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Expectations continue to mount across the cryptocurrency market as most digital assets persisted in range trading on Sept. 17. Bitcoin has traded in the range between $46,705 to $48,825 since the past few days and seems to be preparing for a move one way or another.
For Crypto analyst, Michael Van de Poppe ”The market is going to explode, that’s how it looks like”.
The expectations for the Altcoin market aren’t lesser as the ”Altseason” narrative became prominent in discussions across the space. Since the previous month, alternative cryptocurrencies have surged in price, with projects such as Hedera Hashgraph (HBAR), Terra (LUNA), Solana (SOL), Cardano (ADA), Gala (GALA) notching fresh all-time highs.
While the debate about whether or not the market is seeing an Altseason goes on, one of the tell-tale signs is a sideways trading Bitcoin and a subsequent drop in Bitcoin dominance. At the time of post, the Bitcoin dominance rate was teetering at 41.71%, while Bitcoin traded at $48,249, up 2% on the day.
What’s in Store for Terra (LUNA), TRON, Dogecoin, MATIC?
Terra (LUNA)
On Sept. 17, the Terra Network announced the launch of Wormhole Token Bridge which will allow cross-chain asset transfers across Ethereum, Solana, Terra, and BINANCE Chain. Starting with Ethereum and Solana, the token bridge aims to power the growth and decentralization of the Solana ecosystem by bringing more ETH liquidity cross-chain.
The Columbus-5 mainnet which will be deployed at a block height of 4,724,000, roughly equivalent to the following times: 29th Sept at 20:30 PST, 30th Sept at 03:30 UTC, and 12:30 KST respectively is another event on the radar.
On-chain analytics, Messari seems quite bullish on both events stating:” …With Colombus-5 and Wormhole V2 going live in the coming weeks, UST growth will likely accelerate, setting it up to challenge DAI for the top spot among decentralized Stablecoins”.
Terra (LUNA) traded at $35.02 as of press time.
TRON (TRX)
On Sept. 17, TRON announced the launch of Valkyrie TRON Trust with its strategic partner Valkyrie Funds Investments. The latter is a US-based investment company specialized in digital and crypto assets, providing investors exposure to digital assets through trust funds, and has thus launched Bitcoin, TRON, Polkadot, and Algorand trust funds so far.
Valkyrie TRON Trust is the first among a series of upcoming institutional-grade fund offerings globally for the TRON crypto ecosystem. It is expected to start with $55m in AUM on inception, with a plan to file for a U.S listing in 2022.
The move aims to expand and strengthen the TRON ecosystem, giving more investors exposure to the TRX asset. On the same day, the network also announced a strategic partnership between Apenft and tronmeebits.
Tronmeebits is the first 3D character NFT project on the TRON chain, planning to release with a total circulation of 20,000 pieces.
TRX traded at $0.1055 as of press time.
Dogecoin (DOGE)
In early July, Gary Lachance created the idea of the Million DOGE disco, a blockchain-based game that rewards players with non-fungible tokens (NFTs) and dogecoin. The game creator also had a goal of unifying humanity using public dance parties and Doge memes, also with the ”world peace day”, an upcoming virtual Dogecoin convention slated for Sept. 21st.
Dogecoin presently awaits a bullish catalyst to its price as it has consolidated around the $0.23-$0.26 range since the Sept. 7 ”flash crash”.
Polygon (MATIC)
Recently, news had it that Big Four consulting firm Ernst & Young (EY) will use Polygon’s protocol and framework to deploy its EY blockchain products on the Ethereum blockchain.
Asides from this, an upcoming Bitfinex listing hopes to increase Polygon (MATIC) accessibility amid traders. However, MATIC remains locked in range trading waiting for the next major move. A Twitter trader notes:
”$MATIC still consolidating but looking to make a decision soon, worth stocking up on, its next move will be big.”
MATIC traded at $1.37 at press time.
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