Home web3.0 Top Reasons To Buy And Hold Polygon (MATIC), Arbitrum (ARB), and Optimism (OP)

Top Reasons To Buy And Hold Polygon (MATIC), Arbitrum (ARB), and Optimism (OP)

Aug 27, 2024 am 06:26 AM
polygon Arbitrum Optimism

The next few weeks will be crucial for investors and may drive a wedge between those who ace the bull market and those who will drown in losses.

Top Reasons To Buy And Hold Polygon (MATIC), Arbitrum (ARB), and Optimism (OP)

Bitcoin price recovered from a major crash below $50,000 last week as investors welcomed the Fed’s signal for interest rate cuts, and altcoins rebounded with ETH in the lead.

Top Reasons To Buy And Hold Polygon, Arbitrum and Optimism

The next few weeks will be crucial for investors and may drive a wedge between those who ace the bull market and those who will drown in losses. For that reason, investors must be vigilant and cautious with their actions heading into Q4. The last quarter of the year tends to be bullish for crypto prices, giving people a chance to recover from unrealized losses. The rally that took BTC price to all-time highs in March 2024 commenced in Q4 2023 as optimism for spot ETF approvals surged.

This article will explore why investors should buy and hold Polygon, Arbitrum, and Optimism—some of the leading Ethereum layer 2 scaling projects. Polygon is the largest token among the three, boasting $4.76 billion in market cap, followed by Arbitrum with $2 billion and Optimism with $1.8 billion.

Polygon’s Positive Network Growth and Token Rebrand

Polygon is a top layer 2 Ethereum scaling protocol. It is valued at $0.5132 on CoinGecko after growing 22.6% weekly. However, due to profit-taking, MATIC rolled back 4% in the last 24 hours.

Several factors prop MATIC price as an altcoin to buy and hold starting now for commendable gains in Q4. Key among them is the upcoming rebrand of MATIC to POL. The new token will be utilized for gas payment and staking during the initial stages but will play a crucial role in the AggLayer. According to the Polygon official blog, the migration will take place on September 4.

The transition to POL is expected to make the Polygon attractive to investors, making it worth buying and holding. On-chain data from Santiment reveals a gigantic spike in newly created addresses from only 6 on August 17 to 97 on August 7, implying rising demand for the token MATIC.

2. Arbitrum Staking Growth

Arbitrum is a Layer 2 scaling solution for Ethereum, just like Polygon. It’s renowned for its high throughput and low transaction fees.

The protocol boasts a unique design known as Optimistic Rollups, which ensures security and compatibility with the larger Ethereum ecosystem. Arbitrum has, since its inception, become a popular choice for developers and users seeking faster and more affordable transactions.

The native ARB token is valued at $0.5915. Following last week’s rally, ARB price pulled back from $0.6339 but maintained an 11% gain in seven days.

Investors show growing interest in Arbitrum, reflected by the spike in its decentralized finance (DeFi) market’s TVL to $2.83 billion from $2.4 billion in early August, Defi Llama shows. An increase in TVL shrinks the potential selling pressure, allowing the ARB price to rally.

3. Optimism Soaring Profitability

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