Despite slumping in global crytocurrency markets, Bitcoin has jumped to new highs in Argentina after BTC-friendly presidential candidate Javier Milei won the primary vote on Aug. 13.
For Moons to be seen as a good crypto investment, or even a meme or moonshot, it needs to be introduced to a wider audience outside of Reddit. This is why I am very pleased to see some of the best crypto news sites covering recent MOON news. The popular sites, CoinDesk and Decrypt, have…
Read more
submitted by /u/Monster_Chief17 [link] [comments]
submitted by /u/kamhow0123 [link] [comments]
The Polygon (MATIC) price continues to fall. Even the recent positive news from Korea and the strong data from the NFT market cannot change this. Since the yearly high on February 13 at $1.56, the MATIC price has currently fallen 60% and is trading at just $0.6169. Since the high, MATIC has been in a clear downtrend, which was last tested in mid-July. However, a breakout was not successful, both the trendline and the coinciding 200-day EMA have proven to be too strong a resistance. Now MATIC has also fallen below the 23.6% Fibonacci retracement level at $0.75. If the support at $0.60 (in shorter time frames) now also falls, a plunge towards the yearly low at $0.50 could be imminent. However, if the level establishes itself as support in the next few days, a new attempt to break out of the downtrend could start. Related Reading: When Will Polygon (MATIC) Rebound? Analyzing This Month’s Recovery Potential For this, MATIC would currently have to rise above $0.71. However, validation of the breakout from the downtrend would have to come from the 23.6% Fibonacci retracement level. Only if MATIC rises above $0.75 the bulls might regain the upper hand. Then, the 200-day EMA at $0.84 would be the next major task that MATIC bulls have to master. Until then, MATIC seems poised for further downside. Even Positive News Can’t Move Polygon Price It is a bad omen for the MATIC bulls that even positive news cannot move the price. In the last two days Polygon has been able to report no less than two positive news. Today, Polygon Labs has inked a strategic alliance with SK Telecom (NYSE:SKM), South Korea’s foremost mobile telecom operator. This collaboration is geared towards the expansion of SKT’s Web3 ecosystem, positioning the telecom behemoth at the forefront of the burgeoning decentralized tech sector. Polygon’s CEO, Marc Boiron, elucidated the intent behind the partnership, stating, “Polygon Labs has been developing optimal blockchain technology for Web3 popularization, and we see this collaboration with SKT as an important step in providing Web3 experiences to more consumers.” Central to this synergy is the integration of the Polygon blockchain within SKT’s NFT marketplace, TopPort, as well as its forthcoming Web3 wallet, set for launch in 2023. The wallet promises to offer users high-speed, cost-effective transactions, augmented by Ethereum’s intrinsic security and decentralization features. Given the widespread utilization of Polygon-based solutions by global brands, this integration is likely to enhance SKT’s Web3 offerings considerably. Related Reading: Polygon Warning Signs Point To Slide In MATIC Price On Support Breakdown Both entities will be actively scouring for promising Web3 startups to nurture and support. “By combining our experience in blockchain services and Polygon Lab’s blockchain infrastructure and ecosystem, we will be able to create valuable business opportunities and boost the Web3 ecosystem,” voiced Oh Se-hyun, Vice President and Head of Web3 CO at SKT. Moreover, Polygon’s NFT ecosystem clinched the second spot in traded volume over a month-long period, as highlighted by Polygon Labs founder Sandeep Nailwal. Interestingly, this surge can be attributed not just to high-value transactions but a flurry of micro-transactions, indicating Polygon’s accessibility and widespread use. By number of transactions, Polygon is 3x of Ethereum mainchain, that means there is a lot of micro transactions happening. The amount of “buyers” on Polygon also is 30% higher than the mainchain. This trend clearly solidifies Polygon’s burgeoning position in the decentralized tech sector. Featured image from ZipMex, chart from TradingView.com
I'm interested in when will we be able to deposit staked ETH again. I don't fully get the explanation in the blog in terms of the 10 day period. Can someone explain? Thanks! submitted by /u/BusinessBreakfast3 [link] [comments]
Explore five critical smart contract vulnerabilities that pose risks to blockchain systems. Learn how to spot and neutralize these threats for secure and resilient DApps.
Scammers are getting more and more creative on how to get to your crypto. Even if you know all about security and are cautious on which contracts you sign, lets be honest, you can be careless one time or if you are in a hurry and you make a mistake and allow scammers to access…
Read more
Cardano is currently facing a stark contrast between its promising development trajectory and the significant losses incurred by ADA holders. Recent price analysis has revealed that the losses are nearing an astonishing 90%, sending waves of concern through the cryptocurrency community. The once-active addresses have dwindled, further accentuating the unease surrounding ADA’s price trend. Related Reading: Chiliz (CHZ) Empowers Smart Contracts With Upgrades – Positive Impact On Price? In an accompanying chart in the analysis that lays bare the current situation, it becomes evident that nearly 4 million ADA addresses find themselves in the unfortunate position of holding the cryptocurrency at a loss. This staggering figure represents approximately 89.7% of all ADA holders at the time of this report. This unsettling statistic raises pertinent questions about the reasons behind this mass erosion of value, shedding light on potential market dynamics and investor sentiment. Source: IntoTheBlock Cardano Unique Funding Approach Cardano has consistently been a pioneer in revolutionizing the blockchain landscape, consistently introducing groundbreaking developments. One such innovation is their novel approach to funding decentralized applications (dApps) – a departure from the traditional reliance on venture capital or initial coin offerings. Related Reading: Dogecoin Looming Plunge: Factors Point Toward An Imminent Significant Decline Cardano’s introduction of undercollateralized loans introduces a fresh paradigm that could reshape the way blockchain projects are financed and sustained, offering a glimpse into the future of decentralized funding models. ADA’s Fluctuating Value Despite the advancements, ADA’s recent price performance has sparked concerns. With a current value of $0.274 according to CoinGecko, the cryptocurrency has experienced a decline of 1.2% in the last 24 hours alone. A more prolonged seven-day slump paints a bleaker picture, with a decline of nearly 8%. ADA price action today. Source: Coingecko Navigating ADA’s Future As Cardano’s development trajectory continues to impress with its forward-looking innovations, the prevailing challenges in ADA’s price trend and holder losses should not be underestimated. The decline in active addresses further compounds the existing worries, potentially signaling shifts in user engagement and interest. ADA hits a market cap of $9.6 billion today. Chart: TradingView.com While the undercollateralized loan approach holds promise for the ecosystem’s future, addressing the concerns surrounding ADA’s price and holder losses remains a pressing task. Cardano’s journey as a trailblazer in the blockchain realm is accompanied by a complex tale of contrasting fortunes. The remarkable innovations it introduces stand as a testament to its commitment to reshaping the industry. However, the substantial losses incurred by ADA holders and the wavering price trend underscore the importance of addressing market dynamics, sentiment, and user engagement to ensure the longevity and stability of Cardano’s ecosystem. (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk). Featured image from TimeOut
