The kind of momentum that has been recorded in the bitcoin price in the past two weeks can serve as a basis for what is possible for the cryptocurrency. If it were to continue, then the possibility of BTC reaching $30,000 over the next two weeks grows exponentially.
According to CoinMarketCap, Cardano (ADA) is n in the green for the day so far. The Ethereum-killer is currently trading at $0.3204 after a 0.37% increase in price over the last 24 hours. The crypto is also in still up by about 0.94% over the last seven days.
As a blockchain, Polygon demonstrates exceptional performance in terms of both business and performance. In the last 30 days, Polygon's number of fees collected is up 185% to $3.37 million.
Chris Kline, CEO and co-founder of Bitcoin IRA told Blockworks that MATIC is more hyper-focused and specialized than other cryptocurrencies, which may have allowed it to protect itself during market fluctuations.
FTX’s disaster has caused the market to be filled with fear of uncertainty and doubt (FUD), and major cryptocurrencies related to Sam Bankman-Fried have suffered as a result, but Polygon (MATIC) and tokens backed by gold, have outperformed.
SOL was one of the most impacted tokens following the recent collapse of FTX and Alameda, however traders seem to have found an opportunity to buy the dip. Still, Friday’s gains have largely been wiped out, as news of FTX declaring bankruptcy emerged.
Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day.
fewer than 20% of Ethereum miners, or 200 terahash (TH), a measure of computing power, “were able to find a new home in crypto mining, while also suffering from a significant decrease in margins,” said Ethan Vera, chief operations officer at mining services company Luxor.
CEO of Kucoin Johnny Lyu also announced that Kucoin will be providing Proof of Reserves “in about one month.” He said Kucoin will be working with “authoritative auditing institutions” to make sure that the Proof of Funds accurately represents the assets on hand.
The wake of the FTX liquidity crisis, two major crypto exchanges have announced that they will provide Proof of Reserves, also known as Proof of Funds (PoF) within the next month.
Since news of FTX's liquidity issues broke on Tuesday morning, Solana has lost over half of its value—about 57%. Now key founders of the blockchain network are attempting to salvage fading enthusiasm around the space as the ecosystem suddenly finds itself embroiled in crisis.
According to the most recent update from the Chiliz network, the CHZ token and fan tokens will merge into a single blockchain as part of the transition to Chiliz Chain 2.0, a new and upgraded version of Chiliz Chain.