The best altcoins you can buy under $3 | The Market Report

Sam. Foreign.

Hello, friends, and welcome back to another episode of the Market Report here on Cointelegraph. I am your host, Benton, and we are joined again by our resin experts, Jordan Finisith, Marcel Peckman and Sam Borgi. Jordan uses his background in psychology and human behavior to spot the emerging trends in the crypto market. Sam Borgi is a business editor at cointelegraph where he brings a decade of experience in economic analysis and financial market writing. Marcel Peckman applies his 17 years of experience trading derivatives options and futures to the crypto derivatives markets. Fellas, what's going on this week? Bitcoin had a nice little pump. What's up? How we feeling?

Finally, finally out of the woods after three months. But it's good to be back to 47, $48,000. I still have my doubts about the altcoins, if they're gonna sustain this rally or not because seems like even the altcoins themselves are buying bitcoin. So it's good for me, but I don't know about the altcoins markets.

Yeah, I'm happy to see prices moving so high again. I'm getting close to that. I need to take some profits because I don't know, there's a lot of, a lot of things going on in the world that might make this rally go. So we'll see how it goes. But I'm excited as it is right now.

Yeah, let them send it a little bit more before we take some profits, you know. No, I've, I was expecting a counter trend move at some point in the spring given the absolutely brutal three, three, three months that we've had. So right now my bias is still that it's a counter trend move, but we'll see whether it can be sustained up into the 50s. So exciting, but cautiously optimistic right now.

I was gonna say I, I think I'm still kind of in a state of disbelief. We've just got so programmed at seeing red candles. It's been nice to see a change in, in the, the tide, so to speak. So we'll see what happens to play out. I know Marcel is going to be giving us some of his insight on chain metrics. That should give you a better look of what actually is going on. Today. We are going to be talking about the best tokens to buy under $3. So we're going to be giving you our picks. This is not financial advice, so I want to remind our audience today these are the expressed personal opinions of each individual panelist. Make sure you are doing your own research and looking into these projects that we are talking about here today. Super excited to give you the market rundown for this week as well. Some big headlines that we're going to be talking about this week and if you haven't liked and subscribed, go ahead and do so now. We're on Cointelegraph on YouTube 12pm Eastern every Tuesday. We're going to be giving away that one month subscription of markets pro$100 value. So make sure you drop in that Twitter handle in the chat today because we are going to be selecting that winner at the end of the show. I want to thank everybody for tuning in from around the globe. Shout us out. Where are you tuning in from? We appreciate you stopping by today on the Market Report. We're super excited to jump into stuff today because we got some hot picks that could potentially be riding this market wave with the altcoin tides that hopefully follow the bitcoin trends that we've seen over the last couple days. So first things first, let's go ahead and get into our market. Our market recap for this week about what's been happening in the Twitter sphere with some of the biggest headlines. Danilo, take us away. All right, folks, we had CZ meet with the president of El Salvador this week. That's why I thought it was the most interesting headline that I saw this week. What does that mean? Who knows? Marcel's going to be giving us some of the latest insights on Bitcoin in Ethereum trading this week. So I'm going to let him dive into some on chain metrics that he's seeing and what that could be potentially telling us for what you should be looking out for for Bitcoin and Ethereum this week. Danilo, let's hand this over to Marcel to get into his expert segment for this week.

Okay, so what's going on with Ethereum right now? Sure, it pumped 18% of nine past nine days, but should investors be worried about Ethereum right now because it's highly dependent on Bitcoin price as it seems we see Bitcoin pumps on the same day or the next hours Ethereum pumps again. And if Bitcoin somehow goes down 10%, 20%, what's going to happen with Ethereum? So firstly, we need to analyze how Ethereum has been trading in BTC terms. Danilo, can you share my screen please? Because it's important to see how both cryptos are relating themselves. And it seems that Ethereum rallied over the past 10, 15 days in BTC terms, which is true, but it's just back to the 200 day moving average, which is the green line over here. So more important or more relevant than the fact that Ethereum outperformed Bitcoin, it is the fact that we returned to the mean. It's back to the 200 day moving average. So the there was no significant pump of Ethereum priced in Bitcoin. Thank you Danilo. But we have a big question here. Are traders getting excited about Ethereum 2.0 so migrating out of proof of work and to proof of stake? Or is the recent move simply reflecting a better overall move caused by Bitcoin breaking over above $47,000? So to analyze that, I would like to start with the Bitcoin futures premium, also known as the basis, sorry the ITER futures premium, also known as the basis rate. For example, if we trade the June contract Ethereum futures, our money will be held until the liquidation date. So for three months we won't see that money again. So traders, when they sell those Ether futures, they require more money, they demand more money to trade it. And this premium is what we use to measure if traders are bullish or bearish. So a standard premium, a neutral premium, would be between 5 and 10% annualized because that's the same rate that this trader is going to get if you deposit stablecoins on an exchange or a DEFI application. Danilo, can I share my screen please? So if the Ethereum futures is trading, the premium is below 5% means those traders are bearish, which was the case during February. As you can see here. Earlier March, the ether premium was below 5% indicating bearishness. But on March 25th this all changed. The futures premium went to 5% now at 6%. So it's still nowhere near bullishness, the 5 to 10% range that I mentioned. But at least it's not bearish anymore. So thank you, Danilo.

So wait, so Marcel. Okay, go ahead.

Hello. Shoot.

I mean, so you're saying that eth traders remain neutral to bearish according to these like derivatives information?

Yeah, Benton, but that's just one metric. And Remember, Ethereum is down 9% year to date and it's still 28% below its all time high. So yeah, there's one metric pointing to some bearishness on Ethereum, but that's not the Holy Grail. We need to double check with other instruments. For instance, we can check the margin lending ratio. So unlike futures markets, one must either buy, borrow, tether, a stablecoin so you can use that money to buy Ethereum, or You can do the opposite. You can borrow Ethereum and short it on the market. So it's different from the futures market. It's called margin lending markets. So, Danilo, can you share my screen please? Whenever those traders want to bet on the price upside, they're going to borrow, tether Stablecoin and use the money to buy Ethereum. So this ratio will go up. As you can see, it reached 12, 12.14 on mid March. But over the past 14 days the ratio has gone down to 3.2. So yes, traders are still demanding more stablecoins to buy Ethereum, but not as they were bullish two weeks ago. So we have a second metric showing us that those professional traders trading futures trading margins are not so excited about the price recovery.

Do you think a lot of that hype was driven by like the whole merge thing on Clin or killing or whatever it is, and people thinking that, oh, Ethereum is going to merge and it's going to solve all the problems?

Yes and no. So it's a good question. We have part of the investors believing that Ethereum 2.0, so the merge will solve every problem. But we know that that's not going to happen, at least not in a month, because those smart contracts and applications still need to migrate from the old chain to the new one, the beacon chain, and use those sharding processes. So it's not something that's going to happen instantly. It's going to take a couple of years. But yeah, some of the excitement could have been simply because of the merge expectation, which won't happen over the next two or three months.

And who's to say it's going to go ahead as planned? You know, we've got so many delays already. Right. It's interesting how that narrative has played out. People are getting uber bullish on Ethereum and they're calling it deflationary. I wouldn't go that far. You know, being able to change a protocol at whim doesn't necessarily lead to calling it deflationary in the same sense that Bitcoin is deflationary.

Right.

So, you know, deflationary is about a monetary policy. It's a form of policy that is implemented. So I'm just kind of, you know, telling people just to kind of, you know, hold off on the, on the over exuberance. But overall, you know, I think Ethereum does have a lot of, a lot of use cases and people are really excited about that. So we'll see how it goes.

Yes, you have a great point here. So Just one second. This is important for us to stress out. Being deflationary is not what makes a hard currency a hard asset. If Bitcoin changed its monetary policy every three months, there's a group of elderly of people with 80 years old or over gathering every couple of months and deciding, well, the basic interest rate on Bitcoin is going to be 2% now, now we're going to increase 50 basis points or whatever. That's not what people want. People want a system that's been determined by, determined by mathematics, which cannot be changed by a person or a group. So Ethereum over the past five years changed their monetary policy five or more times. So that's not what people are looking. So being deflationary is good? Yes, but that's not what's going to solve all of Ethereum problems. Sorry, Benton.

Yeah.

So I did have a question regarding like the margin lending ratio. What is, is there like a price level that would get people excited, especially in those like margin lending areas, or does one dictate the other? Like how do those kind of two go, like hand in hand regarding like eth. Price versus like margin lending ratio.

Okay, so Benton, remember that margin lending markets are not designed for retail traders, more experienced market makers and whales are the ones that use it the most and they use it to leverage. Not after Ethereum has rallied from $2.5K to $4000 than go crazy and leverage and margin buy that. They do the exactly opposite. They wait for moments when the market goes wild and there's a 20% or 30% decrease in a week. And they use leverage to buy Ethereum when the price is going down. So it's a different trend from the futures trading or the, especially the perpetual contract which is mostly used by retail traders. So I don't think there's a specific price they're going to get in, but if the market collapses 20, 30% without a reason, you can sure they're going to use leverage to buy it.

Makes sense. Jordan or Sam, do you guys have any other questions for Marcel today?

No, I got what I wanted out of the way. I'm just glad that we talk about monetary policy and we talk about. Also just when I say monetary policy, I know Bitcoin doesn't have a quote unquote monetary policy. It's, it's, it's just a general phrase to refer to the issuance of, of new tokens and that process. So just for clarity everyone, I don't want my Twitter feed to be flooded with Bitcoin doesn't have monetary policy. I know it doesn't. I'm using the term very, very broadly.

Sam's been notoriously getting hammered in the comments. So don't, please, please folks, stay away. Thank you Marcel for sharing. Your insights.

Would just be like don't, don't, don't get too like, I know what's going to happen in the future because there's so many things going on in the world right now. Nobody knows what's going to happen in the next few months with this market or the world stage. So everything we're taking, you know, this is just our opinions, a good insight into the market. But like nobody knows what's going to happen. So it's all like a wait and see game for all of us kind of thing.

Exactly. And, and so I want to shout out to the audience real quick. I see people tuning in from the Middle East, Hungary, America, all over the globe. We appreciate you all tuning in today. Don't forget to drop your Twitter handle in the chat to win that one month subscription of Markets Pro. We're going to be selecting that winner at the end of the show. But next up we have Sam. He's going to give us his two picks for this week. He's going to talk to us a little about 1 inch and engine token and why you should be putting these two tokens on your radar for one of best altcoins to get into under $3. So Sam, why don't you go ahead and take us away. Danilo, run it back.

Wonderful. So this is a really exciting topic for me. Obviously when we talk about coins under $3, that's a vast selection base. I wanted to kind of stay away from the micro caps and just focus on some of the blue chips that could be had from the $3. So my choices this week were 1 inch and Enjin coin and I'll begin with 1 inch and what makes it so compelling. So if you're not familiar with the project, one inch is a Dex aggregator, a decentralized exchange aggregator and automated market maker that's improving defi orders and executions. So the Dex aspect is an algorithm that searches over 150 liquidity sources to find the best paths for your orders. It searches across Ethereum, Binance, smart chain, Polygon, Avalanche, arbitum, etc to find the best path for execution. It makes the most efficient trade possible based on the price, liquidity, slippage, et cetera. So that's the dex aspect of 1 inch and what makes it so compelling? The automated market maker aspect. It operates very much like Uniswap, but only with improved efficiency. Also, 1inch recently launched a P2P order functionality that enables swaps between individuals, including for NFTs and the 1inch token. It's interesting because it's not necessarily a utility token, it's more of a governance token. It's used to vote on protocol parameters under a DAO model, so the value comes from voting rights for the 1 inch token. The more users that want to influence the network's governance, the more they will hold one Inch. And obviously, if you're an investor, you can seek access to 1 inch and hold it through various exchanges if you want to bet on the growth of the ecosystem and adoption. So that for me is one Inch. And what makes that project so compelling? The second project that I went with is one that I've been following for a long time now, it's Enjin Coin Engine. You can consider it to be the plumbing of the Metaverse and the gaming sector within blockchain. It helps projects get off the ground without requiring any technical knowledge of how blockchain technology works. You can monetize the blockchain, gamify the blockchain without any of the technical requirements. The primary focus through its platform as a service model is focused on the gaming sector, helping projects tokenize assets, digital assets and other virtual goods, including NFTs. Enjin also has a massive community. The community right now in terms of users on its boards on its forum, has over 21 million. The Enjin network itself is a social gaming platform that allows users to create websites and clans. So these features essentially make Enjin's native token backed by virtual assets. It's a store of value backed by digital assets or virtual assets. So for me, what also makes Enjin so compelling is that it recently launched $100 million growth fund for the Metaverse ecosystem. So you can see how it's expanding beyond just gamefi and into the Metaverse. And obviously those two sectors interact quite a bit. We know that blockchain gaming is the next big thing, so if you're betting on major themes in blockchain, I think that gaming is one of them. NFT games generated 3.2 billion in Q3 of 2021 and crypto wall is dedicated to the gaming ecosystem soared from 29000 at the start of 2021 all the way to 754,000 in Q3. So decent tokenomics and really promising project in terms of future potential. So Enjin and 1 inch are my choices this week.

Very good, Marcel. I see you Have a question. Do you want to jump in here first?

No, no. First I want to clarify. He said that the project had 21 million users on the forum or whatever. Is that it? Is that a number?

That's the number on the official forum, yeah. Seems high.

Okay, so just one thing to. I want to firstly express that I love the DAX aggregator idea and I think that 1 inch has state of the art technology. It works, it has code, it serves a function. I love 1 inch but I do have a problem with government tokens. So if there's no direct dividend, there's no payout for the holder. What's the value here? What's the value proposition of a governance token?

Yeah, I think governance tokens are obviously intended for those who use the protocol. I know that for Enjin what they can do is you can provide liquidity and in exchange for that you actually earn rewards in the 1 inch token. But obviously as a governance token it does have a different, a different scope than your general utility token. So one way to earn reward is through that liquidity process. But and also if you're an investor and you want access and you want to have exposure to the potential for the protocol, you can hold the token outright as an investor. But yeah, that's one limitation in terms of the fact that it's geared towards the governance side, which is. Might not appeal to a lot of users.

Right. Yeah, I like, I like the picks. I think Engines is definitely a solid pick in the game. Again, one Inch. I actually, I held it at one point. I actually sold my one inch because it was just kind of floundering in just ever since the whole defi like blow off early last year. It's kind of like what is really drawing people to hold these exchange tokens or the DEX tokens. Like I, I just, I haven't really seen the motivation there. Especially I think 1 inch actually switched a little bit to closed source because they're tired of having people just copy their code and implementing the same things that they've worked on. So I don't know what can help any of these Dexes really stand out from the others, attract a whole bunch of people and bring in fees for their communities because otherwise I don't see the whole like the real benefit of holding a lot of these exchange tokens.

Yeah, I think the broader D5 ecosystem has really slowed in recent months. I firmly believe that, that the D5 sector in general is going to be ramping up again. And I think having something like one Inch having at least one Exposure to one or two really high profile decks aggregators is potentially a good long term play. I still consider it to be fairly undervalued. So if you're looking for the biggest bang for your buck, one inch might not be that right now, but I think it's doing a lot of the work behind the scenes and I've liked what I've seen in terms of the, the, the, the growth in terms of the chains that are supported, the liquidity pools, etc. For me it's, it seems like a solid pick if you're expecting, you know, the overall defi sector to really gain traction again.

So Sam, I guess my one question is, you know the Dex aggregator space in spite of inside of like the defi space has seemed to kind of rapidly expand over the last year. So you have, you know, the sushi swaps, you have DYDX, Kyber, etc. Etc. What do you feel like really separates 1 inch from a lot of these other Dex aggregators?

For me I, the, the, the expansion of the liquidity sources, if you take a look at the chains that it supports, for me the growth has been consistent over time. I think the community has been consistently growing over time. I think the governance token provides more incentive for, for community members to actually want to participate in the ecosystem. So for me, seeing it grow to over 150 liquidity sources, for example, something that I found to be quite beneficial, the name is also stands out. It has a strong community. So for me, you know, are you betting on one against the other or do you expect all of them to all the actually the blue chips to rise during the next wave of defi? I think that's probably going to be the case. Whether something like one inch is the leader of the pack, I'm not quite sure. But for under three bucks I think it's probably one of the, one of the more compelling options.

Fair point. I see some folks chiming on chat asking what about Apecoin? Well folks, I think Apecoin was trading at 14 last time I checked. So that was out of the, the selections this week for under $3. Let's see. Jordan, Marcel, do you guys have any other questions for Sam here? We got 30 seconds left.

I'm just interesting to see like how this whole governance thing does because like even myself, like if you hold over 10 or 20 coins, like trying to keep up with the governance on five of them is a pain. So I understand like I think we're gonna go through this like boom and bust of the dowels because everybody's like we ain't got time for all this. We got life to live. So like I, I do agree that it's a, it's a movement, but maybe One Inch will be one of you.

Have a life to live. Maybe you do, but I'm just, I'm all about crypto, baby. This is the peak. You live your life right.

It just.

Sam just spends his day voting with all his government's tokens. Great picks for this week.

20.9 million users apparently on the Engine forums. So if you go to the message board. So that's pretty, pretty buzzing community, you know.

Good picks for this week, Sam. Gotta say I love 1 inch. Big fan of their product. I just don't know about the token. That's my one thing I like. Engine though. Gaming space seems to be thriving so good picks for this week. Don't forget we're going to be voting at the end of the show so that you can have your voice heard of who you think had the best picks for this week. And if you like their tokens. Appreciate you all tuning in. Don't forget to drop your Twitter handle in the chat today. We're going to be selecting that one month free subscription at the end of the show. Next though, I'm going to go ahead and give you my picks for this week. These two hidden gems you don't want to miss. I'm going to get you these two just shortly. Danilo, we want to go ahead and jump into my segment this week.

No?

All right folks, it's that time of week. I'm giving you my two hidden gems that I feel like you should be researching. So this week my first one is Super Farm. For those who aren't familiar with Super Farm, it's a craft cross chain defi protocol built to facilitate the launching of new NFTs without any kind of programming. So what does this mean? Well, this means projects can deploy a farm with its own rules. So examples include users can create their own NFTs, they can farm coins for NFTs, and they can create ERC20 tokens that bind to NFTs in video game items. Pretty cool for me. So in a nutshell is a comprehensive NFT marketplace. The token of the platform is called Super. This is the Governance token. It can be used for fees, staking and NFT drops. So for me has kind of that trifecta effect. It's not just a governance token. You can also stake it for fees. You can also hold it and earn NFTs by having the Governance token. So for me, that's what makes me optimistic about this. But also behind the scenes here, funding was also led by Bitcoin.com spark digital capital, solidity Ventures and Animoca Brands. I'm looking for for projects that have the Animoca Brands funding behind it because I'm a big believer of this. And for me, Super Farms is meeting the intersection of NFT and gaming and that's a big intersection that I think is going to take off over the next year. So for me, if you're looking for something to get in under $3, take a look at my next pick for this week, the hidden gem of all gems, Nitro Network Trading under the ticker NCASH. What is Nitro Network? It is a layer 0 for the decentralized Internet. For those familiar with the Helium project, they are trying to accomplish the same thing, but going about it very differently. One of the biggest challenges with Helium is that their model is diluting the user's rewards. So if you're in one of those hexagons creating the network, there could be 20 different users. Also with their miners with Nitro Network, they're trying to create that decentralized infrastructure, but they're going to be optimizing the network so that the end users received a much higher reward rate. And so how are they going to accomplish that? They're going to be issuing out NFTs where you can hold these, which represent the form of an actual miner and earn crypto mining rewards. So as I mentioned earlier, I'm a big fan of NFTs gaming and if you can hold an NFT and earn you crypto mining rewards, that for me offers potential upside. So for me, this is a project that just moved from Ethereum over to the Avax chain. I'm a huge fan of anything on Avax right now. So for those looking for a hidden gem with tons of upside, I might recommend you take a look at NCASH and see what's under the hood. Okay, cheers fellas.

I can start with a question if you're free to answer.

Well, fire away.

First, I need to say that I'm not familiar with superfarm, but if there's a need for creating a new marketplace of NFT or whatever, I don't think it's going to grow because apart from OpenSea and Magic Addon, the other platforms have 95% less users than OpenSea and Magic Edden. So how do you think that Superfarm can achieve that, needing to create a new marketplace?

Yeah, that's a great question. And I agree 100%. The issue I think right now in the NFT space is that we've seen sales drop by like 80%. For me, I think when it comes to the marketplace sector, what's really going to bring, I think value for end users is that intersection of gaming and in nft. So the more that I see a company trying to integrate with the gaming space and align themselves with that area as opposed to just kind of being an all one stop shop place, that's where I think they can start to specialize. Now it's going to take a shit ton of marketing, it's going to take a shit ton of building and community building. But I think that superfarm could get to that point in the next year. And so that's why I was looking at this particular token under $3 for more upside potential in the long run than anything kind of short term.

Yeah, similar. Marcel, I kind of had that same thought like how's. How are any of these NFT marketplaces really going to stand out from the other the crowd that's really starting to expand rapidly. We'll see how that goes on. Well, maybe something since it was backed by Animoca, maybe Animoca in the future will put all of its NFTs on Super Farm. That would be something that might pull because Animoca is a pretty big brand as far as in cash go. I like the the concept. I've liked Helium for a while, but within Cash and they pivoted to this NFT miner thing. I don't see how that's like creating an actual node out there that is supporting the network around the place. It sounds like it's more like a cloud, like cloud mining things from the last cycle or something. Like is it just a fad or how is it actually help? How are you actually helping create a decentralized network when you're just holding an NFT that's earning the rewards versus having a miner that's in your location, maybe covering, providing coverage right there.

So the way that they're going about it is they are deploying their network in like 1km radiuses so you can actually apply to become a host of a physical device and they'll send you out that device. And if you're in the most optimized spot, you will actually get sent a free miner that will also earn Rewards which is 20% of the total pool. Now if you own one of the NFTs, what essentially it is is a representation of your certificate to a particular miner. So those are going to issued out 80% of the reward structure. So the NFTs are folding into part of the network infrastructure. It's not actually establishing the network itself. There's still going to be like physical devices that are going to be creating the actual network. Does that kind of make sense?

Yeah, it's just those are going to be run by Ncash or so the.

Actual, the actual devices will not be. Those are going to be. It's so it's like an opt in kind of network where users can say hey, I want to apply for the network to host the device. And if you're in an optimal place where there's no other miners in your 1km area, then you can get sent a device to actually help set up the network. So you're essentially like leasing the physical device from nitro network.

It's interesting how you talk about nitrogen maybe overcoming some of the challenges of, of helium. Can, can you explain again some of those challenges and, and how nitro plants overcome it? Because I, for me, helium is one of those interesting projects that got a lot of attention from a lot of different people. Despite, you know, you might not see it on top line headlines, but through word of mouth I knew so many people who are participating in the whole helium thing. So maybe just say a few words more about how NCASH wants to overcome some of those challenges. It might be interesting.

Yeah. So when it came to helium, one of the biggest issues, I own a helium miner myself, one of the biggest issues is that on the grid you'll see how many other miners are in your little grid area. I think with, with helium it's like, it's like less than a mile. And so sometimes there's, there's grids with 20 different miners all within your radius. So what happens is that dilutes your reward pool. So if there's five miners you can actually earn more rewards because there's less people pulling from the rewards pool. But if there's 20, then that decreases your structure. So like when it comes to nitro network, they're going to be setting up the network themselves by like optimizing where the placement is of each device and so that they're optimizing the network. Now what also happens is like you have double coverage, triple coverage, quadruple coverage, whatever it is, where you may actually need to, to spread out the network in a more wide area and condensing it in, in like a smaller area, if that makes sense.

Very cool.

All right, so those were my two picks for this week. Don't Forget folks like and subscribe Cointelegraph here. We're on YouTube every Tuesday, bringing to you live the market report. Also, if you haven't dropped your handle in chat, go ahead and do so now. I'm going to take a quick look through the comments. I see some folks got Ally talking about Apoin today. We appreciate everyone that's been tuning in from around the globe. I want to get to Jordan's segment today because he's got two exciting picks for you guys that you're going to want to take a look at. So Danilo, why don't we jump into Jordan's top picks for this week.

All right, so I picked Matic and Ronin this week and the reason I picked these two is because there's been a lot of hype around the merge. We've talked about it at the beginning of the show with Ethereum merging it between the proof of work and proof of stake and all that stuff and everybody's all hyped up. Yeah, it's gonna. But in the background it was like, but it's not going to do anything with fees and that's been my biggest problem with the Ethereum network all year. And a lot of people's problems, especially people that live in other parts of the world that don't have as much money I guess, and still spending $5, $10 on any transaction ain't good. So I chose Matic as one of the most used layer 2 networks on Ethereum. I think it's got a lot of potential for growth in the future just because Ethereum is going to continue growing as the merge happens and then people are going to realize like, oh crap this, nothing's really changed. How can we have cheaper transactions? And Polygon is has been one of the more adopted layer twos. Some popular games like Avagochi and stuff like that. A newer game I believe is Crypto Unicorns has launched on Polygon is gaining traction too. So it's got the gaming sector covered. It's also got D5 with $4.17 billion in total value locked currently on Polygon. So it's a growing ecosystem and one of the things I really like, and I've talked about it is not, not too many people pick up on it or agree necessarily, but aren't people aren't going to want to necessarily use their Ethereum to make transactions in the future. I don't like doing transactions on Bitcoin because it takes away from my Bitcoin stack. So if you're transacting on Ethereum. I like the fact that you can use Maddox and pay with Matic tokens. So you can hold your Ethereum, you can stick it, you can do those other things while paying in in the Matic at the same time. You can stake Matic tokens already and earn a nice yield. So that's one of the things I really like about Matic overall. It's one of my favorite ecosystems in general. The second one I just chose might not been the best time to cheese it just because there's like, even though there was a hack on the 23rd, they just found it out now and like $620 million was just siphoned off of the Ronin bridge. But it's Ronin, it's another layer two. It's a gaming toy. It's specifically was kind of designed originally for Axio Infinity. One of the most popular play turn games especially of 2021 just kind of blew off the top in the whole gaming ecosystem. Ronin is the side chain that it operates on. Again one of the most popular games in the ecosystem. Third party developers are soon going to be able to develop and launch on top of the Ronin network. So that will bring a whole new host of play to earn games and other things to the ecosystem. I think people, as people kind of wear thin on Axio Infinity or want something new, they'll be able to to jump over to one of these other new program or platforms on the same network and experience kind of the same feed structure and stuff like that. You can pay fees with Ronin. You can also stake or stick your Ronin to delegators unless you want to actually be a delegator or verifier or you can stick and earn rewards just based on the network fees and stuff by being a delegator. And as, as the network grows and new games come on to that I think that'll really benefit Ron Holders. And currently there's three. Well I had it at 3.6 billion in value locked on the Ronan Bridge, but Maybe that's only 3 billion now because of the 6.6 is gone. But okay, yeah, the price stove buy the dip, right? It's a good opportunity to buy a dip if you have a long term belief in this project, which I do.

Spin Zone.

Spirit. We're PR right now. I just found out about the hack today. I'm like damn it. I knew I should have chose something different.

Marcel, Sam, do you guys want to jump in here with any questions for Jordan?

So clearly Jordan has only 50% less odds of winning today. But I just want to back his running choice. Running network never ceases to amaze me, and the hack is an example of that. But on the bright side, the network itself catapulted a very stupid and lame Axie Infinity. If you haven't played, don't. It's senseless. The game doesn't make sense. For me, it's like Pokemon from 20 years ago and whatever. But still, Ronin got axie up to 2 million active players, and that's a miracle. So. But my question is, Jordan, why aren't other games using or were using running if it works for Axie?

I think a lot of games have just been developing along the way on their own network. Some have been doing it on Polygon, some on Avalanche and stuff, and we're still kind of early in the play during game. I think over time it might settle out. And I said, like, they're kind of opening it up to have new games being launched on one. And I think what you'll see will come in the future. A lot of new games being launched on the network, and some of those 2 million Axio Infinity users will kind of migrate to these new games. That's kind of how I. I'm thinking it might play out. Am I right? I don't know. We'll see.

I mean, speaking of bad press, wasn't it Polygon earlier this month that suffered, like, a network outage? There's some network issues going on with Polygon.

Right now.

Yeah, but we're talking about Polygon, though. We're asking specifically.

No, I was saying, I think I was reading earlier that there might be some network congestion going on right now. It's a blog on. Yeah, it's had some issues just in the last six months with them raising the fees to help with hackers, all stuff and that, to me, this is all part of the. The development game in the crypto space. No, I don't see any. Except for. The only network I haven't seen with a big hack is Algorand. I talked about that last week. But all of the other ones, there's a big hack that comes along and just like, oh, crap, this network's following. And everybody's like, oh, it's doom and gloom. Salana is going to go away forever, and all this stuff. And then six months later, it bounces back. I think Polygon is just working out the kinks. And as far as layers to go, we see Ronin has an issue as a layer two, all these. These technologies. Which is why Vitalik pointed out that he's like, I don't like bridges in layer twos because they're points of failure and he had a point there obviously. So I don't know. We'll see. I, I Polygon is one of my top choices long term pick. Yeah, it's got some issues that it needs to work on and it has been worked on, but I still, I'm still bullish on it long term. Personally.

I think one of the things too with, with Matic is that I like about what they're developing. It is like the zero knowledge proofs I think is a very, very interesting thing that's starting to happen and, and come out as like a new innovation. Matic seems or Polygon I guess I should say seems to be like leading the way in that area. I'm super bullish, dramatic in the long term, but when it comes to like the short term upside. Jordan, like what are you kind of seeing as, as like the utility for Matic as more so like a gas token like I guess, you know, could this thing explode to $6 like or do you kind of think it'll fluctuate under a certain threshold?

Oh no, I'm if I'm being really bullish, I think Matt could go somewhere between six and ten dollars in the next bull run just because I think we're about to see a stupid amount of money flow into cryptos just because of the world stage kind of things going on. Ethereum's gonna have its own pumping. People can be like where can we go on? And then every, all the anything that's in the top 100 is gonna be like. And it's gonna be like we'll see how it all plays out. But I think I'm playing Molly Polygon as like a good solid layer two for Ethereum that has lower fees and we'll kind of take some of the, the steam that Ethereum is building up when people realize that they don't they have to pay high fees on Ethereum. Still my main play is as a layer 2 scaling system for Ethereum.

4.1 billion isn't anything to snub your nose at. Go ahead, Marcel.

Yeah, Jordan. How easy is it for a normal person to use Matic to use the scaling solution?

For example, anybody that's ever used anybody that's ever used Metamask Wallet is the same as that on Ethereum. Again on all these that were something all the EVM compatible chains through Metamask it's getting really simplified now. You can even go on to aave. I think you were mentioning you switch over to the Polygon network. Really simple. You can choose that tab on AAVE and have the list of tokens that they support. So it's really simple and it's faster than Ethereum and I think when you actually kind of go to do that first transaction you see that it's cost like 0.0001 matic you're like yeah, that's nice.

I absolutely love that the gas fees on on Polygon are take it all there. All right, good picks, good picks this week. Everybody I think had solid picks. Going to be a tight race at the end of the show. Make sure you are casting your vote in our poll today to see who had the best picks or which tokens you thought could be the best buys under $3. So folks, just as a reminder, these are the express personal opinions of each individual panelist. Make sure you are doing your own research because this isn't financial advice at the end of the day. So we appreciate everyone for doing their own homework when it comes to a lot of these projects. Go ahead and drop your Twitter handle in chat. That one month subscription Markets Pro is coming at the end of the show to folks that participate and drop their Twitter handle in the chat. Don't forget we're going to be doing that live poll I think after our Markets Pro segment. So next things next, let's get into our Markets Pro. Speaking of Axi Infinity Marcel, we got something nice for you this week. Let's Danil, let's get into our Markets Pro segment.

Foreign.

Did you see those newsquakes this week? Well, if you didn't, Axie Infinity went off the Richter scale. Newsquakes are automated alerts that instantly notify users when market moving events happen. That's what happened this week with Axie Marcel. Did you catch this trade? Last week Axie Infinity joined a select group of assets participating in Binance's Auto Invest program. This platform announced two attractive promotions to celebrate AXS's addition. Look here folks, that's a 25% gainer. The news was well received by the market with the assets price spiking from 59 all the way up to 73 bones. That's 26 hours later too. That's a nice little ride if you were able to get in there on that newsquake. Really, anything that we're seeing with any kind of association from Binance recently on the Newsquakes alerts, that's going to be a good play. Moving on to our Vortex score for this week, we're going to be Paying attention to the ticker nftx. For those who aren't familiar with the Vortex score, it's a score of the comparison between the current market and social conditions of those in the past. So a Vortex score of 80 or above is considered confidently bullish. We're looking here at this chart, folks. That is a 90 on the vortex score. In a bear sideways market, the Vortex score often helps traders identify assets that are most likely to be among the few winners. This past week, NFTX lit up the ultra high Vortex score of 90 on March 24th against the price of $111. So what this suggested is the coin's outlook had been strongly bullish. Assets price kept going throughout the week, reaching $177. Earlier today, if you were able to get into NFTX, you were able to capture a 68% return. Holy smokes. That's the power of the Vortex score and that's the power of Markets Pro. If you're not using Markets Pro, I don't know what to tell you. Don't forget, folks, we're going to be giving away that Markets Pro subscription at the end of the show. $100 value that one month subscription could pay for a trade just like that and you would tenfold your money. So, folks, I think we have our poll going live now. Make sure you are voting, but first, I think there's a little hot topic we need to talk about. So I want to hear from each person today. Why do we think bitcoin's pumping at the moment? And is there any kind of special manipulation going on with the price? I want to hear your thoughts. Marcel, why don't you start us off. What are your thoughts right now? Why do you think bitcoin's pumping?

Well, Benton, I'm going to start with the crazy idea that there's a country, I don't know if it's Russia or whatever, that it's buying bitcoin fraud for themselves and it still hasn't announced.

Sam, what do you think.

That'S interesting. I just think right now with what's going on with Luna and the long term Hodlers, Hodling, I just think that right now there's not enough bitcoin on the market and we're seeing, we probably ended up seeing a squeeze at some point. So I don't think there's any kind of conspiracy going on. I just think there's. The buying pressure has been increasing and you combine that with the fact that the cell pressure among long term Hodlers has been Fairly non existent. So that leads me to believe that that might be responsible for some of the gains that we've seen.

Interesting insights. Jordan, what are your thoughts here?

I kind of see a mix of the both of them and just some greater. Like, okay, a few weeks ago, everybody's like, oh, bitcoin's going to 20,000. Ethereum's gonna go to 750. And I'm like, oh, crap, the market's about to go up. Because whenever this happens, the market goes up. So that kind of started going. Then you get like China and Russia and Saudi Arabia throwing up. Like, we're going to start changing in how we sell our oil. We're going to use Juan and rubles and maybe even some bitcoin. And then like, yeah, the petrodollar is on its way down and people are like, oh, crap, we got to get off this ship. And there might be Russia buying over here and other countries and you got El Salvador and all these things. The whole bullish narrative is just people are starting to see like, oh, crap, this is kind of what cryptocurrencies were made for, right? And so the whole market's starting to see these inflows of people around the world are not going to necessarily want to throw their money into dollars because we can freeze the Russian central bank's dollars. So, like, I don't know, the whole narrative of are you in control of your money? Is really starting to become really apparent to people. And I think cryptocurrencies are benefiting from that. Just my own personal opinion. And. And they're buying billions worth of bitcoin from Luna. Like, yeah, there's not that much supply, folks. Price is going to go up.

I was gonna say God. God bless.

Yeah, God bless him. He's doing. Doing God's work, isn't it?

I mean, but I do feel like that's kind of. That was kind of the catalyst of the most recent narrative was Luna getting in, you know, back up their treasury with bitcoin. I would also agree with Marcel that I think there are nation states starting to allocate some bitcoin, whether that be Russia, whether it be other countries, you know, the sanctions obviously playing a big role in really the conflict in general, you know, between Ukraine and Russia right now. Seems to be playing out. And crypto is a big topic, I think, because how. How are folks, how are nations moving their money across borders if they can't have access to Swift? So that's. That's one of the things I think we're starting to see some of the stars align. 100K here we come. I don't know, we'll see. But I do want to bring up. We have the poll. Live revolt results here, folks. People have just been loving Sam's picks recently. Sam came in with 56% of the votes this week, followed up by Jordan here with 30% and myself with a piddly 50 this week. So thank you all for casting your votes. We appreciate everything that you all have done to watch, to tune in. We got to give away that one month subscription of Markets Pro today. We want to scan the chat. Who do we got for today? Let's see. Adrian, who do you have in the chat that you would like to select for our winner of the one month free subscription to Markets Pro? I'm gonna go ahead and just scroll up here. Did you guys see anyone in particular today? Looks like we have looks rare. Nft, you're going to be our winner today for our one month subscription of Markets Pro. Let's see here. I think that's under the handle jft.jftc jct raynondor. All right, you're a winner. Congratulations. Hope you were able to make some good trades with that one month subscription. Folks, closing thoughts for today's show. Marcel, I will kick it over to you. Final words for today's market report.

I support Terra Luna. Whatever you're doing, I hope that the other altcoins do the same thing. Get their money and just buy bitcoins with that. It's going to be good for everyone because whenever bitcoin price go up, so does the altcoin market. So keep doing it please. Thank you.

Jordan, any closing thoughts for today?

Yeah, bitcoins going up. If bitcoin goes up a lot of times we'll see an altcoin rally if not too long after that. I'm going to encourage people to take profits when you get those chances because bear markets suck when you don't have any money. Right?

Yeah. Let's not get caught with our pants down three times in a row. Right? Let's not do that. Like the stars aligned last April, they did it again in November and you didn't take any profits. And on now it might be happening again. Like let's, let's take some off the table. You know, let's maybe hold in stables and take some yield off that way. But you know, if, if all this Luna stuff is, is, is really happening, maybe just throw a few bucks at Luna just to say thank you to what, what's going on. That's that's all I really have. Not investment advice.

Yeah, I would say yeah. You gotta always, always take your profits. But if you got those diamond hands, you even have to worry about selling, you're just gonna be holding for eternity. Don't Forget to visit store.cointelegraph.com that's where you get the swag. You want that sweat, that swag that Jordan and Sam have, go to store.cointelegraph.com we got the swag for you. That's right. We got a cointelator, we got bitcoin, we got ethereum, you name it, we got the swag in the swag store. Store.cointelegraph.com we appreciate everyone for tuning in today. We love having you here. Hopefully you were able to get some insights on what some of the latest picks should be and that you should be keeping your eye on. Until next time, folks. Over and out.

It.