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Web3 Reinvented: Polygon Labs, Sequence Join Forces To Transform Infrastructure

The Web3 industry offers a diverse range of services, creating a dynamic landscape for individuals. A notable development in this space is the recent partnership announcement by Horizon, the creators of Sequence, aimed at redefining Web3 infrastructure.

This collaboration has had a significant impact, particularly on Polygon’s governance token MATIC, which experienced a notable increase of nearly 3% within the past 24 hours. This bolstering of the infrastructure signifies a positive step forward for the Web3 ecosystem.

This development came a day after Polygon’s blog post detailing the release of the v0.9 Testnet for Polygon’s Supernets. Once the final release of Supernets is launched, this partnership will surely affect the dominance of Polygon in the Web3 space. 

Web3: Scalability, Seamlessness For Developers On Polygon

The seamless integration of Sequence’s smart wallet and infrastructure stack on Polygon Supernets will pull business enterprises into the ecosystem. Polygon Supernets are custom-built blockchains for specific apps. The most important of these customizations is a custom blockspace, ensuring that the user experience isn’t affected by bumps in activity on-chain. 

Sequence’s all-in-one development stack is the main attraction for both developers and investors. It is a complete package, covering tokens and NFTs to SDKs, the stack will fuel on-chain development as the release of Polygon Supernets nears. 

To further push growth, both Polygon and Sequence will offer credits to incentivize developers to build on the platform. In doing so, the strategic alliance will have a strong effect on how quickly the Web3 infrastructure will improve. 

This isn’t the only move by Polygon to improve Web3 infrastructure. Recently, Polygon invested in Antimetal, a cloud-based platform, in a seed funding round led by Framework Ventures. With Polygon’s entry into the world of cloud infrastructure, we might see more developments in the space led by Polygon itself in the near future. 

Investors Should Watch This Level 

At the moment, MATIC is supported on the $0.8339 level which is crucial for ensuring future gain. However, the current market structure is bearish, supporting the bears in the short to medium term. Thus, MATIC bulls should defend $0.8339 as much as possible. 

With on and off-chain developments backing the token, MATIC might see a return to $1 in the coming days or weeks. Despite this, investors should be cautious in the short to medium term. Ethereum’s recent upward swing caused the altcoin market to follow as well. 

If these price swings continue to move upward, MATIC’s rise to $1 is secured. With the market showing signs of strength, investors and traders should be able to enjoy gains in the long term. 

-Featured image from DailyCoin

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Polkadot (DOT) Price: The Bear Vs. Bull Battle Continues – Who’ll Take The Beating?

Since the beginning of this year, Polkadot has been on a roller coaster ride as the general cryptocurrency market has fluctuated over the past months.

Recently, the price of Polkadot (DOT) has experienced negative sentiment, causing a slight decline in the coin’s value.

The coin’s price slightly decreased from $5.51 to $5.12 on May 9, 2023. However, it started to gain further positive momentum the same day and recovered to $5.3 today.

Strong Bearish Momentum

The price of DOT has been trading sideways within the last 24 hours, indicating a bearish trend. As a confirmation of the bearish momentum in the Polkadot market, the 24-hour trading volume is down by 18%.

The decline indicates a decrease in demand for DOT in the market and might lead to greater volatility as traders adjust their position based on the market sentiment.

Polkadot’s current market cap is estimated at $6.1 billion, with a market dominance of 0.56%. But the increase in selling pressure has impacted the price of Polkadot significantly.

Polkadot is in the phase where investors and traders are afraid to buy or hold the coin. As investors take advantage of the current dip in price to acquire more DOT, anticipate a modest recovery in the coming week.

Polkadot (DOT) Technical Analysis

DOT trades below its 200-day and 50-day Simple Moving Averages (SMA). This indicates that DOT has a bearish momentum in both long-term and short-term trends. 

The Relative Strength Index (RSI) indicator shows that DOT currently reads 32.92. This indicates that the coin is slightly in the oversold region. It also suggests that DOT is experiencing some downward pressure. However, the asset may rebound from its oversold condition and return to a normal trading range.

The MACD indicator also confirms the bearish trend as its trading below the signal line. This indicates that the bears have more pressure than the bulls.

Recent Development In Polkadot Ecosystem

Meanwhile, the number one gaming blockchain platform, Mythical Games, is departing from the Ethereum network to launch its new Mythos ecosystem on Polkadot. 

The recent development will allow Mythos gaming partners to build the biggest and most connected gaming ecosystem in the Web3 industry.

The development will result in a new scalable platform, accessible to all Mythos partners and compliant with Web2 gaming platforms, including the Epic Games Store.

Polkadot (DOT) Price: The Bear Vs. Bull Battle Cantinues, Who'll Take The Beating?

This accessibility is a core principle for Mythical as it continues to bridge the gap between blockchain and traditional gaming.

The Mythical Games founder proclaimed that the decision to leave the Ethereum ecosystem was due to the slow transaction speeds and other issues around the network.

This partnership will also benefit the Polkadot ecosystem as Mythical has an advanced feature, streaming technologies, and Web3 gaming expertise. It will also drive the massive adoption of both Polkadot and Mythical.

-Featured image from Pixabay and chart from Tradingview.com