Since November, the broader cryptocurrency market cap has been setting successively higher lows. It could retest the $1.62 trillion market cap to break $2 trillion. For now, as most traders are panic selling, the opportunity comes to those with patience and thorough market knowledge.

Move values to the mean to properly gauge how deep investors are moving into pain or excitement zones. Currently, the 30-day MVRV shows a bullish divergence in price action for Polygon, Fantom and Terra.

Polygon (MATIC) opens the next level of price volatility.

The Polygon ecosystem is showing solid signs of exponential growth in 2022, and Tradingview's one-day K chart suggests that MATIC prices are on the verge of surpassing the 20-50 day SMA to round the $2 mark. In addition, we can expect potential reasons for the price spike.

1/3 @AlchemyPlatform Latest numbers are in and it’s official: #Polygon developer ecosystem reaches a new milestone with over 7,000 dApps deployed on the web https://t.co/6UaKidAT9o

– Polygon | $MATIC 💜 (@0xPolygon) January 27, 2022

According to Alchemy, the world's leading DeFi platform demonstrates that the Polygon network has hosted over 7k+ dapps since its introduction. The tremendous growth of new DeFi and NFT applications has led to a significant increase in fees on the ETH blockchain. To take advantage of fast and cost-effective transactions, many users migrated to Polygon.

1/ @0xPolygon has had a great NFT campaign on @opensea this past month as global brands continue to abandon their collections.

Transaction volume: $78.9 million Average transaction/day: 102k Projected monthly savings: $195.6m Average cost/transaction: $0.04 pic.twitter.com/MHoa7Zlwid

According to recent analysis, the total number of transactions in January 2022 has exceeded $78 million, with an average daily volume of 102,000 transactions. Compared to December 2021, total transaction volume increased by 3.6% and NFT transaction volume increased by 34.6%.

Terra (LUNA) prices are expected to rise sharply

Terra Luna has been one of the top cryptocurrencies to push higher and make new highs until late December. With the 200-day SMA finally rising, LUNA price is likely to reach the 20-day SMA at $63.80. If the bulls continue to hold on to the resistance mentioned above, $85 is the next milestone.

While the ecosystem's TVL (Total Value Locked) has been depleted by more than 25%, it is still the second largest TVL after ETH. While cottage coin trading prices are at multi-month lows, the current trade appears to be the perfect opportunity to cannibalize.

Overall, MATIC and LUNA have emerged as leaders in the DeFi space with new milestones. Currently, they are trading in the best buy areas, which is usually where the longs bottom out.