MATIC Rebranding To POL Does Little For Price; Investors Are Loading Up On Solana and Rollblock Instead
The post MATIC Rebranding To POL Does Little For Price; Investors Are Loading Up On Solana and Rollblock Instead appeared on BitcoinEthereumNews.com.
The crypto market has always been unpredictable, but nobody thought Polygon could surpass Solana in terms of weekly gains. Meanwhile, none of these market forces affect Rollblock as the GambleFi protocol recorded a new all-time high this week. Polygon (POL) Token Switch Triggers a Bullish Rally Last week, Polygon made a token switch from MATIC to POL. This community-driven upgrade is meant to boost Polygon’s ecosystem through a new tech layer called the AggLayer, allowing Polygon to combine liquidation and information across its network. At press time, Polygon’s price has surged to $0.3994 after a 7-day increase of 7.3%. Polygon is currently on a bullish high as the token’s trading volume is also trending upwards with a 334.06% rally in the last 24 hours. Although analysts like Ali Martinez pointed out a bearish descending triangle pattern for Polygon last week, the token has managed to defy expectations with this week’s rally. While Polygon may experience some bumps in the upcoming weeks, the introduction of Polygon’s new community treasure suggests potential for stable growth in the next few months. Solana (SOL) Price Under Threat from FTX Sell-Off The FTX exchange is currently liquidating assets due to bankruptcy, and Solana appears to be on top of its list. FTX currently holds $1 billion worth of Solana that are unsold and unstaked, making Solana’s price more volatile than ever before. Solana is currently trading at $132.48 after an intra-day decline of nearly 2%, suggesting room for more downfalls as FTX’s sell-off continues. Since Solana’s daily chart is currently hinting at bearish dominance, Solana’s price could decline to the $105.9 support in the upcoming weeks. If Solana whales start selling out to book profits, Solana could experience a massive crash down to its $76 and $13 support trendlines. Rollblock’s ($RBLK) New All-Time High Triggers…
Filed under: News - @ September 16, 2024 12:27 pm