“Technical Models Flag Bullish Momentum, with Support Emerging AROUND $ 0.277– $ 0.278.”, – WRITE: www.coindesk.com
Pol Surged 16% FROM FRIDAY THRUGH Early Monday, Topping $ 0.29 For The First Time Since Early March, Coindesk Data Shows. Recently, It Pared Back Some of the Advance Slipping Below $ 0.28.
The MOVE HAPPENED AS The CD20 REMAINED LITTLE Changed with Bitcoin BTC$ 109.252.66 and Ethereum’s Ether (ETH) Posting Only Modest Gains.
Coindesk 20 Performance Aug. 29 – Sep. 1 (Coindesk Indices)
While there wasn’t any Clear Catalyst Behind Pol’s Surge, Some Positive Developments May have Bolsted the Token’s Performance.
Polygon Was One of the Chains Mentioned Last Week in the US Government’s Initiative to Release Key Economic Data Such As GDP on Blockchain Rails.
The Network Also AnnounCed An Integration Last Week with USDT0, A Tether-Focused Cross-Chain Stablecoin Protocol, That Could Help Boost The Network’s Position As As a Key Liquus.
On the Technical Front, Pol’s Breakout Signals Strong Bullish Momentum, Coindesk’s Research Model Showed. Despite the Consolidation from It Recent Peak, Buying Pressure in the $ 0.277- $ 0.278 Range Could Signals Continued Support for Further Gains, The Model Said.
Read More: US Government Starts Pushing Economic Data Onto Blockchains As ‘Proof of Concept’
Gold-Backed Tokens Xaut and Paxg Have Surged to Fresh Highs in Market Capitalization as the Metal Trades Near ITS April Peak.
- The Market Size of Tokenized Gold Reached A Fresh Record of $ 2.57 Billion, Led By Tether’s XAut and Paxos’ Paxg, Coingcko Data Shows.
- The Growth Has Been Driven by a $ 437 Million Xaut Token Minting in August, While Paxg Attracked $ 141.5 Million Inflows Since June, Defillama Shows.
- Gold’s Price Nears April High, With Safe Haven Demand Driving Inflows Into Gold-Backed Tokens
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