Bitcoin (BTC) could not overcome the barrier at $25,000 on Aug. 11 even though it had two catalysts in the form of a "favorable" Consumer Price Index print and news that BlackRock — the world's largest asset manager, overseeing over $10 trillion in total assets — had launched a spot Bitcoin investment product. In comparison, Ether (ETH) has managed to hold on to its recent gains on news that the Goerli testnet had successfully activated proof-of-stake, clearing the path for Ethereum’s mainnet transition planned for Sept. 15 or Sept. 16. Data from Santiment shows that Ether whale transactions have increased …

The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. The Polygon team shared the figures via an Aug. 10 blog post, which was sourced from partnered Web3 development platform Alchemy, noting that the figure represents the cumulative number of applications ever launched on both the testnet and mainnet. It also noted that the number of monthly active teams — a measure of developer activity on a blockchain — reached 11,800 at the end of July, up a whopping 47.5% from March. The project team also highlighted a breakdown …

The Aug. 10 Consumer Price Index (CPI) report shows year-over-year inflation rose 8.5% in July and while this figure is below economists’ expectations of 8.7%, it is still high. Although inflation remains much higher than the Federal Reserve's 2% target, the marginal slowdown raises hopes that the rate hikes by the Federal Reserve have started to work. That has reduced the probability of a 75 basis point rate hike in the September meeting from 68% on Aug. 9 to 37.5% according to CME group data. Risky assets, including the cryptocurrency markets, responded positively to the CPI print. Compared to Bitcoin …

The United States equities markets and the cryptocurrency markets have started the week on a strong note, indicating that traders are not nervous about buying ahead of the important Consumer Price Index (CPI) data for July which will be released on Aug. 10. Another positive sign is that the recent recovery in Bitcoin (BTC) has not tempted investors to exit their positions in fear of another leg down. Glassnode data shows that the percentage of supply that has stayed dormant for three or more years rose to a new all-time high of 38.426% on Aug. 8. BlackRock CEO Larry Fink …

Crypto investors found cause for celebration on July 14 as the market experienced a positive trading session just one day after the Consumer Price Index (CPI) posted a June print of 9.1%, its highest level since 1981. The move higher in the market wasn’t entirely unexpected for seasoned traders who have become familiar with a one to two-day bounce in asset prices following the most recent CPI prints. These traders also know there’s nothing to get too excited about, as the bounces have typically been followed by more downside once people realize that the high inflation print is a negative …

Unlike bull markets where traders can basically throw a dart at a list of coins to pick one that will go up, bear markets require much more effort to find projects that could perform well over the long-run. One project that has continued to show signs of mainstream adoption despite the onset of a crypto winter is Polygon (MATIC), a layer-2 scaling solution for the Ethereum (ETH) network that is looking to build a sustainable Web3 infrastructure on the top smart contract platform. Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.316 on June …

Polygon (MATIC) reached lofty price levels this July 14, a day after getting selected for the Walt Disney Company's benchmark business development program. MATIC's price surged 22.5% to $0.657 a token, its highest level in a month. In doing so, the token also climbed above its 50-day exponential moving average (50-day EMA; the red wave), a curvy resistance level that had been capping MATIC's upside attempts since January 2022. Polygon enters the Disney World MATIC's move upside appeared synchronous with similar intraday recovery actions witnessed elsewhere in the crypto market. Nonetheless, Polygon fared better than most of its top-ranking rivals, …

Layer-2 scaling platform Polygon has been selected to partake in Disney’s 2022 Accelerator Program to build on Polygon’s Web3 technology, which will commence this week. The Ethereum scaling platform is one of six projects to be accepted into the Accelerator Program, which is focused this year on augmented reality (AR), nonfungible tokens (NFTs) and artificial intelligence (AI), according to a statement from The Walt Disney Company on Wednesda. Polygon CEO Ryan Watt noted on Wednesday that Polygon was “the only blockchain selected” to Disney’s prestigious Accelerator program. The hits keep on comin’!@0xPolygon has been invited to @Disney’s prestigious Accelerator program. …

The total crypto market capitalization has fluctuated in a 17% range in the $840 billion to $980 billion zone for the past 28 days. The price movement is relatively tight considering the extreme uncertainties surrounding the recent market sell-off catalysts and the controversy surrounding Three Arrows Capital. From July 4 to 11, Bitcoin (BTC) gained a modest 1.8% while Ether (ETH) price stood flat. More importantly, the total crypto market is down 50% in just three months, which means traders are giving higher odds of the descending triangle formation breaking below its $840 billion support. #Bitcoin Bottom scenario : Since …

More than 48 different crypto projects formerly based on the failed Terra ecosystem have found a resurgence by migrating over to Polygon. Polygon Studios CEO Ryan Wyatt expressed delight at his network’s ability to onboard many projects to the ecosystem in a Saturday tweet. He hinted that Polygon’s multimillion-dollar Terra Developer Fund has been effective in attracting the talent that was unexpectedly flung into limbo when Terra collapsed in May. UPDATE: Terra projects have begun migration. Over 48 projects and counting… including @OnePlanet_NFT, an exclusive @0xPolygon marketplace, and @DerbyStars_HQ! It was so awesome to help and welcome all these wonderful …

Ether (ETH) price is up 16% since July 1 and has outperformed Bitcoin (BTC) in the last seven days. The move could be partially driven by investors clinging to their hopes that the Ethereum network transition to proof-of-stake (PoS) consen will be a bullish catalyst. The next steps for this smart contract involve the Merge, which was previously known as Eth2. The final trial on the Goerli test network is expected in July before the Ethereum mainnet gets the green light for its upgrade. Since Terra’s ecosystem collapsed in mid-May, Ethereum’s total value locked (TVL) has increased and the flight-to-quality …

Content aggregation, ranking and discussion website Reddit announced a new blockchain-backed avatar system on Thursday. Though no official date was revealed, the company suggested that the avatars will be available to the general public in the next few weeks. For now, Reddit is providing first-look early access to a limited number of people who join the r/CollectibleAvatars community. Collectible Avatars are a set of limited-edition artwork created by independent artists who are also users of the Reddit website. The new avatars can be purchased with local currencies. However, the announcement stated the artwork is stored on the Polygon blockchain. In …