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 is a reality check with NFT sales plummeting in April. What does this mean for major NFT platforms like Polygon and Ethereum? Can the newcomer Raboo Is an AI-backed Social-Fi project revitalizing digital representation with its meme generator? Let’s find out why investors are flocking to its pre-sale.
NFT Sales Dive: How Much Has Ethereum (ETH) Suffered?
Although the Ethereum blockchain recorded 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 it was hit hardest by last month’s decline in NFT sales. Ethereum NFT sales saw a substantial decline, falling to $241 million, a notable drop of 50.7% in April.
As expected, this drop sparked negative sentiment and reactions among Ethereum investors. This is the reason for the worrying price action that Ethereum has shown in recent days. Currently, ETH is trading at $3,056.86, representing a price drop of 8.69% over the last 30 days.
Polygon Price Prediction: MATIC Fell Over 18% in April; Is the future dark?
Polygon, known for its scalable solutions, high performance and strong security, did not take long to gain favor among dApp adopters. However, its performance over the past 30 days has been lackluster and has gone from bad to worse following the decline in NFT sales in April. A puzzling question on most investors’ minds is whether this turn of events is an endgame or if there is light at the end of the tunnel.
Over the last seven days of April, MATIC saw a 3.35% price increase. As modest as this growth may seem, Polygon’s price forecast is positive as experts believe it is a strong signal that the future around MATIC may not be bleak. Currently, MATIC is trading at $0.7329 with a TVL of $897.26 million.
Raboo (RABT): easily navigate the turbulence of the DeFi universe
As the DeFi world continues to experience turmoil in recent days, Raboo remain fearless. Raboo is a revolutionary project in the world of meme coins, combining Social-Fi, AI technology and blockchain. It offers incredible benefits to traders, with an AI-driven reward system and SocialFi. Additionally, its presale was a success, selling almost a third of the tokens and raising over $1 million.
Raboo is also leading the way in the generative AI market, which is expected to see significant growth over the next decade. Experts predict that Raboo could be the next big thing in crypto, offering exciting prospects for investors. The Raboo presale is still ongoing and the token is currently priced at $0.0042, a 40% price increase just a few weeks after the presale launched!
Conclusion
With Ethereum and Polygon experiencing a serious decline in performance, investors are desperate for alternatives and Raboo has halted the search. Perfectly poised to become the next 100x crypto, investors are starting to see a brighter future with Raboo.
You can participate in the Raboo presale here.