Polygon Unveils Upcoming Project Polygon 2.0, Claiming “Value Layer” of Internet
Polygon has announced the upcoming release of Polygon 2.0, which aims to establish the "value layer" of the internet. The project will be rolled out in stages, with details to be revealed over the coming weeks.
Securities Services Firm Robinhood’s Net Accumulated Funding Accounts Hit $23.1 Million in May, Up 1.3% From a Year Ago, but Active Users Fell 27%
According to news released by LiveSquawk, the securities service company Robinhood’s net cumulative fund account reached 23.1 million US dollars in May, a year-on-year increase of 1.3%, but the number of active users fell by 27%. Previously, Robinhood will end support for Cardano (ADA), Polygon (MATIC) and Solana (SOL) at 6:59 GMT on June 28.
Cryptocurrency Market Sees $49.5 Billion Outflow Since Last Friday's wMarket Report
The cryptocurrency market has experienced outflows of $49.5 billion since the last wMarket report, resulting in a current market cap of $1.06 trillion, a 4.5% decrease from $1.11 trillion. Bitcoin and Ethereum saw their market caps fall by 2.3% and 5.1%, respectively, over the weekend.
Market Makers Move Millions of Dollars Worth of Polygon to Crypto Exchanges Amidst Price Drop
On Friday night, key market makers Jump Trading and Cumberland sent millions of dollars worth of Polygon (MATIC) to various crypto exchanges, according to blockchain data reported by analytics firm Lookonchain.
Arbitrum Leads Ethereum Rollup Market with $4 Billion in Capital Flows
Arbitrum has gained a significant market share due to the high demand for Ethereum rollups. According to CoinShares, Arbitrum is the top choice for capital flows away from Ethereum, with $4 billion in capital attracted as of May-end. Polygon follows closely with $3 billion, while Optimism and dYdX have attracted $983 million and $342 million, respectively. Despite a recent software bug causing network stress, Arbitrum has surpassed its rival protocols, with over seven million total addresses over time.
SEC's Lawsuits and Robinhood's Decision Cause Significant Drop in ADA, SOL, and MATIC Cryptocurrency Prices
The cryptocurrency market is facing uncertainty following the Securities and Exchange Commission's (SEC) recent action against assets that may be considered securities. This has resulted in a significant drop in the value of popular cryptocurrencies such as Cardano (ADA), Solana (SOL), and Polygon (MATIC), raising concerns about their long-term sustainability. In the past 24 hours, these three cryptocurrencies have seen an average decline of 23% in their value, with a collective capital outflow of $6.04 billion in just one day. The SEC's lawsuits against crypto exchanges Binance and Coinbase for listing unregistered securities have also contributed to the drop in asset prices.
Shiba Inu (SHIB) Survives Robinhood's Delisting of Cryptocurrencies
Robinhood, the American trading platform, has announced that it will delist Cardano, Solana, and Polygon from its platform by June 27, 2023. However, Shiba Inu (SHIB), the popular canine-themed cryptocurrency, will remain unaffected by this decision. The burn rate of SHIB tokens has increased significantly, potentially contributing to increased scarcity and value. The delisting decision may have been influenced by recent lawsuits involving major exchanges like Binance and Coinbase initiated by the United States Securities and Exchange Commission (SEC).
Robinhood to Delist Cardano, Polygon and Solana Following SEC Charges Against Crypto Exchanges
Robinhood, a brokerage firm, has announced that it will delist Cardano, Polygon, and Solana after the US Securities and Exchange Commission (SEC) classified them as securities in its charges against two major crypto exchanges. The firm will end support for the three cryptocurrencies on June 27, but investors can still buy, sell, and hold ADA, MATIC, and SOL until the deadline.
Kraken Launches NFT Marketplace Supporting Over 250 Tokens Across Ethereum, Solana, and Polygon Blockchains
Kraken, a cryptocurrency exchange, has officially launched its NFT marketplace after beta testing, offering support for over 250 NFTs across Ethereum, Solana, and Polygon blockchains.
Grill.chat Implements EVM Wallet Compatibility for Crypto Transactions and Ethereum Identities in Chat Rooms
Grill.chat, a chat app on the Subsocial network, has integrated Ethereum Virtual Machine (EVM) wallet compatibility, enabling users to chat using their Ethereum identities and send crypto via Polygon. The app offers over 70 chat rooms focused on crypto-related topics and aims to attract new Web3 projects to build their communities on the platform.
Taurus Partners with Polygon to Allow Banks to Tokenize Assets on Ethereum Scaling Solution
Swiss crypto platform Taurus has partnered with Polygon to allow banks to tokenize assets on the proof-of-stake network. This integration creates a link between the crypto industry and European banking, enabling traditional financial instruments to be reimagined on a modern, decentralized foundation. Taurus clients can now benefit from low fees and faster transactions for tokenization use cases such as equity, debt, structured products, funds, and NFTs. The partnership will create opportunities in the tokenization space and enable the automation of securities behavior, including dividend payments, coupon payments, stock splits, and compliance rules.
Polygon zkEVM Protocol Reports Significant Growth in Liquidity and Gas Optimization in May
Polygon's zkEVM protocol has released its key performance milestones for May, highlighting significant growth in liquidity and total assets locked exceeding $18 million. The protocol has also recorded gas optimizations, making it one of the cheapest Layer 2 outfits on Ethereum. Despite competition from other L2 protocols, Polygon zkEVM is working to beat its personal best and continue carving a niche for itself in the industry. The protocol reported breaking all-time highs in single-day transaction volume, processing over 25,000 transactions on May 25 on the Polygon zkEVM mainnet beta.
Polygon ($MATIC) Staking on the Rise: Can Price Reach $2?
Polygon's (MATIC) price has increased by 12% in the past week, but is struggling to break above the $1 support line. On-chain data suggests that the MATIC price could reach $2 in the long run if certain bullish signals remain in place. After Ethereum's Proof of Stake transition in April, MATIC initially suffered a contraction due to investors moving their staked assets to the Ethereum mainnet. However, the number of MATIC tokens locked up in smart contracts has increased significantly in May, which could lead to a prolonged bull rally if investors continue to stake assets on the Polygon network at this rate.
Crypto Trader Doubles Down on Short Positions for MATIC, SOL, AAVE, and More
Capo, a popular crypto trader who has been bearish on digital asset markets this year, is increasing his short position on Polygon (MATIC), an Ethereum scaling solution.
Deutsche Telekom Partners with Ethereum Layer-2 Scaling Platform Polygon for Staking and Validation Services
Telecommunications giant Deutsche Telekom has partnered with Polygon, a leading Ethereum Layer-2 scaling platform, to improve the security and efficiency of transactions and data transfer within the industry. As part of the partnership, Deutsche Telekom has become one of the 100 validators on the Polygon Proof-of-Stake network, contributing to the platform's security and decentralization. Additionally, Deutsche Telekom MMS, a subsidiary of Deutsche Telekom, will provide staking and validation services for both Polygon's PoS network and Supernet solutions. This partnership highlights Deutsche Telekom's commitment to improving the Ethereum ecosystem and marks a milestone for the Polygon network's recognition and adoption across industries, as they aim to create a scalable and sustainable infrastructure for future blockchain applications.
10 Million Reddit Accounts Are Currently Involved in NFT Ownership, and the Tokens Have a Market Capitalization of Over $38 Million
Reddit's NFTs, also known as Reddit collectibles, have been a major hit since their launch in July 2022. These tokens are unique, affordable, and securely stored on the Polygon (MATIC) blockchain platform, which has made them very popular among users.
Coinbase Wallet Introduces Gas-Free USDC Sends on Polygon
Coinbase Wallet has launched a new feature that allows users to send USDC without worrying about network fees on the Polygon network. This integration not only offers gas-free USDC sends but also ensures the security and reliability of transactions, making it an attractive option for cross-border payments.
Polygon and Altr Collaborate to Bring the Legendary Ferrari F40 as the Inaugural Luxury Car on Their Platform: Unlocking Luxury on the Blockchain
Lucidao has partnered with Polygon to integrate the newly launched Altr marketplace, which will feature the Ferrari F40 as its first car. The partnership will allow individuals to acquire luxury collectibles through blockchain technology on the fast and efficient Polygon platform. The Ferrari F40, known for its exceptional quality and rarity, was launched in 1987 as a tribute to Ferrari's 40th anniversary and is the first car to be featured on the Altr platform. Additionally, Altr allows collectors to purchase rare and exquisite collectibles in their entirety or as fractional ownership, utilizing the USD.
AsetPay to Launch Next-Gen Entry Pass Technology on Polygon Network with Immutable Identity Verification and Real-Time Monitoring
AsetPay has announced that it will soon integrate its Pure system on the Polygon network, leveraging the power of blockchain and smart contracts to provide a secure and future-proof entry pass solution. The integration will allow AsetPay to use Polygon's merchant feature on its network, ensuring scalability, low fees, and interoperability. AsetPay's Next-Gen Entry Pass Technology on Polygon offers an efficient, seamless, and user-friendly solution to access management, with benefits including immutable identity verification, real-time monitoring and analytics, and easy integration with existing infrastructure. As the adoption of cryptocurrencies continues to grow, gateways like AsetPay are becoming increasingly critical to the financial system of the future.
Polygon Announces Launch of Pluto MISFITS NFT Project
Polygon Technology, one of the largest blockchain ecosystems on Ethereum, has announced the launch of the MISFITS, the first polygon-native profile picture (PFP) under Pluto, its NFT flagship project.
