Bitcoin (BTC) and Ethereum (ETH) traded red during the press on Sunday night amid uncertainty as to whether Tesla Inc. (NASDAQ: TSLA) Elon Musk hinted at dumping on the carmaker’s cryptocurrency holdings, but there is one coin that broke the trend last week.
What happened: Polygon (MATIC) jumped 69.63% over a seven-day period leading to push-ups. On a 24-hour basis, MATIC traded 1.99% higher at $ 1.65.
Contrast this with BTC, which fell 22.82% over a seven-day period, and ETH, which fell 11.29%.
During the press, on a 24-hour basis, BTC fell 4.48% to $ 45,398.65, while ETH traded lower by 9.2% to $ 3,440.47.
On Sunday, Musk may have signaled that Tesla could dump the rest of its BTC holdings. The company revealed in its first quarter results that it sold $ 272 million in cryptocurrency during the period after recording a $ 1
Why it is important: The MATIC power supply network hopes to solve problems affecting Ethereum, such as the high “gas” fees required for transactions and confirmations, according to the project’s website.
Lately a number Dogecoin (DOGE) appeared lookalikes, which further increase charges for the ETH network, as they occupy block space in the chain of the latter, MarketWatch reported. DOGE was trading 7.35% lower at $ 0.49 in the press.
See also: How to buy Dogecoin (DOGE)
Coins that are said to overload the Ethereum network include SHIBA INU (SHIB), Dogelon Mars (ELON) and Kishu Inu (KISHU), according to Block’s Research Director Lary Cermak.
I don’t have the exact numbers for this, but anecdotally these new copies of the Doge take nonsense from the last block spaces and cause gas spikes up to 300+
And many others. It will end very badly
– Larry Chermak (@lawmaster) May 10, 2021
Recently, coins that complement or compete with Ethereum, increased interest. Others that have risen include AAVE (AAVE) and Cardano (ADA) increased by 25.21% and 11.72% over a seven-day period.
Read more: Elon Musk considers the idea of creating a new crypto if Dogecoin cannot be scaled