Understand a little more about these altcoins
Although there are several combinations of altcoins that help to lower market risk to some extent. One such combination is MATIC and LINK. The two altcoins have opposite correlations with Bitcoin during its peak and corrections. LINK rebounded after the historic fall of the BTC, while MATIC rebounded alongside the BTC. This is based on your price trend and year-to-date observations.
Both altcoins are in the top 20 based on market capitalization on coinmarketcap.com, and the parallels drawn between the two make them ideal for adding to a portfolio.
LINK was trading at 52% of its ATH, however, at that price level, the market capitalization was $24.7 billion. Altcoin is currently trading at the $24.71 level. Social volume has been hit, based on a graph from lunarcrush.com and this is a sign that altcoin is undervalued. LINK has remained in the range below the $32 level for more than two weeks, and the price will likely exceed $40 if the rally continues.
LINK – Social Volume | Source: Lunarcrush
In the case of MATIC, after falling to the $0.8 level, altcoin rebounded and traded at the $1.45 level. The recovery was quick due to liquidity and volatility in exchanges. 24-hour trading volume on major markets across all exchanges is relatively high for MATIC, making the recovery faster than anticipated.
The price was 45% away from its ATH and MATIC’s growth is more organic than ever. Starting as an L2 scaling solution, MATIC has come a long way in terms of partnerships, community building and social media mentions. The long-term sentiment among traders is optimistic and, when choosing altcoins to add to a portfolio, LINK and MATIC are competitors. The ability to post profits in the overall portfolio through bloodbath and flash crashes makes it profitable for traders to add these two altcoins in similar volume to their portfolio.
Institutional investors showed interest in both and accumulated LINK and MATIC during the May 19 flash crash. Further build-up is expected in the short term if there is a bloodbath triggered in the weeks following June. However, until then, these two altcoins complement each other in terms of metrics, HODLer composition and price trend.