“The reversal of the recent capitulations in the crypto space is a very encouraging indicator that investors continue to see value as new information and cycles take hold. The events of the past few days reveal that crypto assets are on the move. above equity gain lines, with major indices relatively flat. While not necessarily showing a decoupling from recent performance, divergence over a longer time frame could mark a significant shift,” said Simon Peters, analyst eToro crypto asset expert.
Ethereum soars on the date of the merger
The price of Ether soared when it became known that the “merger” of the Ethereum blockchain already has a provisional date. The price of Ether started to rise on Thursday as the Ethereum shadow fork went live.
According to Peters, “This fork was the latest in a series of tests for the upcoming Ethereum network ‘merger’ and was implemented to test the upgrade on a more intensive network. The final test is scheduled for August 11 and the ‘ merger’ of the main network for September 19”.
“The positive jump in the price was directly correlated with the spread of the news that the test had been a success. This is a good indicator of investor sentiment around the ‘merger’, which has been touted as a major game changer for the blockchain and its related token. The move to proof-of-stake has the theoretical potential to cause Ether to go flat, and investors appear to be locking in their positions in advance,” he added.
Polygon chosen by Disney
Blockchain company Polydon was chosen for the Disney Accelerator, a business development program aimed at highly innovative companies. In its announcement, Disney said it wanted to focus on augmented reality, NFT, and Web3 technology in its latest round.
“It’s very encouraging to see a culturally influential company like Disney dedicate itself to developing companies that champion these issues. Time and time again we’ve seen that despite market adversity, the big players remain willing to support and develop emerging projects, a true indicator of the potential that the sector continues to have,” said Peters.
According to eToro’s crypto asset expert, Polygon will benefit from the input of a large and mature company that knows how to make the most of digital and creative media. The company, which provides blockchain technology for building decentralized applications (DApps) and uses the MATIC crypto asset, already has a variety of projects on its chain focused on entertainment, sports, and gaming that will greatly benefit from Disney’s input. .
More cryptocurrency news
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Ethereum soars after confirming a key change
Is the crypto winter over? This is what analysts say
Source: Ambito
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