The crypto market has exhibited bearish woes throughout the month of August, leading to losses for investors across the globe.
However, September could be the face of change ahead of Uptober, and BeInCrypto predicts these three events could occur next month.
Crypto Prediction: MATIC Could Note a 100% Rise in September
MATIC price could very well be on track to note a massive rally of nearly 103% in the coming month for two reasons. The first is the upcoming migration of MATIC to POL. Scheduled for September 4, Polygon’s mainnet upgrade will witness the transition of its ticker to POL.
After a successful testnet launch on July 17, the mainnet upgrade will result in POL becoming the primary token for gas fees and staking on the network. The highly anticipated event could provide a crucial boost to the asset.
Secondly, MATIC’s price is breaking out of its nearly seven-month-old descending wedge. This bullish pattern predicts a 103% rise to $0.85 following the breakout, which the altcoin already has.
Read More: How To Buy Polygon (MATIC) and Everything You Need To Know
While the last few days have not been promising, a bounce off the upper trend line and high volumes expected to arise from the POL migration could be the key to this rally. Polygon investors should look forward to this.
Real World Assets Lose Their Hold
For the majority of Q2 and half of Q3, Real-World Assets were a hot topic in the crypto market. As investors flocked to take a piece of these assets, RWAs thrived. However, the last month and a half have not been favorable to them.
In addition to bearish broader market cues, RWA tokens lost their appeal considerably more than other categories of crypto assets. Within just a month, their total market cap declined by 22% from $35 billion to $27 billion.
Read More: What is The Impact of Real World Asset (RWA) Tokenization?
Thus, the following month does not seem to be happening for these tokens. With the receding demand and bearish cues, the month of September could be colder for RWAs.
Fantom Sets up a Multi-Year Bounce
Like Polygon, Fantom is about to go through a massive change next month, probably even bigger. Announced back in March, the next upgrade is set to build the foundation of relaunching Fantom to Sonic.
This transition is anticipated to scale Fantom’s transaction processing capability to 2,000 transactions per second. As a result, the chain could process up to 180 million transactions daily.
Fantom’s price is also expected to capitalize on this bullishness, given it’s already preparing for a breakout. Trading within a descending wedge since late March, FTM could bounce back off the multi-year support floor of $0.1729.
Read More: Fantom (FTM) Price Prediction 2024/2025/2030
Historically, a bounce off this level has led to exceptional rises, and the transition to Sonic combined with it could send Fantom’s price to $1.0000. Consequently, the month of September will likely set FTM to note a 133% rise from its current price.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
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