How do I teach myself crypto trading? - cyptoranking.com

2024-05-13

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The BNB burn will be the fourth this year and the 25th overall. The importance of this hidden support is magnified by the broader market context. With the overall trading volume on the decline and the DeFi and NFT landscapes not providing the bullish impetus they once did, Ethereum needs all the support it can get, both technically and sentimentally. How do I teach myself crypto trading?The Metaverse is relatively young and does not genuinely exist, but many projects are all trying to create their own version of the Metaverse. These projects reveal the future of the Metaverse, but we can’t be certain about its evolution. We can be sure that blockchain technology and NFTs form the backbone. It's very easy in the crypto space to think that everything should happen in five minutes. Because quite a lot does happen very quickly. You have a lot of very talented, very dedicated teams who throw all their resources and intellectual capacity at problems and solve them. But we've got to remember that we are now talking about the traditional financial sector, and it does not move at that speed.

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Klein stated that even if the jury didn’t remember all the financial terms, they would remember the $65 billion. Hundreds of independent candidates have declared their candidacy in the 2024 presidential race, but few of them have attracted widespread notice. The only remaining democratic party challenger to Biden is now writer Marianne Williamson. What is the most profitable crypto trading strategy?Image: CoinMarketCapHong Kong, UAE and Thailand to launch joint CBDC projects by 2024 Polygon’s native token (MATIC) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated and was followed by a 10.6% decline over the six days leading into Oct. 10. This decline was exacerbated by negative news regarding the departure of a key co-founder and weak activity in Polygon’s zero-knowledge rollup (ZK-rollup) subnet.Polygon (MATIC) 12-hour price in USD. Source: TradingViewMATIC’s price has wiped out previous gains from the early October rally, erasing the bullish momentum driven by the expectations of the protocol’s upgrades. Rallies tend to follow mainnet and protocol updatesPolygon 2.0 is a network of ZK-based layer-2 chains unified via a novel cross-chain coordination protocol. Polygon’s 2.0 scaling technology was unveiled in June 2023 as a plan for a scaling ecosystem consisting of four layers: staking, execution, interoperability and proving. Each of these layers contributes to creating an interconnected ecosystem of chains that facilitate secure, fast and highly cost-effective transfers.Among the benefits of Polygon 2.0 are enhanced security and privacy through ZK-proofs, full compatibility with the Ethereum Virtual Machine (EVM) and instant cross-chain interactions without requiring additional security or trust assumptions. It’s worth noting that the project is continuing to develop its Zero-Knowledge Scalable Transparent Argument of Knowledge-based layer-2 solution, Miden.One could argue that the recent 10.6% retracement merely reflects an adjustment to the overexcitement triggered by the testnet launch. However, other factors may have contributed to investors’ worsening sentiment toward Polygon. For instance, Polygon’s ZK subnet, zkEVM, has lagged behind competitors in activity and deposits.Network data shows Polygon losing steam as new competition emergesZK networks daily active and transactions. Source: artemis.xyzMetrics from Artemis, an on-chain data provider, reveal a significant disparity between Polygon zkEVM’s 6,210 active addresses compared to StarkNet’s 154,390 and zkSync ERA’s 239,810. A similar discrepancy exists when analyzing the number of daily transactions, with Polygon’s ZK-rollup also trailing competitors.Taking a broader perspective on the total number of transactions and deposits in the Polygon network yields suboptimal results. For example, Polygon’s total value locked (TVL) stands at $756 million, according to DefiLlama, which is less than half of Arbitrum’s layer-2 scaling solution.Total value locked (TVL) in USD. Source: DefiLlamaIt’s noteworthy that despite being launched much earlier than most Ethereum layer-2 solutions in June 2020, Polygon is now facing direct competition from Optimism and Base.The departure of Polygon’s co-founder, Jaynti Kanani, on Oct. 4 after six years with the project also triggered some degree of discomfort among investors, given the project’s proximity to the crucial completion of its improved multiple-layer scalability solution. Interestingly, this decision follows the departure of Polygon Lab’s CEO, Ryan Wyatt, in July 2023, not long after joining the company in February 2022.Further impacting MATIC’s performance was a decline in the number of active addresses using the Polygon network’s decentralized applications (DApps).Polygon network DApps active addresses, 30-day change. Source: DappRadarOn average, the top 12 DApps on the Polygon network experienced a 17% decline in the number of active addresses over the last 30 days. This issue was particularly concerning in the NFT and decentralized finance markets, notably affecting applications like Uniswap, OpenSea and Move Stake.Related: Circle rolls out native USDC tokens on PolygonRegardless of the reasons behind MATIC’s token surge earlier in October, the recent 10.6% negative performance can be attributed to reduced network activity, the departure of a co-founder during a critical upgrade phase and stiff competition from other ZK scaling solutions. Ultimately, there is enough bearish news flow to justify this correction, although the team has been consistently delivering the necessary updates and improvements to the Polygon network. Investors should closely monitor the project’s progress in addressing these challenges and capitalizing on the innovations of Polygon 2.0.This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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