The bears are attempting to sink Bitcoin (BTC) below $19,000 to further cement their advantage over the crypto market. Analysts watching Bitcoin’s MVRV-Z Score, a metric that measures how high or low Bitcoin’s price is relative to “fair value,” expect an even deeper fall before the bottom is finally reached. However, economist, trader and entrepreneur Alex Krueger pointed out that Bitcoin’s volume hit an all-time high in June. Usually, the highest volume in a downtrend is indicative of capitulation and that “creates major bottoms.” If Bitcoin follows the historical pattern of the 2018 bear market, Krueger expects the bottom to …

Popular Ethereum-based metaverse gaming platform The Sandbox has unveiled a bridge that enables users to transfer their virtual nonfungible token (NFT) LAND and native SAND tokens over to layer-2 network Polygon. While The Sandbox will live on Ethereum for the most part, the platform has emphasized that conducting SAND and LAND transactions on Polygon will result in lower gas fees, faster transaction speeds and greener interactions on the blockchain. The firm stated via Twitter on Wednesday that it is now ready to start deploying LAND on Polygon, and users will be able to receive a 10 mSAND cashback worth roughly …

Bitcoin (BTC) focused on $21,000 into the weekend amid warnings that volatility could still consume the market before June 27. S&P 500 sees second best week of 2022 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD broadly higher in its recent trading range after United States stocks ended the week strong. As noted by markets commentators Holger Zschaepitz, the S&P 500 sealed its second best week of 2022, indicative of modest relief across risk assets. In case you missed it: S&P 500 has gained >6% in 2nd-best week of 2022 as disinflationary forces gather steam & #Fed tightening expectations …

Polygon (MATIC) took a break from its prevailing bearish course, posting one of the sharpest rebounds in the crypto market this week. Notably, MATIC's price has risen to $0.50 this June 23, four days after hitting $0.317, its lowest level since April 2021. This amounts to roughly a 60% gain, surpassing the performances of even Bitcoin (BTC) and Ether (ETH) in the same timeframe. Nevertheless, MATIC is still down significantly from its December 2021 high of $2.92, coinciding with the overall crypto bear market and a hawkish Fed putting pressure on risk-on assets. MATIC "in a pretty big accumulation" Meanwhile, …

Avalanche (AVAX) is down 45% in 30 days and in the same time the cryptocurrencies total market capitalization shrank by 29%. Despite the recent downturn, this decentralized application (DApp) platform remains a top contender in the layer-1 and layer-2 race and it ranks high in terms of smart contract deposits and active addresses. Yet, the lackluster token price is still causing investors to rethink whether the network remains a “serious” competitor. The brutal sell-off on risk assets caused AVAX to test the $14.80 support multiple times, while the current market capitalization stands at $4.8 billion. It’s important also to note …

Ethereum layer-2 scaling solution Polygon has announced the hiring of Bhumika Srivastava in a bid to consolidate its strategy and cultural ambitions for the company’s 500-employee global workforce. Serving as the head of human resources and director for employee experience at Airbnb for the past five years, Srivastava arrives with an illustrious portfolio and plethora of experience from her work in Web2, having occupied senior roles at Adobe, Yahoo, Tesco PLC and Snapdeal. Srivastava’s appointment marks a consistent trend in Polygon’s hiring strategy of prominent figures within the Web2 space, such as the former head of gaming at YouTube, Ryan …

Digital collectibles, which now exist as nonfungible tokens (NFTs), continue to be released to the market at an unprecedented rate. Unfortunately, the sheer number of new projects makes it difficult for investors to determine which projects are worth the investment. For this reason, many consider the asset's rarity to be a determining factor in how valuable a piece is and how highly sought after the project will be by investors. The caveat is that NFTs, which are designed to be one-of-a-kind or unique by nature, may become subject to duplication, with data being transformed (cropped, rotated, stretched) or subject to …

Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs. What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering worldwide, but it is exactly these kinds of conditions that create opportunities where professional money accumulates and adds to positions. Let’s take a look at three altcoins that could be positioned for a rebound if the broader market enters a new uptrend. ADA could be setting up for an …

The collapse of the Terra ecosystem, which included most of its apps and protocols, has created a diaspora of developers from which opportunistic blockchain companies are hoping to snap up talent. Polygon, one of the largest blockchains by total value locked (TVL), is actively seeking out Terra developers to add valuable expertise and support to their efforts. Polygon launched a “relatively uncapped multimillion-dollar fund” designed to entice Terra developers to migrate over to the Ethereum sidechain scaling solution, according to Polygon Studios CEO Ryan Wyatt speaking to TechCrunch at the weekend. Wyatt added that he wanted the fund to be …

Crypto markets are undeniably bearish, but some industry insiders believe these conditions will shake out the bad actors and create greater opportunities for future participants. Traders tend to lament the negative price action and relative difficulty in executing profitable trades in bearish market conditions. However, several leading analysts and builders agree that this is the time to make moves that will lead to the greatest gains when bullish sentiments return. Polygon co-founder Mihailo Bjelic told CNBC on Friday that the current downturn and recent major sell-off earlier this month were just what the market needed. Bjelic believes that the market …

Nonfungible tokens (NFT) and blockchain technology have developed an unfortunate stigma in some sections of the community for being bad for the environment. But, could that perception be changed by integrating carbon offsets into NFT gaming? GameFi, or gaming finance, marries NFTs and gaming. Blockchain games account for nearly $12 million in daily volume from over a million gamers, according to app tracker DappRadar. Toucan Protocol chief operations officer Rob Schmitt thinks that volume and those users could be harnessed to benefit the environment. Schmitt told Cointelegraph that using carbon offsets as an element in blockchain games could create “by …

The past week in the decentralized finance (DeFi) ecosystem was dominated by Terra's collapse and its aftermath on various ecosystems it was connected. Now BNB chain has come to the rescue of several stranded projects on Terra by offering financial and technical assistance. After its spiral collapse, Terra co-founder Do Kown proposed a revival plan and a hard fork to revive the blockchain. Chainalysis introduced new tools to monitor and track stolen funds across multiple blockchains. Swiss asset manager Julias Baer is eyeing crypto and DeFi potential. Top DeFi tokens saw another week of bleeding, with the majority of these …