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Polygon (MATIC) price was a clear proof that global market concerns are and can influence cryptocurrency performances. The nearly 5% drop MATIC underwent when US Fed Chair Jerome Powell and US Treasury Secretary Janet Yellen were speaking is a telling sign that needs to be factored in going forward. With their dire message, the current longer-term recovery rally will take a small dip and search for support with the first focal point nearby at $0.96 or 15% lower.

Polygon price sees its recovery rally from March broken as the sentiment has turned since last week. After its peak at $1.25, Polygon bulls have been giving up on holding important levels such as the 55-day Simple Moving Average (SMA), the pivot level at $1.187 and no new highs being printed for this week. A much more telling sign that clearly another bank collapsing or more turmoil means MATIC traders are pricing in a higher risk premium.

Cryptocurrency traders have been erroneously pumping a dead token called ARbit, causing it to rise 2000% in the past eight days from $0.00024 to a peak price of $0.027. The uptick came as traders confused it for Arbitrum, whose airdrop is slated for later today at 17:00 GMT.

However, the value of ARbit dropped after traders realized it was the wrong token, but it is still 109% up compared to its market value 24 hours ago, trading at $0.01356 at the time of writing. Its trading volumes are also relatively high over the same time frame, considering the mistake, with a reading of $10,430 on CoinMarketCap. This is a 12% increase in its 24-hour trading volume.

The narrative of Ethereum Layer 2 solution tokens is heating up with the shift in focus to altcoins. Bitcoin and Ethereum price rallies grinded to a halt after the recent rate hike announcement by The Fed. Typically, this shifts focus to altcoins and token holders can benefit from the alt season and upcoming L2 airdrops.

Polygon Networks native token MATIC and MetisDAOs METIS have witnessed accumulation since March 12. This coincides with the time when market participants were hit by the global banking crisis. Typically, accumulation by token holders fuels a bullish thesis for the asset.

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Cryptocurrencies Price Prediction: Polygon, Arbitrum & Ethereum ... - FXStreet

The Ethereum [ETH] network, despite its popularity, has been known to drive away users due to the high gas fees required to make transactions on the network.

Is your portfolio green? Check out the Ethereum Profit Calculator

However, in recent days, gas fees on the network has dropped significantly, hitting a one-month low of 29.390 GWEI. This has renewed interest in Ethereum [ETH] from the crypto community, as evidenced by the spike in NFT activity on the network.

Over the past 24 hours, there has been a total of $58 million worth of transactions in the Ethereum NFT market, with 71,700 trades conducted.

Most of this activity (around 70%) took place on the Blur platform, where the average trade amount was $1,206. The remaining 16% of the volume was on OpenSea, where the average trade amount was $335.

The interest in Ethereum is not limited to users alone. Validators on the network have also shown an interest, with their numbers increasing by 6.22% over the past week. This increase in the validators has resulted in a 24.27% rise in revenue generated by them during this period.

Despite this, according to data provided by Dune Analytics, 55% of Ethereum stakers remained unprofitable at press time.

However, the same cannot be said for addresses holding ETH, as the high MVRV ratio suggests that most addresses on the network are profitable. The high profitability of the ETH addresses could incentivize new users to buy ETH going forward.

Realistic or not, heres ETH market cap in BTCs terms

On the other hand, the concentration of whales holding their ETH has increased materially over the last month.

This could make ETH vulnerable to large price fluctuations if these whales decide to sell. This could be one reason why short positions against ETH have increased tremendously over the last few days, according to data from Coinglass.

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What can Ethereums [ETH] declining gas fees mean for the protocol? Analyzing - AMBCrypto News

As we brace ourselves for a turbulent crypto year, the market has seen expansions of more than $80 billion despite the Securities and Exchange Commissions (SEC) stringent regulations. Crypto markets are finally displaying signs of a bullish run and accelerating speed after a challenging first, ignoring any obstacles or unfavourable news.

The newest meme coin in the cryptoverse, Big Eyes Coin (BIG), is in the lead after raising over $31.5 million during its presale. Only time will be able to determine when and where this will land. On the other hand, Bitcoin and Ethereum are two crypto industry leaders. Bitcoin dominated the market, and users followed SEC regulations when converting other cryptocurrencies into BTC. Players like Cardano are also putting themselves out there.

The king of cryptocurrencies, Bitcoin (BTC), reached a height of $24,755 as we entered the second half of February. This was the highest level since June 2022. The value of BTC soared once many users and investors shifted their funds away from other cryptocurrencies and towards the crypto beast. BTCs price at the time of writing was $24,551, up almost 10% over the previous day, and it had a $473.59 billion market cap.

In order to establish an autonomous and interconnected network of digital currencies, Satoshi Nakamoto, a mysterious person or entity, launched Bitcoin as a different means of payment in 2009. Bitcoin uses a Proof-of-Work (PoW) technique to verify transactions, and the digital currencys 21 million coins are in limited supply.

Like Bitcoin, Ethereum (ETH) experienced growth and increased by more than 8% to $1,700. In August 2022, Ethereums last value of $1,800 was recorded. ETH was worth $1,683 and had a market value of $205.75 billion at the time of writing.

In addition to serving as a platform for decentralised apps and smart contracts, Ethereum debuted as a De-Fi coin in 2015. Its security, and reliability make it the platform that consumers and developers want the most in the world compared to Bitcoin. Ethereum relied on the Proof-of-Work method, but last year the network saw a shift PoS (Proof-of-Stake), which is quicker, requires less energy, and is more secure.

A blockchain that uses proof-of-stake is called Cardano (ADA). As a result, the coins energy efficiency is increased. Traditional proof-of-work consensus requires more mining and transaction time. The blockchain was created in 2017, and the Alonzo hard fork was introduced four years later. It has smart contract capability as a result. Smart contracts encrypted security makes them tough to hack. Transactions using the proof-of-stake mechanism can be done very quickly, effectively, and precisely!

Cardanos dedication to transaction security has aided in the platforms growth into a potent blockchain. Its greenness is aided by the quickness and effectiveness of its transactions as well as its smart contract. The likelihood of investing being successful is high.

Big Eyes Coin (BIG) is a community-owned, meme-themed cat coin that aims to improve the environment of the planet while also providing useful services and use cases. Big Eyes Coins presale has already reached $31 million, and it now aims to achieve $50 million by the end of the presale. This brand-new meme coin has a cat as its symbol, and it has the potential to grow into the biggest meme coin ever.

In the past few weeks, Big Eyes have run a number of marketing initiatives, including a tattoo competition, discount codes, and the great set of loot box offerings that are currently available.

The community-led token has repeatedly shown that it is here to stay and has a bright future ahead of it, dispelling any concerns being expressed by these crypto gurus, despite some internet critics casting doubt on the currency and its genuineness.

With incredible technological advancements, usability, accessibility, NFTs, loot boxes, and more, Big Eyes Coin is aiming to establish itself as a crypto mainstay.

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

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WARNING: The investment in crypto assets is not regulated, it may not be suitable for retail investors and the total amount invested could be lost

AVISO IMPORTANTE: La inversin en criptoactivos no est regulada, puede no ser adecuada para inversores minoristas y perderse la totalidad del importe invertido

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The Mount Rushmore of Crypto 2023? Bitcoin, Ethereum, Cardano ... - Euro Weekly News

Cardano (ADA) founder Charles Hoskinson announced that Algorand (ALGO) is now on the Cardano network in reaction to the news that Mikomedia A1 Rollup is live on Algorand.

Mikomedia is a blockchain interoperability provider which focuses on giving EVM capabilities to smart networks like Cardano, which are originally non-EVM. On the Layer-2 A1 rollup, wrapped ALGO dubbed milkALGO will be the native currency for all transactions.

According to the announcement, Algorand is a non-EVM chain with multiple other unique factors that make it the perfect candidate for one of the first rollups outside the Ethereum (ETH) ecosystem.

Milkomedas chief focus is fostering blockchain interoperability, accomplished by bringing EVM capabilities to non-EVM chains, while creating a seamless user experience.

Two products are already live on the A1 rollup: Celer and Blueshift. Blueshift is a decentralized exchange based on the Milkomeda Cardano C1 sidechain. Now that it has been deployed on the AI Rollup, it will be possible for Algorand users to access the protocol.

Launching the Layer-2 A1 rollup is a big deal for Cardano and Algorand because it will allow the two networks to connect. This could not have happened without the rollup since both blockchain networks use different architectures.

Cardano is based on the UTxO architecture, while Algorand uses Algorand Virtual Machine (AVM). Without the Layer-2 rollup, it would be impossible for the two to connect or swap assets.

Blueshift is also planning to release features that will make it possible for users of both networks to make Cross-chain swaps.

Meanwhile, the development did not impact the price of ADA or ALGO.

ADA was down 0.5% over the past 24 hours and down 7.3% over the past seven days trading at $0.3536.

ALGO was trading at $0.3132 as of press time, down 0.2% in the last 24 hours.

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Amid stablecoin turbulence, Djed to expand to Ethereum, Binance Smart Chain - CryptoSlate

Bitcoin and Ethereum both fell in the last 24 hours, but the former has performed stronger than major indices this last month.

Bitcoin, the largest coin by market cap, slipped 2% to US$27,641, although the digital gold is still up 12% in the last week.

Yesterday, Bitcoin reached a three-month high when the asset hit US$28,638.

Ethereum, on the other hand, lost 2% to US$1,752, butis alsoin the black over the seven days, up nearly 6%.

As markets panicked in the wake of the collapse of Silicon Valley Bank (SVB) and UBSs takeover of fellow Swiss lender Credit Suisse, Bitcoin has gone strong.

Since 10 March, the coin has risen by nearly 37% from US$20,376 to todays price.

To put this into perspective, only 12 companies in the S&P 500 have achieved higher returns than 35% this year to date.

This means that Bitcoin is outperforming the likes of FedEx (NYSE:FDX), Apple and Amazon.

Among some of the altcoins,XRP shed 1.6% to US$0.44,Solana lost 2.4% to US$21.73 while Litecoin gained 8.2% to US$87.70.

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Bitcoin and Ethereum: Bitcoin falls, but still going stronger than most ... - Proactive Investors UK