BTC - 2 Cryptocurrencies That Are Down 20% and Ready to Pop
2023-10-25 08:52:00 ET
At a time when Bitcoin (CRYPTO: BTC) is up 107% for the year and pushing the crypto market higher, it's getting harder and harder to find any cryptocurrencies that are down for the year. Just about the only cryptos still in the red for 2023 are silly meme coins such as Dogecoin and Shiba Inu or speculative metaverse coins crashing back to reality.
But I've dug through the crypto rubble to find two intriguing investment prospects. Both of them attracted significant buzz in 2022, but both have failed to deliver on their potential this year. In fact, both were down 20% for the year before the current Bitcoin rally. Here's a closer look at why they're down now and how they could turn things around soon.
Polygon (CRYPTO: MATIC) burst onto the scene in 2022 at just about the same time that Ethereum (CRYPTO: ETH) was attracting attention for The Merge. That makes sense since Polygon is a Layer 2 scaling solution that helps to make the Ethereum blockchain run faster, better, and cheaper. A year ago, Polygon was generally acknowledged as the top Layer 2 scaling solution for Ethereum, and the future looked bright indeed since its growth was directly pegged to the growth of Ethereum.
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2 Cryptocurrencies That Are Down 20% and Ready to Pop