Cryptanalysis: Matic, Band, Kadena and Casper

Among the tens of thousands of altcoins, there are a few cryptoassets that have interesting properties, such as Matic, Band, Kadena and Casper.

MATIC (polygon)

Right now one of the “hottest” Polygons is MATIC.

In fact, in the last 24 hours the price has been +17%, while the cumulative gain in the last two weeks is almost 40%.

Polygon is probably the most widely used second layer of Ethereum. It is a project that aims to create an Ethereum compatible multi-chain system to enable fast and cheap transactions.

More reports has recently come out regarding Polygon’s adoption, which continues to grow significantly over the months.

After collapsing in May, the annual low price of MATIC, which is Polygon’s native token, occurred around mid-June at $0.35.

It has now climbed back above $1.1, which is a 220% decline from the lows. Although MATIC’s price is still 61% below its December 2021 all-time high, current levels are in line with those at the beginning of May.

In other words, MATIC’s price has already recovered all the losses accumulated from crashes in May and June.

The reason is precisely linked to the steady growth of adoption. For example, the current daily transaction volume on the Polygon network is on par with March, and nearly seven times higher than before the bubble.

The same price trend does not seem to slavishly follow that of ETH, for example, since MATIC’s current price is similar to that of May 2021, while that of ETH is less than half of that of May 2021.

MATIC thus follows its own path, although strongly influenced by the crypto market cycle, driven not so much by speculation as by actual usage.

Tape protocol

BAND is the symbol of the Band Protocol project

Although the price is still 85% at all times in April 2021it has exploded in recent days.

In fact, it is up more than 120% in just the last 24 hours, and more than 220% in the last week.

It landed in the crypto markets in 2019, and already in July 2020 it started to climb, which is months before the start of the last big bull run in the crypto markets.

Although it had never previously risen above $1, it already reached $2 in June 2020, and in September of the same year it passed $15. In other words, it gained 1400% in about three months.

After falling back to $4, it rose again in January 2021 following the general trend of the crypto market. It peaked in April of the same year at nearly $23.

But since then the value has dropped a lot, especially in May 2022 when it fell from more than $5 to less than $2.

Until November 2, it had done nothing but fall further, all the way below $1, but in the last two days the price has returned to above $3.5. It is now capitalized at just under 150 million dollars.

The Band Protocol project offers decentralized oracles across chains. It recently announced the release of an update to BandChain version 2.4, and it is possible that this news has increased its value.

Kadena (KDA)

KDA is the original cryptocurrency of the Kadena project.

It is a minor cryptocurrency, to the extent that in the ranking of those with the largest market capitalization it is only ranked 145th with less than 300 million dollars.

However, it has only been around since 2020, and during the previous bull run it increased very noticeably.

In fact, until April 2021, the price had never exceeded $1, and in mid-September the value was around this threshold.

Between October and November of last year, it jumped in a matter of weeks to $27, which is a 2,600% gain in just over two months.

However, since then it has lost 95% of its value, returning to around $1.3.

Obviously, what happened in October and November 2021 was just a temporary speculative bubble, but it is interesting that the current price is higher than at the end of 2020, when it was no more than $0.2.

So compared to then, the current price is still 550% higher, and is in line with April 2021.

Kadena is a blockchain based on Proof-of-Work, like Bitcoin, but with low energy consumption. It was born precisely to try to prove that it is possible to do Proof-of-Work while keeping the consumption low, although this may be due to the relatively low overall value of the original cryptocurrency.

So far, it has yet to succeed in establishing itself as a viable alternative to Bitcoin, or its consensus mechanism, but if nothing else, it shows that even Proof-of-Work can be improved.

Casper (CSPR)

CSPR is the cryptocurrency of the Casper Network.

Recently, the price development in the crypto markets has not been good, but the project behind it is distinctive.

In fact, the current value is 97% below all-time high in May 2021but CSPR debuted in the crypto markets in the same month, which was during the first speculative bubble of the last bull run.

Since then, it has done virtually nothing but fall, although current levels are still well above the June 2022 low. In fact, it has recovered 75% since then.

Its debut in the markets at the very peak of the first speculative bubble of 2021 certainly gave the subsequent trend to the price.

As of today, it is capitalizes more than 400 million dollarswhich is more than Kadena.

The Casper Network is a Proof-of-Stake based blockchain that was created to try to facilitate the adoption of blockchain technology by large corporations.

For this reason, it initially attracted a lot of attention, although this has subsided over the months.

Its aim is high scalability, ease of use, optimization for industrial use and low transaction costs.

However, the problem is very strong competition, since in some ways it is similar to many other projects.