The price action of the flagship asset has been faint of heart over the past couple of months with a generation of consecutive higher lows. Whilst Bitcoin price struggles to hold major support levels, the altcoins especially DOT, SOL, and Matic have seen a handful of gains.
After the exhaustive rally in 2021, the most dominant asset turned out dreary towards the end of the year with nil volatility. Proponents and analysts across the space are currently referring to the Bitcoin price as a stagnant gold price. Hence, traders are looking for those diamonds which are fundamentally agile and cost–efficient that can make them rich in 2022.
Polkadot (DOT) :
DOT prices have generated consecutive higher lows since the start of the new year. With a nice breakout at $26.1 on the 1st of Jan, the altcoin spiked to $30.12 at the press time. One-day chart indicates a potential death cross as 20 days MA is on the verge to surpass 200 days MA. The asset would experience a slight pullback in the short if it happens somewhere around $31.
The macro outlook remains bullish with its recent accomplishments on Parachain auctions. Efinity has won the sixth Polkadot parachain auctions after missing out on the fifth one. Successively, it was the top 3rd developed crypto project on Github in 2021. The year 2022 is expected to bear fruits for all its effort in 2021.
The Polygon ecosystem has charted colossal gains in 2021 and is likely to continue in 2022. With a generation of consecutive higher highs over the past couple of months. MATIC price has recently claimed its ATH at $2.92. The project is trading at $2.48 with a 29.84% surge in trading volume round the clock. The mega year is going to be the gamechanger for the asset as the platform is looking forward to many new upgrades.
Co-founder of the polygon network Mihailo Bjelic was ecstatic over the platform’s accomplishments in 2021. The groundbreaking platform has managed to reach over 100 million wallets along with more than 1 billion transactions in 2022. In addition, the ecosystem has systematically planned to implement its scheduled upgrades for 2022.
After facing a DDoS attack earlier on Tuesday, SOL price lost its momentum plummeting back to local lows of $171.90. However, the platform has quickly resolved the glitch and daily transactions are back to normal. Yet, the price reappears to chug up as RSI is hovering across the bullish territory.
According to the reports, Solana’s Phantom wallet has experienced a record growth along with more than 1.8 million monthly active users in just 9 months. The community’s interest in accelerating at a record phase, hence SOL is likely to continue its momentum in 2022 as well.
Collectively, the Bitcoin price is struggling to find the momentum where the aforementioned altcoins are running at a record-breaking phase for the new milestones. If the flagship continues to remain stagnant then the altcoins DOT, MATIC, and SOL have the greater chances to reach new pinnacles in 2022.