WAX to MATIC: Time to Swap?

Decentralization has led to the emergence of hundreds of new altcoins, NFTs, and stablecoins with varying use cases. Among these new crypto are WAX and MATIC, two exchangeable tokens that are a must-have for anyone looking to invest in blockchain.

In this article, we highlight the significance of both tokens in the crypto market. We go on a deep dive into the current market analysis to help you decide if it’s the right time to exchange WAX to MATIC or if you are better off hodling your WAX in 2024.

Overview of WAX and MATIC.

Both WAX and MATIC have played a huge role in increasing the adoption of cryptocurrencies over the last five years. MATIC has helped ease the pressure on the main Ethereum chain by hosting others on a parallel blockchain allowing for quick transactions and low gas fees. On the other hand, WAX has revolutionized the online gaming industry by allowing participants to easily create and sell collectibles without the need for intermediaries.

MATIC.

MATIC is the gas token that helps run the Polygon blockchain. Polygon is a layer-2 platform launched on Ethereum in 2017 as Matic Network — rebranded as Polygon in 2021.

Polygon is considered a Swiss army knife for Ethereum’s scaling problems. The network offers EVM compatibility which increases the network’s scalability and transaction speeds. Polygon uses a proof-of-stake (PoS) mechanism that is made possible by MATIC. The token can be used to stake on Polygon and interact with all other popular crypto blockchains that were previously only accessible through the main Ethereum blockchain.

MATIC can be used to help developers build dapps in the Polygon ecosystem. It is also used in the governance of Polygon.

WAX.

Worldwide Asset Exchange (WAX) is a gaming-focused layer-1 blockchain with a native token called WAX. The platform was launched in 2015 by QPSkins as a centralized marketplace for trading weapons and skins from online games. With WAX smart contracts, players can now create virtual goods and sell them securely and transparently without the need for traditional cross-border payment systems.

The project recently made news after signing a deal with Amazon Web Services (AWS) that would allow its developers to deploy nodes through Amazon’s managed blockchain services. This is among the ever-evolving use cases of WAX.

Current Market Analysis.

Both WAX and MATIC have recently shown a very low risk score, which makes them deal investments for anyone looking to invest in altcoins. WAX is currently trading at $0.1, which is a 54% increase in price compared to last month when it traded at $0.06. The token’s market cap is around $350m. The recent partnerships with huge players in tech such as Amazon and more focus on NFTs have helped with the adoption of WAX in the past few months.

Currently, MATIC is trading at $1, a 3% decrease in price over...

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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT!

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