The recent bearish trend has cast a shadow of uncertainty over digital assets. ApeCoin (APE) and Polygon (MATIC), two projects that have shown promise in the past, are currently grappling with bearish pressure. A new player has emerged on the scene, Watchvestor (WVTR), attracting a lot of investors.
Can Polygon 2.0 Launch Fuel a MATIC Rally?
Persistent bearish trends in the crypto market have led Polygon (MATIC) to drop as low as $0.6159 today. Despite the MATIC/USD dropping by more than 10% in the last week, crypto experts have predicted a rally for the altcoin.
The upcoming Polygon 2.0 is one big event that is expected to trigger a rise in the price of the Polygon token. The rebranding is expected to increase the scalability and efficiency of the blockchain. As a result, the price of Polygon has been projected to rise in value.
According to crypto experts, the price of Polygon might rise to $2 or perhaps $3 as the rebranding happens. The full scope of this rebranding is still being developed, which means the rise to this new high for Polygon could last until 2024.
ApeCoin Price Prediction As Meme Coins Make a Comeback
ApeCoin (APE), the utility token of the world’s largest non-fungible token (NFT) ecosystem, has been subjected to intense selling pressure. In the last three days, the price of ApeCoin has plunged by about 15% over the last three days.
At the time of this writing, ApeCoin currently trades at $1.80. This price drop contrasts the increase in prices among many meme coins over the last week. The ApeCoin price is currently under selling pressure from addresses that control 625.65 million APE worth about $1.28 billion.
In addition to the current market conditions, there is a shift in APE supply from long-term holders to short-term holders (traders) further adding to the decline. If this trend continues, the price of ApeCoin might fall to historic lows of less than $1.72.
Investors Turn To the Intriguing Watchvestor (WVTR)
As the crypto market grapples with bearish pressure, investors have turned to a project which offers more promise – . As a new project with a unique use case, Watchvestor has caught the attention of investors and crypto experts, who are bullish about the project.
Watchvestor is building the world’s first luxury watch marketplace on the blockchain. The marketplace will feature rare collectible watches from brands like Rolex, Patek Phillippe, Richard Mille, and Audemars Piguet. Traditionally, these collectible watches cost thousands of dollars, putting them out of the reach of many investors.
However, this new project will reduce the barrier of entry to $10, using fractional NFTs. The NFTs listed on the marketplace will be backed by real watches stored in vaults. But since fractional NFTs can be split, investors can buy fractions starting at $10.
Investors who buy the whole NFT can have the watch shipped to any of the 150 countries supported by Watchvestor. New concepts in crypto are often the most successful. As a result, crypto experts have predicted that the platform’s utility token, WVTR, which now trades at $0.03 could trade as high as $0.5 before the end of the year.
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