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Layer 2 scaling solution Polygon has maintained strong network activity even as the broader cryptocurrency market and its native token, MATIC , experienced a downturn in the second quarter of 2024, according to a new report from market intelligence platform Messari. Polygon Weathers Crypto Market Downturn While MATIC saw a 44.3% drop in its circulating market cap to $5.5 billion over the quarter, placing it as the 20th largest crypto asset (currently at the 26th position), the protocol’s on-chain metrics remained strong.  This is in contrast to larger cryptocurrencies such as Bitcoin and Ethereum, which saw their market capitalization decline by 12% and 6%, respectively, over the same period. Related Reading Why Is ETH Price Struggling Despite The...

The official Starknet Ethereum address made seven cross-chain transactions ahead of the anticipated launch of STRK, the protocol’s native token expected by Q2 2024.  Starknet transferred less than three STRK tokens between Ethereum’s mainnet and the project’s layer-2 network, per data seen on block explorer Starkscan. The action was likely part of an on-chain test exercise for the Ethereum-based scaling solution before developers rolled out the ERC-20 cryptocurrency. STRK test transactions | Source: Starkscan The transactions for users and network participants indicate progress toward STRK’s launch, which may accompany an airdrop and community rewards. The Starknet Foundation revealed 1.8 billion STRK tokens earmarked for its distribution plan in December last year.  Half that amount was designated network rebates to reward users already transacting on the L2 chain, crypto.news noted. Beneficiaries of the Early Community Member Program are also set to receive a portion o...

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Cardano (ADA) rose 45% in the past month, sparking discussions about its potential. Although it recently dropped from $0.63 to $0.55, Ali Martinez maintains a bullish outlook. Despite struggling to maintain the uptrend, Shiba Inu (SHIB) is the second-most-popular meme coin. Attention is now on Everlodge (ELDG), which introduces AI-driven elements to the real estate sector.  Cardano bulls target $1 According to crypto analyst Ali Martinez, ADA may post a short-term bounce before continuing its recent upward momentum. Over the past week, ADA rallied from a low of $0.397228 to around $0.631526. In the past year, its market cap is up 76% to over $19 billion. You might also like: Cardano about to rise much higher: analyst ADA averages $1.16 billion in daily trading volume as the ninth largest crypto.  According to analys...