while Polygon prices are soaring right now, there’s still plenty of room aboard this flight. Why? Well, the fundamentals of course!
Polygon is a very technologically interesting token with huge potential, and that potential is far from being fully priced into Polygon’s token today.
For the time being, Bitcoin and Ethereum are the two most popular blockchains. But they are far from perfect. One of their biggest downfalls is that they are both plagued by high transaction fees due to congestion, as neither was built for the kind of traffic they’re currently seeing.
Polygon was designed to solve this problem by utilizing what are known as “sidechains.”
Sidechains are blockchains separate from but compatible with Ethereum that exist to create alternative avenues for transactions and improve scalability. If you think of the main Ethereum blockchain as a “highway,” sidechains are “side roads” that can help unload some of the traffic on the main highway during rush hour.
These sidechains have become increasingly popular because, with them, you get the best of both worlds. On one side, you get to eliminate the high fees associated with congestion on popular blockchains. On the other side, you still get to tap into the core technological benefits of popular blockchains, which include — among other things — an established developer base and existing code infrastructure on such blockchains.
Many folks in the crypto world believe that sidechains will be a fundamental building blockchain of the new blockchain economy. I agree. And that’s why I like Polygon token so much.
The Polygon Purpose
By definition, Polygon is a multi-chain network of sidechains, each of which serves a slightly different purpose, and all of which are compatible with Ethereum.
In other words, Polygon is a bunch of side roads which Ethereum developers can use to more quickly and cheaply develop apps on the Ethereum blockchain. It’s a very valuable network.
The Polygon blockchain was originally called Matic, hence MATIC being the token symbol, and it’s one of the hottest cryptos in the market right now.
As of this writing, Polygon prices are up more than 100% on the day — so, the market clearly sees the enormous value in this token.
But I firmly believe that the best of this growth narrative is yet to come, and that when all is said and done, Polygon has a chance to be one of the most valuable cryptocurrencies in the world.
And there are other altcoins like Polygon that are under-reported and underserved by the broader markets. Which is why we’ve put together a team of qualified cryptocurrency experts who understand blockchain technology at the most granular level, and who are researching cryptos all day, every day.
The team’s goal? Put together a portfolio of cryptos that aren’t all hype – and will instead, impact the world over the next two decades the same way that Amazon and Alphabet impacted the world over the past two decades.
We aren’t done. The job here is never done. There is so much progress and innovation happening in the crypto world right now that our research is a never-ending evolution…
The key to striking it rich in the crypto market right now is to buy the right cryptocurrencies – the most technologically-advanced cryptocurrencies with the most value-additive applications.
And we are finding a few cryptos that we think – thanks to their technological superiority, clear value-props, and widespread use-cases – will be enormous winners over the next 3, 5, 10-plus years.
My team and I are currently doing the hard work of sorting through these potential cryptocurrencies and highlighting the best ones … the cryptos that will weather the coming cryptocurrency crash and emerge from it ready to soar 10X, 100X, or 1,000X over the next two decades.
So what are my favorite cryptocurrencies other than Polygon? I can’t tell you here. But you can find out by becoming a Daily 10X subscriber, where each day the markets are open I deliver to your inbox a stock or crypto pick that I believe has 10X upside potential.
If you had subscribed on Monday, the money you would have made from my Polygon recommendation would more than offset the price of this hugely valuable research service.