What’s Next for Polygon Price as MATIC Tanks After SEC Filing? Launchpad XYZ Remains Bullish as it Approaches $1 Million

The recent SEC allegations shook the crypto world, labeling Polygon and several other cryptos as securities. This regulatory scrutiny has led platforms like Robinhood to delist these tokens, including Polygon’s MATIC.

With investor panic on the rise, MATIC’s value plummeted by nearly 30% on 10 June. Moreover, as more investors withdraw their tokens from various DeFi smart contracts, will the resultant overflow instigate further sell-offs?

However, despite the prevailing market uncertainty, some newcomers like Launchpad XYZ continue to reach milestones and maintain their upward trend.

The Effect of Regulatory Storm on Polygon

On-chain analytics firm, Lookonchain, affirmed the ongoing bearish outlook for Polygon. It reported that approximately 14 million MATIC tokens (worth $9.8 million) were deposited into exchanges, and its price plunged by nearly 30%.

Notably, the number of active addresses and transactions on Polygon witnessed a significant downturn recently. This fallout was also visible in Polygon’s Total Value Locked (TVL), which witnessed a substantial dip.

However, a recent uptick in network activity could signal a possible rebound, thanks in part to the progress of the zkEVM (zero-knowledge Ethereum Virtual Machine), which might boost Polygon’s DeFi ecosystem.

Additionally, as buyers stepped in at the $0.6 support level, MATIC rebounded by about 10% over the past two days.

But the resurgence might be short-lived if the SEC progresses on its lawsuit against Binance and Coinbase, confirming Polygon as a security.

This categorization could cause many problems for Polygon, subjecting them to stringent regulatory oversight and stifling growth. This could trigger a domino effect, with more exchanges likely to follow Robinhood’s footsteps and delist Polygon.

In reaction to the allegations, Polygon Labs tried to distance MATIC from U.S. markets. They highlighted that Polygon was developed and deployed outside the U.S., targeting a global audience and maintaining its focus on network security.

Analyzing Polygon’s tweet, one can interpret their stance as assertive yet cautious. They emphasized their international origins and operations and MATIC’s critical role in maintaining network security.

However, they did not directly address the security issue or the SEC’s allegations, which leaves their legal standing open to speculation.

As the crypto market navigates these turbulent times, traders and investors explore alternative tokens to withstand the storm.

Which Tokens Defy the Trend?

Focusing on cryptos showing resilience and steady growth is vital in the current regulatory climate. One such contender, defying the bearish trend, is Launchpad XYZ.

The platform’s presale has grown steadily despite the crypto storm, reaching milestones while other tokens take a hit. But what makes Launchpad XYZ different?

The Rise of Launchpad XYZ Continues as Presale Approaches $1 Million Milestone

Launchpad XYZ is a new blockchain project that aims to provide a centralized hub that assists newcomers and seasoned investors in smoothly navigating the complex world of Web3.

The platform has secured nearly $1 million in presale, evidencing the growing investor traction in this platform.

Launchpad XYZ whitepaper highlights equipping traders with insights that guide their buying, holding, and selling decisions, simplifying the investment process. This user-friendly approach can open the door to an influx of new traders.

The project’s dashboard provides real-time data, including market sentiments on various coins, an invaluable resource in today’s crypto market.

Also, the perpetual decentralized exchange (DEX) lets traders hedge their bets effectively, minimizing exposure to sudden market fluctuations. Coupled with a streamlined Web3 wallet creation process, the platform can reduce the barriers to entry into the Web3 ecosystem.

Furthermore, Launchpad XYZ is keeping pace with the booming NFT trend. It offers a platform for NFT enthusiasts to discover, trade, and curate NFTs and exclusive deals for those who list stake or custody blue-chip NFTs.

Moreover, users can unlock exclusive privileges by staking a minimum of 10,000 LPX tokens. Such benefits include lower transaction fees, entry to new NFT minting and exclusive presales, price reductions on services offered by Launchpad XYZ collaborators, and privileged early access to high-demand play-to-earn gaming experiences.

At press time, the project’s native $LPX token is available at a presale rate of $0.0445 USDT. With a listing price of $0.0565 USDT, early buyers can capitalize on $LPX’s upside potential.

Visit Launchpad XYZ Presale

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