Bitcoin has halted declines near $19,700 and is holding above $20,000. Ethereum is again recovering faster than the 'king of cryptocurrencies' by limiting its dominance, the token is trading near $1,600:
- Meta Platforms (META.US), the erstwhile Facebook continues its efforts to implement the 'new Internet' known as Web 3.0 and meta-expression. The company has added synergistic Ethereum and Polygon as interoperable ecosystems in the exchange of NFT tokens between users of the company's apps, Instagram and Facebook;
- In the face of Mark Zuckerberg's declaration, part of the cryptocurrency market expected Meta to work on a proprietary blockchain ecosystem and not use existing infrastructure. However, the facts show that using existing blockchains is more profitable, and Meta Platforms' interest in Ethereum-Polygon interoperability may indicate its growing adoption;
- Cardano overtook Bitcoin and all other cryptocurrencies in a ranking built by the MBLM agency. The ranking was to verify users' identification with the products they use, as well as their relationship and commitment to the brand. Blockchain Cardano ranked 25th out of nearly 600 leading global brands from 19 industries. Bitcoin ranked 30th. Cardano's founder, Charles Hoskinson points out that Cardano was guided from the beginning by the idea of decentralization and co-creation of a fair financial system. Blockchain Cardano has overtaken the sentiment of investors and users of brands like Google and eBay. Cardano is preparing to implement the Vasil hard fork.
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Polygon chart, W1 interval. The cryptocurrency, which is strongly correlated with the Ethereum blockchain, has been in a strong downtrend since the beginning of the year, but is still doing better than Cardano. Support in the form of the 71.6 Fibonacci retracement has been breached along with the 100-day moving average amid weakening sentiment around digital assets. Polygon still stands to benefit from the Ethereum merge if the Ethereum transition is successful. Source: xStation5
Polygon chart, W1 interval. The cryptocurrency, which is strongly correlated with the Ethereum blockchain, has been in a strong downtrend since the beginning of the year, but is still doing better than Cardano. Support in the form of the 71.6 Fibonacci retracement has been breached along with the 100-day moving average amid weakening sentiment around digital assets. Polygon still stands to benefit from the Ethereum merge if the Ethereum transition is successful. Source: xStation5 This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
