ETH, MATIC, RABT: Understanding the Impact of April’s NFT Sales Drop on Key Cryptocurrencies

  • After a red hot period, NFT sales have plummeted in April, impacting top NFT platforms like Polygon and Ethereum.
  • Despite this downturn, the newly introduced Raboo AI-backed Social-Fi project is generating interest with its meme generator.
  • Investors are flocking to Raboo’s presale, indicating a potential revitalization of digital representation.

Explore the recent downturn in NFT sales, its impact on Ethereum and Polygon, and how the Raboo AI-backed Social-Fi project is stirring interest in the crypto market.

NFT Sales Plunge: How Bad Did Ethereum (ETH) Suffer?

The Ethereum blockchain, despite hosting the most expensive NFT sale in April, was the biggest loser in the NFT market last month. Ethereum’s NFT sales witnessed a substantial downfall, plummeting to $241 million, marking a notable 50.7% decrease in April. This decline sparked negative sentiment among Ethereum investors, leading to a worrisome price action with ETH trading at $3,056.86 – an 8.69% price drop in the last 30 days.

Polygon Price Prediction: MATIC Dropped by Over 18% in April; Is the Future Bleak?

Polygon, known for its scalability solutions, high performance, and strong security, has experienced a lackluster performance over the past 30 days, exacerbated by the NFT sales decline in April. However, despite a modest price surge of 3.35% in the last seven days of April, experts believe that the future around MATIC might not be bleak. Currently, MATIC trades at $0.7329 with a TVL of $897.26M.

Raboo (RABT): Conveniently Navigating the Turbulence of DeFi Universe

Despite the unrest in the DeFi world, Raboo remains undaunted. This revolutionary project combines Social-Fi, AI tech, and blockchain, offering amazing benefits for traders, including a reward system driven by AI and SocialFi. Raboo’s presale has been a success, selling almost a third of the tokens and raising over $1M. Raboo is also leading the way in the generative AI market, which is set to grow significantly in the next decade. The token is currently being sold for $0.0042— a 40% price increase in just weeks after the presale launch!

Conclusion

With Ethereum and Polygon experiencing a serious performance downturn, investors are looking for alternatives, and Raboo appears to be a promising option. Poised as the next 100x crypto, Raboo offers a brighter future for investors. You can participate in the Raboo presale here.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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