Polygon partners with Bollywood and Lido, bringing more DeFi to the popular chain and a touch of Indian style from the Mumbai dev team. ADA bounces after a tough weekend and stablecoin DJED breaks records on COTI’s dexes. Orbeon Protocol’s token keeps rising, and the platform reveals new developments, as it enters the 10th stage of presale.
Polygon dances its way through DeFi all the way to staked ETH
Polygon continues to go from strength to strength with its partners and development. Soon, Shemaroo, a top media and entertainment company in India, intends to introduce a unique Bollywood NFT marketplace on the Polygon network. The Bollywood film industry generates billions in revenue each year.
Perhaps more exciting for the DeFI lovers, is that Lido, the most popular DeFi app by TVL, has just launched on Polygon, meaning that matic lovers can now access STETH (Lido wrapped eth). Although liquid staking is coming to Ethereum soon, with the Shapella upgrade, currently, those who want to stake eth on its beacon chain cannot withdraw or claim liquid staking rewards. Lido says they chose Polygon due to its popularity with the DeFi community.
Pricewise however, it seems that MATIC may be overvalued as most short term price predictions are bearish, with Investing.com proposing a sell on short term Moving Averages, buy on longer duration MAs, and a strong sell on Technical Indicators.
According to Bitcoinwisdom.com MATIC is expected to experience a bullish trend with price predictions ranging from $4.81 to $9.08 by 2030. Analysts anticipate that MATIC could reach $3.74 by 2025. However, a bearish market prediction suggests that the price of Polygon may dip to $0.854782 in 2023.
ADA goes up in price as traders snatch up a discount; DJED demand is rising
As ever, it’s been an exciting fortnight for crypto, if not necessarily pleasant, with the falling of the SVB bank and Silvergate bank, and the subsequent bailout. Therefore prices dipped sharply over the weekend and many traders saw underbought opportunities, such as Cardano’s ADA.
DJED is an algorithmic and over collateralised stablecoin by Cardano, and given the recent halt of BUSD and depegging of USDC, many people are looking for an alternative that isn’t Tether. The COTI network tweeted about the uptake in use of Cardano’s stablecoin, noting that there had been record trading levels on their dexes and that DJED stayed true to the peg throughout.
Staking Dashboard now live from Orbeon Protocol
As Orbeon Protocol continues to rise in price, new developments are being revealed including the new staking dashboard, which you can connect to with a wallet that can use the Goerli test network on Ethereum. The dashboard looks professional and easy to use, holders will be excited to find out what kind of APYs they will be able to get on their ORBN, but for now we are still awaiting the launch of the token.
Orbeon Protocol wants to reinvent the ways that businesses raise funding, moving away from traditional banks, venture capitalist firms and angel investors, and towards ordinary investors. This makes funding easier to get for people with great ideas, and investment in early stage businesses, (and the accompanying profits), a much easier task. ORBN is up 2093% since it began its presale, has two more rounds to go after this one, and if market analysts are correct, ORBN could go up to $0.24, a 6000% ROI.
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