There’s always an abundance of news in the crypto world. Of late, most of this news has been bearish, tied to systemic concerns and a bearish backdrop for this sector broadly. However, there are always cryptos to watch for investors seeking positive price momentum, with a number of intriguing positive catalysts worth considering.
It’s a tough time to look at any news in a positive light right now. However, the news investors received late last month that Meta (NASDAQ:META) has integrated non-fungible token (NFT) sharing on its Instagram platform after months of testing did provide a periodic boon to certain cryptos.
The idea that users can create their own digital collectibles on Instagram, and sell these tokens to fans on and off the platform, is exciting for many bullish on NFTs. Within this announcement, Meta highlighted that it will be working with different NFT blockchains, such as Polygon (MATIC-USD) and Solana (SOL-USD), to bring this about (more on these tokens shortly).
Currently, the platform has launched this feature in around 100 countries. This, in turn, has allowed users to showcase their NFTs and connect their digital wallets.
With this major move by Meta, it seems that the otherwise fallen crypto market could have a catalyst for a revival. While calls for a bull market may be premature, this is the kind of major news crypto investors will want to keep an eye on.
With that said, here are three cryptos to watch as Meta wades into the world of crypto in a big way.
Polygon (MATIC-USD)
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First on our list of cryptos to watch following this news is Polygon. As mentioned above, Polygon is among the blockchains included in Meta’s announced rollout of its digital collectibles feature. This should come as no surprise, seeing as Polygon is a leading blockchain used for smaller-scale transactions, such as those involving NFTs.
An Ethereum (ETH-USD) layer-2 scaling solution, Polygon essentially allows for…
