21.07.2023 | Solana Continues Improvements, Significant Uptick from Polygon

Polygon Overtakes Ethereum and Solana in Daily Users
In recent weeks, Polygon has realized one of the most unique enhancements between Layer-1 and Layer-2 blockchains. With Polygon 2.0, POL token and the recent govarnance announcement, Polygon, which attracted the attention of blockchain users and investors again, was also positively affected by the Ripple lawsuit result. As a result, the number of daily users on Polygon reached over 405,000, surpassing the likes of Ethereum and Solana.

FED Launches Instant Payment Service
The FED launched its long-awaited FedNow system. FedNow is known as a platform that tries to modernize the country’s payment system, making payment systems fast and active 24/7. FedNow has launched services with 41 banks and 15 service providers. Banks include JPMorgan, Bank of New York Mellon and US Bancorp, among others.

Uniswap Founder’s Twitter Account Hacked
Uniswap Founder Hayden Adams’ Twitter account was hacked by scammers.Hackers used Adams’ account to post a post to trick users into believing that UNI token gift packs were being distributed. The fake tweet mentioned the features of their new platform, along with the announcement that Uniswap would be giving away UNI to celebrate their new platform.

What Happened at Chainlink?
The Chainlink price managed to break the $8 level yesterday after a very long time. It is known that whales started collecting LINK with the recently announced CCIP system. At the same time, the open rates data on LINK also rose to 2021 highs. In addition, there were expectations that Chainlink founder Sergey Nazarov would give a speech yesterday and make important announcements about CCIP. In his speech, Nazarov talked about how he expects banks to meet and adapt to CCIP. Nazarov said that he expects banks and financial companies to create their own blockchains and explained to the audience in detail how this process will develop.

Solana Continues to Thrive
The Solana network experienced significant problems with the FTX events and network outages, but then began a slow recovery process. In the process, Solana has also made significant progress in terms of credibility. Solana skipped the first half of 2023 with only one blackout, after making improvements following dozens of blackouts in the past years. The last interruption took place in February and there were no problems for nearly 6 months after that.

Solana Announces Solang System
Solana announced the Solang platform on his Twitter account. Solang was introduced as a powerful compiler that aims to enable Ethereum developers to integrate into the Solana ecosystem. With Solang, developers specializing in Etherum’s Solidity programming language and EVM technology will be able to create and deploy smart contracts on the energy-efficient Solana network, increasing the platform’s potential developer base and enhancing Solana-Ethereum compatibility.


BITCOIN(BTC)

Bitcoin is pricing at $ 29,820 with a 0.07% gain in value as of today morning hours. Bitcoin continues to be priced stuck in the lower band of the channel. After yesterday’s positive pricing, we see that the price fell back to the support zone with the selling pressure in the evening, but did not break again. We can say that the most logical choice in Bitcoin would still be to evaluate the channel movement and that these levels will continue to work until the 29,500 breakout. At the same time in Bitcoin, we can say that the market dominance has fallen below the 50% level during the inactive period and that these movements may continue if positive price movements continue at the bottom.

ETHEREUM (ETH)
ETH, which gained 0.08% as of morning hours, is priced at $ 1893. While the horizontal channel movement continues in Ethereum, we also see a new horizontal movement in the range of 1880-1920. The primary target for Ethereum, which is currently breaking the 1895 level, which is the middle band of the big channel, will be to break the 1915-1920 range upwards.

AVALANCHE(AVAX)
AVAX is priced at $ 13.87 with a gain of 0.07% as of today morning hours. In AVAX, after a succession of upside breakouts of descending moves, the price failed to break through the $14 zone and retreated back to the highest descending move resistance and made a re-test attempt. If AVAX can stay strong in this region, we can say that we can see a rise with a target of 14.60 afterwards, and if the 13.80 support breaks, we can say that the 13.60 region will be an important stop zone.

CHAINLINK(LINK)
LINK is priced at $ 8.155 with a 2.46% loss in value as of today morning hours. In LINK, the CCIP and positive news flow brought a significant rise, while the price rose from the $ 7 zone to 8.4 levels and faced selling pressure before reaching the main resistance zone of 8.77. We think that we can see another significant movement in LINK in the event that the positive price movement is slightly stagnated and profit sales occur, but the 8.77 level is broken. Therefore, we can say that it may be the most logical option for investors holding LINK to adjust their stop levels according to the price and run their positions with an upward expectation without selling growth.

COMPOUND(COMP)
COMP is priced at $74.48 with a gain of 1.07% as of today morning hours. After breaking to the upside on the 3-day chart, COMP completed its re-test and started to rise. After breaking its horizontal movement upwards in a short time with a rise of close to 180%, I can say that its positive pricing may continue. At COMP, our levels for now are the 70-95 range, and then we will try to evaluate the 95-110 range. At the same time, in the short term, we see that it continues to rise after re-testing the 74.50 zone, which it is currently above.