When the trading volume of a projectś native asset increases, it usually means one of two things. The first is how more people may take note of the project for speculative reasons. The second is how the project gains momentum and may soon see a spectacular price appreciation. Exciting things may be on the horizon for these five Polygon ventures.
The Graph (GRT)
Thanks to an overall monthly trading volume increase of 196%, The Graph has become more prominent again. It is a substantial volume gain for a project with a $5.1 billion market cap. So far, that doesn’t translate to much price action, although a 1.3% increase for the month is still decent. The Graph’s coin pricing and market data will remain valuable to various projects, teams, and individuals on Polygon and elsewhere alike. Blockchain data remains complex and organizing everything into more bite-sized data sets is crucial.
Although Exeedme has a trading volume increase of 171%, that represents barely $37.7 million in 30 days. Not the most inspiring statistics, although things can change rapidly in the crypto world. Moreover, this rising volume allowed the XED price to go up by over 41.5% this month, indicating there may be more interest in this project all of a sudden. The blockchain-powered tournament platform for gamers of all skill levels on Polygon provides monetization options, proving worthwhile to many users.
Ocean Protocol (OCEAN)
Most DeFi enthusiasts will be familiar with Ocean Protocol, which also runs on the Polygon network. The monthly 136% trading volume increase is a prominent sign for those who want OCEAN to hit a higher value. As the token notes a 48% price gain for the month, one has to wonder how much higher it can go. Interestingly, Ocean Protocol’s market cap remains below $515 million, which seems low for this tokenized service layer and data sharing ecosystem.
It is interesting to see how people approach the concept of stablecoins in the cryptocurrency space. While Tether’s USDT remains the biggest by market cap, interest is shifting to currencies that have nothing to do with fiat currency reserves in a bank account. Frax, a fractional-algorithmic stablecoin on Polygon, is a good example of generating attention differently. Although its price cannot deviate from $1 too much, its monthly trading volume increased by 134%. Moreover, it is now a stablecoin with over $1.13 billion in market cap.
It has been a while since Bytom made any headlines, even though the current remains relevant today. Its monthly price performance of 1.8% is not too exciting, yet BTM has a 106.4% trading volume increase this month. That is another example of a project exploring Polygon and finding new success of sorts. The blockchain protocol lends itself well to financial and digital asset applications and trading.
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