Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Other Popular Cryptos / Coins => Polygon MATIC Forum => Topic started by: Yamane_Keto on July 06, 2024, 02:15:52 PM
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Crypto asset manager Grayscale Investments announced updated component weightings of crypto assets in its key funds based on the second quarter 2024 reviews. The key funds are Grayscale Digital Large Cap Fund (GDLC), Grayscale DeFi Fund (DEFG), and Grayscale Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund). It has removed Polygon (MATIC) from GSCPxE Fund as part of rebalancing.
According to the latest press release, no new tokens were added or removed from Grayscale Digital Large Cap Fund (GDLC). The component weightings are Bitcoin (70.46%), Ethereum (23.51%), Solana (3.86%), XRP (1.54%) and Avalanche (0.63%).
As CoinGape reported, XRP and AVAX were added earlier in January to replace Polygon (MATIC). Also, Cardano (ADA) was removed from GDLC in April.
Source https://coingape.com/grayscale-removes-polygon-matic-retains-these-crypto-assets-funds/
Polygon (MATIC) Cardano (ADA) was deleted and Solana and XRP were kept. The thinking of these institutions may be beyond the information available to us, but deleting MATIC may give a negative signal to investors.
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Matic is the very good project currently from my point of view, but this news is the signal to the investors who have invested in this project. although Matic already had dropped its value but along with this also many other coins also have dropped their market value as well. Current drops in many projects are just because of market conditions where we are selling high selling pressure by the big money.
But in the case of Matic, we have to wait for it to check the real result of the news you shared and for that we need to wait till the market sets itself at good market condition. Also, note that we are in a crypto space the majority of the news is spread on the social platform just to create FUD so that early position holders take an exit from the market and where big money and other opportunity seeker can buy at lower. Through FUD those early positioner who gets prey to it and newbies in the crypto space just have to repent and those who know this game stay as it is and keep holding.
Well, for this news I am not so sure and also I am not holding a big amount in Matic so in case of loss, I can bear this amount so I am still holding it. DYOR! :)
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Polygon (MATIC) Cardano (ADA) was deleted and Solana and XRP were kept. The thinking of these institutions may be beyond the information available to us, but deleting MATIC may give a negative signal to investors.
Not sure why they deleted MATIC and ADA. As far as I know, these coins are trusted coins and have good reputation for many years. They may think MATIC and ADA prices move a bit slow, it is not as quick as SOL and XRP. However, I think the products and the usecases of MATIC and ADA are very good, we shouldn't doubt it. Sure, this will lead to bad impression to the investors. However, I still believe that MATIC and ADA have bright future.
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Polygon (MATIC) Cardano (ADA) was deleted and Solana and XRP were kept. The thinking of these institutions may be beyond the information available to us, but deleting MATIC may give a negative signal to investors.
I think it is the other way around, the signal from investors is what triggered the deletion, looking at ATH, XRP is next
Polygon -83.2%
Solana -46.9%
Cardano- 88.3%
XRP -87.3%
I think we're entering a 3rd cycle, probably a new wave of coins that were all the rage in 2021 are going to end up forgotten.
NEM, Waves, Dash, Eos, all went like this, every cycle there is a clean-up in the top 10 top 25!
I would bet avax and chain(link) are next.
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Well, for this news I am not so sure and also I am not holding a big amount in Matic so in case of loss, I can bear this amount so I am still holding it. DYOR! :)
No, it's not FUD, almost all news sites published the details, but if you want the source, this is it: https://www.globenewswire.com/news-release/2024/07/05/2909187/0/en/Grayscale-Digital-Large- Cap-Fund-Grayscale-DeFi-Fund-and-Grayscale-Smart-Contract-Platform-Ex-Ethereum-Fund-Announce-Rebalancing-of-Funds-for-Second-Quarter-2024.html
I think it is the other way around, the signal from investors is what triggered the deletion, looking at ATH, XRP is next
Polygon -83.2%
Solana -46.9%
Cardano- 88.3%
XRP -87.3%
After selling Polygon (MATIC), GSCPxE Fund has
Solana (SOL), 65.80%
Cardano (ADA), 14.67%
Avalanche (AVAX), 10.70%
Polkadot (DOT), 8.83%
Cardano, Avalanche, and Polkadot are still around, although Polygon is performing better than them.
DEFG contains
Uniswap (UNI), 53.75%
MakerDAO (MKR), 17.94%
Lido (LDO), 12.68%
Aave (AAVE), 10.58%
Synthetix (SNX), 5.05%
Therefore, some of them may be removed by the end of the year.
GDLC does not contain any updates
Bitcoin (BTC), 70.46%
Ethereum (ETH), 23.51%
Solana (SOL), 3.86%
XRP, 1.54%
Avalanche (AVAX), 0.63%
Therefore, the chance of removing XRP seems less.
https://www.globenewswire.com/news-release/2024/07/05/2909187/0/en/Grayscale-Digital-Large-Cap-Fund-Grayscale-DeFi-Fund-and-Grayscale-Smart-Contract-Platform-Ex-Ethereum-Fund-Announce-Rebalancing-of-Funds-for-Second-Quarter-2024.html
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Polygon (MATIC) Cardano (ADA) was deleted and Solana and XRP were kept. The thinking of these institutions may be beyond the information available to us, but deleting MATIC may give a negative signal to investors.
......
I think we're entering a 3rd cycle, probably a new wave of coins that were all the rage in 2021 are going to end up forgotten.
NEM, Waves, Dash, Eos, all went like this, every cycle there is a clean-up in the top 10 top 25!
I would bet avax and chain(link) are next.
Oh yes, NEM, Waves, Dash and EOS are no longer in the top 100 Coinmarketcap and you are indeed a Legend who knows all the coins by heart and has become history.
Btw, are you serious that Avalanche and Chainlink will lose their rankings to the point of dropping below the top 100 Coinmarketcap?
I want to know the reason why you think Avalanche and Chainlink could be knocked out of the top 100, I am still surprised by your statement mate.
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Polygon (MATIC) Cardano (ADA) was deleted and Solana and XRP were kept. The thinking of these institutions may be beyond the information available to us, but deleting MATIC may give a negative signal to investors.
Not sure why they deleted MATIC and ADA. As far as I know, these coins are trusted coins and have good reputation for many years. They may think MATIC and ADA prices move a bit slow, it is not as quick as SOL and XRP. However, I think the products and the usecases of MATIC and ADA are very good, we shouldn't doubt it. Sure, this will lead to bad impression to the investors. However, I still believe that MATIC and ADA have bright future.
Yes, these are old coins that had maintained stability and consistency on the crypto market, I am surprised by this move, though Grayscales did not give reason for the removal of this great projects. Ada is a potential project that is well focus on sustainability, scalability, and transparency. polygon MATIC is a well structured multi chain system and a scaling solutions.
I think that Ada and matic are already established on the crypto community many years ago, and they are among the best project globally.
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Is this the reason why POL is falling faster? This time the price of POL has fallen more than -2% in the last 24 hours and more than -4.77% in the last 7 days.
https://coinmarketcap.com/currencies/polygon-ecosystem-token/
Indeed, most altcoins have fallen because they followed the price of BTC which also started to fall after failing to retest to $70k. It's just that the decline in this coin is quite fast, moreover, yesterday the price also did not increase significantly, so the hope for this coin to rise again is very small. I really regret why this coin became one of my favorite ones in the past time so that I bought them more and more at that time, same as XRP and ADA.
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Source https://coingape.com/grayscale-removes-polygon-matic-retains-these-crypto-assets-funds/
Polygon (MATIC) Cardano (ADA) was deleted and Solana and XRP were kept. The thinking of these institutions may be beyond the information available to us, but deleting MATIC may give a negative signal to investors.
Polygon seems to be unable to rise again because there is a lot of FUD that I see in various online media. And I just saw this again, even though this topic was created in July 2024 but I think the effect is still felt when I reply to this topic.
Polygon Matic maybe in July the price was around 0.6 dollars and now the price of this Polygon coin has lost half its value, which is 0.32 dollars. Maybe this is what is called crypto because the price cannot be predicted but I am also sure that if it continues like this Polygon will be abandoned by traders and investors.