Category: Cryptocurrency News

After its bullish shindig seen last week, Polygon (MATIC) price is now going the opposite direction as it continues to plunge to $0.60. MATIC is seen to have plummeted by more than 20% in comparison to its peak high of $0.97 as seen in the past couple of days. The coin’s price has dropped below the support line of $.080 and shows no sign of a slowdown. The MATIC/USD has declined by 3.66% or at $0.74 as of this writing. CoinMarketCap is also showing a 10% slump in the 24-hour trading volume which is at $815,456. On the brighter side, the daily chart shows the MATIC price going for a bullish or Inverted Head & Shoulder formation. Related Reading | Polygon (MATIC) Looks Set For A Retracement After Recent Gains Current Technicals Bearish For MATIC The breach started on July 13 and registered a peak high of $0.97 as seen on July 18. But, the bulls weren’t able to hold on to their gains and dropped miserably. The daily chart showing two red consecutive candlesticks implies that the bears will not go up anytime soon. Meanwhile, a breach below the $0.70 mark confirms MATIC’s dominance and that the next support is at the $0.60 mark. The current RSI is showing bearish momentum now at 50 or falls below the average line. More so, the MACD bullish indicator is also showing signs of a slowdown. On two separate hourly time frames, Polygon was caught to be heading for a bull run in the short term. The price was captured to be going towards the descending route. It also formed the Flag & Pole pattern which is bullish and has the support level held close at 50%. Once the current support at $0.7495 is breached, then a decline may be apparent at $0.6895. On the other hand, if buying pressure mounts from the lower level, a surge that shoots towards the $0.8155 and $0.905 levels can be expected. MATIC total market cap at $6.5 billion on the daily chart | Source: TradingView.com Polygon Rolls Out ZKEVM Polygon is popular for its remarkable improvements in terms of speed and affordability. Its efforts have been in tune with scaling ETH since the day of its launch. However, Polygon has faced enormous challenges such as when ZK rolled up its smart contracts which have restricted users as the contracts are said to be costly, incompatible, and sluggish. But, Polygon decided to improve and resolve issues with the rollout of ZKEVM. Polygon created ZKEVM to be compatible with ETH. Now, developers can build on ZKEVM similar to Ethereum. In effect, any ETH smart contact or tool which works well with Ethereum can work too with Polygon ZKEVM. With that in mind, the ETH network can be easily leveraged to take advantage of the enhanced speed and reduced costs. Related Reading | Solana Loses 17% Of Value As SOL Crawls Back From $35 Slide Featured image from The Daily Hodl, chart from TradingView.com

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This is about Algorand Inc, not to be confused with the Algorand Foundation. The Algorand Foundation operates independently from Algorand Inc. The Algorand Foundation is a not-for-profit, community organisation focused on protocol governance, token dynamics and supporting grassroots, open-source development on the Algorand ecosystem. Algorand Inc is focused on layer-1 development of the Algorand Protocol…
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The current price of Bitcoin is about $21,450.00 which means you need 46,620 btc to be a bitcoin billionaire. How much money would you have needed to invest through out the past years to currently be a bitcoin billionaire. I used the price of bitcoin at the end of November for every year from 2010…
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Bitcoin is poised to experience volatility during today’s trading session. The crypto market is gearing up for the U.S. Federal Reserve (Fed) Federal Open Market Committee (FOMC) meeting which could result in a no-event or push risk-on assets down. Related Reading | Shiba Inu Whales Trading Volume Surges 640% As SHIB Holds Critical Support During this meeting, the Fed is expected to announce a hike in interest rates. According to trading desk QCP Capital, the market has ruled out the possibility of a 100 basis points (bps) increase. Market participants expect a 75 bps, if the Fed meets expectations Bitcoin and other digital assets seem likely to resume their bullish momentum. QCP Capital said: Every FOMC meeting this year has seen a positive immediate market reaction to the rate decision. We expect the same for this one. In addition, the trading firm claims that there is a possibility of more upside based on the Fed adopting a “one-off 75 bps” hike. In the future, the financial institution could return to 50 bps on the back of a slow down in inflation metrics. Contributing to this theory, U.S. public companies earning season has reported under expectations without major surprises so far. Tomorrow, July 28th, Apple and other big tech companies are expected to publish their earnings reports. If there are no major surprises, the crypto market should benefit from both the FOMC meeting and a relief in legacy financial markets. On the latter, QCP Capital noted: With the risk of an overly hawkish fed out of the way and with inflation slowing down, we think that markets will remain supported with the previous lows providing a base (BTC at 17,600 and ETH at 880). The post-FOMC rally could be short-lived as Bitcoin and the crypto market continue to see high selling pressure from miners. In that sense, QCP Capital predicts sideways movement for the short to mid-term. What Could Trigger More Downside Pressure? The trading firm believes there is a wild card with the potential to negatively impact global markets. U.S. Representative for Congress and Speaker of the House Nancy Pelosi is apparently planning a visit to Taiwan. If the visit ever materializes, there could be an escalation in tensions between the U.S. and China. QCP Capital said: August tends to be quieter with the US and Europe on summer vacation. If tensions boil over, we might see a risk-off move in thin liquidity. From a volatility perspective, every FOMC this year has been a disappointment. Related Reading | TA: Bitcoin Price Consolidates, Why Recovery Could Be Capped At the time of writing, Bitcoin (BTC) trades at $21,400 with a 3% profit in the last 24 hours.

On Tuesday, the Christopher Wallace Estate, managers of the Notorious B.I.G.’s music, fashion, film, and unreleased archives, dropped a collection of 3,000 non-fungible tokens (NFTs) that sold out in ten minutes. The digital collectibles were dropped via the NFT platform Oneof, and owners of the new NFTs now have the licensing rights to the audio […]

COIN could tumble to $21 in the next few months amid Coinbase’s insider trading allegations and weak technicals.

Hi Reddit, just wanted to share a project I've been working on. It's called Privateparty: https://privateparty.dev It's like Facebook connect, but decentralized. Instead of using a centralized identity system like Facebook to log into an app, this framework lets you easily add blockchain wallet based authentication and authorization to any web app, effortlessly. And most…
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Hi y'all, I've been trying to learn as much as I can about sharding in Eth 2.0, I just realized that the space is moving so fast that the content I'm reading are already outdated. What is the best way to keep updated? Specifically, where are all the discussions on sharding happening? submitted by…
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