In a recent crypto buzz, Whale Alert surprised everyone by sharing news about a big transfer – 7,627,063 Polygon (MATIC) tokens have been moved from an unknown wallet to the Polygon Staking platform. This unexpected move got people talking and wondering how it might affect Polygon’s world. In another movement, aiming to push the price higher, Ethereum (ETH) has burnt $10 million of its coin, ETH. Adding to all that, the BlockDAG coin (BDAG), the newcomer to the crypto market, has set the promise to launch its mainnet in just six months, and it’s on the way to keep it. Plus, the project has a great new idea for community involvement.
Let’s delve into the article and find out more about these coins.
Polygon Whale Movement Rattles the Market
Whale Alert, a popular blockchain tracking service, has rattled the crypto market by reporting a large transfer of 7,627,063 Polygon tokens worth $6,398,799 from an unknown wallet to the Polygon Staking platform. The purchase sparked speculation in the cryptocurrency community regarding its potential ramifications for Polygon’s ecosystem.
Whale Alert revealed the details of the transactions in a tweet, creating a surge of curiosity among cryptocurrency aficionados. The transfer of such a large number of MATIC tokens from an unknown source to the Polygon Staking platform added mystery to the issue.
Ethereum Burns $10 Million
Ethereum did something pretty bold recently – it burned $10 million worth of its coin, ETH. This move is a step towards altering the currency’s economic model. The $10 million ETH burn resulted from EIP 1559, a substantial update that revamped Ethereum’s pricing system. This burning event is not a prank but a determined move to shift Ethereum’s economic trajectory.
The burning process permanently eliminates a part of ETH from circulation. It offsets the current issuance, potentially driving the Ethereum price into deflation.
BlockDAG Network: Community Involvement and Big Plans
BlockDAG is a brand-new network that operates on the Proof-of-Work (Pow) mechanism and provides users with suitable space for trading and mining. On its way to involve the community, the project comes up with a great idea for a referral system. BDAG gives a 10% bonus to all referred investors. This community involvement strategy establishes the relationship between the project and its supporters. It prompts existing community members to participate actively in the project’s growth and serves as an organic marketing channel.
BlockDAG has a straightforward and comprehensive strategy to launch its mainnet within six months. The team also have great ambitions to achieve $600 million by 2024. The recently opened presale prompted a rush to it, raising $1 million in the first 24 hours. What is in the roadmap demonstrates BlockDAG’s confidence and openness in letting everyone know where the project is headed.
Decode the Market’s Direction
The market expected a price change after spotting the large transfer to the Polygon Staking Platform and the $10 million Ethereum burned. In Ethereum’s case, it’s probable to take the way up; however, for Polygon, it’s still uncertain as the activity itself is suspicious and may have ramifications. But in general, price fluctuations cannot be perfectly predicted, and there is always space for surprises. To be on the safe side, BlockDAG’s referral system bonus and ongoing presale can serve as a more guaranteed way of making profits in the meantime.
Invest in BlockDAG Presale:
Presale: https://purchase.blockdag.network
Website: https://blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu