The global crypto market has sailed to yet another round of correction, which has slashed valuations of numerous digital assets. The recent fall has costed the business to lose its market cap threshold of $2T.
Successively, the market capitalization of the crypto verse is presently hovering around $1.85 T, with a 1.6% rise over the previous day.
Older hands from the industry are keen on making the most out of the plunge. And have been making informed decisions prior to buying the dips.
The checklist of tests now involves on-chain analysis, which has become a priority ahead of placing buy-orders. In succession, MATIC, AVAX, and FTM are now under the radar of analysts and traders.
Will These Altcoins Emerge As The Coins For The Masses Ahead Of The Alt Season?
Polygon (MATIC):
Polygon with its stout fundamentals, developments, and utility has now emerged as a prominent altcoin in the business. And is now under the radar of analysts and buyers. According to Lunar Crush, the social volume of MATIC is presently at 137.41k, with current numbers at 982. The change over the past week is recorded at -14.4%.
The change over 7-days is recorded at -1.5%. In contrast, the total transaction count is at 1419.80 M, while the processing rate is at 35.1 TPS.
The daily transaction count has been attempting for a revival to highs of the previous quarter. However, the count has been moving southwards.
As of 20th February, the total transaction count is at 2,588,860. Which has risen from the previous day’s count of 2,760,771. The count of unique addresses as of (20-02-2022) is at 137,320,076, with a daily increase of 77,430.
Avalanche (AVAX):
Avalanche’s social volume is presently at 20.11k, with a current score of 86, the change in statistics over the past week is at 83.8%. The social engagement of the network is at 36.94 M, with the current numbers at 592.7k.
The difference in statistics for a period of 7-days has been an astounding 99.6%. The average sentiment is at 56, while the current score remains at 65, the change in average sentiment over the week has been 1.3%.
The total transactions on the network at the time of press is at 105.65 M. While the rate of transactions processed is at 9.67 TPS. Learning from sources, the daily transactions on the network’s C-chain has grown steadily from 817,097 on the 14th of February to 996,667 as of the 20th of February. Which is inline with its aim of hitting its highest count at 1,100,404.
The count of daily increase of unique addresses on Avalanche C-chain has been attempting for a linear trajectory. As of 20th of February, the total count is at 2,039,265, the daily increase for the day is at 8,661. Which has taken a dip since the previous day’s spike of 14,145.
Fantom (FTM):
The social volume of Fantom at the time of press is at 56.59k, while the current numbers stand at 188. The degree of change since the past week is negative by 24%. Coming to the social engagement front, which stands around 83.85 M.
The present numbers are scripted at 110.32k, the change observed over the week accounts to -5.3%. The average sentiment of the network is recorded at 62 against the current score of 60. The change here over the past week is at -0.3%.
The number of transactions recorded on the network are 197.44 M, while the present TPS is at 7.3. The numbers of daily transactions have been picking up since the start of the year. However, the oscillations have hammered to bottoms along the path. On the 20th of February, the total count was recorded at 961,850, which includes newer addresses counting 13,859. In comparison, the previous day’s 11,028.
Coming to the unique addresses, the total count at the time of writing hovers around 2,118,970. As of the 20th of February, the daily increase in scripted at 13,859. Which has risen steadily over the past few days from 11,028, 9,189, and 10,628 respectively. The current numbers however, stand short to the highest peak at 40,478, which gives a broader perspective.
Summing up, the aforementioned digital asset could possibly make it big in the near future, owing to the stout fundamental perks. That said, while the on-chain metrics have been not that enthralling. Consequently, the daily transaction count, unique address, and social metrics give a brief picture of the ongoing trends for an informed decision.
Source: https://coinpedia.org/altcoin/heres-why-matic-avax-and-ftm-eyeing-15-run-in-the-near-term/