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Five Layer 2 Tokens We’re Watching Into May

 

Layer Two cryptos are those frameworks which are built on top of an existing blockchain. They are reliant on layer-1 or underlying blockchain for security.

Many different crypto coins can be bought in the market. However, not all of them have the same value, and some are more profitable than others. In this article, we will be discussing the top layer of two crypto to buy in April.

Polygon (MATIC)

The MATIC volume on all exchanges has been decreasing for the past week and hitting a 7-Day Low of $264.06m. The graph also shows that it is at a high point, with volume touching the 7-Day High of $1.62b. 

Top 5 Layer Two Crypto To Buy In April 2022: Matic, Lrc, Omg, Skl, Zks
Matic Chain Data

MATIC is currently priced at $1.38 and ranks #17 on CoinMarketCap. MATIC also has a supply of 10,000,000,000 coins with a market cap of 10.7 billion dollars.

On the 1D timeframe, the price action of $MATIC/USDT Forms out the Bullish Double Bottom pattern where the price action has completed out the 1st and 2nd bottom both. The Horizontal Resistance also has marked which is also the neckline of it. Let’s wait for the further price action to check out the movements.

Double Bottom In Matic
Double Bottom in MATIC

Loopring (LRC)

Loopring is an open-sourced blockchain technology that allows a decentralized crypto exchange, incentivizing users worldwide. The long-term potential of Loopring is very appealing, but we need to see the current support levels before we can determine its validity. However, the recent price increase has helped LRC’s price go up significantly.

LRC is currently priced at $0.9355 and ranks #76 on CoinMarketCap. LRC also has a supply of 1,374,513,896 coins with a market cap of 1.2 billion dollars.

In the 1D timeframe, the price action of $LRC/USDT formed the Bullish Harmonic Bat pattern, and currently, it is consolidating at the demand zone level.

Bullish Harmonic Bat In Lrc
Bullish Harmonic Bat in LRC

OMG Network (OMG)

The OMG Network is a value transfer network built on the Ethereum blockchain and aimed to be the first production-grade “layer two” scaling solution. It facilitates faster, cheaper, and more secure transactions with various digital content. OMG is a good investment option for the future and has a good outlook. Therefore, investing in OMG Network would be a sound decision as it has maintained its value.

OMG is currently priced at $4.62 and ranks #107 on CoinMarketCap. OMG also has a supply of 140,245,399 coins with a market cap of 647 million dollars.

In the 4H timeframe, the price action of $OMG/USDT formed an ascending triangle pattern where the price action played with the support and resistance level within the range.

Top 5 Layer Two Crypto To Buy In April 2022: Matic, Lrc, Omg, Skl, Zks
Ascending Triangle in OMG

SKALE Network (SKL)

SKALE is an Ethereum token that powers the Skale Network, which describes itself as a leaderless consensus network and allows for uncapped node usage. The nodes of the Skale Network provide resources to applications through discreet contracts. SKALE Network sounds good, and its approach to smart contracts is great!

SKL is currently priced at $0.1854 and ranks #108 on CoinMarketCap. SKL also has a supply of 7,000,000,000 coins with a market cap of 643 million dollars.

In the 4H timeframe, the price action of $SKL/USDT formed out of the Descending Triangle Pattern. The price action rejected the Resistance trendline and respected the Horizontal Support level.

Descending Triangle In Skl
Descending Triangle in SKL

ZKSpace (ZKS)

ZKSpace is a new approach to decentralized exchange. ZKSpace leverages the powers of Layer-2 scaling solutions like ZK-Rollups, which provide security, cost savings, and many other benefits.

ZKS is currently priced at $0.11 and ranks #739 on CoinMarketCap. ZKS also has a supply of 1,000,000,000 coins with a market cap of 21 million dollars.

In the 1D timeframe, the price action of $ZKS/USDT forms the Double bottom. The price action at the Horizontal Support level needs to break out of the Resistance level before making any impulsive moveout.

Double Bottom In Zks Price
Double Bottom in ZKS Price

 

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The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
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The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

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What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

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