The Polygon Foundation, responsible for the Polygon (MATIC) blockchain, is facing controversy over its MATIC token allocation. An investigation by ChainArgos revealed discrepancies in token distribution, particularly in the launchpad sale and staking tokens. Notably, 400 million Polygon (MATIC) tokens were directed to an address linked to Binance, raising questions about the foundation’s transparency. This issue, coupled with a significant transaction volume involving the marketing and ecosystem wallet, has led to concerns about Polygon (MATIC) market stability. The price of Polygon (MATIC) experienced a sharp decline, dropping nearly 60% from March to June 2023.
These happenings might have an impact on the market as a whole and suggest that now is the time to look beyond Polygon (MATIC) if you want to see more green. We compiled a list of the most promising coins that deserve more attention than they are getting in the current market.
ScapesMania: A Newcomer to the Crypto Scene
As February approaches, the completion of ScapesMania’s fundraising campaign is nearing. The immediate listing on tier-1 platforms is set to follow, potentially catapulting the ScapesMania token into the stratosphere.
The journey to success begins with strategic post-listing marketing. Guided by a team with extensive expertise, ScapesMania is poised to achieve new heights.
Furthermore, a journey with ScapesMania isn’t just about holding digital assets; it’s about enjoying the perks of token buyback & burn and staking.
In a world saturated with memes, ScapesMania’s token stands out with its robust utility. Join the community that believes in the real-world applications and long-term viability of ScapesMania!
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Standout Features
ScapesMania is a one-of-a-kind gaming ecosystem, where crypto-savvy audiences join forces with the community of casual players, paving the way to substantial growth. The ScapesMania community is buzzing with enthusiasm, which is reflected in $4 400 000+ raised from crowd/retail contributions to date.
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Empowering Holders
Acquiring ScapesMania tokens unlocks extra perks. By joining the presale, you can access bonuses totaling up to +107%. You can also score referral rewards by introducing ScapesMania to your friends.
Verified Excellence
ScapesMania’s smart contract has successfully undergone scrutiny from leading security-ranking companies, providing peace of mind for holders.
Behind ScapesMania is an award-winning team that secured a prestigious grant from a prominent player in the blockchain industry. The team is constantly engaging with a flourishing community of over 60K+ followers.
Potential for Expansion
ScapesMania is part of the massive $376 billion gaming industry, and its growth potential is fueled by this booming market. Already featured on major tracking platforms, ScapesMania is expected to hit major exchanges soon, with negotiations currently underway. After its debut on exchange platforms, holders can expect greater liquidity and easier access to trade.
In recent developments, a wave of momentum was created by crypto whales with checks of $20,000+ choosing ScapesMania as their next big potential gainer.
ScapeMania’s Prospects
ScapesMania tokens are currently a steal, priced at just $0.007732 per coin during the presale. By joining the presale, early adopters could potentially be looking at significant returns after ScapesMania makes its debut on exchanges. Of course, the already-advantageous ROI can only be just the beginning as ScapesMania has ambitious plans for its multi-stage post-listing development.
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Polygon (MATIC) Faces Uncertain Future Amid Allocation Concerns and Critical Resistance
Polygon (MATIC) has recently become the center of attention due to a series of events that have raised concerns and sparked speculation among investors and enthusiasts alike. The Polygon Foundation is currently under scrutiny for alleged irregularities in the allocation of its Polygon (MATIC) tokens, as reported by ChainArgos. This controversy has been compounded by a substantial transfer of 7.6 million Polygon (MATIC) tokens from an unknown wallet to the Polygon Staking platform.
The technical analysis of Polygon (MATIC) price trajectory presents a tale of resilience and struggle. After reaching its all-time high in December 2021, Polygon (MATIC) experienced a significant decline, grappling with a descending resistance trendline for over 750 days. Recent attempts to break through this trendline have been unsuccessful, leading to a bearish outlook in the short term. According to Elliott Wave theory, Polygon (MATIC) faces two possible scenarios: a bullish surge towards $1.18 or a bearish downturn towards $0.65.
Considering the current market sentiment, technical analysis, and the ongoing controversies, it is challenging to predict the exact future price of Polygon (MATIC). However, if the bullish scenario prevails and Polygon successfully navigates through these challenges, we could see a rise in Polygon (MATIC) price towards the $1.18 mark. Conversely, if the bearish outlook takes hold and concerns over token allocation continue to weigh on investor confidence, Polygon (MATIC) price may experience a decline towards the $0.65 support level.
Conclusion
The controversy surrounding Polygon (MATIC) due to allocation issues and market challenges has created uncertainty in its future. This situation, coupled with the emergence of promising new cryptocurrencies like ScapesMania, suggests a shifting landscape in the crypto market – now it’s newcomers that seemingly offer much larger gains over the short- and long-term distance.
Site: https://scapesmania.io/
Twitter: https://twitter.com/ScapesMania
Telegram: https://t.me/scapesmania
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Source: https://coinedition.com/polygon-matic-investors-exploring-scapesmania-to-lead-market-in-2024/