Crypto Price Today: Polygon, Cardano, Cronos surge 8% amid crypto rally

The crypto market showed signs of recovery on Friday after a turbulent week that saw many top coins plummet in value. Among the best performers were Polygon (MATIC), Cardano (ADA) and Cronos (CRO), which all surged by about 8% in the past 24 hours.

Polygon (MATIC)

Polygon, formerly known as Matic Network, is a layer-2 scaling solution that aims to provide faster and cheaper transactions on Ethereum. The project has gained popularity among developers and users who seek to avoid the high fees and congestion on the Ethereum network.

Polygon’s native token, MATIC, has been one of the most resilient coins in the recent market downturn, thanks to its strong fundamentals and growing adoption. According to crypto analysts, the average MATIC rate might be around **$0.88** in August 2023. It can drop to **$0.85** as a minimum. The maximum value might be **$0.92**.

Cardano (ADA)

Cardano is a smart contract platform that claims to offer more scalability and security than its rivals. The project is led by Charles Hoskinson, one of the co-founders of Ethereum, and is backed by a strong academic and research team.

Cardano’s native token, ADA, has also shown remarkable resilience in the face of market volatility, as the project prepares to launch its long-awaited Alonzo upgrade that will enable smart contracts on its network. According to crypto experts, ADA is trading at **$0.325** at time of writing and is down more than 11% in the past week. However, they expect a rebound in the coming months as Cardano’s ecosystem expands.

Cronos (CRO)

Cronos is a new blockchain platform that is powered by Crypto.com, one of the leading crypto platforms that offers a range of products and services, such as an exchange, a wallet, a debit card, a payment network and more.

Cronos’s native token, CRO, is used for various purposes on the Crypto.com ecosystem, such as staking, governance, rewards and fees. CRO has also benefited from the positive sentiment around Crypto.com’s recent achievements, such as launching its own NFT marketplace and acquiring an Australian crypto exchange.