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Stader MaticX (MATICX) price saw a 12% surge between August 26th and 29th to an intraday high of $0.6507. The token has maintained a steady uptrend over the past week, posting higher highs and higher lows.
What is Stader MaticX?
Stader is a liquid staking protocol that has worked with multiple ecosystems since its inception. The stake token for this protocol is X. That means its partners Ethereum, Polygon, Hedera and others would be the X symbol. Ethereum becomes ETHX while Polygon becomes MATICX.
Half of Stader’s TVL is in $MATIC
$HBAR and $ETH contribute 20% and 13%, respectively.
For a liquid staking protocol, they support a fairly diverse set of chains that also include Fantom, BNB, and Near.
Stader’s stake token is X, so ETH becomes ETHX, MATIC becomes… pic.twitter.com/BW3LNFquKG
— TheCryptoJourno 🕵🏻♂️ (@ZacharyColbert) July 29, 2023
It’s worth noting that Polygon (MATIC) accounts for about 50% of the Stader network’s Total Value Locked (TVL). Ethereum (ETH) and Hedera (HBAR) account for 13% and 20%, respectively. This is to be expected considering that liquid staking protocols tend to support multiple chains.
The project offers users the opportunity to wager and earn wagering rewards. This is achieved through the Stader network’s liquidity stake token X. For Polygon, this is MaticX. Users can access instant liquidity in the Polygon ecosystem while exploring exciting opportunities in decentralized finance (DeFi).
Stader’s layout solution for Polygon is MATICX, a liquid layout solution for MATIC. Stader allows users to earn MATIC Stake Rewards https://t.co/1i5UKitfsH @stader_polygon pic.twitter.com/QqAGfcPGEl
— Nir Jatyp (@M1ckyRen) August 15, 2023
The Stader Protocol has an extensive portfolio with at least $90 million in assets under management. It’s also a hub for major supported chains and an active user base of over 70,000 profiles. Users coin MaticX for MATIC staking. This makes MaticX a liquid token that can increase in value over time due to accumulated staking rewards.
✦ Stader has an impressive portfolio of over $90 million in staking assets, large backed chains and an active user base of over 70,000 profiles.
By staking #MATIC, users coin $MaticX. $MaticX, a liquid token, increases in value over time due to accumulated staking rewards.
— Tenet Protocol (@tenet_org) July 4, 2023
What triggered the Stader MaticX price increase?
The increase in MaticX price came amid the hype surrounding MATIC liquid staking. Among the benefits of this mechanism is that it results in increased capital efficiency and TVL. More specifically, it provides stakers with more liquid stake tokens to stake in DeFi and increase TVL.
It also offers more options, flexibility for MATIC holders, and new structural rewards. These range from yield farming, vaults and lending to other added value for the Ethereum and Polygon ecosystems.
How #MATIC Liquid Staking Improves Polygon Proof-of-Stake🔥🔥🔥
Learn more about #ANKRhttps://t.co/V6wFjRpFB6#WEB3 #PolygonCommunity #infrastructure #blockchaintechnology #DeFi #liquidstaking pic.twitter.com/qgVxOZxVqN
— Clintonian.eth (@Empclintonian) August 28, 2023
Stader MaticX price prediction as the bullish flag pattern primes MATICX for a 10% surge
At the time of writing, Stader MaticX price is $0.6208, up about 5% daily, with signs of a 10% rally ahead. The price action has formed a bullish flag pattern over the four-hour period (see chart below).
A bullish flag pattern is a positive technical formation that predicts the extension of an uptrend in the near future. MATICX price action is consolidating within the two parallel trend lines in the opposite direction of the uptrend. This happens before the breakout and continuation of the uptrend.
The flag cap at $0.6334 is currently acting as resistance. The decisive bounce into the support zone of this supplier congestion zone would activate the chart pattern and potentially catapult MATICX 10% to the psychological $0.7000 level.
Technical indicators support this outlook, with the Relative Strength Index (RSI) position at 59, indicating strong price strength. Likewise, the Awesome Oscillator histogram bars are positive, making the bullish outlook more credible.
TradingView: MATICX/USD 4 hour chart
Conversely, if selling pressure continues or buyers remain idle, Stader MaticX’s price could fall. A crucial 4 hour candle close below the immediate support at $0.6181 would invalidate the bullish thesis. Such a move would pave the way for a drop to the August 18 lows of $0.6086.
Worst-case scenario, MATICX could extrapolate its downtrend to the $0.5766 support floor, which would mean a 7% drop from current levels.
The RSI, which is sloping south, suggests the momentum is fading, while the histogram bars turning a red hue suggests that the bears are gaining ground. This could bode badly for the price of the Stader MaticX.
As the MATICX price charts the next move, turn your attention to WSM, a more promising pick for investors looking for early-stage investing. Just under a week ago, the token broke the $26 million mark in presale.
Promising alternative to MATICX
WSM is the ticker for the Wall Street Memes ecosystem. It is an up and coming meme coin that is gaining a lot of attention with over a million followers across different platforms. It is endorsed by figures such as Michael Wrubel, a famous YouTuber who also reviews XRP20 and Shibie Coin. The project is in the final stages of its presale. This amazing project has raised over $25 million in just four months.
Too late pic.twitter.com/QmesJ7m2Dp
— Wall Street Memes (@wallstmemes) August 29, 2023
People are comparing its potential to that of Dogecoin (DOGE). Even his popularity is further fueled by Elon Musk’s dedication to his Twitter account.
Literally
— Elon Musk (@elonmusk) March 18, 2023
Wall Street Memes recently announced plans to list on top tier exchanges within 28 days. This move is expected to result in a rapid increase in market capitalization, as seen in similar listings in the past.
Meanwhile, WSM has attracted a lot of attention with a prominent crypto whale. Recently, a giant whale pledged over $1 million to acquire WSM tokens during its pre-sale period. This whale address conducted a series of transactions and accumulated 460 ETH in a short period of time.
🚀💼🐋 Wow! A Massive $1M Investment by a Crypto Whale in the Wall Street Memes Presale! 📈💰 This causes $WSM to surpass the $20 million mark. Will this be the next explosive meme coin? Stay tuned for all the interesting details! 📢💥 Like and Retweet to spread the excitement! pic.twitter.com/VtSbsywQZa
— Whales Finder (@WhalesFinder) August 2, 2023
This remarkable investment illustrated the growing awareness of WSM. Additionally, it indicated robust confidence in its return potential.
Wall Street Memes also initiated a $50,000 airdrop to commemorate the pre-sale triumph. Individuals have an opportunity to participate and have a chance at winning by completing simple social media tasks.
Interested investors should hurry as the time is ticking for Tier 1 listings as the opportunity to participate in the Wall Street Memes presale continues to elapse.
How to buy WSM
Also read:
Wall Street Memes – The Next Big Cryptocurrency
- Early Access pre-sale now live
- Established community of stock and crypto traders
- Featured on BeInCrypto, Bitcoinist, Yahoo Finance
- Ranked as the best cryptocurrency to buy in the meme coin sector
- Team behind the OpenSea NFT Collection – Wall St Bulls
- Tweets replied to by Elon Musk
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