Larue Chetram OeyE
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Price of #Polygon (MATIC) recovering after the 8-month low. Time to invest? In the last 24 hours the entire cryptocurrency market seems to have changed direction, in some cases quite sharply. In the previous phase we witnessed a general decline, during which Polygon recorded a major decline that pushed it down to an 8-month low.
Now, however, it could be the time for a recovery of the entire sector, with several cryptocurrencies having recorded an opposite movement in the last few hours which could be a first step towards a bullish trend.
Among these we find Chainlink (#link ), Uniswap (#UNI ), Near Protocol (#near ) and also Polygon (#MATIC ), which have all recorded an increase of around 5% in the last 24 hours. In the case of Near, the recovery was particularly interesting, having exceeded 7%.
But as regards Polygon (MATIC), we note that the price has been decreasing since the beginning of March, and a real trend reversal has not yet occurred. What we are seeing in these hours, however, could herald the start of an important recovery phase. At the time of writing this post, the price of MATIC stands at around $0.571, therefore still below $0.60, having suffered a significant decline in recent days. Among other things, the token recently hit its 8-month low.
Currently, however, the forecasts are positive, in fact if we consider the price level of $0.53 as the next critical support, given that MATIC is currently trading around $0.57, both a rebound from this support and a continuous recovery could trigger an increase until reaching a consolidation range between $0.75 and $0.64.
The problem is that otherwise, i.e. if MATIC were to break the support, then a bearish scenario would open up which would see the Polygon token fall below the $0.50 price level, heavily compromising the thesis of the imminent rise.$MATIC
Now, however, it could be the time for a recovery of the entire sector, with several cryptocurrencies having recorded an opposite movement in the last few hours which could be a first step towards a bullish trend.
Among these we find Chainlink (#link ), Uniswap (#UNI ), Near Protocol (#near ) and also Polygon (#MATIC ), which have all recorded an increase of around 5% in the last 24 hours. In the case of Near, the recovery was particularly interesting, having exceeded 7%.
But as regards Polygon (MATIC), we note that the price has been decreasing since the beginning of March, and a real trend reversal has not yet occurred. What we are seeing in these hours, however, could herald the start of an important recovery phase. At the time of writing this post, the price of MATIC stands at around $0.571, therefore still below $0.60, having suffered a significant decline in recent days. Among other things, the token recently hit its 8-month low.
Currently, however, the forecasts are positive, in fact if we consider the price level of $0.53 as the next critical support, given that MATIC is currently trading around $0.57, both a rebound from this support and a continuous recovery could trigger an increase until reaching a consolidation range between $0.75 and $0.64.
The problem is that otherwise, i.e. if MATIC were to break the support, then a bearish scenario would open up which would see the Polygon token fall below the $0.50 price level, heavily compromising the thesis of the imminent rise.$MATIC
#POL #Polygon #MATIC✅ #MATIC #MATIC🔥🔥 MATIC's bearish week turns bullish? Analysts predict a surge to $4-5 🤔🚀 ❓️❔️Polygon was testing a critical support level of a bullish pattern, hinting at a massive bullish rally in the coming days.Polygon has been consolidating within the pattern since 2021 .investors could see a massive bullish rally. In fact, the rally could even push MATIC towards $4 or $5 in the coming months.
$MATIC What do you think??
$MATIC What do you think??
🗣 Doesn't Mica have anything to do with it 🫣😁🤔❗️
in Europe 🚫 STOP stablecoins ⁉️
#USDTdominance #stablecoin
Tether is entering new territory with the launch of Alloy (aUSDT), a gold-backed stablecoin pegged to the US dollar. According to Tether, Alloy will be overcollateralized by Tether Gold (XAUt), a token that represents ownership of physical gold, while being pegged to the US dollar. This arrangement makes Alloy a synthetic dollar, designed to emulate the value and functionality of the US dollar without direct backing. Tether's Alloy is an open platform that allows for the creation of diverse tied assets with broader backing mechanisms, potentially including yield products . This technology provides a modern approach to asset management for institutions too, offering a secure digital asset, backed by gold, that can be integrated into portfolios. Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, both licensed by the CNAD in El Salvador, will manage Tether's issuance and management of Alloy, meeting multiple customer segments and regulatory requirements.
“We are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tied to a fiat reference currency,” said Paolo Ardoino, CEO of Tether. “While the stabilization mechanism is different than traditional options like USD₮, this innovative solution marks a milestone and we are eager to understand how it will interact with the rest of the market. Additionally, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well.”#tether #Bitcoin #Binance
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in Europe 🚫 STOP stablecoins ⁉️
#USDTdominance #stablecoin
Tether is entering new territory with the launch of Alloy (aUSDT), a gold-backed stablecoin pegged to the US dollar. According to Tether, Alloy will be overcollateralized by Tether Gold (XAUt), a token that represents ownership of physical gold, while being pegged to the US dollar. This arrangement makes Alloy a synthetic dollar, designed to emulate the value and functionality of the US dollar without direct backing. Tether's Alloy is an open platform that allows for the creation of diverse tied assets with broader backing mechanisms, potentially including yield products . This technology provides a modern approach to asset management for institutions too, offering a secure digital asset, backed by gold, that can be integrated into portfolios. Moon Gold NA, SA de CV and Moon Gold El Salvador, SA de CV, both licensed by the CNAD in El Salvador, will manage Tether's issuance and management of Alloy, meeting multiple customer segments and regulatory requirements.
“We are thrilled to announce the launch of Alloy by Tether, introducing a class of digital assets backed by gold and tied to a fiat reference currency,” said Paolo Ardoino, CEO of Tether. “While the stabilization mechanism is different than traditional options like USD₮, this innovative solution marks a milestone and we are eager to understand how it will interact with the rest of the market. Additionally, we plan to make this innovative technology available in our upcoming digital asset tokenization platform as well.”#tether #Bitcoin #Binance
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$MATIC $SOL #AltCoinSeason #altcoins #altseason2024 #altseason #prediction Crypto analyst Mags predicts a significant breakout in the altcoin market that could trigger a “strong altcoin bull market.”
Mags based the prediction on a graphical structure of the altcoin market, which he divided into four sections: accumulation, first leg up, consolidation and bull market. Altcoins spent more than a year in the accumulation phase between the third quarter of 2022 and the third quarter of 2023.
Furthermore, Mags showed that the altcoin market began its first rally around October 2023, rallying in the first quarter of 2024 before entering the consolidation phase. He described the altcoin market structure as a “simple model,” adding that altcoin prices have consolidated in recent months.
Using a graphical representation, Mags predicted an impending bull market that is expected to significantly increase the market capitalization of altcoins.
He predicted that the altcoin market will rise from the current valuation of $1.055 trillion to around $4 trillion by mid-2025.
Meanwhile, Mags noted that Bitcoin is holding the midrange “well.” It used a graphical representation of BTC to show various zones of Bitcoin, including high range, low range, mid range, fake-out, recovery and retest. From Mags' analysis, Bitcoin is currently retesting the mid-range zone. It showed how holding this level could push the flagship cryptocurrency to rebound significantly.
According to the analyst's projection, a successful rebound would see BTC rise significantly, surpassing the current all-time high (ATH).
He also revealed that the predicted rally could happen in a few months, unlike the altcoin target he set at one year from the time of the analysis.
Mags based the prediction on a graphical structure of the altcoin market, which he divided into four sections: accumulation, first leg up, consolidation and bull market. Altcoins spent more than a year in the accumulation phase between the third quarter of 2022 and the third quarter of 2023.
Furthermore, Mags showed that the altcoin market began its first rally around October 2023, rallying in the first quarter of 2024 before entering the consolidation phase. He described the altcoin market structure as a “simple model,” adding that altcoin prices have consolidated in recent months.
Using a graphical representation, Mags predicted an impending bull market that is expected to significantly increase the market capitalization of altcoins.
He predicted that the altcoin market will rise from the current valuation of $1.055 trillion to around $4 trillion by mid-2025.
Meanwhile, Mags noted that Bitcoin is holding the midrange “well.” It used a graphical representation of BTC to show various zones of Bitcoin, including high range, low range, mid range, fake-out, recovery and retest. From Mags' analysis, Bitcoin is currently retesting the mid-range zone. It showed how holding this level could push the flagship cryptocurrency to rebound significantly.
According to the analyst's projection, a successful rebound would see BTC rise significantly, surpassing the current all-time high (ATH).
He also revealed that the predicted rally could happen in a few months, unlike the altcoin target he set at one year from the time of the analysis.
IMPORTANT DATA TO OBSERVE 🥸🤖🙈💯
Bitcoin and crypto are WAITING FOR THIS DATA: complete macro week calendar for all TRADERS Even if these are not the only factors capable of moving the markets, knowing at what time it will be necessary to prepare for possible movements can give you a big hand in positioning yourself in the right way.
Economic Week: the calendar of the most important events for Bitcoin and crypto
It will perhaps be a less busy week than the one behind us, but still with several important macro data that could move the Bitcoin and cryptocurrency markets.
Economic Week: the calendar of the most important events for Bitcoin and crypto
It will perhaps be a less busy week than the one behind us, but still with several important macro data that could move the Bitcoin and cryptocurrency markets.
#MATIC #Polygon #Layer2 #altcoins 🫣🧐 let's get ready, it's about to leave....? what do you think? will it reach its all-time high? an estimate of the price in high season? how much will it reach? The world of cryptocurrencies is extremely volatile, you can make money or lose a lot if you panic. I think that in the near future there will be fun 😅😝...let's hope for the best!! what do you think of matic..oops sorry polygon? 😅🤣 Pol... I don't know what to call him anymore!!!🤦♂️ I'm waiting for your feedback and thank you in advance for following me and liking me!!!! 🫡👍$MATIC
#MATIC #Polygon #DeFi #BTC
So far in 2024, few cryptocurrencies have underperformed at Polygon's level. As we approach the halfway point of the year, the token has failed to generate any notable momentum. In this regard, it is aligned with Ripple (XRP) as one of the most stagnant cryptocurrencies boasting immense potential to start the year. However, there is reason to believe that this could change. Indeed, Polygon (MATIC) has technical indicators informing potentially bullish sentiment, as it could target $0.8 in June. Specifically, the 100 EMA and the Ichimoku baseline support a possible rally in the asset.
April 9 represents the last time Polygon attempted to trade above the 100 EMA. This indicates bearish sentiment for the token, but is combined with assets entering the Ichimoku Cloud. Although the support at the lower limit of the potential is proving to be extremely resilient, its position inside suggests increasing volatility for MATIC in the near term. Now all eyes are on how the asset will perform in light of these technical developments. There is hope that a sustained run will begin in the summer months. However, it has not instilled confidence in investors, given its recent failures to generate significant momentum.🤔 What do you think? Is it time to invest?
So far in 2024, few cryptocurrencies have underperformed at Polygon's level. As we approach the halfway point of the year, the token has failed to generate any notable momentum. In this regard, it is aligned with Ripple (XRP) as one of the most stagnant cryptocurrencies boasting immense potential to start the year. However, there is reason to believe that this could change. Indeed, Polygon (MATIC) has technical indicators informing potentially bullish sentiment, as it could target $0.8 in June. Specifically, the 100 EMA and the Ichimoku baseline support a possible rally in the asset.
April 9 represents the last time Polygon attempted to trade above the 100 EMA. This indicates bearish sentiment for the token, but is combined with assets entering the Ichimoku Cloud. Although the support at the lower limit of the potential is proving to be extremely resilient, its position inside suggests increasing volatility for MATIC in the near term. Now all eyes are on how the asset will perform in light of these technical developments. There is hope that a sustained run will begin in the summer months. However, it has not instilled confidence in investors, given its recent failures to generate significant momentum.🤔 What do you think? Is it time to invest?
#Polygon #MATIC #newcrypto #trading #web3 $MATIC Polygon announced a $1 billion Community Grants Program, set to roll out over the next ten years, aimed at supporting developers on its platform. This initiative promises to allocate approximately $100 million per year to fund projects that improve Polygon and Ethereum.
The Community Treasury will release $1B over the next decade. The Treasury Committee will oversee the distribution of these funds, starting with 35 million MATIC for the inaugural season. This structured allocation is part of Polygon's strategic plan to cultivate a strong community-governed blockchain technology network.
With the community and developers Polygon aims to power pioneering projects that push the boundaries of decentralized technology. Eligibility for the grant depends on projects built on the platform or those willing to migrate.
Among the first beneficiaries of Polygon's funding are platforms like Quickswap and Intraverse, showing the potential for growth and innovation thanks to this financial support. The application process for the first season is open until August 31, 2024, with funds targeting a wide range of blockchain applications, from infrastructure to apps such as decentralized exchange (dex) platforms. Additionally, the grant program is designed to support projects at various stages of development, with the Community Treasury allocating funds on a monthly basis following in-depth reviews. While the initiative aims to foster innovation in the Polygon and Ethereum ecosystems, the effectiveness of distributing these funds (around $100 million per year) remains to be seen.
As the Community Treasury begins its allocations, the challenge will be to ensure these investments translate into tangible progress. Examining project selection and fund management will likely be critical in determining the program's success or shortfall.
The Community Treasury will release $1B over the next decade. The Treasury Committee will oversee the distribution of these funds, starting with 35 million MATIC for the inaugural season. This structured allocation is part of Polygon's strategic plan to cultivate a strong community-governed blockchain technology network.
With the community and developers Polygon aims to power pioneering projects that push the boundaries of decentralized technology. Eligibility for the grant depends on projects built on the platform or those willing to migrate.
Among the first beneficiaries of Polygon's funding are platforms like Quickswap and Intraverse, showing the potential for growth and innovation thanks to this financial support. The application process for the first season is open until August 31, 2024, with funds targeting a wide range of blockchain applications, from infrastructure to apps such as decentralized exchange (dex) platforms. Additionally, the grant program is designed to support projects at various stages of development, with the Community Treasury allocating funds on a monthly basis following in-depth reviews. While the initiative aims to foster innovation in the Polygon and Ethereum ecosystems, the effectiveness of distributing these funds (around $100 million per year) remains to be seen.
As the Community Treasury begins its allocations, the challenge will be to ensure these investments translate into tangible progress. Examining project selection and fund management will likely be critical in determining the program's success or shortfall.
Price forecast #Bitcoin 🧐🤔$BTC 🚀💸
The next step will be the break of $71,800???? What do you think about it? 🫣☝️☝️☝️
we have a support line at $69,000 I expect an accumulation phase, followed by
a push above $71,800.
The long-term analysis is absolutely bullish.❓️❓️❓️
#Binance #Etf #BTC #BTCUSDT
Target:
$71,200
$72,700
$73,879
The medium-term bullish target is $82,226
Thanks for leaving comments and following me
👋😁👍
The next step will be the break of $71,800???? What do you think about it? 🫣☝️☝️☝️
we have a support line at $69,000 I expect an accumulation phase, followed by
a push above $71,800.
The long-term analysis is absolutely bullish.❓️❓️❓️
#Binance #Etf #BTC #BTCUSDT
Target:
$71,200
$72,700
$73,879
The medium-term bullish target is $82,226
Thanks for leaving comments and following me
👋😁👍
☆🚀👉On the moon👈🚀☆
#altcoins #AltSeasonComing #MATIC #Polygon 🤑💸💯🤩💚☝️🚀$MATIC According to Polygon, the Polygon Miden Alpha Testnet v2 has been made available. It basically adds more storage, a more user-friendly command-line interface, and more functionality. Polygon Miden is a zk-VM rollup that allows users to showcase their state transitions. This provides the idea of self-sovereignty along with better throughput than the existing solutions.Some new features are public accounts & notes, a streamlined command line interface, SWAP notes, a note screener, increased data storage, and note refactorings.For starters, public accounts and notes allow developers to store account or note data with complete transparency. This resembles the idea of public smart contracts on the Ethereum network. It works well for applications where smart contracts depend on the public state. A streamlined CLI—command line interface—is convenient and simple. It further enhances the state of being informative, making interactions easier with the testnet.
SWAP notes represent simple atomic asset SWAPs. Users can create a note consisting of an asset and a price dominated by another asset. Note Screener makes sure that only relevant notes are stored locally. Increased data storage and note refactoring virtually increase the storage capacity to unlimited and help create notes without assets.
Moving forward, the community can expect to see upcoming steps implemented. These include a Rust compiler, a Typescript SDK, and clients’ ability to consume notes.
The community has started responding to this development on X. Most have congratulated the team for achieving this feat. Others have sought answers to how it increases revenue sources.That said, the effect on price is evident as well.MATIC is down by 0.54% in the last 24 hours and is listed at $0.7128 at the time of writing this article. However, it shows an increase of 4.78% over the previous 30 days and 2.46% for the last 7 days. The 24-hour trade volume has increased noticeably by 49.16%. Market capitalization is down by 0.55%.
Nevertheless, the near-term predictions for MATIC are optimistic. In the next five days, Polygon could be inching closer to $0.93552. This would set the stage for a jump to $0.852477, up by 17.17% from the current value. While that reflects retracing back to a lower value, it is still up from the current margin.
Overall sentiments are neutral despite the Fear & Greed Index showing 77 points. MATIC has seen green trades for 14 out of 40 days. The 14-day RSI is 52.53. The 50-day SMA and 200-day SMA stand at $0.709023 and $0.851708, respectively.
The market continues to be driven by speculation around the Spot Ether ETF. It could happen anytime soon once the US SEC approves the registration form. The agency has already given the green light to 19b-4.
Reactions to the recent update from Polygon are mixed. It is advisable to wait a couple of days before it starts fetching some results.
SWAP notes represent simple atomic asset SWAPs. Users can create a note consisting of an asset and a price dominated by another asset. Note Screener makes sure that only relevant notes are stored locally. Increased data storage and note refactoring virtually increase the storage capacity to unlimited and help create notes without assets.
Moving forward, the community can expect to see upcoming steps implemented. These include a Rust compiler, a Typescript SDK, and clients’ ability to consume notes.
The community has started responding to this development on X. Most have congratulated the team for achieving this feat. Others have sought answers to how it increases revenue sources.That said, the effect on price is evident as well.MATIC is down by 0.54% in the last 24 hours and is listed at $0.7128 at the time of writing this article. However, it shows an increase of 4.78% over the previous 30 days and 2.46% for the last 7 days. The 24-hour trade volume has increased noticeably by 49.16%. Market capitalization is down by 0.55%.
Nevertheless, the near-term predictions for MATIC are optimistic. In the next five days, Polygon could be inching closer to $0.93552. This would set the stage for a jump to $0.852477, up by 17.17% from the current value. While that reflects retracing back to a lower value, it is still up from the current margin.
Overall sentiments are neutral despite the Fear & Greed Index showing 77 points. MATIC has seen green trades for 14 out of 40 days. The 14-day RSI is 52.53. The 50-day SMA and 200-day SMA stand at $0.709023 and $0.851708, respectively.
The market continues to be driven by speculation around the Spot Ether ETF. It could happen anytime soon once the US SEC approves the registration form. The agency has already given the green light to 19b-4.
Reactions to the recent update from Polygon are mixed. It is advisable to wait a couple of days before it starts fetching some results.