This is the question on everyone’s lips in the cryptocurrency world: which coins are ready to explode? After historic gains across the board in 2021, crypto has truly burst into the mainstream. Adoption rates have never been higher, increasing by around 880% from July 2020 to June 2021, and there are now over 300 million crypto users worldwide.
Almost all major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), have seen substantial growth in 2021. Looking to 2022, competitors have nearly unprecedented room to close the gap. Experts suggest that there are three main areas where the market will grow:
- The Metaverse
- NFT (non-fungible tokens)
- DeFi (decentralized finance)
DeFi protocols hit a record TVL (total value locked) of $236 billion in October 2021, and PricewaterhouseCoopers economists expect blockchain technologies to boost global GDP by $1.76 trillion by $1.76 trillion. 2030. Polygon (MATIC) and Fantom (FTM) have proven extremely popular with DeFi protocols. Failover Protocol (SSW) is a DeFi token launched in the first quarter of 2022 and will aim to shine in this expanding market.
Polygon is a layer 2 solution that helps connect Ethereum-enabled blockchain networks. The major problem with Ethereum in its current form is its scalability; gas charges can be notoriously high and on some occasions cost more than the value of the transaction itself. Polygon, and its native token MATIC, allows users to avoid these high fees and sometimes slow speeds while using decentralized applications on the Ethereum network.
In 2021, MATIC has seen an increase of more than 16,000% since the beginning of January until its peak, which was reached in December. Polygon will look to establish itself as one of the top 10 cryptocurrencies in 2022 (it is currently ranked 13th) and can do so by embracing new markets such as buying and selling NFTs. NFT transactions with MATIC are already often cheaper and easier than those purchased with ETH, and crypto analyst Lark Davis believes that “a $10 MATIC is inevitable.”
Fantom is a smart contract platform that provides DeFi services to developers. Fantom focuses on the speed at which transactions are made and claims to have reduced the speed of transactions with FTM to less than two seconds. FTM forms the backbone of trading on the Fantom platform and allows its users to stake FTM to earn rewards. Fantom currently has over 1.4 million unique addresses.
2021 has been an extremely successful year for FTM. It started the year at $0.01692 and hit a new all-time high of $3.48 in October, a 20,000% 10-month increase. Given that it is much faster at processing transactions than the leading DeFi Ethereum ecosystem, 2022 could be a huge year for Fantom. It remains outside the top 25 cryptocurrencies by market capitalization but has the utility and popularity to be in the top 20 by the end of the year.
Switch Protocol (SSW)
With its launch in the first quarter of 2022, Seesaw Protocol joins the growing number of DeFi protocols that are causing a stir. Its creators want it to be multi-chain, starting with the Binance smart chain and expanding to Polygon and Ethereum networks.
Using its native SSW toke, Seesaw Protocol allows its users to transact in these booths. This could be advantageous given the currently high fees attached to certain transactions, particularly NFTs, on the Ethereum network. Finding a faster and more profitable network to transact on is highly desirable for the millions of people interested in NFTs.
To encourage stability and reward those with a longer-term strategy, SSW also comes with a 3% buy-in fee and a 5% sell fee. Buying fees are split among existing holders, while selling fees are associated with BNB and added as a liquidity pair on Pancakeswap. As proven with Solana and Shiba Inu, investing early in a project can reap the greatest possible rewards. Seesaw Protocol is one such opportunity.
For more information, check out the following links!
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