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The global non-fungible token market is showing signs of a mild rally, marked by a slight increase in trading sales volume in some of the blockchain networks. BNB Chain, a renowned blockchain network from the Binance crypto exchange platform, is one of the blockchain networks that has seen increased trading sales volume in the non-fungible token market. In the past seven days, the BNB Chain has surpassed top NFT chains like Mythos Chain, Polygon, and the Solana network. BNB Overtakes Polygon In The NFT Market Chart Data compiled by CryptoSlam.io, an on-chain crypto market data aggregator and a multi-chain non-fungible token collection explorer that tracks non-fungible token collections from over 20 blockchain networks, shows that BNB Chain has recorded positive growth in the NFT market this week. In the past seven days, the BNB Chain-based NFTs have raised a trading sales volume of $22 million. BNB Chain has surpassed other top NFT blockchain networks such as Polygon, Mythos Ch...

A closely followed crypto analyst says that Bitcoin (BTC) may be forming a bullish pattern, setting up a massive breakout. In a new strategy session, crypto trader Ali Martinez tells his 69,300 followers on the social media platform X that Bitcoin could soon soar more than 7% from its current value in the short term. “In shorter time frames, Bitcoin might form a bull pennant, hinting at a potential surge toward $64,000!” Source: Ali Martinez/X Bitcoin is trading for $59,655 at time of writing, up slightly in the last 24 hours. Next up, the trader warns that Ethereum (ETH) competitor Solana (SOL) may be printing a bearish pattern and could plummet more than 16% if it fails to hold $141 as support. “Solana could be forming a head and shoulders pattern in the hourly chart, which suggests that a drop below $141 might trigger a correction that sends SOL to $122!” Source: Ali Martinez/X Solana is trading for $146 at time of writing, up sligh...

TLDR TRON plunges 3% in a week, and more losses are coming by month’s end. Polygon loses 10% in a week, but experts expect bulls to come soon. Rebel Satoshi has generated a 120% ROI thus far, with more presale gains coming. Top altcoins like TRON (TRX) and Polygon (MATIC) have performed poorly as the Crypto market continues battling a renewed bearish force. On the other hand, Rebel Satoshi  ($RBLZ), an emerging meme coin, has left mainstream investors in awe after raising over $1.5 million during its ongoing public presale. Why are TRON and Polygon investors gravitating toward Rebel Satoshi? Continue reading to find out! TRON Dips 3% in a Week: More Losses Incoming? TRON has performed unsatisfactorily over the past seven days. On January 15, TRX was changing hands at around $0.1130. Notably, TRX reached this level due to the January 13 news of Justin Sun announcing that the USDT circulating on the TRON network had surpassed $50 billion....

Bitcoin price is losing its upward momentum, but data suggests traders are gearing up to buy any significant dips. Bitcoin (BTC) soared above $35,000 on Nov. 2 and that may have sucked in the aggressive bulls who speculated that the next leg of the up-move was beginning. However, the price quickly turned around and fell back below $35,000 signaling that the breakout may have been a fake move. A mild correction during an uptrend does not signal a trend change. It is generally a healthy sign as it shakes out weak hands. When markets are trending higher, dips are viewed as a buying opportunity, but it is better to wait for the price to find a bottom before buying. Strong support levels could be watched as potential places where buyers step in to arrest the decline. Daily cryptocurrency market performance. Source: Coin360 MicroStrategy founder and executive chairman Michael Saylor said in an interview with CNBC that if traders hold a 12-month to 48-month time horizon, the current level is...

After today's Bitcoin ETF decision delay, BTC's boring price action looks set to carry on through the weekend. Bitcoin (BTC) continues to frustrate investors with its tight range consolidation, giving no clue about the possible direction of the breakout. Typically, the longer the range, the stronger the eventual breakout from it. Therefore, traders should be on their toes to latch on to the breakout when it happens.  A minor positive in favor of the bulls is that they are holding on to a large part of the gains seen in 2023. That indicates a lack of urgency among the bulls to book profits as they anticipate the uptrend to resume. Daily cryptocurrency market performance. Source: Coin360 Bloomberg senior ETF analyst Eric Balchunas highlighted that 15 of the best performing equity exchange-traded funds in 2023 have been crypto-related with exposure to crypto and blockchain. Do Bitcoin and the select altcoins show any signs of a potential breakout from their respective ranges? Le...

The forthcoming multi-chain system will use ZK proofs to transfer assets between networks. Polygon Labs, creator of the Polygon (MATIC) network, has proposed an architecture for its forthcoming “Polygon 2.0” project. The team suggested in a June 29 blog post that the new project should be made up of four different ‘layers,’ which will combine to create a web of networks ultimately connected to each other through Ethereum. If approved by validators, Polygon 2.0 will also feature an aggregator that makes bridge transactions “near-instant and atomic” the team said. 1/ Today, we are excited to propose the Polygon 2.0 architecture , designed to provide unlimited scalability and unified liquidity, thus transforming Polygon into the Value Layer of the Internet! Read the blog or keep scrolling https://t.co/sShy6R1E6R pic.twitter.com/BTdwkri4nI — Polygon (Labs) (@0xPolygonLabs) June 29, 2023 The team first announced Polygon 2.0 on June 12, claiming that the new project would establish “the...

The SEC’s tagging of cryptocurrencies as securities has greatly affected the crypto market causing Algorand and Flow to hit historic lows on June 10. The United States securities regulator designated a slate of cryptocurrencies as securities in recent lawsuits including Algorand (ALGO) and Flow (FLOW) which hit all -time price lows following the declaration. On June 10, ALGO and FLOW hit their respective historic lows of $0.098 and $0.46, having dropped around 30% in the past seven days according to CoinGecko data. Both have slightly rebounded since, with ALGO up over 12.5% and FLOW recovering just over 10.5% since June 10. ALGO's seven-day price chart shows a drop to its all-time low with a slight recovery after. Source: CoinGecko Last week the Securities and Exchange Commission (SEC) sued crypto exchanges Binance and Coinbase on June 5 and 6 respectively. In the process, it labeled 16 new cryptocurrencies as securities , including FLOW and Internet Computer (ICP). ALGO was hi...

Research into “Long COVID” and furthering medical infrastructure development will be the two main focus areas for Buterin. Ethereum co -founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India. Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause. The two will then help distribute the funds.  According to a January 2022 Twitter post from Nailwal, Crypto Relief will transfer the funds to Buterin in order for the India-based crypto fund to remain in full compliance with their local laws. The first installment went towards tackling the COVID-19 pandemic in India through “emergency humanitarian relief.” Crypto Relief describes itself as a community-run fund which has delivered financial relief to India during the COVID-19 ...

The debt ceiling talks remain in focus and are likely to dictate the price action in the S&P 500, DXY and cryptocurrency markets in the near term. The debt ceiling negotiations in the United States are keeping traders on the edge. JPMorgan Chase CEO Jamie Dimon recently told Bloomberg on May 11 that a possible sovereign default by the U.S. government could create panic in the stock markets, resulting in heightened volatility. The next big question troubling crypto investors is how will Bitcoin react to such an event. Bloomberg’s latest Markets Live Pulse survey indicates that Bitcoin (BTC) could be the third most preferred asset class behind Gold and U.S. Treasuries should the U.S. government fail to prevent a debt default. Daily cryptocurrency market performance. Source: Coin360 Billionaire fund manager Paul Tudor Jones told CNBC that he is holding his Bitcoin and will always have some portion of his portfolio in it. What are the important support and resistance levels to watch ...

Token incentive models may become obsolete as layer-2 networks focus on ease of functionality and low fees, but how will this impact decentralization? Layer-2 networks continue to gain momentum as the Ethereum ecosystem advances. For example, data from analytics provider Token Terminal found that layer-2 scaling solution Polygon had 313,457 daily active users as of Jan. 17, 2023 — a 30% increase in activity since October 2022.  Moreover, the Polygon ecosystem recently announced the launch of its beta version Zero-Knowledge Ethereum Virtual Machine. As a result, Polygon’s native token, Polygon (MATIC), maintains a bullish narrative. While notable, some believe layer-2 networks offering token incentive models may soon become obsolete. For instance, Jesse Pollak — head of protocols and Base core contributor at American crypto exchange Coinbase — told Cointelegraph at ETHDenver 2023 that there are currently no plans to associate a token with Base, the Ethereum layer-2 network recently la...

Polygon Labs is the latest cryptocurrency company to lay off employees and hop on the layoff bandwagon. Cryptocurrency prices did indeed start off better in 2023, as most of them saw double-digit increases. However, the majority of tech behemoths and cryptocurrency companies started firing employees in preparation for an impending recession. Also read: How to Buy Shiba Inu (SHIB) — A Beginner’s Guide Just in 2023, major companies like Spotify, Google’s parent company, Capital One, Microsoft, Amazon, Crypto.com, BlackRock, Coinbase, Goldman Sachs, Genesis Trading, and more will let go of staff. Polygon Labs joins the list and lays off 20% of its workforce. JUST IN: # Polygon Labs fires 20% of its staff. — Watcher.Guru (@WatcherGuru) February 21, 2023 Polygon’s decision affected 100 positions The news regarding the layoff was made official by Polygon in one of its recent official announcements. The main reason cited by the company for t...

Ethereum continues to be the dominant blockchain for developer activity, however, a few other chains continued to make ground. The notion that bear markets are good for builders appears to be true with the total number of monthly active Web3 developers increasing 5.4% to more than 23,300 over the last 12 months despite a near 70% drop in crypto prices. According to a Jan. 16 report from Electric Capital, “full-time” developers — categorized as those who contribute to 76% of Github commits — also increased 15.2% to over 7000, while “one-time” builders fell 6.2% to over 3,500 during the same time period between December 2021 and December 2022 Despite the crypto market capitalization beginning its long plunge from from its all-time high (ATH) of $2.9 trillion in Nov. 2021, monthly developer activity only began to fall in Jun. 2022 after the metric reached its record high of nearly 26,500. This fall was partly attributed to the fall in developer activity in the Terra ecosystem following ...

Bitcoin and altcoins are extending their rally and traders are hopeful that the gains will push higher after this week’s consumer price index data is released. Crypto and stock Markets are usually forward-looking. Meaning, traders tend to ignore the near-term negatives and focus on the positives down the line. With Bitcoin’s (BTC) next halving in 2024, analysts are shifting their attention to this event. Independent market analyst Rekt Capital highlighted this unique market dynamic in 2015 and 2019, a year before halving, Bitcoin rallied 234% and 316% respectively. If history repeats itself, Bitcoin’s price action may spring a surprise in 2023. However, the near term remains uncertain and the Consumer Price Index (CPI) data on Jan. 12 may lead to a sharp uptick in volatility. Some analysts are skeptical of the growing dominance of Altcoin trading volume, which is above 50%. According to CryptoQuant contributor Maartunn, the Altcoin dominance warns of “a potential risk for further down...