Connect with us

Hi, what are you looking for?

CRYPTO

Ethereum and Polygon Rises 17% Over Meta’s NFT buzz.

Ethereum and Polygon Rises 17% Over Meta's NFT buzz.

Amidst the crypto carnage, Ethereum (ETH) and Polygon (MATIC) shot up to 17 percent on Friday on the back of robust volumes and good news movement.

According to media reports, Meta (formerly known as Facebook) has started distributing NFTs to some US content creators on its main social network, and the discussed NFTs are mostly based on Ethereum and Polygon blockchain.

On Friday, the second-largest cryptocurrency asset climbed as much as $1,105 in a single day, from its 24-hour low of $1.010. However, it was trading at $1,067.81 when prices were last updated at 15:15 IST on Friday.

Even though investors appeared to be concerned, the buying and selling volumes of Ether increased by 15 percent over the previous 24 hours as the value of Ether reaches more than $18.4 billion.

The cryptocurrency Polygon, which trades for about $0.60 per coin, soared over 17% to $0.4597 from $0.4224 on Tuesday. However, at the same time, it reduced its beneficial characteristics by more than half to $0.4743.

The second-largest crypto currency, at the time of drafting this article, had a complete market capitalization of around $130 billion, whereas Polygon, the 18th largest crypto asset, had a total value near to $3.8 billion.

According to a ConsenSys-funded crypto news site, Decrypt, Meta will rapidly add support for NFTs on Solana and Flow in the future.

In his tweet, Meta Product Manager Navdeep Singh shared a sneak peek of what NFTs will look like on Facebook.

Customers may have a “digital collectibles” tab on their Facebook profiles where they can show off their NFTs, unique blockchain tokens that represent ownership, according to the article.

According to different information, the Ethereum 2.0 era is emerging rapidly. The buzz is increasing as more people get ready to discover what the Ethereum beacon chain will provide as the Ethereum ‘merge’ approaches.

At the conclusion of the call, Edul Patel, Co-Founder and CEO of Mudrex, informed reporters that Ethereum builders demonstrated they were capable of swiftly performing an intensive fork upgrade on one of several tests in the community.

“The ‘Merge’ will move the Ethereum blockchain from a Proof of Work to a Proof of Stake consensus mechanism. The transition to the ‘Merge’ gets closer with this hard fork upgrade,” he continued.

Advertisement. Scroll to continue reading.

The technicals indicate that the day-by-day pattern for ETH-BTC is heading into an ascending triangle sample, according to WazirX Trade Desk.

Click to comment

Leave a Reply

You May Also Like

NFT

A Quick Intro to Bored Ape Yacht What is the Bored Ape Yacht Club? Its very simple, its punk rock at its finest –...

CryptoKitties

CryptoKitties have really become one of the most famous Crypto games played on the internet as people are not only enjoying the game but...

NFT

When first dipping your toe into the world of non-fungible tokens (NFTs), it’s great to discover there are a variety of different marketplaces available...

CryptoPunks

The sudden increase in punkish prices is mainly due to the increase in cryptocurrency prices, the increasing popularity of the NBA Top Shot Dapper...

NFT

For a lot of us, trading and flipping is something we’ve done since childhood. From comic books, stickers, trading cards to toys, anything we...

NFT

Its 2021 and there is a massive explosion of the idea so called Non-Fungible-Tokens, all over the world. While many people familiar with the...

NFT

Beeple, a name that sounds so Pokemon, and so was the Art world. Really, the art world before 2021 or before NFT was really...

NFT

Non-Fungible-Tokens or so-called NFT’s have literally shocked the art industry and paved a way for Artists and Digital Artists to make good money from...

Advertisement