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Cardano and Polygon are among the top cryptocurrency market performers this week, pumping 4.5% and 9%, respectively. While projects have struggled in recent months due to the looming threat of SEC legal action, the commission’s losing ground in other legal battles has reignited investors’ confidence.
Meanwhile, traders are rallying behind TGC token, a new gamblefi token that looks poised to grow after raising $1.4 million in its presale.
Bullish On-Chain Activity and SEC’s Bluff Enable MATIC and ADA to Rally
Cardano and Polygon have suffered tremendously since the SEC sued Coinbase and Binance in June, with both projects referenced as securities.
However, the SEC has recently lost ground on numerous fronts, dropping its case against Ripple Labs execs this week and not appealing a court’s verdict for it to revisit Grayscale’s Bitcoin ETF application.
Meanwhile, both Coinbase and Binance are performing well against the SEC in their cases. These factors collectively suppress the market’s fears about the threat of the SEC, enabling projects like Cardano and Polygon to flourish.
The bullish sentiment is reflected in on-chain activity, with Cardano’s stablecoin value climbing significantly recently, touching its highest level since DeFiLlama began recording data in November 2022.
Cardano’s TVL has also climbed, with numerous X commentators weighing in on what it could mean for the network’s future.
According to Cardano YODA, its growing TVL illustrates growing “trust and adoption in the project.”
Alexander Legolas attributes Cardano’s growing TVL to its ongoing ecosystem expansion. Compared to other chains, Cardano’s development has been slow but is incrementally increasing.
According to the analyst, recent ecosystem developments could cause a significant amount of Cardano’s supply to be locked in dApps in the next bull run, causing its price to explode.
Meanwhile, Polygon’s new Polygon zkEVM’s total value locked has experienced an uptick recently.
Polygon zkEVM is a new layer 2 blockchain created by Polygon Labs that focuses on security and decentralization. It leverages Ethereum for finality but requires little on-chain storage compared to other layer 2 rollups.
However, this is just one of Polygon’s recent improvements, with the project advancing its governance mechanism this week as it strives towards decentralization.
A new Polygon Improvement Proposal (PiP) was introduced to implement a 13-person council to facilitate future smart contract upgrades.
Yet despite the bullish advancements of both projects, their upsides remain limited due to the significant market caps they hold.
Newer projects can often yield much more significant gains, with one of those being TG Casino, which analysts believe could see huge gains in the coming months.
TGC Token Also Bullish as Presale Hits $1.4 Million With Investors Drawn to Promising GambleFi Tokenomics
TG Casino is a new Telegram-based crypto casino that is currently in presale. Despite launching less than a month ago, the presale has fared in popular demand, already raising over $1.4 million.
It aims to capitalize on the emerging crypto casino trend, which has seen new project Rollbit amass a $500 million market cap despite the bear market.
However, TG Casino boasts several advantages. For instance, launching as a Telegram-native casino makes gambling quicker and more accessible; furthermore, it is KYC-free, and users do not need to create an account.
TG Casino’s recent success has captured the attention of top industry figures. According to HotCuppaCrypto, the project could do a 100x in the coming months thanks to the innovative use case it brings to the rising crypto casino trend.
Meanwhile, the Crypto News YouTube channel recently covered the project and stated it is about to blow up.
One of its most anticipated features is its buyback mechanism, which repurchases $TGC with a portion of the platform’s revenue. It will send 60% of tokens to staking rewards and burn 40%, significantly bolstering the token’s supply and demand dynamics.
With this in mind, it is no surprise that the presale is quickly selling out. However, this means potential investors must act fast to avoid missing out.
Visit TG Casino Presale
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