Polygon (MATIC) See Staking Boom, Experts Set A $1 Price Target For This New DeFi Exchange
Staking has become one of the most well-known activities in the cryptocurrency space as it allows users to earn passive income while simultaneously securing the network. Following an upgrade of its staking service, Polygon (MATIC), is currently experiencing a boom in the number of coins locked on the network.
Market experts have predicted that if the staking boom continues, Polygon (MATIC) could embark on a bull run. For Tradecurve, experts have set a price target of $1 as the new decentralized finance (DeFi) exchange brings a new concept that could transform cryptocurrency trading.
Polygon (MATIC) Sees Spike in Staking
In January, Polygon (MATIC) made several changes to improve the staking services on its network, and since then there has been a significant increase in the number of tokens staked on the network. In the last month, the number of MATIC tokens locked to secure the network has increased by more than 30%.
In May, more than 50 million new MATC tokens, or 0.5% of the total supply of Polygon were staked. The increase in staking also follows a rise in the daily active addresses of Polygon. Between May 22 and 31, the Daily Active Addresses of Polygon (MATIC) increased by 25%. The rise now means Polygon has more than 313,000 active users every day.
According to experts, if the on-chain data of Polygon continues increasing at this rate, it could inspire a bull run for MATIC. At the time of this writing, Polygon (MATIC) trades at $0.7724, and there are predictions that the price of the coin could rally to as high as $1.5 before the end of 2023, only if the network continues increasing at this pace.
Experts Set $1 Price Target for Tradecurve
Another project experts are bullish about is Tradecurve, being that it has the potential to revolutionize the trading sector by introducing a platform where users will be able to trade stocks, CMDs, forex, options, ETFs, and more from a single account. This will allow users to unify all their trading activities across a wide variety of financial instruments without needing to open multiple accounts.
Tradecurve’s native token, TCRV, currently trades at $0.015, but experts believe the price could hit $1 before the end of the year because of the potential that lies within these markets. In figures, the global forex market has a daily turnover of $7.5 trillion while the global over-the-counter derivatives market is valued at over $632 trillion.
As the first platform to connect these markets with cryptocurrencies, experts believe Tradecurve has the potential to claim a dominant market share, like Bitcoin, the first crypto to launch. With this, they have given Tradecurve a price target of $1, with other more bullish investors predicting a 100x price rise to see TCRV trade as high as $1.5 when the Tradecurve trading platform launches.
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