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Polygon AggLayer Selects Agora’s AUSD As Native Stablecoin, What’s Next For POL?
Polygon announced Agora AUSD as the new native stablecoin for the AggLayer. This aims to solve liquidity fragmentation and interoperability issues. AUSD will help streamline cross-chain transactions and provide unified liquidity across integrated networks.
AUSD, backed by VanEck and State Street, simplifies stablecoin use across the Polygon ecosystem. Developers can now integrate AUSD more easily. This eliminates the need for multiple stablecoins, making cross-chain operations more efficient.
Polygon New Native Stablecoin AUSD Brings Unified Liquidity
Polygon announced in a blog post on November 11, 2024, that Agora AUSD will be the native stablecoin for the AggLayer. This will simplify cross-chain transactions and bring unified liquidity to the ecosystem. AUSD aims to streamline the process for developers and users in the blockchain space.
Agora will solve the liquidity fragmentation challenge. It provides a fungible stablecoin that works seamlessly across all AggLayer-connected blockchains. It will also help developers build applications without the need to integrate multiple stablecoins. With AUSD, developers can focus on their projects while ensuring compatibility across different blockchains.
The news came during the ongoing Aggregation Summit, which is focused on cross-chain interoperability and liquidity unification. Insights from the Bangkok summit highlight AggLayer’s role in advancing blockchain technology. The integration of AUSD into this ecosystem marks a significant step toward achieving a seamless, scalable network. This move aims to improve user experience and drive further innovation within the blockchain space.
AUSD Adoption and Impact On Price
As the Polygon ecosystem expands, the demand for AUSD is expected to grow. More developers and users will adopt AUSD as their preferred stablecoin for cross-chain applications and transactions. As more users engage with the Polygon ecosystem, the demand for POL will also rise, potentially leading to an increase in its value.
POL Price is currently trading at $0.40, with a 24-hour low of $0.38 and a high of $0.42. Over the past week, the token has gained 38%, showing strong momentum. In the last month, the price has risen by 9%, reflecting sustained growth. The 24-hour trading volume stands at $414 million, highlighting significant activity and interest in the token.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Pepe Coin (PEPE) price saw a massive 75% surge in the last 24 hours following the Coinbase and Robinhood listings. However, on-chain data signals that whales will likely book profits causing meme coins selloff. A Pepe Coin whale dumped nearly 500 billion coins while making nearly $45 million in profit.
Pepe Coin Whale Dumps Massive Holdings
Early PEPE investors and whales have started profit-booking. A PEPE whale sold 500 billion PEPE coins worth $11.8 million from its holdings, reported Lookonchain on November 14. The smart money amassed 2.01 trillion PEPE tokens between May 5 and September 10 last year with an initial outlay of 1,170 ETH worth $2.12 million at the time.
However, despite the current deposit at Coinbase, the whale continues to hold 1.48 trillion PEPE, valued at $33.2 million. This shows that the whale has minted 20x returns on the original investment with an estimated total profit of $45 million.
PEPE price surged to a new all-time high gaining 75% in a single day following the bumper listing on Coinbase, Robinhood and Upbit. As PEPE tops the market cap of $10 billion, the daily trading volumes have also soared 200% to more than $20 billion in the recent frenzy.
As per the Coinglass data, PEPE open interest has surged by 63% to $316 million with the 24-hour liquidations soaring to $48 million.
A Meme Coin SellOff Ahead?
The entire meme coin sector has performed extremely well following last week’s victory of Donald Trump in the US Presidential Elections. Top meme coins Dogecoin (DOGE), Pepe Coin (PEPE) saw over 100% gains in a week. Meanwhile, dogwifhat (WIF), Bonk (BONK), and Floki Inu (FLOKI) gained 60-70% each amid the meme coin frenzy.
However, the meme coin frenzy has been at a historically high level with greed and FOMO catching up pretty quickly, as per Santiment on-chain data. Also, the social discussion around meme coins has sparked up significantly, suggesting selloff caution ahead.
Commenting on the current frenzy in the meme space, popular economist Alex Kruger stated:
“Bitcoin aside, crypto now is mostly about memecoins. That’s what people wants. Full-stop. And exchanges are giving it to them. That’s what the Binance listings of PNUT and ACT and the Coinbase listings of PEPE and WIF tell you”.
Apart from Pepe Coin, the PNUT price has also surged by a massive 200% while extending its weekly gains to more than 1600%. Meanwhile, DOGE price is trading at $0.392 and WIF price exchanging hands at $4.18, continuing the rally amid bullish sentiment.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Veteran trader Peter Brandt has brought fresh attention to DOGE by identifying striking similarities between the current Dogecoin price action and the Bitcoin price movements from 2015-2016. Brandt highlighted these patterns in a recent post on social media platform X, suggesting that Dogecoin could be following in Bitcoin’s early footsteps.
Peter Brandt’s Observations On Dogecoin Price Chart Patterns
Recent interest in Dogecoin in the past 30 days has brought its price action to the forefront of the trading analysts. The majority of these analysts have highlighted many technical indicators and trading patterns that point to a continued Dogecoin price surge in the coming months. However, veteran trader Peter Brandt has offered a unique perspective that sets his analysis apart. Rather than focusing solely on indicators, Brandt compares Dogecoin’s price action to the early days of Bitcoin, particularly to Bitcoin’s cycle from 2015 to 2016, when the leading cryptocurrency was still priced below $1,000.
In his post, Brandt pointed to specific price behaviors on Dogecoin’s chart that echo Bitcoin’s structure from several years ago. According to Brandt, Dogecoin’s price has undergone phases of price bottoms and corrections that resemble Bitcoin’s patterns before its first major rally in 2017. “Does anybody see the similarities of $DOGE to the $BTC chart in 2015-2016?” Brandt said.
According to him, the Dogecoin price action in the past year has been characterized by a blow off top, a correction via a falling wedge, a double bottom, and a complex correction following completion of the double bottom, all of which were present on the Bitcoin price chart in 2016. Notably, Brandt highlighted that Dogecoin is currently in the same position as Bitcoin was in May 2016.
Why Is This Good For Bitcoin?
If anything, the way Bitcoin turned out is a good indicator of what’s in play for Dogecoin’s future. Each of the patterns highlighted by Peter Brandt was instrumental in marking Bitcoin’s bottom and its subsequent climb toward new heights in 2017. If the Dogecoin price continues to mirror Bitcoin, we could see the meme coin going on a strong surge in 2025, much like the Bitcoin price rally in 2017.
At the time of writing, Dogecoin is trading at $0.38, and its value has essentially doubled in the past seven days. According to the on-chain analytics platform Santiment, this Dogecoin price rally has been largely driven by retail traders. Notably, addresses holding less than 100,000 DOGE tokens have increased by 74,885 in the past four weeks, while sharks and whale addresses have reduced by 350 addresses in the same timeframe.
Although Dogecoin has corrected since it reached $0.4346 in the past 24 hours, the meme coin is starting to trend on social media again. This is due to the US president-elect Donald Trump appointing Dogefather Elon Musk and billionaire Vivek Ramaswamy to lead the newly created Department of Government Efficiency (DOGE).
Featured image created with Dall.E, chart from Tradingview.com
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Expert Says Dogecoin Price Is Long Overdue For Rally To $1.5, ETFS To Reach $5, And XRP To Touch $10
A top market expert believes the Dogecoin price is long overdue for a rally to $1.5. Amid the brewing bullish momentum in the crypto market, investors also target XRP price for a run towards $10 and the new presale token ETFSwap (ETFS) to reach $5. The bullish expert predictions for these cryptocurrencies present an opportunity for profit, but investors are focusing on ETFSwap (ETFS) for its higher profit margin and low-risk presale entry.
ETFSwap (ETFS) Could Rise To $5 To Lead Other Market Prospects
The $5 projection for ETFSwap (ETFS) beat the Dogecoin and XRP price predictions, and investors are looking to capitalize on its prospect for the best market gains in the coming bull run. ETFSwap (ETFS) is a new Ethereum-based project that aims to provide a decentralized platform for trading and investing in tokenized ETFs.
The tokenized ETFs on the emerging DeFi platform will be backed by actual ETF securities bought from traditional markets. This enables the tokenized ETFs to maintain their real-world value while offering broader on-chain use cases. The new platform also aims to list ETF assets from various industries, including energy, engineering, healthcare, and more.
These diverse options allow for smoother portfolio diversification and asset conversion compared to centralized platforms. Users will be able to swap tokenized ETFs and cryptocurrencies, crossing between both markets with ease to take advantage of opportunities as they come. Also, the new ETF platform will allow users to collateralize their ETFs for liquidity, which can be used for other market opportunities.
Additionally, ETFSwap (ETFS) will offer impressive features, including faster ETF settlements, passive income from staking, 24/7 market coverage, zero-KYC trading, lower transaction costs, and more. ETFSwap (ETFS) eliminates the limitations around trading hours, conversions, KYC requirements, and many more that exist on centralized platforms.
ETFSwap (ETFS) is set for a beta launch following its launch on Testnet, and early investors are excited to try out its amazing features. Also, the ETFSwap (ETFS) has passed the KYC audit by SolidProof, verifying the legitimacy of the project. With these crucial processes done, investors look for the best market gains possible.
Dogecoin Price Predicted To Reach $1.5 Amid Broader Bullish Market
The Dogecoin price has seen positive movement over the past month as the meme coin now attempts to break resistance above $0.2. Expert predictions target a Dogecoin price surge to $1.5, which presents about an 8x opportunity from its current price. The Dogecoin price is attempting to surpass its $0.2288 yearly high following a Donald Trump victory in the US election.
Expert insights suggest that a Trump win is viewed positively by the crypto landscape, and investors are particularly hyped for a Dogecoin price run after Elon Musk’s proposal of a Department of Government Efficiency (DOGE).
The Dogecoin price as of this writing is $0.1941, gaining over 80% in the past month. Expert analysis suggests that the Dogecoin price could be set for a $1.5 all-time high ahead amid bullish market conditions.
XRP Price Predicted To Rise To $10 Following Trump Victory
Crypto enthusiasts express excitement over a possible XRP price rally following a Trump win. Donald Trump had previously stated during his campaign that he would fire SEC chair Gary Gensler on his first day in office. While this may not mean the end of the Ripple case, expert insights suggest that the XRP price may react positively to this news.
XRP price as of this writing is $0.5504, already teasing a bullish breakout as Trump took the early lead in the US elections. The XRP price has broken out of a month-long consolidation since the SEC filed appeal documents against the final court ruling in the Ripple – SEC case. Expert analysis suggests XRP could launch a rally towards $10 in the long run amid positive expectations from the new US administration.
Conclusion
A potential rally to $5 for ETFSwap (ETFS) presents an opportunity for about 100x profits from its current presale price of $0.05769. The new presale coin is set to outperform the expert Dogecoin or XRP price predictions, especially amid the brewing narratives around ETFs and real-world assets.
Having concluded its presale rounds, ETFSwap (ETFS) opened a bonus presale round at $0.05769 per token, offering a final opportunity to investors who missed their chance. Don’t miss out on this cheap opportunity for life-changing profits.
For more information about the ETFS Presale:
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