The Crypto Fear and Greed Index (CFGI) has surged to 66, indicating a prevailing sentiment of “greed” in the cryptocurrency market. As investors tread the line between fear and greed, notable movements in Dogecoin (DOGE), Shiba Inu (SHIB), Rebel Satoshi (RBLZ), and Bonk (BONK) are catching the attention of the crypto community.

CFGI in the Green
The Crypto Fear and Greed Index (CFGI), currently standing at 66 out of 100, serves as a pivotal barometer reflecting the prevailing sentiment within the cryptocurrency market. Ranging from extreme fear at 0 to extreme greed at 100, this index provides investors with valuable insights into market dynamics.

With the CFGI positioned in the “greed” zone, indicating a heightened willingness among traders to engage in buying activities, it shows the interplay between investor psychology and market trends.

As traders navigate this balance, the CFGI becomes an essential tool for assessing risk appetite and potential market shifts, offering an understanding of the emotional landscape influencing crypto transactions.
DOGE: Rise in Network Adoption Amid Price Struggles
The Dogecoin (DOGE) ecosystem has witnessed an unexpected surge in adoption, defying market expectations. In the spotlight is a notable metric — the growth in new non-zero DOGE addresses.
Santiment’s on-chain data reveals a staggering increase of 413,800 such addresses within the past week, holding between 0.001 and 1 DOGE. This surge in adoption occurred against a backdrop of a 23% decline in DOGE prices, emphasizing a curious decoupling between network adoption and market value.

These new non-zero wallets may be a result of existing users leveraging the newly introduced DRC-20 token standard on the DOGE network.

SHIB: Top Non-Exchange Addresses Accumulate
Shiba Inu (SHIB) has experienced a single-day surge of over 5%, breaking a prolonged period of sideways movement.

Top non-exchange SHIB addresses have accumulated a substantial amount of the cryptocurrency over the past two months, according to market intelligence platform, Santiment. The total supply held by these addresses has increased from 493.42 trillion to 497.11 trillion.

In contrast, top exchange SHIB addresses show a decline in supply, indicating liquidation by token holders. This divergence suggests that while some investors opt for short-term gains, others are focused on the enduring value proposition of SHIB.

BONK Shows Strength
Within the Solana ecosystem, Bonk has emerged as a meme coin capturing attention with its vibrant community and strategic partnerships. The project’s unique approach, airdropping 50% of its total supply to the Solana community, emphasizes fairness and inclusivity. Notably, Binance’s decision to list perpetual futures for BONK has ignited discussions on its potential impact on the token’s price trajectory.

While Bonk has experienced an 800% increase over the past year, recent market movements indicate a 5% rise in the last 24 hours and a 23% decrease in the past 30 days, according to data on CoinGecko.

The Rebel Satoshi (RBLZ) Presale
Rebel Satoshi’s meme coin, RBLZ presale is live now.
The project claims to be on a mission to unite the Web3 community against centralization and oppressive rules.

The token RBLZ, serving as Rebel Satoshi’s governance and membership asset, offers investors access to a staking program, an NFT marketplace, and a play-to-earn (P2E) game.

As Rebel Satoshi enters Round 5 of its presale, the price of RBLZ stands at $0.0224, with over 70% of the tokens allocated for this phase already sold. A vast array of crypto assets are accepted on the platform, fostering a seamless onboarding process.
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Why Vitalik Buterin Praised Polygon (MATIC) for Its Revolutionary Tech

In Brief
Polygon releases the "Type 1 prover," enhancing blockchain scalability and interoperability.
Vitalik Buterin supports the advancement, seeing potential for a unified blockchain industry.
Cryptocurrency analysts are bullish on MATIC, predicting strong upward price movement.
New milestones often mark significant leaps toward a more interconnected and efficient cryptocurrency market. One such landmark achievement by Polygon has captured the crypto community’s attention, including Ethereum co-founder Vitalik Buterin.

This development involves the release of the “Type 1 prover,” a novel component designed to enhance the scalability and interoperability of Ethereum-compatible networks through zero-knowledge proofs.

Polygon Unveils New Technological Advancement
Polygon’s recent unveiling of the Type 1 prover represents a pivotal moment in the blockchain industry. Indeed, it enables any network compatible with Ethereum’s EVM standard to transform into a Layer 2 network. This integration facilitates a seamless connection to Polygon’s expansive ecosystem and marks a new era of blockchain efficiency and accessibility.

The technological brilliance of this advancement has not gone unnoticed by Vitalik Buterin. He has long championed the potential of zero-knowledge proofs to elevate the capabilities of Layer 2 networks, bringing them on par with their foundational blockchains.
“Personally, my hope is that everything becomes Type 1 over time, through a combination of improvements in ZK-EVMs and improvements to Ethereum itself to make it more ZK-SNARK-friendly. In such a future, we would have multiple ZK-EVM implementations which could be used both for ZK rollups and to verify the Ethereum chain itself,” Buterin wrote.
The significance of this breakthrough lies in its potential to unify the fragmented blockchain industry. By allowing EVM chains and optimistic rollups to connect without modifications to the Type 1 prover and subsequently to Polygon’s Aggregation layer, networks can tap into Ethereum’s vast liquidity and value.

This achievement is a critical component of Polygon’s roadmap. It emphasizes the integration of “zero-knowledge” or ZK cryptography as a cornerstone technology for future developments.

The Type 1 prover promises an unparalleled level of compatibility with Ethereum. It boasts the capability to generate ZK proofs for Ethereum mainnet blocks at a minimal cost per transaction. Therefore showcasing the efficiency and affordability of this advanced cryptographic method.
“With the Type 1 upgrade, proofs created by the Polygon zkEVM prover in Type 1 mode are already being generated for mainnet Ethereum blocks at an average cost of $0.002 to $0.003 per transaction (>36x faster than any other Type 1 prover). With Plonky3 and zkEVM improvements, expect a 30 to 50X reduction in cost over the next year,” Polygon Labs wrote.
Analysts Turn Bullish on MATIC Price Potential
Amidst this technological stride, the price action of MATIC has drawn bullish outlooks from different analysts. Sentiments range from optimism about buying opportunities during the crypto bull run to expectations of a strong upward movement. The market’s reaction underscores the potential impact of Polygon’s innovations on its token’s value.

For instance, Mister Crypto pointed out that MATIC is “lagging hard in this crypto bull run,” suggesting it could be an opportune moment to acquire the token at a lower price. Concurrently, Crypto Rand highlighted the token’s “consolidation” phase following its breakthrough of a significant resistance level, hinting at a potential bullish surge.

Furthermore, Cold Blooded Shiller underscored MATIC’s performance on higher time frames, describing it as “one of the best charts in crypto at the moment.”

“MATIC doing that thing where it’s like ‘haha I’m so weak at resistance oooh please short me’ then BAM it hits the upside,” Cold Blooded Shiller said.
Polygon’s Type 1 prover is a beacon for the future of blockchain interoperability and efficiency. As speculation mounts about MATIC’s future price action, the anticipation for what is next in Polygon’s journey is palpable. The expert validation from figures like Vitalik Buterin bolsters this.