Polygon (MATIC) has experienced notable whale activity, with large holders selling off millions of tokens, leading to significant short-term price changes, despite a positive long-term outlook. Ethereum’s supply on exchanges has surged to a 34-month high, with $19.52 million ETH now available.
Amid these changes, the crypto market is buzzing about BlockDAG‘s prestigious partnership with UFC champion Alex Pereira. This powerful collaboration between advanced blockchain technology and elite sports has captivated investors, shaking up the market. BlockDAG has achieved an impressive nearly $60 million in presale funds, marking a 1400% increase from its initial price.
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Polygon (MATIC) Investors Sell Despite Positive Outlook
Polygon, known for enhancing Ethereum and creating interconnected blockchain networks, has seen significant whale activity recently, with major holders selling millions of MATIC tokens. This has caused notable price volatility and concerns about short-term performance.
Additionally, MATIC options worth $751.80 million are set to expire, with a put-call ratio of 0.76 and a max pain price of $0.51, slightly below the current price of $0.516. Despite this, Polygon’s long-term outlook remains promising. The planned migration from MATIC to POL tokens on September 4 is expected to further influence market dynamics.
Ethereum Supply Hits 34-Month Peak
Ethereum’s supply on exchanges has reached a 34-month high, with $19.52 million ETH now available as the price exceeded $3,500. Ethereum’s daily trading volume has risen by 7.6% to $19.8 billion.
Despite this increase, whale transactions have dropped by 12%, indicating that smaller deposits are driving the supply surge. The ETH Relative Strength Index (RSI) at 60 suggests slightly overbought conditions. The upcoming launch of spot ETH ETFs in the U.S. on July 23 is fueling this recent price increase.
BlockDAG & UFC Champ Alex Pereira Partnership Shines in Blockchain
BlockDAG has formed a significant partnership with UFC champion Alex Pereira, showcasing a powerful synergy between the innovative blockchain platform and a world-class athlete. Pereira and BlockDAG share qualities like strength, agility, and the relentless pursuit of excellence. This partnership is a unique blend of sportsmanship and cutting-edge technology that aligns with the goals of both BlockDAG and Alex Pereira.
Unlike traditional blockchain technologies, BlockDAG uses a proof-of-work consensus mechanism, aiming to revolutionise the crypto world with its advanced Directed Acyclic Graph structure. It prioritises security and champions eco-friendly practices, paving the way for sustainable digital transformations. Its exceptional speed and efficiency, achieving 10 blocks per second with ambitions for 100+, set it apart. BlockDAG’s layer 1 technology offers access to smart contracts, secure mining, and optimised performance, with cryptographic algorithms ensuring transaction security.
BlockDAG’s mission to explore the possibilities of blockchain technology is complemented by its impressive transaction processing speed (TPS), which matches Pereira’s ethos. BlockDAG combines rapid confirmations with minimal fees, resulting in a high transaction throughput of 10,000–15,000 TPS. BlockDAG’s technology supports high-volume, time-sensitive applications with scalability and efficiency, transforming transaction processes.
With these innovative features, BlockDAG has garnered significant investor interest. Its presale performance has been remarkable, reaching nearly $60 million and achieving a 1400% growth from the initial price. Starting at $0.001, BlockDAG is now valued at $0.015, with a predicted launch price of $0.05. Experts believe this partnership with Alex Pereira will enhance BlockDAG’s visibility and appeal, combining the excitement of top-tier athletic performance with revolutionary blockchain technology.
Final Word
Polygon investors face volatility due to significant activity, and Ethereum’s exchange supply reaches a 34-month high with upcoming ETF launches. However, the crypto community’s focus has shifted to BlockDAG, which has risen rapidly through an elite partnership with UFC champion Alex Pereira and a remarkable presale performance. BlockDAG’s presale surged to nearly $60 million, reflecting a 1400% increase from its initial price. Experts affirm BlockDAG’s position among popular crypto coins due to its innovative capabilities and strong market presence.
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