Thanks to the use of blockchain technology, smart contract platforms offer new solutions for various industries. Platforms with intelligent communication allow users to interact with what is called a “robot” tool.
These smart contracts are self-executing, allowing blockchain solutions to be reliable and potentially accessible from anywhere in the world. Although Ethereum is the most popular smart contract platform, there are now new entrants in the system worth investing in, such as Solana, Polygon, Polkadot, EOS, and Cardano.
1. Ethereum – Ancestor of All Smart Contract Platforms
Ethereum (ETH) is leading smart contract innovation, although it currently faces many challenges such as high gas fees and scalability issues. However, due to the wide ecosystems it supports, the superiority of this platform is undeniable at the moment.
At the time of writing, Ethereum price is trading around $2,409. A resistance at $2,650 interrupted this week’s recovery. However, if the $2,400 support remains intact, Ethereum is likely to gain ground soon and perhaps extend into the next recovery phase above $3,000 and towards $4,000.
2. Polygon – Mark Cuban’s Favorite
The price of Polygon (MATIC) has had an impressive bull run since the beginning of the year. MATIC has made it into the top 20 cryptocurrencies on the market after reaching an all-time high of $2.77. However, the selling pressure in the market caused Polygon to drop as low as $0.7 at some point before recovering to $2.4.
At the time of writing, MATIC is trading at $1.55, an increase from the $1.2 support level. The four-hour chart shows that the short-term outlook is bullish and could lead to more gains if the resistances at $1.8 and $2 are surpassed. The MACD indicator is positioned above the zero line, contributing to the uptrend.
Interest in Polygon is growing strongly among institutional investors, including billionaire Mark Cuban. There has been a development recently seen as a big win for the ecosystem, and the DeFi-focused Kyber Network has switched to Polygon.
3. Solana – Super Fast Blockchain
Solana’s (SOL) price is hovering around $38, within the borders of an ascending triangle at the time of writing. The $44 resistance signals a tighter downtrend. However, buyers continue to strengthen as Solana creates a higher low (a movement that does not go below the lowest point, but rises with an occasional up and down price movement).
Finally, a break above the horizontal (x-axis) resistance is expected before the trend lines converge. If things go as expected, a 45 percent increase is expected in the near future, which will likely push Solana to $64 per coin (an all-time high).
Due to Solana’s unique technology based on the Proof-of-History protocol, it provides the blockchain with the ability to process up to 65,000 transactions per second. This is one of the most important reasons why it is a project that attracts the knowledge of investors.
4. Polkadot – Interoperability for the Masses
Since its inception, Polkadot (DOT) has positioned itself as a champion of true blockchain interoperability by bringing security, scalability and innovation. Developers can create a contract in minutes thanks to the easily accessible blockchain innovation.
Apart from that, Polkadot price seems to have rallied from a $20 support level and stuck around $23 after the recent recovery. Polkadot is expected to extend its rise to $37 with an optimistic short-term outlook.
5. Cardano – Slow But Steady Progress
Cardano is a Proof-of-Stake cryptocurrency token that has gained tremendous traction among its peers in recent months, especially due to reaching developmental milestones. While the smart contract feature is not currently available on Cardano, it will become available in September, making the token a good investment right now.
ADA is trading at $1.52 after losing 3.5% in 24 hours, according to data from CoinMarketCap. The value of Cardano is likely to increase as the countdown for smart contracts approaches.