The growth of the cryptocurrency space saw the launch of a wide range of tokens over the past few years, and one of the tokens that has been in the news over the past few months is the one belonging to the Matic Network (MATIC).

Down 75% in the Past Two Days

The token rose dramatically since the end of September and rocketed by as much as 300% as more and more investors bought into the project. However, the token’s downward spiral commenced just as quickly over the past few hours and has declined by an astonishing 73%.

The meteoric rise in the price of the token was brought about by a range of developments that seemed to indicate that the Matic Network token’s use cases were being expanded. The possibility of the expansion of use cases resulted in a massive rally in the token, and before long, it went on a strong bull run.

However, it is believed that many of the investors and traders are fearful that the whole thing might have been an exit scam. Hence, large scale dumping of the token has been in progress over the past few hours, and it remains to be seen whether the bulls can stop this slide.

Back in the middle of November, it was announced that the network had actually tied up with big-ticket gaming company Altitude Games. That particular announcement resulted in one of the biggest rallies ever witnessed by the token, as it skyrocketed by as much as 215%.

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On November 15, the token was trading at $.0135, but on December 8, it had shot up to an astonishing $.0427, and just when many might have thought that the rally was going to continue, it came crashing down over the past few hours. At this point in time, many investors might be wondering whether the Matic Network token can actually make a comeback or not.

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Tezos (XTZ) is having a strong end to 2019, with the token seeing its price surge over 85% since early November. This boosts expectations for appreciation going forward as adoption continues to grow following initial skepticism.

XTZ Storms into the Top Ten

This week, the digital coin continues its impressive performance and gained 25%, making it the best-performing token among the top ten digital coins. Currently, the coin is trading at $1.72. On December 8, the token stormed into the top ten coins by market cap for the first time. The coin’s market cap rose to $1.4 billion to exceed its closest rival, Cardano, by around $300 million.

The rally may be cut short following the recent market slide, but so far, Tezos is among the biggest crypto gainers. In the meantime, the gap between Tezos and Bitcoin SV (BSV) has continued to narrow, which means that it could get into ninth place if it surges by another double-digit.

Staking is the New Trend in the Industry

The rally was a result of Kraken adding direct staking from Ledger hardware wallets through the Ledger Live app. The exchange offers passive income to those who choose the platform for greater security of their coins. It offers a 6% reward in comparison to Coinbase, which added staking early last month but trimmed rewards to 5%.

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Staking changes how tokens work in an ecosystem by minimizing their significance as speculative assets but also increasing their demand as a way of generating income. As a result, this means that there is enhanced price stability as well as coin demand.

The crypto market has been bearish, but XTZ has managed to defy that on several occasions in the last few months. Staking has become the new trend in the industry among various exchanges that have moved to provide custodial services with some returns. The Tezos staking rewards vary depending on the number of coins locked in.

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