There isn’t much to be excited about where most cryptocurrencies are concerned. All top markets are deep in the red right now, which is not something to look forward to. In the case of Polymath, however, it seems things are headed in a rather unusual direction. Strong gains have materialized and may remain in place for an extended period of time.
Polymath Price Bucks the Overall Trend
It has been very difficult for any cryptocurrency to note anything positive today. That is not entirely abnormal, as Bitcoin is – once again – dragging all altcoins with it in fairly quick succession. Polymath is one of the few currencies in the entire top 100 to successfully buck this trend. In fact, it shows some very impressive gains despite the overwhelming bearish market.
Over the past 24 hours, the Polymath price has gained a surprising 10% in USD value. To offset Bitcoin and Ethereum’s deficits, the currency has gained 13% over BTC and 15% over Ethereum. All of these statistics are incredibly impressive, albeit it remains to be seen how long they can remain in place.
When looking at social media, the only people talk about is the Polymath price. That is not abnormal by any means, yet it shows there hasn’t been any noteworthy technical development to be even remotely excited about. Not like altcoins need proper technology to pop off these days, as most speculators simply want to make money in very quick succession.
— Cryptonite007 (@Shadihaddad007) October 29, 2018
It is also worth noting how today’s trend is an extension of an upward trend which has been in place for some time now. Ever since Poly broke the downtrend, it has risen by over 120% in very quick succession. That is very spectacular, considering how this altcoin has not offered anything remarkable for some time now. Even so, it is a positive trend overall.
— rektcapital (@rektcapital) October 29, 2018
Some people still remain confident Polymath is one of the currencies which are worth paying attention to at this time. CryptoNinja, for example, considers Polymath in the same league as Loom Network and iExec, to name a few. That is quite an interesting list, although it remains to be seen what the future will hold in this regard.
Some of the coins which I believe have solid fundamentals and can shoot through #Coinmarketcap
— CryptoNinja (@CryptoNinja00) October 29, 2018
All of the market statistics regarding Polymath look extremely promising. It has a solid uptrend, the value seems stable above $0.3, and the trading volume continues to grow accordingly. If this trend keeps up, there is no reason why POLY can’t hit $0.4 in the coming days. Sustaining that trend or more than a few hours, is a different matter altogether.