NFTs
Impact on Ethereum (ETH), Polygon (MATIC) and Raboo (RABT) explained
Digital representation and NFT was a hot space a few years ago. Remember the record sales, the million-dollar monkeys, and the seemingly unstoppable frenzy behind NFTs? This year it’s a reality, with NFT sales plummeting in April. What does this mean for major NFT platforms like Polygon and Ethereum? The newly introduced can Tail AI-backed Social-Fi project revitalizes digital representation with its meme generator? Let’s find out why investors are flocking to its pre-sale.
Drop in NFT sales: How badly has Ethereum (ETH) suffered?
Although the Ethereum blockchain had the most expensive NFT sale in April, with Cryptopunk #635 selling for $12.4 million, it remained the biggest loser in the NFT market last month. The Ethereum blockchain hosts the largest number of NFTs and took the biggest hit from last month’s decline in NFT sales. Ethereum NFT sales witnessed a substantial drop, dropping to $241 million, marking a notable 50.7% drop in April.
As expected, this decline provoked negative feelings and reactions among Ethereum investors. This is the reason for the worrying price action that Ethereum has been showing in recent days. ETH is currently trading at $3,056.86 – a price drop of 8.69% over the last 30 days.
Polygon Price Prediction: MATIC Dropped Over 18% in April; Is the future bleak?
Polygon, known for its scalability, high performance, and strong security solutions, didn’t take long to gain popularity among dApp adopters. However, its performance over the last 30 days has been weak and has gone from bad to worse following the drop in NFT sales in April. An intriguing thought on most investors’ minds is whether this turn of events represents the end game or whether there is light at the end of the tunnel.
In the last seven days of April, MATIC registered a price increase of 3.35%. As modest as this growth may seem, the Polygon price prediction is positive as experts believe it is a strong sign that the future surrounding MATIC may not be bleak. MATIC is currently trading at $0.7329 with a TVL of $897.26 million.
Raboo (RABT): Conveniently Navigating the Turbulence of the DeFi Universe
As the DeFi world continues to experience upheaval in recent days, Tail remains fearless. Raboo is a revolutionary project in the world of meme coins, combining Social-Fi, AI and blockchain technology. It offers incredible benefits to traders by featuring a reward system driven by AI and SocialFi. Furthermore, its pre-sale was a success, selling almost a third of the tokens and raising over $1 million.
Raboo is also leading the generative AI market, which is expected to grow significantly over the next decade. Experts predict that Raboo could be the next big thing in crypto, offering interesting prospects for investors. The Raboo presale is still ongoing and the token is currently selling for $0.0042 – a 40% price increase just a few weeks after the presale launch!
Conclusion
With Ethereum and Polygon experiencing a serious drop in performance, investors are desperately looking for alternatives and Raboo has stopped the search. Perfectly positioned as the next 100x cryptocurrency, investors are starting to see a brighter future with Raboo.
You can participate in the Raboo pre-sale here.