Should I Invest in DeFi Cryptocurrencies Like Polygon (MATIC), Seesaw Protocol (SSW), and Solana (SOL)?
These are the top DeFi cryptocurrencies that are dominating the crypto market
You’ve probably heard of Bitcoin (BTC) and Ethereum (ETH). With a combined market dominance of roughly 60%, the two behemoths dominate the market cap standings. Bitcoin is the industry standard and has a market capitalization that is more than double that of Ethereum. The second-largest cryptocurrency is closing in on BTC, owing to its functionality, which includes supporting the great bulk of DApps (decentralised apps) and the NFT market.
However, there have been certain downsides to this. The Ethereum Network can become congested at times, lowering transaction speeds and increasing gas fees, which are notoriously high. As a result, many investors are looking for alternatives to BTC and ETH. Three cryptocurrencies that could be attractive investments are Solana (SOL), Polygon (MATIC), and Seesaw Protocol (SSW).
Solana (SOL) was introduced in 2017 and has been dubbed an “Ethereum Killer” due to the speed with which its ecosystem has evolved. “Solana is an open network,” a Solana engineer explains, “Anyone can begin constructing on it. “Its capabilities allow it to give DeFi (decentralised finance) solutions.” It can compete with Ethereum by offering faster and less expensive transactions.
SOL‘s future appears to be bright. Customers will soon be able to use Solana Pay to pay on the Solana Network using a stable coin such as USDC or SOL. Another area where SOL is catching up to ETH is NFTs. Solana has the potential to become a top 5 crypto asset by 2022, thanks to its decreased fees and nearly endless growth potential.
Polygon is also addressing the issue of Ethereum congestion. As a layer 2 blockchain, it can help decentralised application (DApp) developers avoid high gas fees. MATIC, its native coin, is used to pay the Polygon Network’s significantly lower fees.
NFTs on the Polygon chain is becoming increasingly popular in recent years. The number of transactions has increased by 7000% since the beginning of 2021, spiking at 8.9 million in June of 2021.
Seesaw Protocol (SSW)
Seesaw Protocol, in contrast to Solana (SOL) and Polygon, offers a more delicate alternative to a congested Ethereum (ETH) Network. It plans to offer cross-chain exchanges between the Binance Smart Chain (BSC) and the Ethereum and Polygon (MATIC) Networks. Holders can utilise SSW to bridge across blockchains and avoid networks that are either overburdened or charge higher costs.
Stage 2 of the Seesaw Protocol presale is almost finished, and if it can duplicate the popularity of Stage 1, SSW will be a must-have. SSW increased by 2000% in the first six weeks of the presale and is now more than 2650% more than its presale launch price. Experts anticipate it will do so again in the time before its launch, implying that it will rise from its current price of $0.14 to around the $0.4-0.45 area.
Enter Presale: https://presale.seesawprotocol.io/register
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