Category: Cryptocurrency News

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Popular Ethereum layer-2 token MATIC has surged over 17% in the last 24 hours, leading the crypto market in gains. Its price jumped from the previous day’s low of $0.815 to a local high of above $1. However, the price succeeded in breaking through the $1 barrier, settling at $1.13 at press time. MATIC’s price had fallen for five days in a row beginning on October 29th. However, it has recently seen a remarkable uptick due to several positive developments. Meta’s recent announcement about supporting NFTs on Instagram leveraging Polygon was the main catalyst. The social media platform’s newest Web3 integration comes amid fierce competition from TikTok and Alphabet’s YouTube. Related Reading: Lightning Speed: Accelerators And Incubators Focus Their Sights On Bitcoin Meta Starts Testing Instagram NFT Sales Powered By Polygon Instagram owner Meta announced plans to mint, display, and sell Polygon-powered digital collections and NFTs on the platform. This should provide artists with a fresh approach to interacting with and profiting from their fan bases. According to Meta, the photo-sharing app’s latest features will be tested by a handful of US creators. The goal is to reach more people in more nations as quickly as possible. Instagram intends to incorporate a whole end-to-end toolbox that can be utilized throughout the process. This would cover NFT production to NFT display and sales on and off social media. In May 2022, Meta (then known as Facebook) began testing the service, and by the end of September, it had expanded to 100 nations. This allowed Facebook and Instagram users in the United States to connect their wallets and share their digital collections on platforms. Users can automatically tag makers and collectors without incurring network expenses. For artists, NFTs offer a way to convert their social capital into monetary reward. This way, fans may appreciate artists by collecting and curating digital art collections. Polygon noted that 50 million individuals worldwide consider themselves to be online producers. They also highlighted that NFTs enable these people to own their digital works published online. Polygon’s co-founder Sandeep Nailwal hailed the agreement as a major milestone on the road to bringing one billion people to web3. Can MATIC Leverage Meta’s Deal To Sustain The Rally? Following Meta’s Instagram post that it will support Polygon NFT, MATIC investors woke up to a 12% gain. Last week, MATIC’s price surged beyond $0.88, which is now acting as support. Since then, the price of MATIC has risen past $0.95. Since October 29th, the cryptocurrency has provided enormous returns for its holders. Analyst and crypto trader Avramis predicts that MATIC’s price will rise to $1.25 this November. Many market watchers see this as confirmation that MATIC’s recent positive trend reversal will persist. Related Reading: Shiba Inu Struggle Continues As Altcoins Rally With Over 70% Gain; Here Is Why However, not everyone is bullish about Polygon’s price trend; some see a potential correction phase ahead. A decline to the $0.88 level would prove bears’ dominance and discredit the bullish thesis. If bulls cannot maintain their pace, the MATIC price might fall below the $0.72 level. Featured image from Pixabay and chart from TradingView.com

MATIC rallies with high volume as price breaks above $1 after a while as bulls eyes $1.3.  MATIC’s price, both on chart and on-chain, shows how it has had a fair share of the bear market and would continue to bloom. DOGE’s price remains strong on the daily timeframes as the price trades above the 50 and 200 Exponential Moving Averages (EMA). Polygon (MATIC) price recently showed some great price action as the price rallied to a high of $1 and broke past this region that has proven to be a difficult nut to crack in recent times for Polygon (MATIC) price. The crypto market has enjoyed a bit of relief across all assets, with Bitcoin (BTC) showing great traction, rallying and dragging the market. Polygon’s (MATIC) rally and strength have proven otherwise, one of the projects many traders and investors are keen on accumulating. (Data from Binance) Related Reading: Dogecoin Slides To Support Of $0.11; These Indicators Point To Bearish Weakness Polygon (MATIC) Price Analysis On The Weekly Chart The past week has seen many altcoins continue to produce over 200% gains over the past 7 days of breaking out of their range-bound movement, as many believe more hope could be settling into the crypto space once more.  The new week has looked a bit skeptical, but things are beginning to shape up and looking more promising for some altcoins, like BAND, rallying over 100% in less than 24 hours, showing the price action and volume for buy orders. The price of MATIC hasn’t lagged either, as it aims to rally higher, holding off sell orders at a region of $0.85. After dropping from its high of $3 some months back, the price of MATIC has had a great struggle to pull off a rally that has left many in euphoria, drawing the attention it had from investors, traders, and partnership deals.  The price of MATIC saw its trade at a low of $0.35 on the weekly chart; the price swiftly bounced from this region as the price rebounded to a region of $1, where it was rejected to a region of $0.77. Still, the price bounced from here after forming strong support to a region of $0.95 as the price aims to rally past $1.3 Weekly resistance for the price of MATIC – $1.3. Weekly support for the price of MATIC – $0.85. Price Analysis Of MATIC On The Daily (1D) Chart In the daily timeframe, the price of MATIC continues to look strong as the price broke out of its range price movement to a high of $1 as the price aims for a rally to a daily high of $1.3 where the price could face a major resistance to break higher.  The price of MATIC trades at $1.12 above the 50 and 200 EMA, which indicates a good relief sign for MATIC’s price on the daily timeframe. The price of $0.9 and $0.85 corresponds to the values of the EMAs acting as support for prices.  Daily resistance for the MATIC price – $1.3. Daily support for the MATIC price – $0.9-$0.85. Onchain Analysis Of MATIC The MATIC price from the on-chain analysis looks more decent despite a fall of over 60%. MATIC has seen constant price growth over 3 months and producing a reasonable return on investment (ROI) for assets held.  Related Reading: Litecoin Price Soars After DOGE Marks Historic Growth Featured Image From zipmex, Charts From Tradingview and Messari

Ethereum remained well bid above the $1,500 level against the US Dollar. ETH is rising and might soon clear the $1,600 resistance zone. Ethereum tested the $1,500 support zone and started a steady increase. The price is now trading above $1,560 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $1,560 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise steadily if it clears the $1,600 and $1,620 resistance levels. Ethereum Price Gains Pace Ethereum remained well bid after it tested the $1,500 support zone. ETH traded as low as $1,501 before it formed a base for a fresh increase. The bulls were able to push the price above the $1,540 and $1,550 resistance levels. There was a clear move above the 50% Fib retracement level of the downward move from the $1,620 swing high to $1,501 low. There was also a break above a crucial bearish trend line with resistance near $1,560 on the hourly chart of ETH/USD. Ether price is now trading above $1,560 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,590 level. It is close to the 76.4% Fib retracement level of the downward move from the $1,620 swing high to $1,501 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,600 level. A clear break above the $1,600 resistance could set the pace for a decent increase. In the stated case, the price could rise to the $1,650 level. Any more gains might send the price toward the $1,700 resistance zone. Fresh Decline in ETH? If ethereum fails to climb above the $1,600 resistance, it could start another decline. An initial support on the downside is near the $1,560 level and the 100 hourly simple moving average. The first major support is near the $1,540 level, below which ether price may perhaps decline towards the key $1,500 support zone. A downside break below the $1,500 zone might set the pace for a larger increase. In the stated scenario, the price could decline towards the $1,400 support zone in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $1,560 Major Resistance Level – $1,600

First off, thank you r/cc for having us today! We started AESIR in March 2021 after the 7 of us connected on this sub and have just released our application in Open Beta. The company was bootstrapped by the 7 of us, which has given us the freedom to build the platform just how we…
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Blocto, a multichain wallet has announced the launch of a $3 million Aptos Ecosystem Fund whose objective is to help onboard new users to Aptos. Besides financially supporting projects, the Aptos fund will be used to back standout projects when they get to the “user acquisition phase.” Access to Aptos’ in-House and External Investor Base […]

Mint your gobber now! ​ Experimental Decentralized Art Factory ​ By Justin Roiland and Paradigm ​ Minting now live and free- https://artgobblers.com Follow us on Twitter ​ https://preview.redd.it/qtlz9p864wx91.jpg?width=1600&format=pjpg&auto=webp&s=47a6afc03a69079224af08d1f8c86fc0ce81179d submitted by /u/mercifulpanther_69 [link] [comments]

As we all know, Michael Saylor and his company Microstrategy have been all in on Bitcoin for a number of years. Rather famously Saylor once said, "THERE IS NO SECOND BEST" when asked about altcoins. Instead, he advised, "Use all of your money to buy bitcoin and use all of your time learning how to…
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Digital asset manager Bakkt Holdings, Inc., announced on Thursday that the company has acquired the firm Apex Crypto from Apex Fintech Solutions. Bakkt detailed that the acquisition of the turnkey crypto platform aims to “bolster Bakkt’s cryptocurrency product offering and expand its footprint into additional client verticals.” Bakkt to Expand Client Verticals With Different Offerings […]

There are still pockets of hope, however, with some companies looking to expand despite the market conditions.