MATIC Addresses Mostly Inactive While Ethereum Addresses Surge in Rollblock (RBLK) Activity

The World of DeFi: Constantly Fluctuating

The world of DeFi is always fluctuating. Promising projects like Polygon can go from bullish to bearish in just days, and Ethereum has started to see a price surge after brief periods of downward price movements. Despite all of this noise, many analysts have noticed Ethereum addresses buying up a new trending altcoin that is disrupting DeFi: Rollblock (RBLK) which has raised over $950,000 in just a few weeks.

Up to 92% of Polygon (MATIC) Addresses Are Down In Q2

Currently, Polygon’s token is in the spotlight for a reason that should worry investors. According to recent data, a staggering 92.91% of Polygon addresses are out of money, meaning that the current value is lower than the purchase price of Polygon. This situation has been made worse by Polygon’s price drops, recently hitting a nine-month low.

Despite the pessimistic outlook, entry volumes for Polygon on various exchanges have seen significant spikes, which is a typical indicator of selling pressure as investors move their tokens to exchanges, likely to sell. However, the latest trends reveal a steady decline in Polygon entries, indicating that immediate selling pressure might be diminishing. For a bullish reversal to gain some momentum, a major bullish trigger related to the Polygon network or broader crypto market is needed.

Ethereum Seeing Whale Activity

On the other hand, Ethereum (ETH) has been experiencing a robust rebound. The price of Ethereum recently surged by 5% to exceed $3,500, partially due to increased whale activity. The whale activity is preceding the spot Ethereum ETF launch due on July 8. On-chain data reported by Spot on Chain shows significant whale activity, with a massive 60,000 Ethereum, valued at $203 million, being withdrawn from the crypto exchange Bitfinex by Abraxas Capital.

This whale activity has also led to a 4% rally in Ethereum’s price, giving the whale an unrealized profit of nearly $6.5 million. As of now, Ethereum’s price is trading at around $3,499 with a market cap of $420.7 billion. The daily trading volume for Ethereum has also increased by 50% to $9.8 billion. For this Ethereum price rally to sustain, it must close daily above $3,500, which would set the stage for the next target levels of $4,000 and above.

Rollblock (RBLK) Gains Huge Investor Attention

During these ongoing developments, many Ethereum addresses are reportedly loading up on Rollblock (RBLK), a new altcoin that is shaking up the DeFi space. Rollblock is pioneering the combination of gambling with blockchain technology, offering a fully functional casino platform that is already live and generating revenue. The Rollblock Casino features over 150 games from more than 10 different online gaming providers, including casino favourites like blackjack, poker, roulette, and slot machines.

Rollblock will also introduce sports betting to the platform very soon, allowing users to bet on a range of markets and events, including:

• Soccer
• NBA
• NFL
• Golf
• Tennis
• Boxing
• Formula 1

This could result in millions of dollars of their native token, $RBLK, being purchased each week after the expansion.

Rollblock aims to disrupt the $450 billion gambling industry, which is expected to grow to nearly $750 billion by 2028. One of the main selling points of Rollblock is that users don’t need to pass any KYC checks or intrusive background checks to start playing. All they need to sign up is an email address or a decentralized crypto wallet to connect to the platform.

Rollblock’s token also plays a significant role in its ecosystem. The token acts as a medium of exchange but also a way for holders to earn rewards, which come through Rollblock’s unique revenue-sharing model. Up to 30% of its weekly revenue is shared with $RBLK holders through a buyback and burn mechanism. Half of the tokens bought back are burned, making the supply of $RBLK scarce and highly deflationary, while the other half are distributed as staking rewards to $RBLK holders. This mechanism by Rollblock has created one of the highest APY in the entire crypto market, which will attract investors in droves.

Right now, Rollblock is in Stage 3 of its presale, with tokens being sold at just $0.015 per token. This is already a 50% increase for early investors who got in at the introductory price of $0.01. Because of the expected exponential growth, many analysts predict that Rollblock will experience an 800% increase in the presale alone, with some even forecasting 100x gains in 2024 alone.