Due to the expense of ownership and the difficulty of splitting it, investing in gold is more difficult than investing in cash or other assets. However, it is novel for cryptocurrencies to tokenize gold; this is why Sparklo (SPRK) is unique.
Due to its uniqueness, the Ethereum-based platform has gained momentum in the cryptocurrency market. Its attributes show it will be able to do better than its predecessors like Theta Network (THETA) and Litecoin (LTC).
Investing in precious metals through Sparklo (SPRK)
Sparklo blockchain-based financial platform users can invest using portions of NFTs backed by gold, silver, or platinum. When investors fully acquire the NFT, they may obtain the priceless asset.
With its presale price at just $0.017 and a 30% bonus on all purchases, Sparklo (SPRK) is giving early adopters a special opportunity to be a part of a platform vested in precious metals. Also, experts predict its value can increase by more than 5,000% towards the end of the year.
Investments in Sparklo (SPRK) are secure since the liquidity is guaranteed for 100 years. Also, the platform has passed its audit with InterFi Network while the KYC application is close to completion.
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Theta Network (THETA) price drops below $1.00
Theta Network price dropped below $1.00 and fell 10% from the previous week. It hurt the mood of the market, and now the price is turning around its downward trend. To signify a bearish trend, the Theta Network (THETA) price challenged the 200-day EMA and fell below the 50-day EMA. While Theta Network prices lack downside momentum, the fact that both EMAs are sloping in the same direction suggests that they will likely continue to consolidate.
THETA coin price is stuck between $0.850 and $1.300, with a breakout on either side likely to occur soon. If the price of Theta Network (THETA) continues to consolidate over the next months, a long-term base formation will be considered to have formed.
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At $0.0981, Theta Network’s price is now down -0.71% from yesterday. A 24-hour volume to market capitalization ratio of 0.0124 is used. At the beginning of February, Theta Network (THETA) pricing attempted to break through the $0.1300 ceiling. Sadly, it soon became a barrier, and the price was reduced.
Theta Network’s price afterward started to decline and soon corrected by 34%. The drop stopped, and a Doji candle developed at $0.8500. When prices lacked upward momentum and entered consolidation, buyers tried to recoup their losses and regain the 50-day EMA.
Litecoin (LTC) declines due to miners offload
The bullish speculators predicted the mining community’s propensity for stockpiling when the Litecoin (LTC) community began counting down the final 100 days before the next halving event. On-chain data, however, now shows a different picture.
Around the end of April, Litecoin miners sharply decreased their holdings, according to IntoTheBlock’s analysis of on-chain data.
2.56 million coins were in Litecoin (LTC) miner reserves as of May 1. However, on April 22 and 23, the miners’ balances dropped from 4.53 million LTC to 2.55 million LTC, as seen in the graph below.
The number of cryptocurrencies miners presently own but haven’t sold is called “miner reserves.” Investors might see a rapid drop in miner reserves negatively since it could mean miners are selling more of their block rewards.
At a market price of $88 per Litecoin (LTC) coin, the miners offloaded coins are currently worth about $174 million. Holders may soon witness a price decline if Litecoin demand does not keep up with the expanding market supply from the miners.
Find out more about the Sparklo (SPRK) presale:-
Website: https://sparklo.finance
Presale: https://invest.sparklo.finance
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Telegram: https://t.me/sparklofinance
