Let's use Bitcoin as an example, but please feel free to use any truly immutable decentralized coin or token in its place for what I am about to type here, because for one reason or another, a lot of you must have forgotten this, or just never knew it to begin with. If you purchased…
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MATIC’s price fails to hold amidst market turmoil as the price falls back to its key support zone with a range-bound movement. MATIC’s price continues to show strength after a bearish downtrend with the market’s current state, as things look uncertain for most traders and investors. MATIC’s price continues to hold $0.75 on the daily timeframes as the price aims for a bounce above the 50 Exponential Moving Average (EMA) The price of Polygon (MATIC) has been a standout performer in recent weeks rallying from a low of $0.85 to a high of $1.3 before facing rejection due to the current market state that has affected most crypto projects. The crypto market has seen some drastic shift in sentiment, with Polygon (MATIC) and the price of other altcoins battling for survival after the news broke that Binance would not be taking over FTX and the company had gone bankrupt. Previous months saw the price of most altcoins trend higher as many produced gains of over 200%, with many hoping for more recovery bounce. Still, these expectations were cut short by the uncertainty surrounding the crypto market, leading to much fear about where the market is headed. (Data from Binance) Related Reading: KuCoin Token (KCS) Loses 12% Amidst Top Coins Bleeding Polygon (MATIC) Price Analysis On The Weekly Chart The crypto space has seen a lot of turbulence in the last few days, with many altcoins struggling to show strength after losing key support that was holding off price declines. The current market uncertainty has caused traders and investors to be hesitant to purchase altcoins, as there is no guarantee that they will rise in value any time soon. The news of other exchanges being in the mix of the FTX saga has raised more fears as many investors and traders shy away from investing in some projects; this can not be said of MATIC, as many investors and traders continue to show so much interest in this project. MATIC’s price declined to a weekly low of $0.77 before bouncing off this region, showing some great strength to a region of $0.97 as the price aims to break higher. The price of MATIC needs to be above $0.75 to avoid going to a lower region. Weekly resistance for the price of MATIC – $1. Weekly support for the price of MATIC – $0.75. Price Analysis Of MATIC On The Daily (1D) Chart The price of MATIC remains considerably strong in the daily timeframe as the price trades above $0.8 support after bouncing off from the region of $0.95. If the price of MATIC breaks above $1, we could see more rallies for MATIC price; a break below a region of $0.75 would lead to more sell-offs for MATIC with a possibility of price trending to a region of $0.6. Daily resistance for the MATIC price – $1. Daily support for the MATIC price – $0.75. Related Reading: Shiba Inu (SHIB) Ranks No. 1 In Top 5,000 ETH Whales’ Crypto Holdings Featured Image From zipmex, Charts From Tradingview
As the title says, this morning I tried to bridge some USDC from Polygon to Mainnet using Hop Protocol. However, looking at my metamask, my USDC are still present on the Polygon network and they did not arrive to Mainnet. Wallet address: 0x22571a92559edda4c172bfa2ba5653f75e476af9 Tx Hash: 0x43ea7201982262f004706e830d83b173db22cfb39bf8a4d52fcbd21b57f7555d Does anyone know if the bridge failed or something…
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The FTX crisis has escalated into a legal battle between bankrupt crypto exchanges and firms whose assets are stuck on its platform. Before FTX froze assets withdrawal, many crypto firms couldn’t recover their funds from the exchange. As a result, many firms have announced a potential financial crisis if their funds remain unrecovered. Several Users are in a panic due to their funds. However, the latest report revealed that Cherokee Acquisition, a distressed asset investment firm, has given users options to sell their credit claims. But the users can only recover a fraction of their total assets holdings. Related Reading: This Indicator Hints US Investors Sold Bitcoin Harder Than Others During Crash Cherokee Acquisition has a marketplace for credit claims against bankrupt companies like FTX Exchange. The firm placed a guide price on a dollar of FTX user’s deposit claims above $100,000 in the new price table released on November 15. The guide price is between 8 to 12 cents on every dollar of the deposit claims. This is an option for FTX’s creditors who cannot wait till the full resolution of the bankruptcy proceedings to recover their assets. Low Price indicates A Low Probability Of Retrieving User Credit Claims When a firm files for Chapter 11 bankruptcy protection, impatient creditors may sell their credit claims to distressed asset investment companies like Cherokee Acquisition. The distressed assets investment funds place value on the credit claims so that while the creditors can recover parts of their assets, they too can make a profit after redeeming the allegations. However, Cherokee Acquisition’s guide price for the FTX credit claims is relatively low compared to what other bankrupt companies’ users may get. It suggests an almost zero probability for users to retrieve their funds. Celsius Network’s Earn account holders may receive about 20 cents on a dollar after selling their claims. Voyager Digital’s creditors may also get 40 cents on a dollar for their credit claims. Thomas Braziel, the managing partner at 507 Capital, a distressed corporate specialist firm, commented on the meager price tag of FTX’s credit claims. However, he said the price might be too high for potential buyers. According to Braziel, no one is buying the FTX credit claims at that price. Braziel highlighted that the best market price for the deposit claims to be between 3 and 5 cents. The FTX Crisis, How It Started, And How It’s Going FTX is a conglomerate of over 130 firms that filed for bankruptcy on Friday. The FTX issue began after the firm’s use of customers’ deposits for investing and lending without their approval came to light. The firm’s balance sheet also found a deficit of $10 billion. As a result, FTX went bankrupt with funds from large firms, such as Genesis Trading, Galois Capital, and Ikigai Asset Management, stuck on its platform. Related Reading: When will Ripple reach the bottom? XRP price drops to $0.35; these tokens might be worth more in 2023 Users created improvisatory Telegram chat groups to sell their stuck deposits one week after FTX suspended withdrawal. Meanwhile, FTT has declined 10.08% more in the last 24 hours and is now trading at $1.57. Featured image from Pixabay, chart from TradingView.com
One year ago I staked my Ethereum as ETH2 on Coinbase. Since then I’ve made 5%. Not bad I suppose. However, with everything going on I want to put it on my ledger for safe keeping. After looking into it though I don’t know what to do… For simplicity sake let’s say I staked exactly…
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Back was one of the few people cited in the original Bitcoin whitepaper.
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