The US market recently experienced alarmingly high inflation, this is because food, housing and medical prices have surged. This also appears to have impacted the stock and cryptocurrency market badly, which saw Ethereum (ETH) shed at least $100 whilst Bitcoin (BTC) lost about $1000 within 24 hours.
Polygon (MATIC) experienced a dip as well but Dogeliens (DOGET) is still new, in presale and remains largely unaffected. This article will explore these cryptos, excluding Bitcoin (BTC), and examine how the recent changes and inflation may affect them.
DOGELIENS (DOGET) invades earth
Inflation is the increase in the price of services and goods in an economy. With an increase in the average price level, the unit of currency buys fewer services and goods than before. In other words, inflation is the lack of purchasing power of money.
Rising inflation causes an increase in interest rates, which gives lower stock market returns that reflect on the cryptocurrency market similarly. Now, why is this important for Dogeliens (DOGET)? This new blockchain has a cryptocurrency like any other, hence its price – upon launch – will be influenced by these same factors.
Dogeliens (DOGET) is a blockchain leveraging decentralized finance (DeFi). It’s a network for holders and users alike. Also, its open-source network gives everyone access to its code – which can also be modified to increase security. The native Dogeliens token (DOGET) is type BEP-20 and native to the network, it powers the ecosystem entirely.
Education is key for Dogeliens (DOGET), and the Dogeliens Academy provides you with an education portal encompassing math, geography, reading and writing; a rather novel idea. Also, a 2nd and 3rdpresale purchase of DOGET rewards you a 75% and 100% stacking presale bonus; learn more of Dogeliens’ king-sized gains here and how it works in a bear market in this link.
Polygon (MATIC) just makes Ethereum better!
Polygon (MATIC) is well established and Polygon (MATIC) generally follows the stock market (and inflation), like the Ethereum (ETH) chain it’s built on. Polygon (MATIC) is a layer-2 scaling network that exists alongside the Ethereum (ETH) chain, but Polygon (MATIC) also makes a separate chain which is quicker, cheaper per transaction and has a higher transaction per second (TPS).
Polygon (MATIC) simply makes Ethereum (ETH) function better, hence deeming Polygon (MATIC) a scalability solution. OpenSea, the non-fungible token (NFT) powerhouse, recently expanded its implementation to accommodate Polygon (MATIC), including other features from Polygon (MATIC).
Polygon (MATIC) users can expect Polygon (MATIC) to join OpenSea’s Seaport protocol soon. Polygon’s (MATIC) involvement with Seaport will bring features to Polygon (MATIC) like a no listing threshold, more transfers, as well as numerous creator payouts. This could make the native Polygon tokens (MATIC) value rise despite the inflation.
Ethereum (ETH) the kingmaker
Ethereum (ETH) is the decentralized network that caught everyone’s hearts, through its founder VitalikButerin. Ethereum (ETH) is what many would call the second most prized cryptocurrency now, and it experienced a drastic plunge recently; possibly due to inflation.
However, the Ethereum token is still maintaining the $1600 level as we speak, and this could increase as the 16th of September approaches. This data may signify the day of the merge, which may see it transition to a proof-of-stake (PoS) consensus mechanism.
This news is republished from another source. You can check the original article here.