Although the global cryptocurrency market has cooled off since its impressive run earlier this year, that hasn’t stopped enthusiasts from placing their bets on digital assets.
According to CoinMarketCap, there are currently around 16,200 cryptos and over 450 exchanges worldwide, and the number is increasing daily.
However, in addition to celebrities like Bitcoin (BTC) and Ethereum (ETH), hundreds of others, if not all, have caught the attention of investors. We’re investigating two cryptos that have received a lot of attention this year and may continue to see similar buzz next year.
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Polygon, formerly Matic Network, is the first well-structured and user-friendly platform for scaling and infrastructure development of Ethereum. It was co-founded by Sandeep Nailwal, Jaynti Kanani and Anurag Arjun and launched in October 2017.
Matic is Polygon’s native token, codenamed ERC-20. It runs on the Ethereum blockchain and is mainly used for payment services.
The ERC-20 is used as the billing currency between users in the polygon ecosystem.
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At 2:05 p.m. ET on December 30th, the MATIC coin was priced at $ 2.58, down 0.46%.
Polygon has a market cap of $ 18.48 billion and a fully diluted valuation of $ 25.80 billion.
In the last 24 hours through Thursday evening, the coin was trading in $ 2.11 billion.
The price of the Polygon coin has increased by 1,349.27% since the start of the year.
The 52-week high and low were $ 2.92 and $ 0.01711, respectively.
It hit an all-time high of $ 2.92 on December 27, 2021.
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Polkadot is an open source sharded multichain protocol that connects and secures a network of advanced blockchains and facilitates the cross-chain transfer of data or assets while at the same time enabling interoperability of the blockchains with one another. It was developed as the foundation for the decentralized internet of blockchains called Web3.
The DOT is a native token for Polkadot. It has three purposes: staking for operations and security, facilitating network governance, and bonding tokens to connect parachains.
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The DOT coin was priced at $ 28.35 ET on December 30 at 2:10 p.m. ET, up 0.82%.
Polkadot has a market cap of $ 27.99 billion and a fully diluted market cap of $ 31.14 billion.
The coin’s last 24-hour trading volume was $ 1.45 billion on Thursday evening. It gained 222.24% YTD. The coin recorded the highest price of $ 55.00 and the lowest price of $ 7.17 in the past 52 weeks. It hit an all-time high of $ 55.00 on November 4, 2021.
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Cryptocurrency was one of the most talked about topics on social media in 2021, drawing thousands of new investors to the market. However, the volatility of digital assets, despite its growing weight and influence, is a major drawback in the crypto market. Hence, investors should carefully examine cryptocurrencies before investing in them.