Polygon Labs Challenges SEC's Proposed Definition of 'Exchange' for DeFi Platforms
The SEC is planning to amend old legislation to include decentralized finance exchanges, but Polygon and other DeFi platforms are objecting to the broad and harmful terminology that doesn't apply to decentralized blockchains. Polygon Labs submitted a response to the SEC's proposed rulemaking, stating that the new proposal threatens the existence of permissionless blockchain networks in the US.
NFT Inspect Launches Twitter-Based NFT Tracking Tool
NFT Inspect, a premier NFT analytics platform, has launched a new Twitter-based PFP tool that allows users to track the movements of a given profile picture NFT as it travels around the social media platform. The application is available as a Chrome extension and a web client, providing information on static Ethereum, Polygon, and Solana NFTs currently circulating on Twitter.
Polygon's zkEVM Platform Experiences Significant Growth in TVL and Transaction Volume, Bucking the Trend of Declining TVL Across Most Blockchains in May 2023
Polygon's zkEVM platform has defied the trend of declining Total Value Locked (TVL) seen across most blockchains in May 2023, experiencing significant growth in both TVL and transaction volume. The platform's unique features, such as scalability, privacy, and interoperability with Ethereum, have made it attractive to DeFi projects.
Polygon (MATIC) Price Attempts Reversal, But Technical Analysis Indicates Prevailing Bearish Sentiment
In the past day, Polygon's (MATIC) price has attempted to reverse its downward trend, gaining over 4% in value. However, on a weekly chart, MATIC has experienced a decline of over 27%, breaching important support levels.
Polygon NFTs Lands on Kraken NFT Marketplace, Trade Reddit Collectible Avatars Today
Polygon NFTs now available on Kraken NFT marketplace
Kraken NFT, the secure marketplace for exploring, collecting, and trading non-fungible tokens (NFTs) with zero gas fees, has added Polygon (MATIC) to its list of supported tokens for NFT trading.
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.
