Following a move towards $32,000 to start the week, BTC was fighting to stay above $29,000 during Tuesday’s session. The red wave which captured bitcoin bulls, also overcame ETH, pushing prices nearly 8% lower, as of writing. Bitcoin Following a strong start to the week, bitcoin was once again trading lower, as prices dropped below […]
The recent trend for Polygon (MATIC) has followed a negative pattern, raising more concern within the industry. Within the midst of the 2022 extended cryptocurrency market correction, MATIC has a consistent bearish overview. From its value of $2.92 on December 27, 2021, the token has fallen by over 60%. Volatility remains one of the significant characteristics of cryptocurrency that has generated mixed opinions within the virtual space. It creates the basis on which the profitability of the assets stands. Also, it could form the foundation for the collapse of a previously growing project despite its record. With the overturn of activities, the Polygon network would depend on new motivating development to revive its downtrend. So, it has launched its NFT Minter new version that allows users to create NFTs using customizable functionalities. Also, this NFT execution comes with no gas fees for all customers. The network-integrated several functionalities within the Minter, such as using ERC-1155 and ERC-721 standards, regular NFTs, and Soulbound. Also, Polygon’s team is concluding its plan for the release of a wholesome minting API. In addition, it has the Unity SDK integration launch and the expansion of batch support. Related Reading | Bitcoin Dominates Derivatives Market To End May On A High Note Polygon is trying to pry further with the crypto space with its move. More people regard the option of mining with gas fees to be very appealing both for intending users and existing coin holders. The evidence comes with the increased investment in MATIC from ETH wallet holders. The Polygon network has experienced an increase in its customer base through the elaborate gaming and NFT adoption. It recorded up to 45.5 increase in its NFT marketplace – OpenSea in 2021. But the present outturn in 2022 shows a different storyline for the project. Hope For Polygon To Recover Previous Losses From the Dune Analytics record, you can make a comparison for ETH wallets with MATIC tokens as of June 1 and May 1. The former shows a significant peak than those from the latter. A minimum of 35,309 ETH wallets now have over 1,000 MATIC coins. Also, a minimum of 134,078 ETH wallets hold more than 100 MATIC coins. Another significant positivity is through its Proof-of-Stake (PoS), the top Ethereum commit chain. The Polygon PoS Chain records a rise in its total number of unique addresses. By using this Chain, customers could do a lot of activities like token swapping, market predictions, playing games, and others. The Chain made a single-day addition of more than 2.5 million new addresses in September 2021. Since then, there has been a progressive increase in Polygon’s unique addresses. Related Reading | Institutional Investors Turn To Competitors As Ethereum Tumbles Through the bearish trend of Polygon, about 98% of its users might have suffered some losses. However, they still believe in the viability of the project. It’s of interest to note the number of unique addresses on a network is not equivalent to its users. Some users create multiple addresses to suit their preferences. Presently, Polygon has gone through a new 1% correction, bringing the price of MATIC to $0.62 at the time of writing. Featured image from Pexels, chart from TradingView.com
I was reading the recent announcement about the next exciting milestone of ETH2.0 and TheMerge: Ropsten Merge Announcement Then I read this paragraph: Given these circumstances, the Ropsten network, which is intended to be deprecated after The Merge, will run through the upgrade earlier in the development process than previous network upgrades. This will give…
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FTX CEO Sam Bankman-Fried explained that the exchange will continue to “keep growing” during the bear market.
The crypto crash can be unnerving, but the crypto community sustains its bullish position for the Ethereum (ETH) price by June 30, 2002. They are projecting it to soar by 78% at the end of the month. The CoinMarketCap community has predicted ETH will trade at $3,140 at the end of the month. This latest project has accumulated over 15,362 votes and an accuracy record hitting 65%. Hence, when you compare the current value of ETH, which is at $1,758, to the projected value of the crypto community, an increment of $1,382, or equivalent to 78.59%, is apparent. Suggested Reading | Bitcoin Records 1st Weekly Green Candle In 3 Months – A Start Of A Bull Run? On the flip side, over 8,442 crypto community members had a lower target for ETH, with a trading value hovering at $2,982 by June 30, which projects a spike of $1,224.6 or roughly 69.66% in comparison to its current price. ETH Shifting From PoW to PoS Ethereum has been gaining momentum in terms of investor interest and trading value. The shift of Ethereum from proof-of-work to a proof-of-stake mechanism may be at play. The transition mapped out for ETH is bound to improve its speed, scalability, performance, and efficiency. With the proof-of-stake mechanism, stakers are responsible for validating each transaction. Staking would be equivocal to a deposit of 32 ETH that will activate the validator software. With the transition to PoS, users get to save from gas fees, which is one weakness of the PoW mechanism with its high gas fees. In addition, it also has a reduced carbon footprint. On the other hand, ETH blockchain dominance is weakening because of other NFTs moving to other blockchains with lower fees. But, it’s important to note that even though Solana is coming on strong for this quarter, ETH remains on top of the food chain as of this writing. ETH total market cap at $211 billion on the daily chart | Source: TradingView.com Bitcoin Pulling ETH By 5% While ETH has been in a depressive state in 2022, it’s gaining traction and has surpassed the $1.8k mark, and is shooting next for $2k. However, the surge may be related to ETH’s dependence on Bitcoin as the top cryptocurrency has also had an upward trend of 5%. ETH balances on different crypto platforms have also moved up by 550,459 ETH since May, or roughly $950 million in the total value of inflows into crypto exchanges. ETH’s correction may be the result of these factors at play. But, it’s mission-critical to always focus on the long game. Suggested Reading | Ethereum Loses $1800 Handle – Will Bear Market Pull ETH Down Deeper? Featured image from TIME, chart from TradingView.com
So i have been wondering is there any way to mine on ropsten testnet cause i need some thousands eth on it for testing purpose. submitted by /u/iamshubh69 [link] [comments]
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With the introduction of platforms like Solana, buyers may now purchase NFTs for a low transaction charge and with minimal congestion.
submitted by /u/XnoonefromnowhereX [link] [comments]
The Cronos Accelerator Program is backed by $100 million to help crypto projects in seed-pre-seed stages seeking mentorship, funding and growth.
