Last Notes
As a hedge fund manager, I fully support the optimistic view presented in this analysis of the AI market. The potential of generative AI is immense, and we are witnessing only the beginning of its transformative impact. The comparison to the dot-com bubble is understandable, but the current advancements and investments in AI infrastructure suggest a more sustainable growth trajectory.
With over $1 trillion expected to be invested in AI over the coming years, the commitment from tech giants and other industries is clear. This level of investment, coupled with ongoing advancements, reinforces my confidence that we are on the brink of significant breakthroughs. The "killer app" for AI may not be clear yet, but history has shown that such innovations often emerge unexpectedly. The positive sentiments from Goldman Sachs analysts and the recognition of AI's long-term potential at industry events highlight the strong foundation being built.
In summary, while caution is always prudent, the future of AI looks promising, and the current investment cycle is poised to deliver substantial returns
Analysts from Goldman Sachs and MIT: AI Needs a "Killer App" or the Bubble Will Burst 📉💥
https://m.primal.net/JFKq.webp
The analysts were divided on whether today's investments in AI will pay off in the next decade. Analysts from Goldman Sachs and MIT recently delved deeply into the market for generative artificial intelligence (AI) to determine its short- and long-term profitability for investors.
The core question was whether the current AI market represents an expanding bubble that will burst, or if it signifies the next stage for technology and industry.
Unfortunately, the answer is not straightforward, according to the report. The market differences that occur when a bubble is about to burst, like during the dot-com bubble implosion, and when a strong application makes a technology popular, like the invention of cryptocurrency by Satoshi Nakamoto and others, can be too subtle to recognize in time.
Is AI a Bubble? 💭
The report includes interviews with four economists from Goldman Sachs and an economics professor from MIT. Their forecasts are divided. Three Goldman Sachs economists predict that the AI killer app will arrive soon enough. However, the remaining Goldman Sachs economist and the MIT professor are more skeptical, especially in the short term.
MIT Professor Daron Acemoglu said:
"Given the focus and architecture of today’s generative AI technology, truly transformative changes will not occur quickly. And few, if any, are likely to happen within the next 10 years."
Will the AI Killer App Arrive? 🔍
The counterargument is that current investments and corporate spending are not as radical compared to previous technology market cycles.
It's unclear what exactly this killer app for AI will be. However, current advancements have convinced some analysts that the present growth can continue.
This is significant because analysts in the report predict that "tech giants and beyond will spend more than $1 trillion on AI investments in the coming years."
With such high investments, much of it in infrastructure, the products and services derived from these investments need to be strong enough to support and sustain current and future funding.
According to Kash Rangan, an analyst at Goldman Sachs, the outlook is positive despite the scale of current investments:
"Spending is certainly high in absolute dollar terms today. But this investment cycle appears more promising than previous ones."
Goldman Sachs U.S. Internet Equity Research Analyst Eric Sheridan expressed a similar view in the interview: "It is impossible to follow demonstrations of generative AI capabilities at company events or developer conferences without being excited about their long-term potential."
Tapping into this potential, however, might depend on whether generative AI will have its iPhone moment of mass adoption in the near future. 📱🚀
#ai #bitcoin #bitnewstoday #crypto #invest #money
BONK Cryptocurrency: Bearish Short-Term Trend with Potential Recovery - July 2 to July 16, 2024
https://m.primal.net/JFIo.png
Investor Summary:
Sentiment Analysis Summary:
The sentiment for BONK appears to be neutral to slightly bearish in the short term. The price has been experiencing a downward trend over the past month, with some signs of stabilization in recent days. However, investor confidence seems to be cautious due to the recent price decline.
Volatility Summary:
BONK has shown moderate to high volatility over the analyzed period. The price has fluctuated between $0.00001977 and $0.00003572, representing a range of about 80%. This indicates that BONK is a highly volatile asset, which presents both opportunities and risks for investors.
Long-term Investment:
For long-term investors, BONK presents a high-risk, high-reward opportunity. The cryptocurrency has shown significant price swings, which could lead to substantial gains or losses. The current price level may offer a potential entry point for those willing to hold for an extended period, but caution is advised due to the asset's volatility.
Entry price for long-term investment: $0.00002621 (current price as of July 2, 2024)
Target exit price (3-6 months): $0.00003500 (potential upside of 33.5%)
Short-term Investment:
For short-term traders, BONK offers opportunities due to its volatility. However, the current trend appears to be bearish in the short term, with a potential for a slight recovery in the coming days.
Entry price for short-term trade: $0.00002550 (wait for a small dip)
Target exit price (7-14 days): $0.00002750 (potential upside of 7.8%)
Stop-loss: $0.00002400 (to limit potential losses)
Risk Management:
Due to BONK's high volatility, it's crucial to implement strict risk management strategies:
Use stop-loss orders to limit potential losses
Don't invest more than 1-2% of your portfolio in this high-risk asset
Consider dollar-cost averaging for long-term investments to mitigate the impact of volatility
Technical Analysis:
The 7-day linear regression analysis suggests a slightly bearish trend in the short term. The ARIMA model predicts a potential stabilization and slight recovery in the coming days, but with a high degree of uncertainty.
Support levels: $0.00002400, $0.00002200
Resistance levels: $0.00002800, $0.00003000
Market Sentiment:
The overall crypto market sentiment may impact BONK's performance. Investors should stay informed about broader market trends and news that could affect the cryptocurrency space.
Conclusion:
BONK presents a high-risk investment opportunity with the potential for significant returns. The short-term trend appears bearish, but there are signs of potential stabilization and recovery. Investors should exercise caution and only invest what they can afford to lose.
Projected daily prices for the next 7 days (based on ARIMA model):
July 3, 2024: $0.00002580 (-1.56%)
July 4, 2024: $0.00002540 (-1.55%)
July 5, 2024: $0.00002515 (-0.98%)
July 6, 2024: $0.00002505 (-0.40%)
July 7, 2024: $0.00002510 (+0.20%)
July 8, 2024: $0.00002525 (+0.60%)
July 9, 2024: $0.00002545 (+0.79%)
Best entry point: Consider entering around $0.00002505 - $0.00002515 (July 5-6, 2024) for a short-term trade or long-term investment, as this appears to be a potential local bottom based on the analysis.
Tips for investors:
Monitor the overall cryptocurrency market trends, as they may impact BONK's performance.Be prepared for high volatility and set appropriate stop-loss orders.Consider scaling into positions rather than investing a lump sum to mitigate risk.Keep an eye on news and developments related to BONK and the broader Solana ecosystem.Regularly reassess your investment strategy based on new data and market conditions.
Nice weather over there. Here in Germany, just a rainy summer.
🌟 Bitnews Airdrop of the Day:
Mega Dice
As the leading GameFi portal on Solana, Mega Dice has already attracted over 50,000 users with its vast array of gambling options, sports betting, and crypto futures. From slot machines and live casinos to games and sports betting on 60 sports, as well as dozens of crypto futures with 1:1000 leverage, it has everything a player could desire.
https://m.primal.net/JERN.webp
Using Mega Dice is simple: users create a Solana wallet, purchase DICE tokens, link the wallet to the Mega Dice platform, and then can enjoy a wide variety of gambling and sports betting options. The DICE token is used as the payment method for stakes, with automatic payout of winnings also made in DICE. Users benefit from these advantages at Mega Dice:
🎰 Gigantic Selection: Users have access to over 4,500 games on the Mega Dice platform, including slot machines, live casinos, and other casino games, continuously expanded and updated. Renowned providers like Pragmatic Play, Evolution, and QuickSpin supply these games.
🏆 Betting on 60+ Sports: Betting enthusiasts will find plenty to enjoy at Mega Dice – there are all popular types of sports bets available, with betting on games and tournaments in over 60 sports, including many niche sports and virtual sports leagues.
📈 High Growth: The future looks very bullish, as the global market for sports betting and online gambling is expected to grow annually by 10-15% through 2030. However, the GameFi and GambleFi market, which Mega Dice already dominates in the Solana ecosystem, is growing even more rapidly.
🚀 Strong Market Presence: Although Mega Dice is just launching its presale, it has long been a major player in the growing GameFi market with over 50,000 users and a betting volume of over 50 million USD per month. With over 100,000 users reached on social media, the presale might soon be sold out.
💰 Discounts and Cashback: DICE token holders can stake their tokens for a lucrative 10% APY and receive discounts and cashback on their stakes for their loyal use of the platform. This promotes loyalty and strengthens both users and the community.
The DICE token is the native medium of exchange within the entire ecosystem, offering high utility with various uses that ensure a stable high demand:
🎲 Users buy and stake DICE tokens to place bets in the casino and on games, and also to unlock exclusive tournaments and new games.
🔄 Users earn DICE tokens if they are successful in the casino or betting games, receive cashback for active playing, or get staking rewards.
💸 Interested investors should join the DICE Coin Presale now to not miss out on favorable presale prices and over 100% staking interest! Over 1 million USD in capital has already been raised – it could soon be sold out! Buying DICE is possible with ETH, BNB, USDT, and SOL.
"Our spectral AI trading bot always places its orders profitably. Good job, bot! 💸👍
https://m.primal.net/JEQw.png
Development continues...
#bitcoin #trading #bitnewstoday #money #invest #crypto #ai
Where he's right, he's right
Bitcoin price will "no longer rise dramatically" – Peter Thiel sees no future for BTC
Peter Thiel criticizes that Bitcoin hasn't developed towards Cypherpunk as originally thought.
Former PayPal CEO Peter Thiel has expressed doubts that the Bitcoin (BTC) price will rise significantly from its current level in the future.
The billionaire – who still owns "some" Bitcoin, but not as much as he "should have" – isn't sure where new buyers will come from now that Bitcoin already has an "ETF edition".
https://twitter.com/Swan/status/1806797074093981855?ref_src=twsrc%5Etfw
"I'm not sure if it will go dramatically up from here. We have the ETF edition, and I don't know who else will buy in the future," Thiel, a founder of Founders Fund, told CNBC on June 28.
"It can probably still rise a bit, but it will be a volatile, bumpy ride."
Thiel previously said he was "underinvested" in Bitcoin in October 2021, when the leading cryptocurrency was moving towards its all-time high of $69,000, reached about three weeks later.
However, Thiel's Founders Fund has a pretty impressive history with Bitcoin, making its first Bitcoin investment in 2014 and realizing a $1.8 billion profit shortly before the market collapsed in 2022.
The Founders Fund then bought another $100 million in Bitcoin in 2023 when it was trading below $30,000.
Bitcoin no longer Cypherpunk?
Thiel revealed that Bitcoin hasn't developed as much towards Cypherpunk as he originally envisioned.
"Where I'm less convinced is the question of Bitcoin's ideological founding vision as a cypherpunk, crypto-anarchism, libertarianism, anti-government thing." 🏴☠️🗽
"That's what I thought was so great about it," Thiel recalled about Bitcoin's early days. 🌟🕰️
But now he thinks that Bitcoin "doesn't really work like that".
#bitcoin #btc #crypto #invest #bitnewstoday #exchange
🌟Bitnews Airdrop of the Day:
Base Dawgz
A highly anticipated ICO for 2024 is the coin launch of Base Dawgz – a new Base memecoin featuring an exciting multi-chain narrative, high airdrop rewards, and an adorable Doge mascot in a jumpsuit. With perfect timing in the Base memecoin hype and popular multi-chain appeal, the hottest memecoin of the year is set to be forged.
https://m.primal.net/JBzo.webp
The story behind Base Dawgz is simple: The Doge dog elegantly glides between Layer-1 chains through base jumping – after launch, Base Dawgz will be hosted on Ethereum, Solana, Avalanche, MATIC, and BNB Smart Chain to unite all memecoin communities in the crypto world and lead to pump success together.
Several advantages could lead $DAWGZ to a vertical start:
🚀 High Staking-APY: The token economics reveal that a total of 20% of all tokens are available for staking purposes to ensure short-term presales hype and long-term price stability. There is over 100% staking-APY in presale, with nearly 10% available permanently.
📈 Rapid Growth: Less than 24 hours after launch, over $200,000 in capital was raised, and within 3 days, the social media community had grown to over 20,000 followers. Social media posts now reach over 100,000 users, and the share-to-earn potential has yet to be fully unleashed.
🎯 Ultimate Narrative: Base Dawgz is a brilliant combination of three of the most exciting crypto narratives for 2024 – a Doge-inspired memecoin with a unique mascot, a trendy Base memecoin, and a multi-chain feature that brings a unifying message to the crypto space.
💰 Share-to-Earn: To drive viral growth, the token economics allocate 15% for community rewards, which are paid to users who actively share and comment on Base Dawgz posts on social media. Lucrative airdrops can be earned through the "share-to-earn" principle!
🌍 Gigantic Target Audience: Many memecoins have already achieved legendary 100x returns in 2024, with the memecoin communities on Base, Solana, and Avalanche particularly proud – but often competing for attention. As a multi-chain memecoin, Base Dawgz can reach, unite, and boost demand across all these communities.
🔒 Guaranteed Security: The project team wanted to actively foster trust and confidence in the community, so they commissioned a smart contract audit by blockchain specialist SolidProof – the audit report is without issues, so the smart contracts should be secure.
⚠️ Attention: The exciting ICO of Base Dawgz is now live! Over $300,000 in capital has been raised, and early presales prices, which increase by 5% every 5 days, are still available for a short time! Over 40% returns can be achieved in presale, plus over 100% staking-APY – Base Dawgz can be purchased with ETH, USDT, SOL, or credit card.
#Crypto #Memecoin #BaseDawgz #Airdrop #Staking #ICO2024
🌞 Good morning, dear Nostr community! 🌻
Enjoying my coffee ☕ with a Bitcoin logo 🤑 and the sound of birds chirping 🎶 with a beautiful sunrise 🌅. Perfect start to a summer day! 🌼
https://m.primal.net/JBhT.webp
#Bitcoin #GoodMorning #SummerVibes
Bitcoin (BTC) Activity at Lowest Level Since 2010 📉🚨
According to on-chain data from IntoTheBlock, the share of active Bitcoin addresses has fallen to its lowest level since November 2010. 🕰️
In June, the percentage of weekly active wallets dropped to a low of 1.22% and reached a high of only 1.32%. 📊 The highest value this month was last achieved in November 2010.
Moreover, the total number of active wallets has hit a multi-year low. 📉 In the week of May 27, 614,770 active wallets were recorded, the lowest figure since December 2018.
A declining share of active addresses indicates a lack of buying and selling activity among Bitcoin investors, suggesting a period of market consolidation. 💼🔒
BTC$61,705 💰
https://m.primal.net/JBgv.webp
Juan Pellicer, a senior analyst at IntoTheBlock, attributes the decreasing wallet activity to weaker retail investor participation compared to previous cycles. 👥📊
"This year's run to a new all-time high was driven by institutional capital, not retail investors," Pellicer told Cointelegraph. 🏢💼
"The general economic situation may have played a role in retail investors not making as many crypto investments as in the past." 📉
The decline in activity rate comes as investors prepare for a period of increased whale activity, including the Mt. Gox trustee planning to start distributing payments to creditors in July. 🐳💰
Some larger Bitcoin holders, including governments, have also been associated with recent selling activities. 🏛️💼
"Due to this concentration, a large part of the bearish trading activity takes place off-chain, which doesn't significantly impact on-chain address activity statistics," Pellicer adds. 📊🔗
#bitcoin #crypto #bitnewstoday #invest
Toncoin: Will the price reach a new all-time high soon? 🚀🌕
The price of Toncoin (TON) continues to climb significantly northward. All relevant chart markers are in the latest price analysis. 📊💹
https://m.primal.net/JAYX.webp
The price of the cryptocurrency Toncoin (TON) continues to defy the recent correction trend in the crypto market, rising double digits in value in recent trading days after successfully retesting the old resistance area last week. Once again, the price was able to form a higher low and use the 50-day moving average EMA50 (orange) around $6.80 as a springboard. At $7.70, Toncoin is currently only seven percentage points below its all-time high and shows clear outperformance among altcoins. It could soon target its previous peak of $8.28 from June 15th, following a recovery movement in the crypto market. 📈💪
Despite an uncertain economy, Americans are saving more for retirement. "How America Saves 2024," the 23rd edition of our annual retirement savings analysis, reveals what's driving the upward trend.
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https://vgi.vg/3KWS6EC
"The best time to plant a tree was 20 years ago. The second best time is now. 🌳💫" - Chinese Proverb
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A very accurate analysis, good work bitnews.today :-)
AVAX Price Forecast: Bearish Trend Expected to Continue Through Early July 2024
https://m.primal.net/IzSV.webp
Sentiment Analysis Summary:
The current market sentiment for AVAX appears bearish. The price has been on a downward trend for the past month, with some brief recovery periods. This suggests that investor confidence may be low in the short term.
Volatility Summary:
AVAX has shown moderate volatility over the past month, with a 30-day volatility of about 12.5%. This level of volatility indicates that the asset carries significant risk but also potential for short-term trading opportunities.
Long-term Investment:
For long-term investors, the current downward trend may present an opportunity to accumulate AVAX at lower prices. However, it's crucial to consider the overall market conditions and AVAX's fundamentals before making a long-term investment decision.
Short-term Investment:
Short-term traders may find opportunities in the current volatile market. However, the overall bearish trend suggests caution is necessary. Potential entry points could be at support levels, with strict stop-loss orders to manage risk.
Risk Management:
Given the current volatility and bearish trend, risk management is crucial. Consider using stop-loss orders and avoiding overleveraging. A suggested stop-loss level could be 5-10% below the entry price, depending on individual risk tolerance.
Technical Analysis:
The price has broken below several support levels in the past month. The next significant support level appears to be around $24-$25. Resistance levels to watch are around $28 and $30.
Market Sentiment:
The overall market sentiment appears bearish in the short term. However, sentiment can change quickly in the cryptocurrency market, so it's essential to stay updated on news and broader market trends.
Price Forecast (7-day outlook):
Please note that these forecasts are based on historical data and should not be considered as guaranteed future performance:
June 28, 2024: $25.40
June 29, 2024: $25.20
June 30, 2024: $25.00
July 1, 2024: $24.80
July 2, 2024: $24.60
July 3, 2024: $24.40
July 4, 2024: $24.20
Entry and Exit Points:
Potential entry point: $24.50 - $25.00
Short-term exit (take profit) point: $26.50 - $27.00 (6-10% gain)
Stop-loss suggestion: $23.50 - $24.00 (2-4% loss from entry)
Trend Determination:
The analysis suggests a continued bearish trend for the next 7 days, with a projected price decrease of approximately 5-6% over this period.
Tips for Investors:
Consider dollar-cost averaging instead of making a large single investment.Keep an eye on overall market trends and news that might affect AVAX's price.Be prepared for potential further downside in the short term.Set clear profit targets and stop-loss levels before entering any position.Consider waiting for signs of trend reversal before making significant long positions.
Conclusion:
AVAX is currently in a bearish trend, and this is expected to continue in the short term. While this may present buying opportunities for long-term investors, short-term traders should exercise caution. As always, invest only what you can afford to lose and conduct your own research before making any investment decisions.
#bitcoin #crypto #invest #money #analysis #avax #bitnewstoday
🌟Bitnews Airdrop of the Day:
Wiener AI
As a colorful mix of a well-known dog meme, real sausage DNA, and the hottest AI of all time, Wiener AI is making a splash in the crypto space, impressing not only curious meme enthusiasts but also investors looking for a brand new ICO with massive upside potential.
https://m.primal.net/IzPN.webp
In the ecosystem of the quirky-looking mascot, the goal is to create a highly advanced cybernetic dog AI to finally bridge the gap between dogs and artificial intelligence – if the responsible scientist hadn't been eating a sausage on the side. Thus, Wiener AI literally appears in the form of a hot dog and impresses competitors with the motto "Length is Strength."
Overall, the new Wienerdog Coin scores not only with a lot of community fun but also with numerous valuable benefits:
Daily Staking Rewards: Meme fans who invest in Wiener AI can stake their tokens in the network and earn valuable daily staking rewards. This allows investors to build a passive income source and currently benefit from an unbeatable APY of over 1,800%.
Real Hype Potential: As a memecoin with a quirky dog design, Wiener AI appeals to a broad target audience of meme and crypto fans. Additionally, thanks to its ERC-20 standard base, many investors can buy $WAI quickly, safely, and easily – to the moon!
Smart Tokenomics: While a proud 30% of the total 69 billion Wienerdog Coins are issued to new investors in the presale, 20% each are allocated for staking rewards, community rewards, and marketing campaigns. Another 10% is reserved as liquidity for upcoming CEX and DEX listings to ensure a smooth start.
As the mightiest cybernetic being in the crypto universe, Wiener AI has the potential to soon be mentioned alongside true top memecoins. Those who want to benefit from a low valuation can now buy $WAI for as little as $0.0007 in the presale.
Those who hurry with their purchase decision will benefit not only from a high staking APY but also from the best possible purchase price, as the presale price of Wiener AI is deliberately increased every two days – FOMO at its best!
#bitcoin #crypto #meme #bitnews #invest #money #ico
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To create fairly accurate chart predictions, it's important to consider not just indicators but also a wide range of mathematical and statistical analyses and data. I highly recommend keeping an eye on the Nostr account of Bitnews (bitnews.today) - their crypto analyses are really well done! 😉
You know, it's like trying to predict the weather - you can't just look at the clouds and call it a day! Those Bitnews folks seem to have their finger on the pulse of the crypto world. They're like the crypto weather forecasters who actually get it right... most of the time! 🌦️📊
So, if you want to stay ahead of the game and not end up trading like a blindfolded monkey throwing darts (no offense to monkeys, they're quite skilled at other things), give Bitnews a follow. Your crypto portfolio might just thank you for it! 🐒🎯💼
Feel free to support our work/project. Thank you very much.👍
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"Enjoying some spaghetti and good vibes! 🍝😁 Remember, it's a great day despite the bad news! 🌞
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#BTC #Crypto #BitNews #Fun
The recent transactions by the German government's Bitcoin wallet are significant and could have notable implications for the cryptocurrency market. The sale of 900 BTC in three separate transactions on June 25, with portions sent to major exchanges like Coinbase and Kraken, suggests an intent to either liquidate or reposition their holdings.
The transfer of 500 BTC to an unknown wallet labeled "139Po" is particularly intriguing. Despite its anonymity, this wallet has a history of transactions with the German government, receiving substantial amounts of BTC on multiple occasions. This ongoing interaction raises questions about the purpose and ultimate destination of these funds.
With the wallet still holding over 46,000 BTC, valued at more than $2.8 billion, there is potential for significant market impact. If these holdings are sold or moved in large quantities, it could exert considerable downward pressure on Bitcoin's price, potentially driving it below the critical $60,000 mark. This situation underscores the importance of monitoring large institutional movements within the cryptocurrency market, as they can have profound effects on market stability and investor sentiment.👍
German Government Sells 900 Bitcoin: Sends Additional 400 BTC to Coinbase and Kraken
The additional selling pressure from the German government could push the Bitcoin price below $60,000. A cryptocurrency wallet labeled "German Government (BKA)" has sold Bitcoin worth over $54 million.
https://m.primal.net/IyXw.webp
The German government's wallet sold 900 Bitcoin (BTC) in three separate transactions on June 25.
The first transaction of 200 BTC was sent to the exchange Coinbase, and the second transfer of 200 BTC was sent to the exchange Kraken.
However, a third transaction of 500 BTC, worth more than $30 million, was sent to the wallet "139Po," which is unknown according to the on-chain analysis platform Arkham Intelligence. Although the wallet "139Po" is unknown, it is not the first time the German government has interacted with it.
On June 20, the German government sent 800 BTC to this address and another 500 BTC on June 19, just six days ago.
Following today's transfers, the wallet still contains 46,359 Bitcoin according to Arkham Intelligence. This wallet holds BTC worth over $2.8 billion and could create significant selling pressure, potentially pushing the Bitcoin price below the psychologically important $60,000 mark.
#btc #crypto #bitnews #invest
Is Polygon soon to be the most used blockchain network in the world? 🌐
Despite falling prices in the crypto market, the Polygon ecosystem is experiencing strong growth. 📈 Here are the reasons and how MATIC might develop.
https://m.primal.net/IyXe.webp
Polygon (MATIC), once known as Matic Network and a celebrated top performer of the last crypto bull run, has faced several challenges in recent years. 🏆 Despite the strong growth of competitors like Solana and various Ethereum Layer-2 solutions, Polygon has fallen short of expectations. The development of the MATIC price has been disappointing, and currently, the price chart shows no signs of recovery. 📉
However, recent developments and on-chain data paint a different picture: Polygon appears to be on its way to becoming the world's most used blockchain network and has recently even surpassed Solana. 🚀 Only two blockchains are currently ahead of Polygon. 🥈
#btc #polygon #crypto #invest