Ben Simpson explains three altcoins he would not invest in: Polygon (Layer 2 on Ethereum), VeChain (Layer 1), and Doge (meme coin). For Polygon he cites a failed attempt to scale product revenue and continued price decline (he sold ~12 months ago and notes it's still down ~80% from ATH). For VeChain he cites long tenure but inability to break out in a competitive layer-one market. For Doge he cites being a meme coin with a large market cap and insufficient risk-reward for investment.
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These are three Altcoins I would not invest in. Number one is Polygon. Polygon is a Layer two chain sitting on top of Ethereum. I actually used to hold Polygon. It's continued to go down since I sold it about 12 months ago, based on its failed attempt to really scale a product to generate revenue back to token holders. Now on Polygon. Polymarket, arguably the biggest crypto company that's made it outside of the crypto ecosystem, is built on Polygon. And yet he's still down close to 80% from all time high and hasn't unfortunately made its way out of that downward spiral. Number two is VeChain. VeChain has been around for a long time. Vechain is a Layer one project. Again, it's just a struggle to really break out of that highly, highly competitive layer one space. VeChain is competing with, you know, Ethereum, Solana, Sui, all these major blockchains. It's been around for a long time and it has just failed to really break out. And the last one is Doge. Now, I know there's a lot of Doge holders. I personally don't invest into Meme Coins. This one for me is already a massive market cap project. If you're going to invest in a Meme coin, the risk reward needs to be there. Not saying it won't go up, it probably will go up in a bull market. However, the risk you need to take to invest in a Meme Coins versus how big it already is for me just isn't there.
