With new currencies and tokens appearing every day, the cryptocurrency market is a hub of potential and innovation, giving investors the possibility to participate in a whole new manner of exchanging wealth and keeping it.
New cryptocurrency project Sparklo (SPRK) recently attracted a lot of interest and funding during its stage one presale phase, luring investors away from well-known coins like Polygon (MATIC) and Chainlink (LINK).
Investors Lose Trust in Polygon (MATIC)
According to on-chain statistics, the Polygon (MATIC) ecosystem’s investors and network participants seem to be losing hope after the ETH2.0 switch’s completion.
Data shows that soon after the Shapella Upgrade was completed on April 12, the Weighted Sentiment began to decline. Between April 12 and May 1, the Polygon (MATIC) Weighted Sentiment dropped by 148%, from 0.92 to -0.45.
Weighted Sentiment measure compares the ratio of positive to negative mentions to assess market opinion of a project. When a project’s weighted sentiment, in this case, Polygon (MATIC), is consistently negative over a lengthy period of time, it means that investors are becoming more concerned about the project’s long-term viability.
This unfavorable reputation may have a long-term effect on Polygon (MATIC)’s pricing prospects unless the Polygon (MATIC) team can introduce fresh, distinctive product offers or community outreach initiatives to pique investor interest.
Are the Bears in Control of Chainlink (LINK)?
On April 26, Chainlink (LINK) fell to $6.735 due to a recent negative trend. The bulls made an effort to rebound, pushing the price of Chainlink (LINK) to a strong 24-hour high of $7.30, but it eventually declined to a 7-day low of $6.773.
The current FUD and mounting regulatory pressure in the United States caused the price of Bitcoin (BTC) to drop below $29,000. If the bulls get considerable traction, the rest of the altcoin market, including Chainlink (LINK), may be impacted since BTC may test $30k and climb higher.
The Chainlink (LINK) market is still down as of this writing, down 2.49% to $7.06. CoinMarketCap data shows that during the decline, Chainlink (LINK)’s 24-hour trading volume increased by 30.83% while its market cap fell by 3.11%.
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Investors Run to Invest In Precious Metals with Sparklo (SPRK)
Real-world precious metals like platinum, gold, and silver serve as the foundation of the Sparklo initiative. The platform will allow investors to purchase fractional NFTs backed by precious metal.
Sparklo intends to achieve this aim by fractionalizing investments through the use of non-fungible tokens (NFTs). Retail investors can use this strategy to buy affordable modest amounts of platinum, silver, or gold.
Sparklo is presently available for presale at a price of $0.017, with all purchasers receiving a 30% bonus. However, this offer will end by May 5th 2023.
The platforms’ KYC verification is close to completion, the smart contract has been audited, and all liquidity has been locked for 100 years. All of these are evidence of the team’s efforts to safeguard the investing platform.
Find out more about the Sparklo presale: