2021 was a big year for several cryptocurrencies, and among them were Polygon (POL) and Cardano (ADA). These cryptos led the wins as they recorded all-time highs. Polygon (POL) price surged to $2.92 from $0.03. Cardano (ADA) also had an all-time high of $3.10.They have lately encountered difficulties; the market hasn't been friendly for both cryptocurrencies in 2024. Under this situation, will they ever once more achieve their 2021 peaks? Alternatively, are they done for good?
2021 was favourable for Polygon (POL), which was formerly MATIC. Starting January at $0.03, it touched down in December with massive gains as it surged to $2.92, nearly reaching $3. Nevertheless, POL has dropped off its ATH. It fell below $0.57 in August, which set off further falls from $0.446 to $0.3775. Most of POL's investors are left with losses as a result of its protracted declines. Data from Into The Block show that 95% of its investors—including 81% of its long-term holders—are claiming unrealized losses. This isn't a good picture for Polygon, and it has led to a growing negative sentiment as investors sell off their holdings. This poor performance has also been reflected in the social sentiment, which is mostly negative. With investors' confidence at an all-time low, Polygon’s move upwards is increasingly difficult. Polygon remains a strong player in the Layer 2 network due to its undeniable relevance. However, its prolonged struggles make it nearly impossible for the token to reach its 2021 peak anytime soon. $2.92 is a realistic price for POL, but this price target can only be hit in the future, given Polygon's current pace and price predictions.
Cardano (ADA) has also struggled in 2024 with its price, which was a shadow of its gains in 2021 when it peaked in September at $3.10, an all-time high. Declining sharply, Cardano (ADA) has dropped roughly 88% to 90% since 2021. Recently, it even lost its position in the top ten spot, ranking according to market capitalization. With TRON outperforming it, ADA has been run out of the list, currently sitting at number 11. The loss of interest in Cardano remains evident despite several attempts to revive it, including the Change Hardfork Upgrade and the Voltaire Upgrade. One factor that has sustained negative sentiment around the cryptocurrency is the SEC’s move to label ADA as an unregistered security in June 2024. This had significant impacts on not only the ADA price but also investors' confidence, and it's yet to recover from this. While it’s still possible for ADA to revisit its glory days, it's difficult to predict when this will happen. Yet, it's certainly not anytime soon. An economist had even predicted that this would take nearly a decade. Changelly statistics also don't expect ADA to hit this target until 2030. With ADA currently trading at $0.35, without a catalyst to speed up its momentum, this may well be the case for the crypto. Meanwhile, a newcomer on the block is quickly gaining ground with its ongoing presale. Rexas Finance (RXS) is currently in the fourth stage of its presale and has since raised almost $4 million, selling over 84 million tokens at $0.06. The next phase is set at $0.07, marking an over 2X increase from its starting price of $0.003.
Leveraging blockchain technology to open up a world of financial possibilities, Rexas Finance aims to bring the global market to your fingertips. The project democratizes access to real-world assets (RWAs), creating an entry point that was previously unavailable. Through tokenization, Rexas Finance is able to offer fractional shares of key assets like precious metals, real estate, and commodities. This has become a unique selling point for Rexas Finance, as the crypto community is excited about the opportunity to participate in the billion-dollar RWA sector with low capital. With tools like Rexas Token Builder, Rexas DeFi, Rexas Launchpad, and Rexas Estate, Rexas Finance provides formidable tools that will stand the test of time while offering users premium services that will transform their knowledge of decentralized finance. Its presale makes up 42.5% of its tokenomics, maintaining a community-focused approach that aims to empower its community.
Rexas Finance also achieves this through its ongoing giveaway, which is set to give $50,000 to 20 lucky winners, rewarding the community for its support. With the growing interest in Rexas Finance and its listing on CoinMarketCap enhancing visibility and liquidity, experts believe that RXS can witness a significant rally following its listing at $0.20. Still selling as low as $0.06, investing in RXS is an excellent opportunity for investors looking to branch out from Polygon and Cardano.
The possibility of Polygon (POL) and Cardano (ADA) revisiting their success stories of 2021 soon remains very low. As a result, more profitable investment opportunities like Rexas Finance (RXS) could be the key to financial freedom in the crypto space. Rexas Finance is poised for a major breakout once it lists at $0.20. Now is the best opportunity to buy into this low-cost, high-value opportunity in 2024.
Website: https://rexas.com
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.