The crypto market is back with a bang this week, prompting numerous coins and tokens to experience surprise price surges.
Cardano (ADA) and Polygon (MATIC) were two of the primary beneficiaries, with both seeing their price rise substantially in the past three days.
However, it’s not just ADA and MATIC that are reaping the rewards of positive investor sentiment – the new analytics platform yPredict(YPRED) has also seen an uptick in interest during its highly-successful presale phase.
ADA & MATIC Soar as Crypto Market Sentiment Shifts
The crypto market has undergone a massive shift in sentiment this week, with investors now showcasing a level of positivity that hasn’t been seen since March.
Most cryptos have seen an uptick in buying interest, although ADA and MATIC are two that are experiencing a dramatic resurgence.
ADA has soared over 20% from Monday’s low and is now trading just above the $0.30 level.
MATIC has risen 18% during the same period – reaching the $0.70 region.
Both tokens have posted three bullish daily closes in a row, highlighting the consistency of investor buying power.
Not only that, but Cardano and Polygon have also broken through the 20-day exponential moving average (EMA), often used as a proxy for a token’s short-term trend.
If they can close past this EMA on the daily timeframe, it would signal a clear shift in investor sentiment – setting the stage for a powerful upwards push.
Cardano & Polygon Benefit from Spot Bitcoin ETF Filing
Interestingly, Cardano and Polygon are rising due to external market events, not because of anything specific to either token.
Although data from Cardano Blockchain Insights reveals that the number of ADA wallets has been rising since late May, this has not immediately impacted the token’s price.
A similar situation occurred with Polygon after a news report revealed that developers were discussing making the main network compatible with zero-knowledge technology.
Thus, the ongoing price action appears to stem from a notable uptick in institutional interest in Bitcoin (BTC).
The increased interest was evidenced last week when BlackRock filed to launch the US’s first spot BTC ETF.
Since that filing, two other institutions, WisdomTree and Invesco, have also applied for their own ETFs.
These filings highlight the growing interest in Bitcoin from giant asset managers – which many investors view as a sign of confidence in the coin’s prospects.
This has created a positive contagion effect that has rippled throughout the market, prompting price increases in tokens like Cardano and Polygon.
Overall, the recent price action in Cardano and Polygon is a positive sign for the market as a whole – suggesting further gains could be imminent.
Which Other Altcoins Are Also Rising This Week?
In addition to Cardano and Polygon, several other altcoins are rising this week.
One of the standout performers is yPredict – a decentralized crypto prediction platform gaining immense traction through its ongoing presale.
AI-Powered Crypto Analytics Platform yPredict Takes the Market by Storm
yPredict(YPRED) is a Polygon-based platform that uses artificial intelligence (AI) to provide accurate price predictions for thousands of cryptocurrencies.
The platform is still in its presale phase, yet has already attracted colossal attention from traders – helping to raise over $2.5 million in funding.
Describing itself as the “world’s first all-in-one AI ecosystem,” yPredict will include various features designed to streamline the trading process.
Some of the most prominent features include AI trading signals, real-time sentiment analysis, AI-powered technical analysis, and automated chart pattern recognition.
As outlined in the project’s whitepaperyPredict will also have a custom-built marketplace where machine learning (ML) developers can offer their advanced predictive models as subscription services.
Subscription fees will be denominated in YPRED – the platform’s native ERC-20 token.
If that wasn’t enough, the yPredict platform will also boast a lightning-quick trading terminal, on-chart trading, and lucrative YPRED staking rewards.
Combining all these features has created a tremendous buzz around yPredict, leading to over 29,000 people joining the project’s official telegram channel.
Moreover, yPredict reportedly has more than 20,000 people on its waiting list – highlighting the platform’s immense popularity.
With its innovative AI-powered features and growing popularity, yPredict is poised to become a significant player in the crypto analytics space.
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