The largest bank in China, the Industrial and Commercial Bank of China (ICBC), has made a noteworthy move by referring to Bitcoin as “digital gold”. The cryptocurrency market is buzzing with this noteworthy acknowledgment from a major financial institution, with experts forecasting a possible rebound in Polygon (MATIC) and Algotech (ALGT).

The term “digital gold” refers to Bitcoin’s potential as a store of wealth, echoing the historical function of gold. This awareness may lead to further public usage and investment interest in cryptocurrencies.

Consequently, the values of cryptocurrencies like Polygon (MATIC), etc. may increase. This might set off a major spike in Polygon (MATIC) and ALGT prices, as the crypto market is already beginning to show signs of revival.

Here we will discuss why Bitcoin is referred to as digital gold and why Polygon and ALGT are the best choices for investors.

China’s largest bank calls Bitcoin ‘digital gold’, predicts increased mainstream adoption

Bitcoin is referred to as “digital gold” by China’s Industrial and Commercial Bank. The research contrasts Bitcoin with gold, emphasizing its capacity to maintain scarcity through mathematical agreement while addressing gold’s shortcomings.

Bitcoin’s financial features are deteriorating, while its asset attributes are improving. The paper highlights Bitcoin’s additional benefits, such as its ease of divisibility, authenticity, and portability.

Bitcoin is currently trading at $67,416, down 5% in the past week. The ICBC’s classification of Bitcoin as “digital gold” may lead to increasing public adoption and investment interest and potentially have a positive impact on the crypto industry overall.

Polygon (MATIC) community treasury launches 10-year plan to boost blockchain development

The Polygon community treasury has unveiled a 10-year plan to unlock 1 billion tokens, with 100 million tokens per year, to spur development on the blockchain. The program, independent of Polygon Labs, aims to provide economic support for the ecosystem’s growth.

Grants will range from 5,000 to 50,000+ MATIC, with a total of 35 million MATIC ($22 million) allocated for “Season 1”.

Applications are open until August 31, 2024. Initially, grants will be made in MATIC, but will eventually switch to POL, the new native token capable of being staked across multiple chains within the Polygon ecosystem.

Polygon (MATIC) price prediction

The Polygon (MATIC) price has fluctuated since its launch in 2019, reaching a high of $2.92 in 2021 and a low of $0.3228 in 2022. In 2023, it showed signs of recovery, reaching $1.56 in January. As of November 2023, the Polygon (MATIC) price is around $0.76.

Analysts predict a bullish scenario with a potential Polygon (MATIC) price of $5.44, while a bearish scenario could see it drop to $0.81.

Industry experts predict a Polygon (MATIC) price range of $1.79 to $12.56 by 2030, with some predicting $11.45. The Polygon (MATIC) price is highly volatile, and investors should be cautious when investing.

Algotech presale: last chance to invest in a revolutionary AI-powered trading platform

The Algotech (ALGT) presale phase has presented an exceptional opportunity for early investors to own a piece of this ground-breaking business.

The window of opportunity to purchase Algotech’s native ALGT tokens at discounted presale pricing is quickly closing due to a limited token supply and a quickly growing user base.

Algotech recently spent $1.2 million on H100 GPUs to improve the AI engine’s overall performance, accuracy, and speed. Algotech is a decentralized platform that uses algorithmic trading of cryptocurrencies to transform trade and investing methods.

 

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