With thousands of cryptocurrencies to choose from, it is hard to know which is best for you or which will perform well in the long term. You have to consider narratives, market shifts, and business development to calculate if the investment will pay off in the end. In this article, some of the most promising cryptocurrencies are discussed.
What are Polygon (MATIC), Avorak (AVRK), and XRP?
Polygon (MATIC) is a decentralized platform that provides developers with the tools they need to build Ethereum-based applications. It was founded in 2017 and has since become one of the most popular Ethereum scaling solutions. Polygon (MATIC) is used to pay transaction fees on the platform and is traded on major exchanges.
Avorak (AVRK) is an AI platform developing a number of machine learning tools. These artificial intelligence systems will allow users to generate various forms of creative content, and advanced trading indicators that learn from win/loss percentages on the trades it makes and will eventually expand into more commercial applications.
XRP is a digital asset that Ripple, a payment network, created. It is used to facilitate money transfers and is one of the most popular cryptocurrencies. XRP is traded on major exchanges and used for payments on the Ripple network.
Polygon (MATIC), Avorak (AVRK), and XRP Price Predictions
Polygon (MATIC) is expected to continue growing in the coming years as more developers adopt the platform. Analysts predict that the price of MATIC will reach $3.20 by the end of 2023 and $4.50 by the end of 2024.
Avorak (AVRK) is new on the scene, but with a launch price of $0.27, this would make a market cap of $10.5 million, which is incredibly low for a new start-up. Analysts expect AVRK to reach around $1.90 by the end of 2023, with a continued upward trend as the project matures and development expands.
XRP has seen continued transaction growth yearly as more users adopt the Ripple network. Despite price action being swayed by overall market trends, XRP has continued a long-term upwards trend. Analysts predict that the price of XRP will reach $1.50 by the end of 2024, considerably higher at around $2.40 if the current SEC case against them is won.
Factors to Consider When Deciding Which Crypto to Buy
When deciding which crypto to buy, there are several factors to consider. These include market capitalization, trading volume, liquidity, and price volatility.
Market capitalization is the total market value of a crypto token. It is calculated by multiplying the total number of tokens in circulation by the current price of the token. The higher the market capitalization, the more liquid the token is, but also the lower the expected returns. Avorak is by far the lower market cap of the three, which would allow for considerable growth. Polygon is half the market cap of XRP, but with considerably more interest overall, especially considering the various partnerships already lined up.
To summarise, Avorak will likely provide by far the greatest opportunity, with a potential for much higher returns. Polygon will likely outperform XRP, but both should be considered a lower return investment from already established blockchain companies.
Want to learn more about Avorak AI?
Website: https://avorak.ai
Whitepaper: https://avorak-labs-and-technology.gitbook.io/avorak-a.i-technical-whitepaper/
