April 21st, 2022

MATIC price prediction: Will going green boost Polygon value?

On 12 April 2022, Polygon (MATIC) made headlines with the release of its “Green Manifesto”, pledging to make its blockchain universe more environmentally friendly.

Polygon’s future plans might seem bright, but its native cryptocurrency, MATIC, has been on a bearish trend since the start of 2022.

After reaching its all-time high on 26 December 2021 at $2.8768 the token has been on a downward trend, losing 50.9% of its value and dropping to $1.41 by 19 April 2022.

Amid plans to go green, can the token surpass its all time high, and what’s in stock for the Polygon crypto price prediction?

What is Polygon crypto?

In the last couple of years, ether (ETH) has become one of the most popular cryptocurrency tokens. It’s the second biggest cryptocurrency by market capitalisation and the leader in decentralised finance (DeFi) (as of 19 April) due to its compatibility with smart contracts, which make building decentralised applications (dApps) easy.

However, ETH’s growing popularity has also made the blockchain very hard to use amid rising gas fees and excessive traffic. That, in addition to low throughput and no sovereignty has pushed for the creation of Polygon.

Polygon, previously known as Matic Network, is the first easy-to-use platform for Ethereum scaling and infrastructure development. Founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic in 2017, it wants to make Ethereum a “full-fledged multi-chain system”.

Using the slogan “built by developers, for developers”, Polygon has managed to combine all existing Ethereum tools with faster and cheaper transactions.

Polygon’s key features include:

Fast, cheap and safe transactions on Polygon sidechains that are finalised on the Ethereum mainchain
High throughput and multi-chain transactions
Smooth user experience
Public sidechains that support a number of protocols

So far, Polygon has released three scaling solutions:

Polygon PoS – a Layer 2 scaling solution that achieves great transaction speed and cost savings
Polygon Hermez – a Layer 2 construction on top of Ethereum that solves its scalability issues
Polygon Edge – allows users to run their own blockchain network with customisable features

Three others are in development:

Polygon Avail – targets off-chain scaling solutions and standalone chains
Polygon Miden – a Layer 2 scaling solution for Ethereum and relies on zero-knowledge technology to merge thousands of Layer 2 transactions into one single ETH transaction, increasing throughput and decreasing transaction fees
Polygon Zero – a Layer 2 scaling solution for Ethereum that separates Polygon Zero from other zero-knowledge scaling solutions

Polygon Nightfall, a unique privacy-focused scalable transaction solution, is currently undergoing a testnet. The Enterprise chain is planned.

Since launching, Polygon has allowed users to develop over 10,000 dApps, attracted over 130 million unique users, experienced over 3 million daily transactions and hosted over 3.4 billion transactions.

Polygon’s native cryptocurrency is known as MATIC, an ERC-20 token running on the Ethereum network. The MATIC crypto is used to pay fees on the Polygon network, and for stacking and governance.

A maximum of 10bn MATIC tokens were released. Over 7.8bn tokens are currently in circulation, according to data provided by CoinMarketCap, as of 19 April. MATIC currently has a market capitalisation of over $11bn and is ranked as the 18th most popular token.

Will MATIC go up or down? Technical outlook

The MATIC token launched two years after Polygon was founded through an initial exchange offering (IEO) on the Binance crypto exchange platform.

Since its launch in 2019, the token struggled to speed up, moving sideways and fluctuating between $0.01 and $0.03 for the next two years.

The Polygon cryptocurrency started to gain traction in early February 2021, soaring to new price levels by May that same year. In four weeks between 22 April 2021 and 18 May 2021, the Polygon coin price surged by 602.4%, up from $0.3494 to a then record high of $2.4544.

Despite its momentary success, the coin dropped to $1.0867 but managed to rebound to $2.2102 by 26 May 2021.

Following May’s highs, the Polygon coin’s price has struggled through a volatile ride. it hit a new record-high of $2.8768 on 26 December 2021, following news that the number one Ethereum App, Uniswap, had launched on Polygon.

Since then, however, the token has been on a bearish trend, with its price losing over half of its value from the record high, dropping to the $1.4222 level, as of 19 April 2022. Between 15 February 2022 and 15 March 2022, the coin lost 25.9% of its value amid general negative market sentiment as tensions started to rise on the Russia-Ukraine border.

What is your sentiment on MATIC/USD?

MATIC token technical analysis provided by CoinCodex showed that short-term sentiment for the coin was neutral at the time of writing (19 April), with 14 indicators pointing to ‘sell’ and 13 to ‘buy’.

A relative strength index (RSI) of 35 was neutral, yet close to an oversold territory. A reading of 30 or below would indicate that the asset is becoming undervalued and a trend reversal is likely to occur. The token is trading above its five-and 10-day moving averages, yet close to its R1 resistance level of $1.47.

Is Polygon a good investment?

Some of the biggest Polygon (MATIC) news came as the platform announced that it would be going carbon-negative in 2022, revealing its “Green Manifesto” – a $20m pledge to tackle climate change.

The crypto industry has been heavily criticised for its high electricity consumption by climate change activist groups, including Greenpeace.

By joining the green movement, Polygon is not only aiding the battle against climate change, but has the potential to catch the attention of investors who value the environment, thus building the case for a bullish Polygon MATIC price prediction.

In addition, MATIC was recently listed on Robinhood, the leading retail investment and trading platform. According to Anndy Lian, the BigONE Exchange chair in Asia, that could be an endorsement for the MATIC token.

“With the Robinhood app adding Polygon to their crypto offerings, my guess is that they are also bullish on the token. In addition, the world’s most popular NFT Marketplace, OpenSea, has some of its functions run through Polygon,” Lian told Capital.com.

The expert added that Polygon’s low fees and fast speed are the two key points that are pushing more projects to mitigate the platform.

“On top of this, MATIC made good moves to deep dive into the NFT and gaming sectors. This allows them to scale and gain popularity a lot faster than their peers,” Lian said.

According to Lian, apart from the low fees and fast scalability, the platform is also easy to use and their community and developers are very supportive.

“They are building up their ecosystem by empowering projects to build dApps easily on top of their infrastructure. Their roadmap since 2017 is very clear and this has given them a lot of followers, especially in the South Asia region,” he said.

“Overall, MATIC is an exciting blockchain in the market. The demand of the token will continue to grow as long as ETH 2.0 is still not out.”

MATIC price prediction 2022 – 2025, 2030

Despite recent bearish MATIC token price action, algorithm-based forecasting service Wallet Investor gave a bullish MATIC coin price prediction at the time of writing (19 April).

The site noted that MATIC is “an awesome investment”, adding that it has a long-term earning potential.

Based on its analysis of past price performance, the website expected that the token could cost $2.439 in 2023 and jump to $6.701 by 2027.

DigitalCoinPrice supported the positive MATIC to USD forecast, but projected a much slower pace of growth in the following years, predicting that the token could rise to $1.98 by the end of 2022, $2.50 by the end of 2024 and $3.15 by the end of 2025, surpassing its December 2021 all-time high.

For the end of 2028, the site gave a $4.41 Polygon price target. Its long-term MATIC future price prediction suggested that the cryptocurrency could have the potential to reach $6.89 by 2030.

Note that price predictions can be wrong. Forecasts shouldn’t be used as a substitute for your own research. Always conduct your own due diligence. And never invest or trade money you cannot afford to lose.

Polygon (MATIC) price prediction: The bottom line

The green transition and Robinhood listing appear to be fuelling the bull case for the MATIC coin, in line with the upbeat predictions from algorithm-based forecasting sites.

There are many factors at play for the future of the coin, from the overall macroeconomic environment, acceptance of the crypto markets and the level of adoption. Always remember that your decision to trade should depend on your attitude to risk, your expertise in this market, the spread of your investment portfolio and how comfortable you feel about losing money. Crypto markets are very volatile and involve high risk. Never invest money that you cannot afford to lose.

Original Source: https://capital.com/polygon-matic-price-prediction-and-analysis

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April 19th, 2022

Anndy Lian Spoke at AIBC Summit UAE 2022: ‘Investment opportunities in Defi & NFT’

Speaking on ‘Investment opportunities in Defi & NFT’ at the AIBC Summit in Dubai on March 21, 2022, the Chairman of BigONE Exchange Anndy Lian said he firmly believed in the importance of community to the long-term success of DeFi and NFT projects.

“There is a lot of hype in the crypto market around DeFi and particularly NFTs right now. But one essential factor that sets the projects apart is the strength of their community. I think that community aspect needs to be clearly laid out when seeking VC investment,” Lian said.

While in the world of startups you traditionally started with a product or service and then sought to find and acquire customers in the DeFi and NFT world, these rules have changed. Indeed, during the ICO boom days when a white paper and a founding team with advisors was enough to gain funding, in 2022 that’s certainly no longer the case.

While a strong project team is still essential just as important is a clear vision of what the project is aiming to achieve together with real utility, said Lian. “There’s a lot of talk about projects being community-focused but what does that mean? It’s certainly true that building a community cannot just be based on a series of airdrops otherwise the community will soon disappear once the incentives dry up. I believe there needs to be along with an engaged community, a sense that the community has a real stake in the startup through its governance and its tokenomics,” Lian added.

As the current controversy over the purchase of Crypto Punks IP by Yuga Labs, which is currently reported to be in funding talks with A16z at $5B valuation, the role of VC investment in this space comes with both opportunities and risks, Lian observed. While Yuga Labs has now acquired a dominant position in the NFT market, and top VC interest along with that, there remains the challenge of keeping diverse communities onboard.

“In the long term, particularly as regulation in crypto starts to make an impact, its important to consider how a DeFi, NFT or even a meme coin project will continue to deliver value on behalf of its customers, and for its community,” said Lian, who is also a Kishu Inu Foundation council member.

Also appearing on the expert panel hosted by NewTribe Capital VC were Vinny Lee founder of CRT Labs, and Martin Belobrad partner at Metrix Capital.

AIBC Summit aims to be a pillar in the technological development by uniting tech-leaders, regulators, investors and entrepreneurs from across the world to discuss, share ideas, make partnerships and build the foundation for the industry of tomorrow.

👉 Check out what AIBC has lined up for the rest of 2022 ➡ https://aibc.world/

👉 Facebook ➡ https://www.facebook.com/AIBCsummit

👉 Instagram ➡ https://www.instagram.com/aibcsummit

👉 Twitter ➡ https://twitter.com/AIBCsummit

👉 LinkedIn ➡ https://www.linkedin.com/company/aibc…

#AIBC #Dubai #2022 #Bitcoin #BitcoinNetworks #Blockchain #BTCN #Crypto #EmergingTech #IoT #smartcontract #EventCompany

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April 19th, 2022

NFTs: Bringing about the next level of funding social causes

NFTs are leading a revolution in fundraising for the marginalised by reaching out to a global audience and rewarding them for their contributions

Non-fungible tokens (NFTs), digital assets backed by the technology that drives cryptocurrencies, are now spurring social change by facilitating fundraising for charitable causes ranging from female empowerment to supporting philanthropic efforts in war-torn countries such as Ukraine.

This ability to fund initiatives for a range of socially important issues through the sale of NFTs could power the next growth phase for this asset class.

Crypto-based donations have been trending since 2017, when an anonymous donor created the Pineapple fund by donating 5,104 Bitcoins to support causes including international aid and life-extension research.

NFTs are used to represent popular art, real estate, intellectual property (IP) and other applications where authenticity and proof of ownership are vital.

Good causes

Although a recent phenomenon, NFTs have successfully entered mainstream transactions, overriding aspects such as age, geographic location, and intention. As the world goes through the next phase of the digital revolution, there are strong signs of NFTs becoming a vehicle for social change — from charitable events held in the most creative manner to celebrity partnerships and other forms of cryptocurrency-based donations.

NFT donations can be purely giving crypto for good causes, where donors are attracted to charities that share similar values to their own and not monetary gains, said Anndy Lian, chairman of BigONE Exchange. All the proceeds can go directly to those in need without any intermediaries — this is the true meaning of doing good using crypto and blockchain technology, according to Lian.

Easily accessible and highly convenient, this format of contributing has encouraged artists, celebrities, socialites, and the wealthy to engage with charitable causes, where cryptocurrency replaces actual currency in a win-win situation for all.

According to Aliasgar Merchant, developer relations engineer at Ignite, the most common causes benefiting from NFT donations are fighting the COVID-19 pandemic, mental health and wellbeing, animal welfare efforts like Orangutan Outreach, fighting poverty via organisations like No Hungry Kid, climate change and sports. It has also given birth to a whole new set of philanthropic organisations that bridge donors and receivers in various parts of the world.

Linking NFTs with an underlying cause allows participants to engage and get timely updates on the impact generated by their donations. Environment-focused organisations that auction NFTs representing endangered wildlife species also provide the buyers with updates on how the funds are used.

This brings about transparency that was unseen before while improving society and nature. NFT projects such as ChangeDAO, Impact, KRebels, and ARTXV are examples of how social entrepreneurs engage with a global audience to focus on often-neglected communities or causes.

Arijit Mukherjee, founder of Yunometa, an NFT marketplace, says while the Ukraine war is a terrible tragedy, the world has seen how NFTs have come to the aid of the country.

“The country itself is selling NFTs the way war bonds were sold previously to raise money. Apart from this, individuals and social causes have also banded together to send aid to the country by selling NFTs. The one that comes to mind is Kyiv mayor Vitali Klitschko’s brother raising funds through his NFT called Vandalz for Ukraine: WhIsBe x Wladimir Klitschko, the proceeds of which will go to Red Cross Ukraine and UNICEF. This is just one example for a country that has raised over $60 million in crypto donations,” Mukherjee said.

Value potential

Yunometa will come out with a series of NFTs in conjunction with various projects to save animals including tigers and elephants, he said.

Being non-fungible or non-interchangeable by design, every minted NFT is unique and has the potential to increase in value due to the inherent exclusivity and scarcity embedded in it. This is why collectors lap up NFTs from philanthropic projects, having realised that they could be even more valuable than a donated piece of art or possessions of famous personalities in the future.

Blockchain has been heralded by thought leaders as the greatest confluence of technology since the invention of the internet. It allows a multitude of applications, such as peer-to-peer smart contracts, the creation of digital assets, and data collection.

The strong social impact of blockchain can be highlighted with the example of Digital Arts for Social Impact (DASI), said Raj Kapoor, strategic advisor to Acryptoverse, a blockchain and crypto advisory firm.

He said the initiative is an innovative collection of NFTs minted on the blockchain in collaboration with artists around the world. The proceeds of the sales of these NFTs go towards the education of underprivileged children and improving their living conditions in rural communities around the world.

NFTs represent a new and novel approach to achieving equity in society while also rewarding donors with potentially invaluable digital assets. More creators and entrepreneurs are bound to collaborate and expand the horizon of NFT-based fundraising, benefitting more of humanity and fostering a better world for future generations.

Original Source: https://www.moneycontrol.com/news/business/cryptocurrency/nfts-bringing-about-the-next-level-of-funding-social-causes-8377161.html

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