Utility Wars: Domini.art’s Dethrone Polygon and Chainlink?
Polygon ($MATIC) regressed significantly between August 8 and August 20, 2023, following the overall market trend. Chainlink ($LINK) embarked on a similar trajectory, falling substantially during the same time.
But before we discuss Polygon ($MATIC) and Chainlink ($LINK) to determine the best cryptocurrency to invest in between the bunch, let’s have a closer look at Domini.art ($DOMI), which may be set to explode in value.
Domini.art ($DOMI) Set to Register Massive Gains Following Presale
Domini.art ($DOMI) is an innovative art marketplace bridging the gap between traditional art and technological innovation. The platform aims to democratize access to high-end blue-chip art by introducing fractionalization and blockchain. By allowing users to become shareholders in prestigious works of art, Domini.art ($DOMI) provides investors with access to a greater variety of art at a fraction of the cost.
Besides ensuring broader accessibility to art, Domini.art ($DOMI) ensures maximum transparency by tokenizing each artwork into trending NFTs. Domini.art’s ($DOMI) marketplace allows investors to diversify their portfolios by exploring various genres of art. Apart from exploring various art genres, users can list their ownership stakes for sale to yield substantial returns.
Domini.art ($DOMI) assures its marketplace security by offering comprehensive insurance and dedicated storage facilities along with implementing stringent authenticity checks on artworks.
Furthermore, if you are a Domini.art ($DOMI) token holder, you are entitled to various exclusive benefits. As a $DOMI token holder, users get early access to the latest blue-chip artworks and priority invites to exclusive art exhibitions and gallery openings.
As a Domini.art ($DOMI) user, you also can anticipate a significant surge from $0.0021 to $0.00924 during the presale alone. If you want the maximum returns for your investments, head over to Domini.art ($DOMI) now.
Let’s see if Polygon ($MATIC) competes with Domini.art ($DOMI).
Polygon ($MATIC) Dips as Bearish Sentiment Dominates
On August 8, Bitstamp announced that it would temporarily halt trading activities for various high-profile coins, including Polygon ($MATIC).
Following this news, Polygon’s ($MATIC) price took a hit, falling by 13.6% from $0.665 to $0.574 between August 8 and August 20. This negative price action was accompanied by a similar 25% drop in market cap from $7.2 billion to $5.4 billion during the same time.
Polygon’s ($MATIC) downward movement can be attributed to surging competition between top altcoins and market volatility. Furthermore, as of August 20, Polygon’s ($MATIC) EMA 10 and SMA 20 levels indicated that the bears had seized control.
However, despite the negative news and technical indicators, Polygon ($MATIC) still shows potential for recovery. As of August 20, Polygon’s ($MATIC) Momentum 10 and CCI 20 levels signaled the potential for bullish movement. Experts hoped this would help $MATIC recover, however, as of September 3rd, it’s trading at $0.553. Further declines are possible.
Let’s see if Chainlink ($LINK) exhibits a similar scenario.
Chainlink ($LINK) Failed to Impress Investors
On August 8, Chainlink ($LINK) announced that it is partnering with Base Coinbase’s new Ethereum L-2 solution. This affiliation will enable developers to integrate external DeFi apps and protocols easily. This partnership would benefit Chainlink ($LINK) in the long run by substantially increasing its utility and user base.
However, despite the positive news, the $LINK price dropped by 17.2% from $7.44 to $6.16 between August 8 and August 20. This negative price movement was accompanied by a similar 17.5% drop in market cap from $4 billion to $3.3 billion during the same time. Chainlink’s ($LINK) recent downtrend can be attributed to fading investor confidence and a broader negative sentiment surrounding crypto.
Besides exhibiting negative price action between August 8 and August 20, Chainlink ($LINK) showed potential for continued bearish movement. As of September 3rd, Chainlink ($LINK) has tumbled further, selling at just $5.99.
Learn more about the Domini.art ($DOMI) presale here:
Buy Presale: https://Domini.art/
Website: https://Domini.art/
Telegram:
Twitter: https://twitter.com/Domini.artgallery
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
Sign Up for Our Newsletter!
For updates and exclusive offers enter your email.
I consent to my submitted data being collected and stored.
The post Utility Wars: Domini.art’s Dethrone Polygon and Chainlink? appeared first on Crypto News Australia.
Filed under: Bitcoin - @ September 9, 2023 12:24 pm