Polygon (MATIC) has announced its Polygon (MATIC) Version 2.0, which will serve as a ‘blueprint to build the Value Layer of the internet.’ While Polygon (MATIC) expected it would fetch them new investors, the upgrade is having the opposite effect on their token price, which has been in free fall. As investors flee Polygon (MATIC), they are diverting that capital to TMS Network (TMSN) and Chainlink (LINK). Here’s what’s happening.
What’s Happening to Polygon (MATIC) Price?
In the lawsuit filed by US Securities & Exchange Commission (SEC) against Binance and Coinbase, many cryptocurrencies have been classified as securities. Polygon (MATIC) is one of them. With this, the SEC has clarified that it is illegal for exchanges to trade cryptocurrencies like Polygon (MATIC). Since the news broke, Polygon (MATIC) has been losing its value.
It looks like Polygon (MATIC) developers believed that Polygon (MATIC) 2.0 would reverse the downtrend, but that has not happened. The price of Polygon (MATIC) is still trading at around $0.6 and is expected to fall further.
Polygon (MATIC) is being developed offshore and will be deployed outside of the US. This has been an important point that Polygon (MATIC) tried to communicate through its recent tweets in response to being classified as a security by SEC. But it has not gone down well with the investors.
The strong bear market suggests that sellers are dominating. The trading volume for Polygon (MATIC) remains high as the price keeps falling, so investors are quickly exiting their positions in Polygon (MATIC). From what is being observed in the market, they are moving to TMS Network (TMSN) and Chainlink (LINK).
Everything’s Working for TMS Network (TMSN)
TMS Network (TMSN)) has been a hot-ticket item for a while now. TMS Network (TMSN) is a decentralized exchange that allows users to trade in traditional and crypto assets. So, traders of stocks, forex, CFDs, and cryptocurrencies can use one platform to trade all their assets. The transparency and features of the DEX are making it popular. Its presale sessions have been a huge success, with TMS Network (TMSN) raising over $6 million.
The price of TMS Network (TMSN) has been on an upswing since the launch of its stage 1 presale. But, with investors moving out of Polygon (MATIC), the stage 4 presale of TMS Network (TMSN) is showing even more promising results. The token price has increased from $0.025 in the stage 1 presale to $0.11 in the ongoing stage 4 presale. So, TMS Network (TMSN) has already delivered returns of nearly 300% to its early investors.
Expert estimates predict that TMS Network (TMSN) will grow by 5,000% after the launch.
Chainlink (LINK) is On the Rise
Chainlink (LINK) was launched in 2017, and the project has carved out a niche for itself in the crypto market. Chainlink (LINK) uses the Oracle network to link smart contracts to real-world data sources. In 2023, Chainlink (LINK) partnered with multiple platforms to its platform.
In March 2023, Chainlink (LINK) partnered with Aave (AAVE) to use automation development at Chainlink (LINK) for the robot development project of Aave (AAVE). In May 2023, they collaborated with Avalanche (AVA) to integrate features of Chainlink (LINK) in the Avalanche Fuji testnet. These and many other network developments are reigniting investor interest in Chainlink (LINK).
The price of Chainlink (LINK) has been increasing. It has appreciated from $4.99 to $5.31 in a matter of 72 hours. Chainlink (LINK) is expected to increase further as it expects higher capital inflows from Polygon (MATIC) investors.
Join the Presale:
Presale: https://presale.tmsnetwork.io
Website: https://tmsnetwork.io
Telegram: https://t.me/TMSNetworkIO
Twitter: https://twitter.com/@tmsnetwork_io
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