Ethereum L2’s to keep an eye on in July

Ethereum L2’s to keep an eye on in July
фото показано с : coinjournal.net

2022-6-29 00:13

Polygon and Loopring are gaining upside momentum ahead of the Ethereum merge.

Key points:

Polygon is trading sideways as the rest of the market drops, indicating buyers are still in the market.

Loopring is making a V-shaped recovery, indicating that bulls are entering the market ahead of the Ethereum merge.

Both Polygon and Loopring have strong odds for growth over and above hype around the Ethereum merge. 

Ethereum ETH/USD is in the process of an upgrade to Ethereum 2.0. According to tweets by Ethereum core developers, the move to Ethereum 2.0 is expected to be completed by August 2022. The implications will be positive not just for Ethereum but also for Ethereum layer-2 solutions. Among the cryptocurrencies that are expected to benefit immensely from Ethereum’s shift to a Proof-of-Stake chain are Polygon and Loopring.

Polygon prospects in 2022

After a rally between April 22nd and 24th, Polygon MATIC/USD bulls lost momentum. However, unlike most heavily bearish cryptocurrencies, Polygon is now directionless. 

Source: TradingView

This indicates that bulls still have a significant presence in the market, and can be linked to the upcoming Ethereum merge in August. If the merge comes and Ethereum gains upside momentum, Polygon, too, could see an increase in adoption. In such a case, the critical level to watch would be $0.618, a fundamental resistance level in the very short term. If this resistance is broken, and Polygon holds above it until the Ethereum merge, it could easily retest prices above its most recent highs in the short to medium term.

Besides the hype around the merge, there are strong underlying factors that could see Polygon keep gaining in value in the future. The most important one is that Polygon already has a strong ecosystem of Dapps running on top of it. This means that the Ethereum merge will only augment the number of projects running on the Polygon chain. This will add to the intrinsic value of MATIC tokens since MATIC is the native token to the Polygon ecosystem. 

The fact that Polygon is a deflationary token further adds to its potential to rally going into the future. 

Loopring prospects in 2022

Loopring LRC/USD is another Ethereum layer-2 solution that has the potential to rally once the Ethereum merge happens. Already its price action is showing potential anticipation by investors of a rally. 

For instance, after a dip between 25th and 27th, Loopring is making a rebound. When writing this article, Loopring was making a V-shaped recovery, and if the merge happens, Loopring could see a sustained rally that could extend throughout the year.

Source: TradingView

Besides such a potential short-term rally, there is much to look forward to in terms of LoopRing’s long-term price action. For context, Loopring already has a strong and fast-growing ecosystem of Ethereum tokens trading on top of it. Fast execution speeds and low costs make it one of the best in the market.

The post Ethereum L2’s to keep an eye on in July appeared first on CoinJournal.

origin »

Bitcoin price in Telegram @btc_price_every_hour

Ethereum (ETH) на Currencies.ru

$ 1918.15 (-0.10%)
Объем 24H $3.714b
Изменеия 24h: 0.27 %, 7d: 3.93 %
Cегодня L: $1917.98 - H: $1920.07
Капитализация $231.487b Rank 2
Цена в час новости $ 1141.07 (68.1%)

ethereum eye july keep points merge key

Источник: coinjournal.net

ethereum eye → Результатов: 120


Фото:

Ethereum Struggles to Flip Crucial Trendline as Analysts Eye Move to $120

Ethereum’s price has been sliding lower over the past several days Despite Bitcoin being able to maintain above the lower boundary of its long-held trading range, ETH is now trading firmly below the range it formed over the past several weeks This points to some underlying weakness amongst its buyers which comes as it nears its crucial $220 support level It also just confirmed a “death cross” formation that hasn’t been seen since March. This […]

2020-6-30 23:00


Ethereum Open Interest Rebounds as Analysts Eye an Explosive Upside Movement

Ethereum has seen some tempered gains overnight, recapturing its position within the $240 region as it shows some signs of technical strength. Today’s climb has largely been the result of that seen by Bitcoin, as ETH has been closely tracking the benchmark cryptocurrency’s price action over the past week. This has caused Ethereum’s open interest...

2020-6-9 02:00


Фото:

Ethereum’s Macro Bear Structure Strengthens as Analysts Eye a Massive Decline

Ethereum has been able to maintain above $200 despite the recent turbulence seen within the aggregated crypto market This outperformance of Bitcoin has allowed it to gain some strength on its embattled BTC trading pair ETH is still in a precarious position, however, as analysts are noting that its macro bear structure still remains strong Analysts are also widely flipping short on ETH, with some anticipating massive downside Ethereum’s price action has been largely lackluster […]

2020-5-26 23:00


Фото:

It’s Decision Time for Ethereum as Analysts Eye Full Retrace of Uptrend

Ethereum has been hit hard by the recent market-wide downtrend Analysts now expect ETH to surrender all of the gains that it posted over the past couple of weeks Ethereum has been particularly impacted by the crypto market’s recent downturn, with the second largest cryptocurrency erasing the vast majority of the gains that were incurred as the result of its recent uptrend seen last week.

2020-4-22 23:00


Фото:

Ethereum Decouples From Bitcoin, Bulls Eye $270 Next

Ethereum and Bitcoin are both about to complete golden cross formations on their daily charts. However, while BTC tracks sideways right now, ETH is making a strong recovery towards $270. Ethereum has traders extremely bullish In a recent Bitcoinist article, we looked at a popular Youtube and Twitter crypto analyst’s perspective on whether or not a Bitcoin Bull market had actually begun.

2020-2-18 15:00


Despite Bitcoin Price Surging, Google Search Volume Is Trending Down

During the crypto hype bubble that rocketed Bitcoin and Ethereum into the public eye, making them household names and causing their values to reach all-time highs, the surge in prices was accompanied by a surge in search interest of people scrambling to find out what all the fuss was about, and to learn more about... The post appeared first on NewsBTC.

2020-1-18 20:30


Фото:

Crypto Analyst: Bitcoin (BTC) To Base At $3,500, But Bears Aren’t Done Yet

Crypto Market Puts A Pause On Tumultuous Activity, Bitcoin Finds Stability To say that crypto’s past two weeks have been tumultuous would, frankly, be putting it rather lightly. On November 13th, Bitcoin (BTC) was trading at $6,200, but since that fateful day, the eye of Bitcoin Cash’s network upgrade (a purported bearish catalyst), BTC has […] The post Crypto Analyst: Bitcoin (BTC) To Base At $3,500, But Bears Aren’t Done Yet appeared first on Ethereum World News.

2018-11-28 05:42


Фото:

3 Signs LocalEthereum Continues to Grow and Evolve

Peer-to-peer trading is taking center stage in the world of cryptocurrency. For Ethereum enthusiasts, a platform by the name of LocalEtheruem is worth keeping an eye on as of right now. The team is introducing a lot of new changes in quick succession, most of which are designed to make the platform a lot more […] The post 3 Signs LocalEthereum Continues to Grow and Evolve appeared first on NullTX.

2018-10-28 05:46


дальше еще 71 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Beyond Bitcoin and Ethereum: 8 crypto projects built on real adoption

This analysis highlights eight crypto projects with working products, measurable adoption, and utility-driven token models as market fundamentals regain focus. Plenty of investors still carry scars from the last altcoin cycle, when bold stories ran far ahead of anything the…