While the bear market is in full swing, investors are looking for high-opportunity assets that can help them make profits using both short and long-term price action. Many users gravitate towards Bitcoin and Ethereum as long-term solid values. However, the fact remains that other cryptocurrencies might outperform them in the next bullish cycle as they gain a larger user base.
Two high-performing assets from the previous cycle could fit the bill here — Cardano (ADA) and Polygon (MATIC). While these have different functionalities, users might be interested in what makes these projects tick and why they could be the next gem.
In this article, we compare ADA vs MATIC and provide technical analysis for their tokens. Moreover, we will add some price predictions to help you understand which provides a better opportunity.
Contents
Cardano Blockchain and Its Unique Features
Cardano is an open-source, PoS project that aims to solve some of the shortcomings of its main competitor — Ethereum. To achieve this, it relies on a novel consensus mechanism called Ouroboros, which provides high efficiency for a fraction of the cost of Ethereum. It also uses a layered blockchain system, where each layer executes a separate network function.
- The settlement layer contains the transactions ledger.
- The computational layer executes smart contracts.
The Cardano team has a long roadmap and has been slowly building up to release a complete product over the years.
ADA Coin Overview
The ADA cryptocurrency is the native token on Cardano and has multiple use cases within its ecosystem, like staking smart contract deployment and gas. It trades at $0.46, with a total supply of 34.9B, and sits comfortably in the top 10 cryptos by market cap.
ADA Price Prediction
Considering the constant development of the network, experts have a positive view of ADA. Digitalcoinprice.com forecasts $1.11 for 2023 and expects it to reach $1.99 by 2025. Priceprediction.net is more conservative, with targets of $0.89 for 2023 and $1.87 for 2025.
Polygon Blockchain and Its Unique Features
Polygon acts as a layer 2 solution for Ethereum and allows users to bridge their ETH to alleviate the computing strain from the main blockchain. Thus, they can benefit from the faster and cheaper transactions paid in MATIC. Furthermore, this means that Polygon synergizes with Ethereum instead of competing with it.
This project has multiple unique features, such as:
- Proof of Stake sidechains
- ZK-rollups, allowing for fast and secure bridging
- Polygon Edge, a framework for creating EVM-compatible blockchains
All these features are combined with upcoming development that should make this layer-2 solution one of the best on the market.
MATIC Coin Overview
The MATIC token is used for gas on the chain, as well as for deploying smart contracts for EVM-compatible dApps. The token currently trades at around $0.78, with a total supply of 10 billion MATIC. This puts it in the top 15 cryptocurrencies by market cap.
MATIC Price Prediction
The Polygon team is working hard toward blockchain interoperability — the next paradigm in this technology. As such, experts around the internet have high hopes for the MATIC token and its price.
Digitalcoinprice.com gives a target of $1.81 for 2023 and up to $3.34 by 2025. For the same timeframe, Priceprediction.net forecasts $1.41 and $2.92, respectively.
Summing It Up
So, which one should you choose? Well, experts’ predictions are quite similar regarding the growth of these cryptocurrencies, providing an average of 4x price increase for both tokens. This being the case, the best approach would be to acquire both of these on Godex.io in the likely event the assets outperform each other at one point.
