Altcoins

Fundamentals Backing MATIC, FTT, CHO, and SAND as Top Altcoins to Watch In Fall 2022

The cryptocurrency ecosystem continues to show vibrancy, with both buying and selling activities demonstrating great momentum, and constantly being tilted in either the positive or negative direction by macroeconomic events. As a result, the price of digital currencies shows a corresponding impression.

August 2022 has been quite tumultuous for the crypto market, with bankruptcies and protocol breaches further dampening the outlook for many people. But even in the face of a market downtrend, some cryptocurrencies have proven to be more resilient, and are worth getting a place on every investor’s watchlist this Autumn.

Here are some of the coins that ought to be closely followed moving forward:

Polygon (MATIC) – Pioneering Scaling Protocol

Polygon is the first easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

While it complements transactions on the Ethereum protocol now, its role is bound to be further enhanced following The Merge, an Ethereum chain fusion that is slated for next month.

Polygon is currently changing hands at a price of $0.8342, up 1.31% in the past 24 hours. Though Polygon has lost 67.08% of its value in the Year-to-Date (YTD) period, it has also soared by 35.03% in the past 3 months, showing the strength and adoption of the MATIC token.

Choise.com (CHO) – Platform for Passive Income

Choise.com is a MetaFi ecosystem designed to allow users to earn more on digital assets that they are hodling. To this end the platform brings together a variety of products from both CeFi and DeFi sectors.

The design of Choise.com combines the best features of both fields to provide the most attractive options for people to invest their funds in. For example, the platform recently launched Web3.0 interest accounts that allow Choise.com users to earn up to 26% APY on its native token CHO, as well as several other digital assets.

Despite being relatively new, CHO is gaining traction fast, not just for the robustness of its tokenomics, but also for its growing embrace across the board. The token was recently listed on Uniswap, LBank, MEXC, and Raydium, and, according to a recent announcement, is on track to appear on Gate.io on August 31.

The broadening recognition and accessibility of the CHO token is helping to bootstrap its ecosystem and will help prop up its steady growth strides for the rest of the year. CHO is currently trading at a price of $ 1.0529, up 3.85% in the past week.

FTX Token (FTT) – The FTX Growth Determinant

FTT is the native cryptocurrency token of the crypto derivatives trading platform FTX. The FTT is part of one of the most versatile digital currency trading platforms and ecosystems, and this has helped its establishment since 2019 when it was launched.

Playing a prominent role in bailing out distressed cryptocurrency platforms including BlockFi during this crypto winter, and the series of acquisitions it has made thus far this year, FTX is positioned for bigger growth in the coming quarters.

FTT has recorded an almost negligible loss in the past 3 months and coupled with its robust ecosystem, it is one of the more promising tokens around today, changing hands at $27.92 at the time of writing.

The Sandbox (SAND) – Gateway to the P2E World

The Sandbox is a blockchain-based virtual world allowing users to create, build, buy and sell digital assets in the form of a game. By combining the powers of decentralized autonomous organizations (DAO) and non-fungible tokens (NFTs), the Sandbox creates a decentralized platform for a thriving gaming community.

The Sandbox is increasingly becoming the destination of choice for big brands including Bored Ape Yacht Club (BAYC), Moonbirds, and even HSBC to mention a few.

Driven by the growing embrace of its system, the SAND token is amongst the top tokens to watch this autumn, worth $1.07 at the time of writing.

Flying on a Roller Coaster Ride

Analysts are still predicting serious headwinds ahead for the digital currency ecosystem as the market is still very well subject to the macroeconomic policies of Central Banks around the world.

Digital assets, including the ones profiled above, are still susceptible to rise and fall, but their fundamentals and growing utility will position them, and a host of others, as the biggest beneficiaries in the near to long term.

 

 

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