everything is bullish and of course polygon the P token or the meic token that can be converted one to one is up as well now does it make sense to still buy metic now will metic outperform Bitcoin does it make sense to take on that additional risk versus just buying and holding Bitcoin or does it make sense to potentially buy smaller tokens let's have a look at onchain metrics most people are not considering now this is not the first video on meic on this channel I just published one 3 days ago and that video outperformed the average video by 3. 7 times so clearly there is demand for Matic clearly retail is interested in the token which is a good sign and so crypto clearly is in a new bull market this is Bitcoin over the very long term and since November of 2022 to today Bitcoin appreciated by more than 500% we' finally broken the 100K the long-term chart for metic doesn't look as smooth but that's also because metic hasn't been around for such a long time so this is the US dollar denominated chart and really most of the gains happened at the beginning of 2021 now that was over here Bitcoin during this time didn't really move much but Bitcoin dominance absolutely crushed in other words the importance of Bitcoin as a fraction of all of crypto went down the altcoins went up so it was altcoin season and the Matic token or now P was able to benefit from this a lot and maybe maybe we are currently seeing a beginning of an altcoin rotation again maybe Bitcoin dominance just started to decline and with another altcoin season maybe metic can outperform yet again now here's the long-term chart of metic relative to bitcoin we have looked at this in Prior videos as well and it shows us yet again how important it is to be very quick to jump on altcoin relies altcoins tend to appreciate very very fast and then when things turn around they tend to bleed rather slow slowly during a bare market and now maybe we see the beginning of the next altcoin rotation so that's the bull case right that we see something very similar to the beginning of 2021 now how does the altcoin rotation happen why is there at some point in time a moment where bitcoin's dominance crashes where Bitcoin as a fraction of all of crypto isn't that important anymore where everybody starts buying alls I believe this mainly has to do with upside potential if Bitcoin has a lot of upside potential because it already crashed 70 or 80% and it can easily make 5 6 7 x returns then people just buy Bitcoin because there isn't much risk in Bitcoin right you can just hold it and wait for the next Bull Run for altcoins that's different altcoins have to be traded more actively and altcoins usually get bought when the upside for Bitcoin is limited when people do not believe that Bitcoin can that easily make another 5x so How likely is it that Bitcoin from here will make another 5x that it will be at 500k say in one or two years when the market as a whole thinks that the upside for Bitcoin is limited that's then when people buy the alts and that's then where relies like this happen right where Matic in this case outperform Bitcoin by more than 10,000% in a matter of a few months now here's another relative valuation chart this is meic relative to ethereum it makes sense to compare those two because meic is a layer two it's a scaling Solution on top of ethereum here the potential upside relative to Eve is 400% if this top over here prevails now 2021 was clearly the year of decentralized Finance it was the defi summer and so the total value locked on all chains across all defi protocols ballooned to 180 billion then came the massive crash where also FTX imploded Etc and then our turnaround in September October of last year and now we're very close again to those old Heights and since polygon is a very defi driven platform maybe it can benefit but is that actually true let's have a look check out the change in total value locked for the different blockchains in the last month that's this column over here and all of this is green except one and that is polygon polygon lost total value locked or in other words Capital went out of the chain now what happened here's the total value lock chart for polygon over time it looks very different to the total value lock chart across all chains so it seems like polygon isn't really able to take advantage of this R let's have a look at the individual applications on the chain and here's the resolution to our question we've seen a 78% drop in total value locked on poly Market this is how that looks like it went all the way up to 500 million and now it's down to 100 what is poly Market poly Market is a prediction Market or a betting house so you can bet money on various outcomes and that if ation attracted a lot of capital for the BET who wins the presidential election right Trump versus Harris and since that election is now over all of the capital is out of the platform again and that is why we have seen net outflows out of polygon in the last month now there are actually multiple chains around the polygon ecosystem there is the main polygon metic chain but there's also the polygon ZK evm chain so the zero knowledge rollup chain and here's the total value locked of that chain it doesn't look as bad as the main chain but let's compare the usage this is the usage of the main chain it saw trading volume of 322 million in the last 24 hours and here is the ZK evm chain only trading volume of 4. 5 million it's almost a dead chain and so while the total value locked of ZK evm isn't too bad the number of new users the number of new depositors is dwindling it hovers now at around 50 or so per day it's a former shadow of itself when it was hovering around 1,000 to 2,000 here are the number of unique depositors over time right cumulatively initially a lot of adoption but now flattening out what about the nft market polygon also had quite a bit of a lead in that market here are the numbers so that's just for the last month and this is measured in ethereum not even one ethereum per day that gets transacted on polygon in terms of NFS here the number of daily active Traders on the left and the number of weekly active Traders on the right yes it's not zero but definitely it shrunk a lot so now there's only 900 unique wallets involved in any form or capacity in polygon nfts now things are hyper bullish right now right Bitcoin continues to make one high after the next and pretty much every altcoin is appreciating right now it almost feels like because there's so much correlation within crypto that it doesn't really matter what we buy what we see over here is the others dominance so how much of all of crypto is in the altcoins that's not in the top 10 in terms of market cap and that's growing very nicely very steadily in the last days and I see this in the statistics of this crypto Channel as well nobody was interested in crypto just a few weeks ago and suddenly we're spiking up in terms of attention again and so yes it's true that everything tends to go up but there are still ways to outperform so for example over here this is the mem coin market and in the last 7 Days AI 16z more than doubled yes bit coin went up as well but it definitely did not double now it's at a price of 43 but the question is how can we get into a token like AI 16z before it doubles how can we find out about tokens like this early and what I personally like to do is I like to follow other influencers I like to follow insiders I like to follow people that tend to move the markets especially for those very small tokens so have a look at this Kyle chesse bought ai6 Z on the Jupiter exchange on Solana for 1.
8 and he didn't just buy once he bought several times since then the price went up by more than 2,000% now who is Kyle chesse he's an influencer that tends to buy tokens very early where of course not every single token makes these kinds of returns but it's a bit like VC investing right you make 10 bets you hope for two of those bets to make returns like this and you're okay when the other eight out of those 10 bets don't work out as well so here we go here is his channel he's got 138,000 subscribers and we track 12 of his wallets so this is how wallet tracking works right you use onchain analytics to find out who owns what wallet and once you've got the wallet you put this in a Tracker and then whenever this wallet makes a transaction whenever this wallet buys or sells we get an automatic notification we are not just tracking KY chesse we also track Crypt banter for example they've got 1. 1 million subscribers when they talk about a token especially a small cap Tok token that token definitely goes up because there's a lot of attention on the token right attention equals purchases purchases equal a higher price we've got 33 of Crypt benter wallets and we're also tracking for example Alex Becker he's got 1. 5 million subscribers we've got 12 of his wallets and so really I believe this is the way to beat the crypto Market it's to know more than most it's not just to pick random tokens in a list hope that they will make a 2 3x in the spool run it's actually to be early it's so early that most people don't know about this yet I believe in this strategy so much that I made eight dedicated tutorial videos just on wallet tracking so how can we find influencer wallets how can we track them and how can we then also interpret the signals that we get from the tracking it's all part of the premium membership of this channel the link is down below the bitcoin.
com premium is not just about wallet tracking it's also about back testing it's also about micro indicators it's also about risk mitigation portfolio diversification Etc there's more than 100 tutorial videos in total in premium and so yeah people are very happy feel free to stop this video over here and read this feedback the most important thing is of course once we have those kind of signals that we also get some feedback from the rest of the community right that we discuss when should we buy when should we sell what are the current onchain analytics that's why we've got a dedicated Chats on the individual altcoins as well so feel free to check it out feel free to invest some of the gains to make the portfolio grow even faster there's also a onewe money back guarantee so in case you don't like premium just message me within the first week and I'll refund you 100% you really have zero risk and so does it make sense to buy the meic token now or the P token it depends right all of crypto is currently going up so all US dollar variations are likely going to increase the question is can p outperform the rest is the current valuation of P Fair because even though the current momentum might not be that great maybe polygon metic is already cheap enough to buy it now now let's compare the market cap with other layer tools P has now a market cap of 5. 8 billion the Matic token has a market cap of 1. 3 billion so adding this up it's 7.
1 billion that compares to arbitrum with 4. 5 billion is arbitrum worth only half of polygon roughly let's look at usage numbers again here is polygon with 323 million trading volume in the last 24 hours and do we now see maybe 160 million or so for arbitrum let's check it out the answer is no we see one .
