Category: Cryptocurrency News

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I have been reading up on API3 and if I am not mistaken one of their distinguishing features that sets it apart from Chain.Link is the idea of 1st party oracles. Which I understand to mean the owner of the data, originate the data themselves unto the blockchain. My question is, who verifies such 1st…
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The current state of MATIC and Polygon’s crypto ecosystem ranks among the worst. It took a toll on In the wake of FTX’s demise, the industry-wide contagion has impacted other projects, Polygon among them. Despite this, Polygon is in the top three DeFi companies in terms of revenue. However, Polygon and its native coin is seen to continue to bear the brunt of the pains from the collapse of FTX. Can MATIC truly rally now, as it falls to its support at $0.82 despite its social dominance? Related Reading: Bitcoin Cash On Downward Motion Since Breaching $105 Level – Here’s Why For MATIC, It’s A Narrow Market At the moment, MATIC is trading at $0.861, with a fairly narrow green candle. Indicator BB shows a point of maximum pressure at around the same price. Coupled with the bearish formation of a descending triangle, this spells doom for MATIC over the following days. Past results show that the token has also had trouble gaining traction. Available data on CoinGecko shows that MATIC is currently experiencing a losing run across all timeframes, with the monthly timeframe being the only exception, posting a gain of 2%. Image: TradingView According to CoinMarketCap’s on-chain research engine, the majority of MATIC holders are now in the red, with over 66% of the coins held in that spot.  These are all bearish indications that the situation may deteriorate. Given that Polygon is an L2 for Ethereum, it is not surprising that MATIC and ETH have strong connections. Currently, the correlation coefficient between the two is 0.75. This indicates that the price movements of the two strongly correlate with one another. Investors and traders should monitor this signal, as any significant price change in ETH could aid Polygon’s comeback. Overall, though, investors and traders should anticipate MATIC to surpass $0.851 Bulls should seek support at $0.772. Bearish Breakout Expected  Similar to what was stated previously, MATIC’s strong correlation with ETH can be a significant challenge for support but a significant boost for an uptrend. Despite Polygon’s social dominance, the loss of market confidence will surely cause the price of MATIC to decline. A short position at or below the current market price will mitigate the bearish market action. With the Bollinger band indicating a significant MATIC price decline, we can anticipate a bearish breakout in the next days. As that day approaches, MATIC bulls can only pray for a miracle in order for a recovery to occur. Related Reading: Litecoin (LTC) Up 8% In Last 24 Hours, The Biggest Gainer Out Of Top 20 Cryptos MATIC total market cap at $7.5 billion on the weekend chart | Featured image from Daily Hodl, Chart: TradingView.com

FTX isn't close to what crypto is about, crypto is meant to be decentralized so that we don't need to trust greedy f—ers. Cuban is a longtime cryptocurrency investor. Over the years, he’s invested in Ethereum and other various digital coins, NFTs and many blockchain companies. In fact, “80% of the investments that I make…
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Crypto exchanges are actively releasing proof-of-reserves audits in order to build transparency but experts believe it would take more than that to regain investor trust.

Three high-ranking executives of failed cryptocurrency exchange FTX have reportedly been dismissed. Among them is one of the co-founders of what was one of the industry’s largest trading platforms, which is currently in bankruptcy proceedings in the U.S. court system. 3 Members of FTX Management Lose Their Jobs, Spokesperson Quoted Troubled cryptocurrency exchange FTX has […]

Soulbound tokens (SBTs) refer to digital identity tokens that represent the characteristics or reputation of a person or entity.

Ethereum was once again nearing a breakout of its $1,200 level, as bearish sentiment returned to start the weekend. Following price rebounds on Friday, cryptocurrency markets were back in the red, and are trading 0.68% lower as of writing. Bitcoin also slipped in today’s session. Bitcoin Bitcoin (BTC) was once again trading lower to start […]

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