Popular Youtube analyst Lark Davis shares his fundamental analysis of Bitcoin (BTC), Polygon (MATIC) and NFTs that can improve the market position of cryptocurrencies and change price action. Details cryptocoin.com‘in.
Bitcoin (BTC) news
Mortgage lender Milo will allow Bitcoin holders to buy real estate without dollars and deposits. With this move, it is aimed that users can spend Bitcoin directly. Bitcoin will be able to be used as collateral without the need to convert it to fiat money.
In another development, chipmaker Intel is preparing to unveil an energy-efficient Bitcoin mining chip. This is an ultra low voltage Bitcoin mining chip where less power will be needed for Bitcoin mining.
Polygon (MATIC) news
Let’s move on to Polygon (MATIC) news: Polygon has enabled EIP1559. The upgrade is estimated to burn 0.27 of the total MATIC supply each year, which is not a huge amount at the moment but the burning is still going on. MATIC’s supply is slowly declining as Polygon’s adoption rates increase, we could see the estimated 0.27% rise to 0.5% or perhaps 1% of the total supply each year.
NFT news
The latest news is about NFTs. NFT platform OpenSea reaches record monthly volume of $3.5 billion. OpenSea has passed the one million active user wallet. Users can trade NFT without having to pay the high price of gas fees.
In other development, the Coinbase NFT marketplace will support MasterCard payments. They are trying to make NFTs even more common by removing the difficulties. People will just have to come and swipe their credit cards. There has been massive adoption of NFTs happening this decade.
In another development, Animoca Brands spearheaded an $8 million funding round for the NFT platform Burnt Finance, built on Solana.
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