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Polygon Token Price Analysis – New All-Time High This Week For MATIC?

As of February 15, 2022, Polygon token MATIC has scaled its price to $1.79 with a 24-hour price change of +11.14%.

MATIC posted a low of $1.60 and a high of $1.79 with a trading volume of $1,196,485,293.19, up by 36.32% in the last 24 hours.

According to Crypto Predictions, the price might rise as high as $2.300 throughout February and has the tendency to fall as low as $1.230.

Some analysts estimate the price to hit $1.447, which is lower than what financial experts have set their sights on.

Within the second quarter of 2022, the upward trend is forecast to increase.

In April and June, the anticipated price range is between a high of $1.257 and a successive low of $1.887, respectively.

The average price for April, May, and June is expected to be $1.479, $1.494, and $1.510.

MATIC total market cap at $13.54 billion in the daily chart | Source: TradingView.com

Related Reading | Why Terra (LUNA) Will Reward Users With New Community Bounty Program

Most crypto experts believe that MATIC will continue to gain traction in the long run since there are great chances that investors will continue to pay more attention to it.

In 2023, the average rate is seen to hit $5.68, with a minimum of $5.29. At the end of that year, the coin’s highest trading value is seen to be around $6.51.

Polygon Token Expected Price Rise

In the coming days and weeks, the price of the Polygon coin is seen to increase even more based on the technical analysis discussed above.

Its price may soar further now that the bearish trend line has been breached.

Based on current indicators, if MATIC can break past its current resistance level, it might reach exceed $2.00.

Its price may climb in the days ahead. A new all-time high is possible if Bitcoin continues its upward trend and MATIC keeps its own steady momentum.

Market Changes Affecting MATIC’s Value

Meanwhile, new projects find their way into the Polygon network, increasing Polygon’s market value.

Aside from additional consumers, the number of developers in Polygon’s ecosystem is growing as well.

For example, Polygon has reached a significant milestone with the recording of 11,400-plus developer teams in its system.

In addition, Polygon is also gaining more institutional investors’ support.

Sequoia Capital has made a $450 million investment in the current Polygon fundraising round.

Polygon’s growth is aided by these investments which, in turn, raises the price of MATIC as a whole.

Related Reading | Scaramucci’s Skybridge Capital Launches Ethereum Fund

Featured image from Blockchain News, chart from TradingView.com

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Axie Infinity Smooth Love Potion (SLP) Explodes With 300% Gain This February

Smooth Love Potion (SLP) is skyrocketing in value just prior to the launch of Season 20 of Axie Infinity, the world’s most popular play-to-earn blockchain game.

In a matter of days, the SLP token triples in value. As of February 12, 2022, SLP is now selling for $0.027 with a 24-hour range of.024 -.032.

The in-game currency has a market capitalization of $927,503,521 and a trading volume of $1,365,400,410 during the 24-hour period.

SLP is now the 102nd largest cryptocurrency by market value.

The rally occurs following a significant update to the game’s economy, which removed player benefits for completing key in-game tasks, such as Adventure Mode SLP and Daily Quest SLP.

Axie Infinity: How Does It Work?

In the world of play-to-earn games, Axie is a well-known title. Its gameplay is inspired by classic games like Pokémon and Tamagotchi.

Players can gather, breed, combat, and trade “Axies” in the game. SLP tokens are earned as rewards and can be redeemed for in-game features such as breeding new species.

SLP/USD price at $0.028230 in the daily chart | Source: TradingView.com

Related Reading | Binamon NFT Game, on the Way to be the Next Axie Infinity on Binance Smart Chain

SLP is an ERC-20 token that acts as an in-game currency in Axie Infinity, a popular blockchain-based game.

Axie Infinity allows users to collect one-of-a-kind digital creatures called Axies.

Axies are NFTs that can be bred, sold, or used against other players in combat. The Axie Infinity game utilizes a multi-token economy and Axie Infinity Shards (AXS) as the ecosystem’s governance token.

SLP cryptocurrency is used in-game to support Axie breeding. The Axie Metaverse allows for the buying, selling, exchange of other cryptocurrencies on supported exchanges.

How Does Axie Rewards Work?

One of the most recent updates to Season 20 appears to be a 56% reduction in the daily supply of SLP tokens.

SLP will be removed from daily questing and adventure mode, further increasing the token’s scarcity.

SLP/BNB was added as a trading pair on Binance earlier this week, allowing traders to now exchange BNB for SLP on the exchange.

When tokens are listed on a major exchange such as Binance, they frequently experience a price increase as the token becomes more accessible to new investors.

While Axie Infinity’s SLP has seen significant increases in recent months, it remains well below previous highs. Only seven months ago, the SLP token has been trading at $0.39 per unit.

Meanwhile, the game continues to attract an increasing number of players and investors.

According to Crypto Records Australia, an Axie Infinity land plot NFT sold for a record-breaking US$2.48 million in November.

Related Reading | Philippine Government Requires A Cut In Profits From Popular Games Like Axie Infinity

Featured image from Crypto Economy, chart from TradingView.com

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Gold-Backed Tokens Outperform Crypto Market. Further Upside Coming?

The crypto market has been on a recovery trend lately. Even with the market crash, it had already marked a year of massive returns for investors in the space. As is expected with a space with high volatility, crypto assets had begun to crumble in value. But despite the profitable year for cryptocurrencies, a subset of crypto tokens had made their mark as the assets with the highest returns, and they don’t look to be stopping anytime soon.

Gold-Backed Tokens Surge

These gold-backed assets have helped to increase the liquidity of gold by enabling the ownership of small fractions of gold. Physical gold is somewhat limited in its supply and tokens like this have provided an avenue for investors to get in on the millennium-old asset. These tokens follow the price of a commodity, gold in this case, in the same way, that stable coins follow the price of the fiat currency they are pegged to.

Related Reading | Crypto Market To Drop 80% Like Early Internet Company Stocks?, Why This Analyst Thinks So

Unlike gold ETFs, gold-backed crypto tokens allow investors to own a part of a physical gold bar, whereas investors are mainly betting on the price of gold with ETFs. Furthermore, investors are able to redeem their gold-backed tokens for physical gold whenever they want.

These characteristics have drawn more and more investors to these commodity-backed crypto tokens and as a result, the price of these digital assets has grown tremendously. So much so that these assets have been able to outperform the crypto market at large.

Gold-backed tokens outperform crypto market | Source: Arcane Research

Two of these gold-backed commodities have recorded the highest growth; Tether Gold (XAUT) and PAX Gold (PAXG). These two crypto assets have grown to a market cap of $409 million and $358 million respectively, marking a significant growth year for each asset.

Beating The Crypto Market

Even with the crypto market marking several bull runs in 2021, gold-backed tokens have managed to outperform the market. In 2021, the overall crypto market had grown a total of 150%. In contrast, the gold-backed token market surged as high as 360% in the same time period, returning more than twice that of the broader crypto market, with PAX Gold and Tether Gold leading the charge.

Crypto total market cap at $1.95 trillion | Source: Crypto Total Market Cap on TradingView.com

Other commodities-backed crypto tokens have also begun to gain prominence in the market. Others have emerged that have been tied to silver, palladium, and even oil, but all of these have been met with obstacles that they have found hard to scale, stunting their growth.

Related Reading | Why Is Talent Leaving Silicon Valley For Crypto Companies? Recruiters Explain

Nevertheless, the gold-backed tokens have shown that commodities-backed tokens do have a future in the market. With growth expected to continue across the crypto market, these tokens may be on their way to being one of the most profitable subsets of crypto investments in the space.

Featured image from Finance Magnates, charts from Arcane Research and TradingView.com

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Shiba Inu Builds Real Estate In The Metaverse, Pushes LEASH, SHIB To Rise 50%

The innovators of the popular meme coin Shiba Inu announced that the protocol will soon offer plots of virtual land in a soon-to-launch metaverse, causing the value of ecosystem tokens such as LEASH and SHIB to surge by nearly 50%.

Metaverses are a broad concept that refers to a virtual domain in which individuals can interact in the same way they do in the real world, only digitally. The concept has gained traction in recent years, with metaverse tokens such as Decentraland’s MANA and Axie Infinity’s AXS now valued in the billions of dollars.

“The Metaverse will be one of the most exciting areas of cryptocurrency for people to enjoy. Utilizing it as another fantastic resource for providing incentives, content, and monthly royalties to the crypto community,” the developers of the Shiba Inu disclosed in a blog post.

What Can We Expect From Shiba Lands?

Dubbed as the “Shiberse”, the metaverse property development will serve as the Shiba Inu ecosystem’s arm in the virtual domain. Shiba Lands and its unique auction system will be a major component of the Shibverse.

The Shiberse competes with other metaverse ecosystems such as Decentraland, Sandbox, Gala Games, and Axie Infinity. Despite being new to the metaverse, Shiba Inu has already piqued investors’ interest.

Retail investors have already flocked to SHIB because of the coin’s sporadic solid growth over the previous year. The queuing method for its land release is intended to avoid the exorbitant gas expenses experienced during the Shiboshi NFT launch last year.

Total SHIB market cap at $7.98 billion in the daily chart | Source: TradingView.com

Related Reading | Shiba Inu Enters The Metaverse, But Will This Help Its Price?

The company announced that the queuing system will make the procedure fair and seamless for their community globally.

Notably, in conjunction with the news, the price of Doge Killer (LEASH) increased by over 40%. In addition, the Shiba Inu team hinted that there would be additional “collaborations.”

SHIB Regains Top Position On Whale Addresses

As of now, Shiba Inu has recaptured top place on whale addresses, with $1.7 billion in tokens held by investors on the Ethereum network.

After the cryptocurrency market comeback, Shiba Inu’s popularity surged. Shiba Inu has almost doubled in value from the local low on February 5.

The token’s price topped out at $0.000035 before retracing to $0.000029, well below the $0.00003 mark. Despite the token not hitting new highs, traders could defy selling pressure and keep the asset above $0.00003.

However, whales have chosen to accumulate extra tokens while the currency sells at a large discount. Another Shiba Inu whale has joined the network, amassing 3.4 trillion SHIB worth $115 million.

While Shiba Inu regained its throne yesterday, market movements reduced whale holdings to $1.7 billion. Previously, many short positions were opened for no apparent cause, indicating a market overheat.

Despite Bitcoin’s $45,000 comeback and the altcoin market’s general recovery, open interest data show that most traders still expect a negative trend to continue.

Meanwhile, SHIB has dropped 8% in the last 24 hours after surging about 40% on Monday and Tuesday. At the time of publication, the token was trading at $0.000033.

Related Reading | Shiba Inu Barks At Bears With 25% Gains, But Social Media Continues To Trend Dogecoin

Image from Coingape, chart from TradingView.com

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Quick History: The War On Tokens & Crypto Bans

Since the drop of the first token in 2009, there has been a battle for control going on within the digital world. This war is generally financially based, as countries try to secure greater control and grip on decentralized exchanges and cryptocurrency.

Here is a brief look into a few different perspectives from countries that have tried to close the door on cryptocurrencies.

A Brief Look Into The Hate

We’ll take a fundamental look at crypto’s history for those who are less familiar on details that can impact geographical and geopolitical perspectives. For those who are less familiar around cryptocurrency and it’s history we will take a quick dive in: the first crypto coin to bless us was Bitcoin in 2009. Starting as an idea on paper, it grew into a $50K+ top dog coin and blockchain that is finding it’s way into New York’s stock market via ETFs.

With its 9,000,000% rise in the last decade, it’s safe to say Bitcoin is the founder and start of where this war begins.

        Related Reading | Bitcoin Back to $64K?, Why This Time The Bulls Have The Winning Edge

As time progressed and Bitcoin grew, more coins started to arise and make a mark in the world of digital currency. In 2013, China attempted to ban the coin, and label it an insufficient and illegal currency. 

At a high level, what makes these coins a hot commodity to control is the ability to use these coins across the web to buy and purchase many things both online and off. On top of that, it has formed into the new “gold rush,” as young and old investors took a liking to the profit and growth of these coins – especially Bitcoin.

Bitcoin has long positioned itself as the top dog and face of crypto.: BTC on TradingView.com

The first to enact an official ban was Bolivia’s central bank, as they banned all forms of currency that were not regulated by the government, including Bitcoin and other cryptocurrency across the world in June 2014. Many other countries have since created loopholes and laws to regulate and/or ban these coins.

Egypt has not yet made the ban official, but according to Sharia law all crypto currency is prohibited, according to the Islamic legislation. Many countries fear that these coins could become more damaging then helping for their economy, and the “war” around crypto has led to some countries enacting laws accordingly.  

Related Reading | Value Of Ethereum Held By Miners Reaches Five-Year Record Level

The Latest “War”: China’s Ban

This year, China made headlines again by indefinitely banning all cryptocurrency and crypto-mining. The Chinese government proceeded to have banks and exchanges shut down crypto-related activity. This really is no surprise after their attempts stemming back to 2013; meanwhile, their approach (or one similar) has also been adopt from countries like Turkey, Algeria, Bangladesh, Egypt, and Bolivia. Additionally, the UK dropped the hammer on Binance for not meeting money laundering requirements.

It is especially difficult for countries, states, and cities across the globe to regulate and monitor the activity on the blockchain, and how we use this new form of currency – emphasized by it’s mystique and ability to stay below the radar when it comes to making transactions.

What countries will do battle in this new era of financial war?

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Sheesha Finance Liquidity Generation Power

News BTC is mostly a price prediction platform. After writing about the cultural side of crypto for near four years, I’ve come to learn a thing or two about the correlation between leader, community, and price.

Even though I have no qualifications or desire to be a price predictor, I’ve made great friends here who it becomes easier to navigate the projects that have their foundations correct. The Defi burn is on, and I’m privileged to have chosen and accepted the ‘Artistic Ambassador’ title for Sheesha Finance.

Sheesha Finance is a Decentralized Finance venture founded by Saeed Hareb Al Darmaki. The strong team assembled to bring this venture into reality has been vetted by many community members, and approved to make the DeFi story even more interesting.

“VESA has proven himself to be a leader in the digital art space which is not something that happens overnight. He has worked tirelessly at his craft for years, earning him features in Forbes and allowing him to work with very famous crypto infuencers. We are honored to have VESA as our Artistic Ambassador, guiding us in the decision-making of what artists to bring into our ecosystem and working with our community to educate and deliver quality content.”- Saeed Al Darmaki

The King’s Decentralized Deer

“If it is illegal for a man to fend for himself, how can he be a man in his own right?” -Robin Hood

Speaking of content, here is a thought and myth made visible in modern times. We undoubtedly are living through an unprecedented time in world history with COVID. Despite the rhetoric of “We are in this together” by most passing the lockdown laws, they keep having their paychecks show up, as they wish those well who have no such luck. The deer have been claimed by the king, leaving most with chasing rabbit meat.

While this might feel like a blessing to vegans, the green supply chain is equally affected, and there is a weird increase in supplement prices and kale lately. In this way, perhaps not all health risks this brings us are considered. For that problem, the crypto and DeFi space offer people the freedom to choose the risks they take. The defi space is a continued evolution of the power of the internet & free education for those who choose it instead of the latest episode of reality TV.

This is why I think what the COO Benjamin Leff has to say here matters.

What excites me most about Sheesha Finance is the unique model we have designed that allows exposure to top DeFi projects by way of partnerships and rewards to our stakeholders. Many of these partnerships come from direct relationships with Sheesha Finance team members and advisors. By partnering with such strong projects, our community members will receive tokens of merit. Over time we will turn our project into a Decentralized Autonomous Organization (DAO) leaving the decision-making to our community! – Ben Leff

There is no closed pre-sale, top rewards, nor hierarchy other than first movers. It’s designed for free will to participate for those who can, and all are welcome to join the community.

As for vetting the project properly, and OG advisory side, here are some words by the one and only Mr. James Bowater, London’s resident crypto insider.

I was super impressed with the team behind Sheesha Finance. In fact Saeed Al Darmaki is member of a few of my WhatsApp community groups. Of course you know Ben Leff which I found out by virtue of his work with Brittany Kaiser. Knowing other folks in the DeFi space like my good friends Stani Kulechov and Julien Bouteloup, one thing I know that is essential is the veracity and security of the coding of the smart contracts and so the final part of my decision process was being satisfied with the audit. I was delighted to find out my good buddy Hartej Sawhney of Zokyo.io was not only doing the audit (which Sheesha passed with flying colours) but also joining the advisory team. Since joining Saeed some other familiar and friendly faces have come on board – essentially a great team for a great project which I’m delighted to support. – James Bowater

NFT & Us

As my first token of appreciation, I made this NFT, which will be given as a limited to early investors gift. The blockchain coal the sheesha liquid smoke from tells a tale of gentle power. In collaboration with the temperatures, water is the most adaptable of substances we know. It is known the give the right conditions for life, where ever it appears.

Work: Community Drive
Mixed media digital NFT
For Sheesha Finance by VESA

DYOR Easy

The last but punchy quote of today is by Mr. Matthew Armstrong from Royale Finance.

“The partnership with Sheesha Finance is extremely important for us. It provides the much-needed distribution stability lacking in most DeFi ecosystems today. This mutually beneficial partnership helps Sheesha expand its network partners and reach while providing Royale network participants an interesting investment avenue through Sheesha’s liquidity generation events.” -Matthew Armstrong

For a further deep dive, check out this Medium article on Sheesha Finance.

I’ll soon be traveling back to Dubai to meet some old friends, as well as make new ones. Can’t wait to feel that desert sun on my face.

In the meanwhile, I wish you blessed stakes.

V E S A
Crypto Artist
All links to physical, NFTs, and more below
http://linktr.ee/ArtByVesa