3 altcoins to look at this week: Polygon, Frax and Memeinator

• Polygon (MATIC) rebranding to POL might be a bullish catalyst.
• Frax (FXS) is launching its layer-2 blockchain, probably buoying value outlook.
• Memeinator (MMTR) presale has reached stage 15 as meme coin appears to be like to dominate market upon launch.

The previous week noticed cryptocurrencies surge as Bitcoin broke above $48,000. Whereas BTC value has retreated beneath the above degree, traders eager on potential bull momentum in coming months are probably to make use of the dip to purchase extra.

Prime altcoins similar to Ethereum, Solana and XRP are price a take a look at. Nevertheless, just a few tokens might stand out amid key information occasions and developments. Right here’s why Polygon (MATIC) and Frax Finance (FXS) and Memeinator (MMTR) might be two of the tokens to look at in coming weeks.

Polygon (MATIC): Rebrand might be bullish

Polygon’s MATIC is without doubt one of the high altcoins to retreat on Monday as Bitcoin pared positive factors from the weekend. The cryptocurrency was down about 3% because the broader crypto market mirrored US futures forward of this week’s financial knowledge releases.

MATIC nonetheless stays greater than 5% up this previous week and in place to retest the $1 degree. Based on crypto analyst The DeFi Investor, Polygon is without doubt one of the tasks to look at in coming weeks because of the upcoming MATIC to POL rebrand. 

Per the analyst, the rebrand might occur this month and such occasions have “usually [been] bullish if finished proper.”

Frax Finance (FRX): L2 launch is a key milestone

On February 7, 2024, the Frax Finance staff introduced entry to the testnet and mainnet of its modular blockchain Fraxtal. Rapid entry was accessible for choose companions, whereas it’s set to go stay for regular customers in coming days.  

Fraxtal has incentives lined up for customers, together with an airdrop, liquidity rewards, and new FXTL factors. These are earmarked for later this month, with the platform’s companions and developer groups utilizing the interim time to deliver their dApps to the blockchain. Staking of FXS can be open.

FXS value reached highs of $42.80 in January 2022. The present value is 79% down from that peak. If the Frax L2 blockchain public launch provides to general market catalysts for FXS, its prone to be one of many tokens to look at in coming months.

Memeinator (MMTR): The meme coin to problem DOGE?

Memeinator is a brand new crypto token in presale. The MMTR token is a meme coin that would be the utility token of the Memeinator ecosystem.

When it launches, Memeinator’s fundamental purpose can be to ascertain itself as a high meme coin undertaking that challenges and probably overtakes Shiba Inu and Dogecoin. A part of that mission comes with a hostile takeover of all ineffective meme cash that supply nothing to the group.

These subpar tokens are mere copycats which have usually left holders with nugatory luggage. Impressed by the Terminator, the Memeinator has include the Meme Warfare – able to render judgement to weak meme tokens.

The undertaking has already proven its traction with the large presale participation, surge in social media followers and maybe most significantly, the launch of its staking pool and token burn. The goal is to achieve a $1 billion market cap, and which means a probably important surge in post-launch value.

At the moment in stage 15, the Memeinator has raised greater than $4.2 million, with MMTR value rising to $0.022. Particulars on the Memeinator presale web page exhibits the following value degree can be $0.023, and the worth will proceed to rise by stage 20 of the presale.