Bitcoin, the de facto thermometer for crypto industry performance, has climbed 60% since hitting a yearly low in November, 2022. As always, various altcoins have mimicked bitcoin’s upward path, which comes as a surprise to absolutely no one. That said, crypto analysts and industry experts believe 2023 will be the year the metaverse will go mainstream. So, De-Fi projects with strong Web3 and metaverse utilities are expected to outshine all other tokens. Among Polygon (MATIC), MultiversX (EGLD), and TMS Network (TMSN), the crypto that will offer the highest value to metaverse users will perform the best.
TMS Network (TMSN)(TMS) is Aiming For the Man
TMS Network (TMSN) is one of the most promising launches of 2023. It’s a dex solution, albeit with a twist. TMS Network (TMSN) is a multi-asset dex, which will allow users to trade equities, crypto, CFDs, and forex. TMS Network (TMSN) is the first crypto exchange to feature equities and enable crypto users to trade in securities markets too. Highlights of TMS Network (TMSN) are low fees, advanced tools, and a wealth of analytics – both historical and real-time. TMS Network (TMSN) will also give users access to leading-edge tools like trading bots, arbitrage trading signals, social trading, and others.
TMS, the native token of TMS Network (TMSN), gives its users governance rights over the platform’s major decisions. So, users would not be blindsided by unilateral decisions taken by a group of elites, like it usually happens with centralized cryptos like FTX. TMS Network (TMSN) is expected to grow by at least 500% in 2023.
Polygon (MATIC) Shows Signs of Stagnation
Polygon (MATIC) touts itself as “Ethereum on the fast lane.” That’s because Polygon is an Ethereum scaling solution that makes transactions on Polygon faster and cheap. As a layer-2 scaling solution, Polygon transforms Ethereum into a multi-chain ecosystem. Since Ethereum is the most popular crypto platform among dApps developers, Polygon’s future appears to be secure. Polygon also allows a variety of dApps to be built on its platform and enable advanced features.
A highlight of Polygon is that it’s designed to be highly scalable. Ostensibly, Polygon can support an unlimited number of dApps on its blockchain without experiencing significant bottlenecks. Despite its numerous use cases, Polygon’s approach is not unique. Other cryptos offer the same or similar features and have lower transaction fees too. Everything will depend on how Polygon will evolve to meet the challenges of its competition. We expect Polygon’s price to not change meaningfully in 2023.
MultiversX (EGLD) Has Not Found its Footing Yet
MultiversX (EGLD) is a highly scalable and secure blockchain protocol that allows developers to build fast, scalable, and decentralized apps on its platform. MultiversX uses sharding to solve the congestion problem that plagues cryptos as they become popular. Although MultiversX currently has the capacity to perform 15,000 transactions per second, it’s much lower than that of Polygon. However, MultiversX charges an incredibly low transaction fee of $0.001, which makes it one of the most cost-effective platforms.
Since the core promise of MultiversX has not won the platform many favors, the platform has recently launched staking services. This comes at a time when the U.S. SEC is cracking down on staking, and Kraken has already fallen under its axe. The future of MultiversX appears to be uncertain. It’s likely that MultiversX will face more heat this year.
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