Can MATIC, BNB, & TAMA continue to pump?

For some investors, crypto could be an attractive alternative to the pound. But cryptocurrency so far this year has proven that it’s not an inflationary hedge.

Crypto and blockchain enthusiast Jayjit Biswas believes that the crypto market will continue to struggle because of the US Federal Reserve’s aggressive monetary policies to calm inflation and recession fears. Investors will have to wait for cues from global trends before taking informed decisions about their future investments in cryptos. 

In the latest quarter, some cryptocurrencies have achieved significant growth, so how will the next 3 months look for stable coins such as ETH and BNB? What about new ones such as TAMADOGE?  Let’s find out.

TamaDoge – a meme coin with purpose

Tamadoge is the currency at the center of the Tamaverse, allowing you to create, breed, care for and battle your TAMADOGE pets. This is a meme coin with utility. Launched in July 2022, TAMADOGE is a deflationary cryptocurrency whereby users can battle to climb up the leaderboard by gaining Dogepoints.

TamaDoge has made its first appearance on a top-tier crypto exchange OKX.  The official TamaDoge presale was a huge success, as the platform sold all 1 billion tokens months ahead of schedule.

With the current growth trend, it’s the right time to say the following: if you missed the TAMA token presale, you can still get your hands on these tokens by exchanging them for another cryptocurrency. The tokens have already gained over 500%, but since this is the first official listing, their current price is the lowest it will be moving forward. 

So visit OKX and be one of the first users to exchange your tokens for TAMA on their CEX exchange. If you can’t complete the transaction, you can use OKX’s DEX listing as an alternative.

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What’s new with MATIC?

Polygon’s native cryptocurrency, MATIC, has been struggling since the start of 2022. Its value has fallen by over 70% from the all-time high it achieved last year.

In August, it shortly came back to $1 in value but since September it’s been going slightly down. On the other hand, it’s up to $0.8 and still going up. 

The recent OpenSea support and the platform’s latest breakout appear to be fuelling the bull case for the MATIC coin, in line with mainly upbeat predictions from algorithm-based forecasting sites. But there are many factors at play for the future of the coin, from the overall macroeconomic environment to acceptance of the crypto markets and the level of adoption.

Does this mean that the growth trend will continue? There’s no way of knowing that but as long the oscillations are not too extreme, it’s worth investing. 

BNB – A Binance Token

Stability is part and parcel of BNB since it operates on Ethereum Blockchain. The Binance Coin price has tripled in value in the past few months, trading as the hottest asset. People have high hopes for the token, and the Binance Coin (BNB) price has even marked a plunge in the last few hours. The BNB price was corrected to $310.45, and the market capitalization of the Binance Coin is $46,652,511,533.

The recent market-wide price crash also affects Binance Coin, and the upcoming news of alliances and partnerships for Binance will pick up its momentum in the near term. Based on the recent announcements, the launch of the world’s most popular curated NFT marketplaces, and much more, the overall Binance ecosystem marked tremendous growth. This year, BNB will strengthen its NFT ecosystem by integrating with essential collaborations and welcoming more users to the ever-expanding metaverse.

The aforesaid changes might get a kick in the Binance price by bulls to take it to $500 by the end of the next year. Investors may also get the benefit of a discount on their trading using Binance to pay for exchange fees.

ETH – the blockchain king

What is the outlook for the ethereum price following The Merge?  

As of 30 September, CoinCodex was pretty downbeat in its near-term ethereum crypto price prediction, expecting ETH to drop to $1,273.66 by 7 October 2022 and falling further to $1,1216.43 by 30 October.

PricePrediction maintained a highly bullish long-term ethereum forecast, estimating that ETH could average $1,548.69 in 2022, $2,339.64 in 2023 and $5,035.61 in 2025, based on its artificial intelligence-assisted technical analysis. The website’s ethereum price prediction for 2030 suggested the price could soar to $30,465.86.

When looking for an indication of the ethereum price outlook, it’s important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin’s price will be in a few hours, and even harder to give long-term estimates.

ETH still has a strong use case. A lot of new coins are based on its blockchain technology – not to mention that a lot of software companies are taking a shift towards blockchain and decentralization. Given that, now may not be the bad time to buy ETH at discount prices. 

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Final Words – Where should you put your money in?

There’s a lot of options out there. We know that there’s a lot volatility around the crypto market. On the other hand, nothing good comes easy. If you take a look at stock market historical data, after a huge fall – it can only go up. 

Analysts and algorithm-based forecasters can and do get their predictions wrong. If you are considering investing in cryptocurrency tokens, we recommend you conduct your own research. Look at the latest market trends, news, technical and fundamental analysis, and analyst opinions before making any investment or trading decisions.

Keep in mind that past performance is no guarantee of future returns and never invest any money that you cannot afford to lose.