While there is no doubt that Shiba Inu (SHIB) and Polygon (MATIC) are well-established tokens and solid investments for the long term, a new token known as Calyx (CLX) could also turn out to be a good potential long-term investment. Shiba Inu has followed in the footsteps of Dogecoin and has become the second most popular meme cryptocurrency. It has managed to successfully leverage the power of community along with a solid use case in the form of a metaverse empire. Polygon is the best-known layer 2 solution network currently available that has also managed to branch out into a full-fledged blockchain network supporting many dApps.
The Calyx Protocol helps in swapping tokens across multiple blockchains at the click of a button and is completely decentralised, allowing users to stake coins and govern the protocol through a DAO. Let us delve a bit deeper into these three coins and find out if they are worth investing in.
Many Ethereum whales have shifted focus toward the SHIB Token and have managed to accumulate huge volumes. One such Ethereum whale is known as "Bombur" has bought a record 207B SHIB in the recent past and now owns more than 855B Shiba Inu Tokens. This tremendous faith in the Shiba Inu token is perhaps due to the launch of a burn mechanism that will reward users for sending the coins to a burn address. This will help in reducing the supply of SHIB and will install a deflationary mechanism which generally helps in a price spike. The SHIB Token can be considered for the long term as it is coming up with many new innovations that could help generate interest among both institutional and retail investors.
As per the Polygon quarterly report, the number of decentralised apps on polygon has tripled every two months since the mid of 2021 and the number of dApps on Polygon was at 11,400 in January 2022. This represents a massive increase of 11x when compared to August 2021 when the total dApps on the MATIC network was just 1000. Gas activity is also a good indicator of the amount of adoption in a particular blockchain network. The gas fees paid on the Polygon network on 1st January 2022 were 100% more than the gas paid on 30 December 2021. Polygon has been able to perform 700% more transactions than Ethereum and some of the major names building on the MATIC network include Dolce and Gabbana, AAVE, OpenSea, and Lazy.com.
The MATIC Token is a good investment heading into the summer of 2022 and beyond. The amount of network activity on Polygon is insane and will ensure good growth for MATIC.
The Calyx Token is an upcoming secure and permissionless exchange protocol that will help users leverage the power of decentralised finance and exchange tokens quickly and at cheaper rates than other protocols.
The CLX Token can be bought at presale available here.
The Calyx protocol will be governed by a community known as CalyxDAO. The CLX token will be transferable on multiple blockchain networks such as Ethereum, Polygon, Binance Smart Chain, Fantom, and Avalanche.
Moreover, the decentralised network being built by Calyx will allow instant trades through innovative artificial intelligence algorithms that will help in equalising prices across all token markets. The CLX network is built for instant swaps and you will be able to exchange tokens in a single transaction without any delay.
Head over to the Calyx site provided below and find out more information about this new project. Cryptocurrency investments are subject to market risks so carry out due diligence and research a project before making a decision.
Disclaimer: The information posted in the article is for educational purposes only. By using this, you agree that the information does not constitute any investment or financial advice. Do conduct your own research and reach out to financial advisors before making any investment decisions.
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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.