Crypto costs still take a beating, however value-focused investors may contemplate taking a more in-depth scrutinize MATIC, FTM, DOT, FXS and CRV.
The pain trade has been an unwelcome sight across the cryptocurrency market since the beginning of 2022 and over the past 24 days Bitcoin (BTC) and therefore the altcoin costs have drifted, leading some analysts to counsel that a market is at hand.
Despite traders' concern that another extended crypto winter might be beginning, it times like these once investors will exploit nice opportunities to select up fundamentally sound cryptocurrencies at a reduction.
In that vein, here’s a closer investigate many comes with sturdy fundamentals and a well-tried use case that would be sensible candidates for accumulation throughout the present market correction.
Polygon (MATIC)
The Ethereum (ETH) layer-two scaling solution plane figure (MATIC) is presently down 50.76% from its all-time high of $2.92 that was established on Dec. 27, 2021.
Polygon saw an incredible amount of growth and adoption over the course of 2021 because its compatibility with Ethereum and low dealing prices created it a destination for users and protocols that were looking for a way to stay on the Ethereum network and avoid the high value of transactions.
The network is capable of hosting all manner of localized applications including disposition protocols like AAVE, localized exchanges like Uniswap or diversion and nonfungible token comes like Aavegotchi.
With the capabilities and final date for the rollout of Eth2 still unknown, layer2 solutions like polygon are seemingly to still see inflated engagement as users seek lower-fee transactions.
Fantom (FTM)
Fantom (FTM) may be a layer-one blockchain protocol that conjointly rose in prominence over 2021 as its low fee environment and Ethereum Virtual Machine (EVM) Compatibility helped attract new users and protocols to the network.
Data from Cointelegraph Markets professional and TradingView shows that the worth of FTM is presently down 36.3% from its December highs and trading at a worth of $2.15 at the time of writing.
The optimistic case for FTM is backed by the continued rise total worth secured (TVL) on the Fantom network despite the market-wide pullback, with information from Defi llama showing that the Fantom TVL is presently at an all-time high of $12.07 billion.
When compared to competitive networks like Solana (SOL) that has a TVL of $7.62 billion, Fantom holds additional price and has not experienced any major network disruptions like Solana, yet it trades at a big discount when compared to the price of SOL.
With the present worth of SOL standing at roughly $90, the value of FTM would need to be $18.10 to own a matching market cap, suggesting that Fantom is undervalued relative to its layer-one competitors and has the potential to shut that gap as 2022 progresses.
Polkadot (DOT)
Another token that would doubtless be in a very smart accumulation zone is Polkadot (DOT), a sharded multi-chain protocol whose goal is to facilitate the cross-chain transfer of any information or quality sorts across multiple blockchain networks.
Data from Cointelegraph Markets professional and TradingView shows that the value of DOT has been on the decline since early November 2021 because the token underperformed its cohort of layer-one comes presumably due to the shortage of a functioning bridge to Ethereum.
This all modified on Jan. 11 when Polkadot’s moon ray (GLMR) parachain formally launched and established the primary cross-chain bridge for the Polkadot network. As of Jan. 24, moon ray has processed more than 1,329,000 transactions and supports more than 700 ERC-20 tokens.
As alternative parachains formally launch on Polkadot within the months ahead, DOT has the potential to see a rise in demand and token worth as users look to urge committed the Polkadot network.
Curve (CRV)
When it involves the increasing importance of the stablecoins within the crypto market, Curve DAO token has emerged collectively of the foremost sought-after tokens by investors and protocols who are vying for management of governance on the platform.
After striking a record high of $6.80 on Jan. 4, the worth of CRV has fallen hour and currently trades at $2.76 according to data from TradingView.
Even with the call CRV value, the continuing ‘Curve Wars’ recommend that demand for the token is likely to rise once the present weakness within the market subsides as localised finance comes arrange to accumulate governance powers over the Curve system.
At the time of writing, a complete of 49% of the current offer of CRV is fast in veCRV, the balloting token for the Curve protocol.
( Jordan Finneseth, Cointelegraph, 2022)