Investor sentiment is about to shift very rapidly in crypto, and many investors are now shunning VeChain (VET) and Polygon (POL) and heading towards newer tokens. Greater disillusion with hype tokens and fleeting presale manias have led to a demand for assets with actual utility and not speculation mania.
In 2023 to date alone, billions have been vaporized in meme coins presales and investors and startups are moving towards solid problem-solving platforms. A “Next XRP” is in the works as estimated by certain onlookers, a PayFi altcoin that has presold more than $13.7 million.
Below, we explain why attention on POL and VET may be waning and how a new player called Remittix could revolutionize cross-border finance.
Why VeChain (VET) Growth Seems Stalled
Enthusiasm for VeChain started with its vision to make supply-chain tracking more efficient with blockchain. By connecting digital identities with physical assets, VET had a vision of making a variety of industries more transparent from luxury items to agriculture.
Initially, many business pilots were testing VeChain’s proof-of-concept feasibility and fueling speculation regarding use of VET globally. Despite such expectations, large-scale use cases have not materialized and investors have been left disillusioned.
Market data has reported VET in most of 2023 as being range-bound and not so much in a positive momentum as in earlier cycles. Even though VeChain has acquired several partnerships, critics are quick to point out that ongoing pilots have not been translated into worldwide large-scale adoption.
With attention now being focused on more near-future finance in everyday life, next-generation utility tokens are no longer overshadowed by VET.
The Slowdown in Polygon (POL) Adoption
Similar concerns affect Polygon (POL), a layer-two solution for Ethereum that had promised to make a big impact in reducing transaction speeds and fees.
Initially, POL wagered that numerous DeFi and NFT projects would transition to Polygon, a platform that is capable of processing thousands of transactions per second at a much lower cost than Ethereum.
Although a handful of dApps succeeded on Polygon, the platform became more competitive as numerous chains and roll-up solutions materialized on the scene.
Consequently, many holders have opted to shift their focus away from POL to more innovative activities that have a direct impact on global finance and not incrementally building innovations for decentralized apps.
Remittix: The PayFi Revolution Attracting Investors
While VET and POL lose their luster, a new PayFi altcoin named Remittix (RTX) is making waves and raising funds by solving a big problem: cross-border remittances.
Remittix has raised more than $13.7 million in presale as there is a keen demand for a crypto-to-fiat converter that remits proceeds to global bank accounts in near-instant time.
This real-world application has its sights on the $700 billion remittance market with a fee of between 5% and 7% and a transfer time of several business days. Remittix is looking to cut these costs by a substantial amount and make near-instant transfers with a simple interface.
Imagine, for instance, a healthcare worker in the Philippines making a gig wage from European clinics. Outdated solutions would have significant currency exchange and wire fees cutting into the worker’s wage.
Remittix’s crypto-to-fiat platform halves fees and wait times and deposits local currency into a Philippine bank in a matter of a few minutes. This material advantage is especially relevant in areas where 60% or more of adults have incomplete access to a bank, making Remittix’s huge potential for uptake.
By focusing on pragmatic finance solutions rather than hype-filled narrative, the project has been a surprise over-performer that has had many call it “Next XRP” due to its ability to disrupt an old-world finance market.
Analysts say that if Remittix manages to grab a small percentage of the $190 trillion cross-border payments market, its worth could be more than anticipated. The platform’s Ethereum-based infrastructure is also scalable with sweeping DeFi protocols on a large scale, fueling speculation on fresh features such as automated staking or yield-maximizing tactics.
Unlike VET or POL, Remittix is not rooted in pilot schemes or solutions for scale. Rather, it is delivering a direct utility to firms and consumers entangled in legacy banking protocols—a model that strikes a chord with market participants eager for relevance in real life.
Positioning Remittix As The ‘Next XRP’
Investors are distancing themselves from once-favored tokens like VeChain (VET) and Polygon (POL), partly due to limited progress and fierce competition. While VET brims with potential in supply-chain optimization, mainstream usage remains elusive.
By offering near-instant, cost-effective remittances, Remittix distinguishes itself from platforms that cling to future updates or partial implementations. Early adopters have dubbed it a “Next XRP,” referring to the original cross-border payment disruptor that once rallied on the promise of global liquidity.
With over $13.7 million raised in presale, Remittix may well surpass fleeting hype to evolve into a crypto mainstay for everyday finance. Ultimately, the question is not just which token can rally on social media but which can solve persistent financial obstacles in a direct, user-friendly manner.
Join the Remittix (RTX) presale and community:
Join the Remittix (RTX) Community
