While Altcoins are on the move, the expectations from these coins have raised bars. Popular analyst bets on Litecoin price, Binance coin price, and Polygon(MATIC) price amongst others to achieve his set targets in near future. Let us understand how and when it will be possible for these coins to achieve their targets.
Litecoin, according to the analyst, is expected to hit the $550 price mark, the coin is hovering around $216.4 price point, and the trading volume for the past 24 hours has gained by 69.43%, at press time.
It has got the potential to achieve its said target, The coin is expected to be updated with the Mimble Wimble Extension Blocks (MWEB). The MWEB is set to be the largest update to LTC. It promises increased fungibility while improving LTC’s scalability, other perks include user security and a bigger and faster network.
The MWEB upgrade has the potential to enhance user experience and LTC’s use case as a mode of payment, which was the initial goal of the network. The update could launch by year-end. If things fall into place, LTC will hit the $550 mark.
Binance coin is another popular coin in the crypto space,with price $495.94 at press time. Predictions of it achieving a 3-digit gain to hit $1k seems achievable, tracing its movements.
From the charts, it is evident that the coin has seen a healthy consolidation, after a bullish run. BNB price has witnessed an ATH of around $686 in the month of May 2021.
However, the coin is now showing signs of recovery, hinting for the next leg up. Consequently, the coin will have to surpass a resistance at $532, and another at $613, to achieve its ATH of $700. Post this ATH, the $1000 mark is achievable.
Polygon could hit the $5 mark, the coin is priced at $1.62 at the time of writing. MATIC offers the best of Ethereum, and Sovereign blockchains. It provides ETH compatibility, scalability, security, sovereignty, interoperability, and modularity amongst others.
Polygon’s website, displays that it supports two major types of Ethereum-compatible blockchain networks, which are stand-alone networks and networks that leverage security as a service.
In the case of security as a service, it can be provided either by Ethereum directly, or by a pool of professional validators. Secured chains offer a high level of security, with the tradeoff of sacrificing a portion of independence and flexibility. While Polygon PoS and zk Rollups are live, Optimistic Rollups, and Validity chains are in the pipeline.
Stand-alone chains are fully in charge of their own security, that is they have their own proof of validators. The implementations of application-specific chains and industry chains are in the pipeline. MATIC offers promising solutions to existing problems, however, a price surge to $5, seems to unfold in the longer run.
Summing up, the Altcoins mentioned are capable of rising the market charts. The question still remains unanswered of when the coins will hit the targets? The targets can be achieved in the bull cycle, provided the situation prevails. However, some coins like Doge despite their fundamental strengths tend to surge because of market sentiments.