Polygon & Eclipse Partnership
• Polygon has partnered with Eclipse to launch a new software that will allow Solana apps to migrate to Polygon or go multichain.
• The software, called Polygon Sealevel Virtual Machine (SVM), is a customized rollup that increases throughput and interoperability for blockchain-related businesses.
• Additionally, an audit-upgraded testnet for zkEVM will be released with performance improvements and support for Etherscan and FFLONK.
Why is the Polygon & Eclipse Partnership Important?
The partnership between Polygon and Eclipse is important because it provides developers with the opportunity to easily leverage the capabilities of both networks in order to create applications. Through SVM, developers can now migrate their apps from Solana to the Polygon network or even go multi-chain. With this integration, Polygon’s scaling solution will also be able to provide higher throughput as well as additional security features such as support for Etherscan and FFLONK.
What Does This Mean For Investors?
For investors, this partnership means increased opportunities for projects built on the Solana network. With access to both networks, businesses can benefit from enhanced scalability and interoperability which could potentially lead to improved user experiences and more efficient transactions. Additionally, investors can take advantage of these new features by investing in MATIC tokens which are used as part of the PoS consensus of the network.
When Will These New Features Be Available?
The testnet for SVM is expected to be released during the first quarter of 2023 while an audit-upgraded testnet for zkEVM will be available next week. Once these have been released, developers will have access to even more features provided by both networks which could help improve user experience and attract more users in general.
Overall, continued development on both networks could lead to new opportunities for business growth on top of existing capabilities such as high transaction speeds, scalability solutions, interoperability options and more secure platforms enabled by multiple layers of security protocols offered by both networks. Ultimately, this could mean increased value for investors who choose MATIC tokens as their investment option due its ability to provide access decentralised applications developed on either platform
• Polkadot (DOT) has been trading above the $6.50 level, currently at $7.21.
• The crypto bloom of 2021 saw its price reach an ATH of $55 in November while the crypto crash in Q2 2022 pushed it below $6.
• Recently, Polkadot upgraded to v9270 version and Deutsche Telekom purchased a large amount of DOT tokens.
Polkadot Price Overview
After forming a base above the $5.80 zone, Polkadot’s (DOT) price started afresh and climbed above the $6.20 and $6.25 levels to move back into a positive zone. The bulls were able to push the price above the $6.50 level, trading at $7.21 at press time. However, there was a major bearish trend line forming with resistance near $6.70. Currently, Polkadot is ranked as 12th largest cryptocurrency with a market cap of over 8 billion USD .
In a blog post published on 26 September, 2022, the Polkadot team provided updates on their Roadmap Roundup which aims to reduce the duration of parachain blocks to six seconds and increase available block space by 5-10 times with asynchronous backing feature.. This will also enable reusing parachain blocks if they don’t make it onto relay chain on first try and this will result in higher transactions per second (TPS) capacity – up to 100K-1M TPS eventually .
ICO & Performance
Prior to its launch, Polkadot had raised over 144 million USD through Web3 Foundation in an ICO itself in October 2017 . Since then , DOT had remained relatively stable until 2021 when its performance became highly bullish , reaching its all-time high price od 55 USD in November . In contrast , Q2 crash impacted its value adversely but it recovered soon after v9270 upgrade was released .
Competition With Ethereum
With Ethereum transitioning from PoW mechanism to PoS , Ethereum emerged as competitor of Polkadot as alternative PoS blockchain which led DOT’s price plunging down since then . Nonetheless , Robert Habermeier – co-founder of DOT claimed that he is happy for ETH transition and views them as collaborators rather than competitors .
Deutsche Telekom Acquisition
Recently , Europe’s largest telecommunication company – Deutsche Telekom acquired significant amount of DOT tokens which can be seen as promising for future performance for this token .
• Solana (SOL) traded within a range of $20.4 and $26.6 since mid-January.
• It has raised around $335.8 million over 9 funding rounds, with Alameda Research, Andreessen Horowitz and Polychain being its leading investors.
• In early August 2022, thousands of Solana accounts were drained due to a bug in software used by several wallets popular among Solana users.
Overview Of Solana (SOL)
Solana (SOL) traded within a range between $20.4 and $26.6, with the midpoint at $23.5 since mid-January. Over the last seven days, the price of SOL fell from $24.98 to $20.27 at press time and its market cap fell from $9.3 billion to $7,607,433,352 during the same period. The altcoin was trading at $2036 at the time of writing.
Solana has gained increasing popularity as American comedian and television host Steve Harvey changed his Twitter profile to that of a Solana Monkey Business NFT in September last year while American singer Jeson Derulo tweeted about his excitement for the token last year saying that he betted on Solana and enjoyed the ride.
The token has raised around $335 8 million over 9 funding rounds with Alameda Research Andreessen Horowitz and Polychain being its leading investors The current year so far has however proven to be highly volatile for all cryptocurrencies and Solana didn’t escape this brunt either So far its maximum price this year has been 136 38 dated 3 April
In early August 2022 thousands of Solana accounts were drained due to a bug in software used by several wallets popular among Solana users This incident led to many users losing their funds worth around 8 million
American cryptocurrency billionaire Sam Bankman-Fried CEO of FTX exchange said in an interview with Fortune that SOL is the most „underrated token right now… at least as of a month ago“ He added that though the system exposed itself to many vulnerabilities it has continued to push boundaries Cryptocurrency VC fund Cyber Capital’s Justin Bons is however not as enthusiastic as SBF He tweeted that Sol
• Chainlink (LINK) faced a price rejection at the selling pressure zone at $7.500 and dropped sharply by 6%.
• LINK’s Relative Strength Index (RSI) was 49, indicating an almost neutral structure leaning toward a bearish bias.
• LINK’s hourly active addresses spiked, but sentiment turned negative, indicating that analysts were bearish on the asset.
Chainlink (LINK) Price Rejection
Chainlink [LINK] faced a price rejection at the selling pressure zone of $7.500 which caused its value to drop sharply by 6%. Its current value stands at $7.098 and could break a crucial support level if Bitcoin [BTC] fails to reclaim the $23.5K level.
Relative Strength Index (RSI)
At press time, LINK’s Relative Strength Index (RSI) was 49, leaning towards a bearish bias. This indicates that bears might take control of the market if BTC drops below the $23.5K level which would cause LINK’s value to drop down to either $7.013 or $6.886 in the upcoming hours, offering short-selling opportunities for investors and swing traders alike.
Hourly Active Addresses
As per Santiment data, LINK’s active addresses spiked in the past hour, suggesting more accounts are trading the asset which could boost its trading volume and buying pressure and help it hold onto its support levels. However, should there be any decline in LINK’s active addresses this could tip bears to devalue the asset further in coming hours.
In addition to its hourly active address spike, sentiment analysis also showed a quick drop with analysts turning bearish on LINK’s momentum in short-term movements which may undermine bullish momentum even further should BTC fail to reclaim its mark at $23.5K thus eating away profits from holders of this asset – making it all important for investors and swing traders alike to keep track of BTC prices going forward for more insight into how their holdings will pan out over time..
Investors can check out Chainlink [LINK]’s Profit Calculator as well as Chainlink [LINK]’s Price Prediction 2023-24 while they wait for Bitcoin [BTC] prices action near the $23.5K level .