This weekend, the crypto industry saw the closure of crypto-friendly bank Silvergate, the crash of Silicon Valley Bank, the introduction of a federal tax on crypto mining power and Circle USDC, and the 1:1 decline in stablecoins like Frax and DAI. Losing the peg caused a big round of applause. against the US dollar. Market sentiment was negative, with many crypto assets declining in value in a relatively short period of time.
Litecoin traded at $66.020 by 07:38 (07:38 GMT) on Saturday, down 10.21% on the day. This was his largest daily loss rate since November 9, 2022.
The drop pushed Litecoin’s market cap down to $5.11 billion, or 0.54% of the total cryptocurrency market cap. Litecoin had the highest market capitalization he had at $25.69 billion.
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Litecoin has been trading between $66.020 and $73.740 over the past 24 hours. Over the past 7 days, Litecoin has lost 21.45% in value. The amount of Litecoin traded in the 24 hours to the time of writing was $1,096 million, or 1.18% of the total volume of all cryptocurrencies.
It has been trading between $66.0200 and $91.7300 over the past seven days. At current prices, Litecoin is down 84.28% from its all-time high of $420.00 set on December 12, 2017.
Bitcoin ended at $20,049.5, up 0.50% on the day trading chart, while Ethereum traded at $1,447.81 on the CoinGecko Index, up 2.54%. Ethereum’s market capitalization reached $179.199 billion, making him 19.02% of the total cryptocurrency market value.
Set up a monster rally for $BTC over the next 6-18 months. The world will wake up to the reality that $BTC is the most useful bearer asset in existence and credit assets are risky. One year before the halving, the bank went bankrupt. Avi Fellman said she couldn’t have written a better script.
Floki is currently the third most traded cryptocurrency since listing on WazirX, India’s largest and most recognized exchange. It ranks next to $BTC and $SHIB.
$FLOKI is also the only cryptocurrency that is not a stablecoin with two trading pairs in the top 10.
Polygon zkEVM Hype Intensifies
Polygon recently advertised a zkEVM scaling solution, but few teams are currently working on it.
This is because zkEVM is notoriously difficult to develop. zkEVM stands for Zero-Knowledge Ethereum Virtual Machine and is considered the holy grail of Ethereum scaling. zkEVM increases throughput and lowers gas prices by performing computation and storage off-chain and generating zero-knowledge proofs to validate off-chain transaction batches.
While there is currently no zkEVM deployed on Ethereum mainnet, Polygon co-founder Sandeep Nailwal has set a launch date on January 17th for the team developing Polygon’s zkEVM, which is ” Coming soon,” he tweeted.
Additionally, Polygon zkEVM core developer Eduardo Antuña tweeted on Thursday that Polygon has successfully increased zkEVM’s verification time and cost. Polygon zkEVM Prover, I’m really excited about the results at Batchproof 2:30 (soon 2 minutes) ~500 or ~250 ERC20 tx/batch.
On-the-spot m6id.metal certifier cost: $0.064/proof ($0.0001/tx) Fastest ZK technology and first production-ready zkEVM. The prover is no longer the bottleneck. All of this indicates that Polygon’s zkEVM will soon be deployed on Ethereum’s mainnet, at least in theory. This is a one-of-a-kind achievement and has the potential to take MATIC to new heights.