X

William from Baltimore

Registered at the crypto broker Bitfinex 45 minutes ago.

» Try Bitfinex too
Do not show again

Below we address the ongoing rise of both Polygon and NEAR and how this looks going forward.

What’s happening with the Polygon blockhain and MATIC?

In its most recent round of partnerships, the Polygon blockchain is yet to confirm if its major innovation can have a beneficial influence on the status of the Polygon (MATIC) coin, even though such partnerships may further enhance the condition of crypto acceptance.

Stakeholder demographics were one of the only domains outside of cooperation where Polygon saw progress. The quantity of stakers in the Polygon network increased by 5.34% in the previous 30 days, as per Staking Rewards. However, the revenue produced by the stakers experienced a dramatic fall. The income dropped sharply last month by a staggering 39.13%. Furthermore, Polygon will find it challenging to maintain the expansion of the stakeholder base if the income keeps dropping.

An ideal moment for the coin?

Another encouraging development was the enormous increase in network expansion that Polygon noticed. Over the last month, a considerable increase in Polygon’s network size shows that further fresh addresses were transmitting their MATIC coins for the first time. The rise in the of daily user addresses over the previous 30 days would be evidence of the Polygon network’s high activity rate. This boost in the number of active accounts addresses might foreshadow future development.

The inevitable bearish downside

Despite Polygon’s increased activity, its volume stayed unstable and had significant swings throughout the previous month. Also significantly declining was Polygon’s Market Value to Realized Value (MVRV) ratio, which can be seen as an unfavorable sign.
Regardless of the increasing number of partnerships and everyday activity on the blockchain, MATIC was a sufferer of the bear market. Additionally, its volatility decreased, indicating that purchasing Polygon would be a far less hazardous option for investors.

A snapshot of the the NEAR protocol

When it comes to active users, NEAR protocol has seen a significant uptick. The Sweat Economy, a move-to-earn application similar to STEPN, may cause this increase. On October 15, Messari, a well-known cryptocurrency analytics company, tweeted that the NEAR platform’s daily active user count had sharply increased. Additionally, with “Sweat Economy,” the NEAR protocol surpassed several of its rivals.

The growth of the network

Over the previous few days, the platform’s staker population has also increased significantly. The NEARCON 2022 event in Lisbon, which presented the finest of the NEAR network and community, showed that there are currently 20 million members, twice the 10 million member count in July this year. Sweat Economy brought 14 million new customers to the Near Network through its own move-to-earn application. After experiencing a decline on October 12, the number of stakers increased by 0.48% over the previous week.
The data supplied by Staking Rewards shows that the staker revenue has consistently increased. Additionally, the potential revenue from betting NEAR risen by 9.76% in 2022.

The growing staker revenue may be responsible for the stakers’ enthusiasm. Nevertheless, the increase in development activities may have increased interest among investors and traders. NEAR’s development activity increased dramatically over the previous month, indicating that the NEAR protocol team may be working on fresh improvements and enhancements.

This increase in development activity may also push traders to buy NEAR on long. But before they decide, they should consider the weighted mood of NEAR. Over the recent days, the weighted attitude against the NEAR procedure has decreased. This suggests that the general public’s opinion of NEAR may be somewhat unfavorable.

Wrapping it up

In a nutshell, any sudden change in the market can cause a significant change in the cryptocurrency world and both Polygon and NEAR are no different. We’re in a bear market after all, so sudden upswings are always a welcome surprise. Keep following Crypto Lists for more news regarding exchanges, platforms, DEXs, and more.

 

by Our Certified Author
Newsflash
    Crypto.com Visa card now integrated with Apple PayCrypto.com Visa card now integrated with Apple Pay
    Tuesday, 27 Feb 2024 8:39 pm
    In exciting news for fans and current holders of the Crypto.com Visa Card, the company has today announced integration with Apple Pay - a much anticipated and desired customer need. Good stuff! Especially as we enter a fully fledged bull market. Some of the things to expect are the ability to make contactless purchases using Face ID or Touch ID. Bear in mind this is only available for EU customers at this moment in time. Fancy getting your hands on one? Sign up for Crypto.com's card and take advantage of this new integration...
    Read the full newsflash


    Crypto.com launch staking functionality with 11.6% APRCrypto.com launch staking functionality with 11.6% APR
    Monday, 10 Jul 2023 10:41 pm
    One of the most popular crypto platforms got their own app and we made a review of Crypto.com's app here. They just launched staking functionality with the click of a button. Now, you can stake Ether (ETH) with 3.8% yearly interest rate, while Solana (SOL) gives around 6% APR and Polkadot (DOT) gives around 11.6%. Not bad right? If you https://ssladmin.cryptolists.com/reviews/are ready for staking, then sign-up for Crypto.com App now! They will most likely add lots of new coins and tokens in the near future with...
    Read the full newsflash


    Crypto.com to close exchange to US institutional investorsCrypto.com to close exchange to US institutional investors
    Monday, 12 Jun 2023 8:49 am
    Famous crypto exchange and major brand Crypto.com (review) is set to keep its name as an arena sponsor in Los Angeles, but the exchange will cease operations in the United States for institutional clients. In another battle in the ongoing war between the crypto space and US government, from 21 June the changes are set to take effect. The exchange cited "limited demand" from institutional customers in light of the "current market landscape." and reiterated that this will not affect retail. In positive news, the Crypto.com App will continue to be available for US insitutional investors. This is a win for the space in a week where the US SEC sued both Binance and Coinbase for alleged violations. You can try the app here and trade tons of different pairings...
    Read the full newsflash


    Crypto.com follows Coinbase in slashing 20% of headcountCrypto.com follows Coinbase in slashing 20% of headcount
    Friday, 13 Jan 2023 8:14 am
    In news that's never nice to talk about, Coinbase have announced job losses. Following very similar announcements from fellow giants Coinbase, the app and exchange site that sponsored Qatar 2022 said global economic downturns, and the fallout from FTX's bankruptcy as some of the main drivers. You can read more from the Crypto.com CEO - Kris Marszalek - on his Twitter account. Crypto.com remains a huge platform with incredible features and will thrive in as market conditions improve we're sure...
    Read the full newsflash

New Casino Reviews
New Crypto Casinos
Best Crypto Casinos
Recent Crypto Sites
Recent Crypto Coins
Keep up to date with
 

Our Newsletter

Sign up to our newsletter to get the
latest crypto news, new casinos,
bonus offers and other exciting
exclusives.
* indicates required
CryptoLists.com
Copyright © 2019-2022, by Crypto Lists Ltd (CryptoLists.com). Company name: Crypto Lists Limited. Address: 5 Upper Montagu Street, LONDON W1H 2AG, England.
Jump to top