Polygon price stuck in pennant as MATIC heads for an upside breakout to $0.96
Polygon (MATIC) price is currently trading sideways with great respect for the pennant formation that has been present since the beginning of May. With several attempts to the upside for a breakout and some minor dips to the downside, the final result looks to favor the bulls. With pressure building on the topside, a breakout could see a quick rally up to $0.96 with a 10% value addition in the process.
Polygon price has been behaving quite orderly within the ranges from the pennant being formed on the chart since the beginning of May. The pennant is pushing bears and bulls toward each other in a slow grind with lower highs and higher lows. A breakout is due anytime, and from the looks of it, bulls will favor the outcome.
Justin Sun’s TRON scooped up by whales as TRX prepares to catch up with rising TVL
TRON, the native token of a decentralized smart contract network, registered a large increase in its Total Value Locked (TVL) since the beginning of the year. TVL is a metric used to measure the value of assets locked in a blockchain protocol: the higher the value of tokens locked is, the healthier the protocol.
TRON network, founded by crypto influencer Justin Sun, saw a significant gain in terms of TVL. TRON’s TVL climbed from $4.123 billion in January to $5.6 billion in May. The Total Value Locked on a blockchain represents the total value of all tokens (staking included) on the network, giving clues about the health and adoption of the protocol.
Shiba Inu likely to launch Shibarium layer-2 in July
Shiba Inu’s layer-2 scaling solution Shibarium is likely to be released in July or Q3, according to recent comments from the project’s lead developer. Shibarium’s launch is expected to drive the utility and adoption of ecosystem tokens Shiba Inu (SHIB), Bone Shibaswap (BONE) and Doge Killer (LEASH), which are part of Shiba Inu’s ecosystem.
Shiba Inu community members are waiting for the launch of Shibarium, the ecosystem’s layer-2 scaling solution. Shibarium’s testnet Puppynet recently hit a new milestone, with 11 million successful transactions for more than 15 million wallet addresses.
Yesterday, @shibarium_ guessed that the launch of the mainnet would be in August, while my guess is for Q3 and @ShytoshiKusama guessed July.— (@LucieSHIB) May 24, 2023
Shiba team is confident about the launch and have multiple teams working on it, including AI integration.
Our estimate is for 2023, and…
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