after months of suffering the polygon metic token or p is finally turning around does it make sense to buy now since we're still low in the price or is this a fake out let's have a look at some data most people aren't considering let's look at relative variations and let's look at onchain data because this is what this channel is all about we try to get an objective picture we don't try to Hype up tokens and we don't try to be overly bearish we try to figure out what objectively makes most sense so the meic token or the P token which are price coupled they're currently at 60 we went up 3% today 8% this week and we almost doubled this month what's going on now this is not the first video on metic and I want to share my YouTube statistics on the prior videos because this might give us an Insight of how much retail interest there is in the token so this is the very first video published 78 days ago and that video out performed an average video quite a bit so the average video is here in Gray and that first metic video made roughly four times more views here's the next video published 54 days ago also outperformed a lot another one 48 days ago one more just 18 days ago and here's the recent video it seems to even pick up a bit more now and how does everybody find those videos it's via search so a lot of people are now searching for the metic token this doesn't seem to be external marketing whenever the price is going up this seems to be organic growth but let's look deeper into the data now different blockchains have different use cases Solana for example is mainly used for meme coin trading the base chain is mainly used for AI agent trading and polygon metic is mainly used for def but here's something odd when we look at defi llama and we have a look at What's the total value locked development of each individual chain in the last month then the meic token here at the bottom performed by far the worst it lost capital in the last month 4. 6% while all other chains gained quite massively ethereum's total value locked increased by more than 50% Solana as well base and aval launch also did quite well polygon did not so how is it possible that the price of polygon goes up by 90% while the value on chain stays still now here's a chart you might have never seen before this is the metic token relative to bitcoin so I don't like to look at us dollar charts because the US dollar over time of course inflates the monetary base goes up by roughly 6. 8% per year and so pretty much every asset is going up over time right even gold goes up over time stocks go up over time a lot of that appreciation is simply monetary expansion what I like to look at is altcoin performance relative to bitcoin and the reason is opportunity cost now why do we invest in alt coins in the first place it's in order to get an outperformance over the safest of the assets right there is a lot of correlation so when Bitcoin goes up the altcoins go up as well when Bitcoin goes down the altcoins go down as well so the capital and the investment opportunities they're fighting with one another if we don't get an outperformance over buying and holding Bitcoin then why should we take on more risk we should only accept more risk if we do get more performance and so let's have a look at meic very long-term versus Bitcoin and that's this chart here it starts in April of 2019 and when polygon got initial adoption the rally was phenomenal an outperformance versus Bitcoin of more than 6,000 per.
unfortunately since February of last year so in a bit under 2 years metic underperformed Bitcoin by 93% and what we recently see is simply a little blip in that long-term underperformance we do see now a potential turnaround but it still takes a lot of that additional performance to make up for all the long-term suffering now why did metic or the P token underperform that much recently the answer is over here metic did a migration to the P token and the P token surprisingly enough is an inflationary token again so there's more and more Supply hitting the market over time when there was no migration yet when it was still all meic tokens people thought that there is no more Supply expansion with the migration we suddenly got new Supply out of the blue and that caught a lot of of people off guard but what about the current valuation right since we already went down that much in the price is maybe the current market cap Justified or in other words is there still upside potential so we've got the meic token which has a market cap of 1. 4 billion and we've got the P token which has a market cap of 5 billion so in total a market cap of 6. 4 billion does that valuation make sense now recently we see quite a bit of bullishness in crypto as a whole and so the defi sector expanded a lot as well it's not yet at the old Heights of 2021 during the defi summer but we are in total across all chains recovering pretty well unfortunately we do not see that kind of recovery for polygon metic the total value locked here is pretty much stagnant 82% of all metic tokens have already been migrated to the new p and so everybody is now wondering what's the next story that could potentially push up the magic token why did it even outperform recently let's say we are hyper optimistic and let's play with the Bold scenario that maic is able to recover all of those relative losses to bitcoin let's say we go back to those old Heights in that case metic would appreciate versus Bitcoin by 866 per.
so we are currently at 6. 4 billion valuation we've got an appreciation of 866 so a 9. 66 x that would bring us to a valuation of 62 billion roughly what's currently at 62 billion Doge for example is close to that metic would beat kadano metic would be three times the size of aex and it would be roughly half the size of Solana again we're looking here at relative variations right when Bitcoin doubles of course all of those variations double as well we're now talking about outperformance so a 9x would bring us at half the size of Solana polygon matic's trading volume in the last 24 hours was 181 million in 9.
66 X would equate to 1. 74 million or 1. 7 billion Solana currently has a trading volume of 4.
4 billion though and so we said that this multiplier would bring us at roughly half the size of Solana so when we now multiply this again by two we get to 3. 5 billion this is pretty close to where Solana is currently at yes with this comparison the overvaluation of polygon would still be roughly 25% but that could be justified given that there is this asymmetric bet effect right whenever there's more upside potential crypto tends to Value those tokens higher now here's the thing recently the altcoins are having a very nice run what we've got over here is the others dominance so how much of all of crypto is currently in the altcoins that are not in the top 10 and within a month this went up by roughly 25% a lot of money from traditional Finance is finally flowing into crypto again the stable coin market cap tends to rise it's even accelerating recently and that's happening since the beginning beginning of October of last year what we see over here that's the teral Luna collapse this is the anchor protocol going bus this is when us deped it started the bare Market where also FTX imploded and then we saw the turn around at the beginning of October of last year and now we really see money coming in all of crypto is going up this is the bull run the issue is that especially for the people that just recently start out most people tend to buy the things that just recently went up most people simply buy the things where currently a lot of attention is but the art in crypto I believe is to buy the things before everybody looks at it because once especially the very risky tokens they are already large then we mainly see profit taking for example here this is the largest meme coins in the pump. fun ecosystem so that's the Launchpad of meme coins on Solana and just have a look at this right this is the performance in the last 7 days most of those tokens went down it's about buying tokens before they become large for example over here this is the goat token it's currently at 70 cents and I tried to be early on this channel right I published a video when it was still at 24 cents and so this is what this channel is all about right it's trying to identify tokens that have positive momentum a lot of organic growth but at the same time that still have the 2 3 4 5x potential and so if you want to be early next time feel free to subscribe over here I publish videos regularly now how do I find tokens like go early why am I so confident that tokens like this can go higher the answer is wallet tracking so the blockchain is 100% transparent and we can have a look at what are other people doing for example over here right this is a signal today we see how influencer crypto gains bought the agent token for 0.
035 that was over here afterwards the price went up by 120% then of course subsequently it still went down it's still up since the purchase but that's how the game works right you want to buy tokens that currently have moment mum you want to take profit very early and you want to buy the things that other influencers buy you want to buy the things that insiders are buying you want to buy the things that other top Traders are buying now here's that influencer that crypto gain influencer he's currently got more than 130,000 subscribers he's reaching the 140k and through onchain analytics we found a lot of his wallets we've got 55 of his wallets that we are tracking where we get alerts whenever he buys or sells something and so I just had a look at his recent video this AI agent crypto will 100% make people Millions that's the strawberry token that's published just 19 hours ago when the price was at 26 Cents and we got our alert that crypto gains bought the token for 17 cents and so subsequently the price went up by 215% but surprise surprise once the video hits YouTube it's already too late we did see quite a correction subsequently so have a look at this right this is actually 17 hours ago ago right this is the top at 11:00 p. m. now it's 4:00 p.
m. and this video was published 19 hours ago but that doesn't really match with the price so the video was published somewhere when the price was already here so something happened between recording of the price and Publishing of the video on YouTube and so here's potentially what happened right it's just a guess but probably crypto gains bought the token he found it very interesting for whatever reason he then potentially talked about this in his premium Community then some of his people might find the token interesting as well right it might have have been a recommendation to buy but simply just a mention potentially in that Community a lot of his followers buy the token and they're pushing up the price further and further and once the YouTube video hits that's then when they tend to sell that's probably why we see the recent Decline and so that just shows how much power there is in wallet tracking with wallet tracking we can be among the very early buyers we can buy directly with the influencer with the Insiders before all of those other people buy in it's really about getting an edge in crypto it's really about learning more than others it's figuring out the data that most people are too lazy to compile or they don't have the capacity to compile now I talked now a lot about the single influencer but it's actually not just crypto gains that we're looking at for example check this out this is Crypt benter they've got 1. 1 million subscribers when they talk about a token in a video and thousands and thousands of people watch that video of course it's gener generates attention of course this pushes up the price and so of course we also have some of their wallets we've got 33 that we are tracking I have a look at this this is Alex Becker 1.
