Cryptocurrency News Today TheBitTimes.com

Top US-based crypto exchange Coinbase is adding support for the Polygon’s (MATIC) highly anticipated rebrand to the Polygon Ecosystem Token (POL). In a new announcement, Coinbase Assets says it’s adding POL to its suite of products with an experimental label, meaning it could display high price volatility or relatively low trading volume. Last month, Coinbase announced that it added the token to its listing roadmap, which was created in 2022 for transparency and to stifle the front-running of digital assets. MATIC’s rebranding to POL was first proposed last July as a way to boost the network’s usage and growth. About a month later, Sandeep Nailwal, the founder of Polygon Labs, said that the transition was part of a shift toward greater interoperability. As stated by Nailwal at the time, “POL delivers the benefits of multi-chain staking without the added risks of restaking. With the Polygon 2.0 proposal, the Polygon Ecosystem will ex...

Polygon PoS implements Napoli hard fork, integrating Dencun upgrades and RIP-7212. RIP-7212 introduces precompile support for secp256r1 curve, enhancing interoperability. The collaborative effort among Layer 2 projects signals a collective push for Ethereum scaling. Polygon PoS side chain has propelled Ethereum’s scalability efforts with the successful execution of the Napoli hard fork, marking a significant milestone in block chain technology. This transformative upgrade introduces groundbreaking Features from Ethereum’s Dencun upgrade, alongside the activation of RIP-7212, signalling a new era of interoperability and efficiency. Napoli Hard Fork enhancements Polygon’s implementation of the Napoli hard fork brings forth three pivotal upgrades derived from Ethereum’s Dencun upgrade. A standout feature of the Napoli hard fork is the activation of RIP-7212 on the Polygon PoS sidechain, making it the pioneer network to support this...

Giddy, a self -custody smart wallet with advanced private key technology, has integrated Ethereum, the pioneer smart contract platform. The aim is to enhance the wallet functionalities and accessibility across multiple networks, enhancing user experience. Giddy expands, supports Ethereum The Giddy smart wallet aims to provide its users with an easy retail experience, allowing them to access decentralized finance (defi) earning opportunities. The project initially launched on Polygon. In a press release shared exclusively with crypto.news, this expansion will set the course for future expansions into EVM-compatible laye-1 and layer-2 platforms. Specifically, the wallet provider aims to integrate Arbitrum, Base, BNB Chain, and many more, in the future.  You might also like: PancakeSwap launches on Ethereum layer-2 solution, Base There are also solid plans to list Bitcoin. With this, users can buy multiple coins using fiat straight from the Giddy wallet . At the same ...

BTC, ETH, MATIC, HBAR and EOS are likely to pick up momentum if they cross above their respective overhead resistance levels. The market witnessed a major banking crisis in March as Silicon Valley Bank and Signature Bank failed and Silvergate Bank entered liquidation as the result of dire financial distress. In Europe, the government brokered a forced takeover of Credit Suisse by UBS. Still, the United States equities markets and the European stock markets closed the month on a positive note. The cryptocurrency market was also shaken by volatility, but Bitcoin (BTC) gained about 23% in March. Going forward, the picture looks encouraging for Bitcoin bulls in April and data from Coinglass suggests that the month has largely favored the buyers. Crypto market data daily view. Source: Coin360 Although altcoins reacted positively to Bitcoin’s rise, the rally has not been equal across the board. This suggests that market participants have been selective in their purchases. As a result, trad...

Strong inflation data has pulled Bitcoin and select altcoins below their immediate support levels, signaling a few days of corrective action. Bitcoin (BTC) is struggling to stay above $23,000 as the weekend approaches. The selling pressure increased after the personal consumption expenditures excluding food and energy rose 0.6% in January and 4.7% over the year, above market expectations of an increase of 0.5% and 4.4% respectively.  This could trigger fears that the United States Federal Reserve may have to continue its rate hikes to bring inflation under control. Expectations of a rate hike could strengthen the U.S. dollar index further, which is already near a seven-week high, and that may put pressure on the cryptocurrency markets in the near term. Daily cryptocurrency market performance. Source: Coin360 A drop in the cryptocurrency Markets may start a discussion that the rally in January may have been a bull trap. However, the price action in Bitcoin and several altcoins show tha...

The purported sales are the latest measures the embattled firm has taken following moves in recent months to raise capital and preserve liquidity. Cryptocurrency conglomerate Digital Currency Group (DCG) has reportedly begun to sell its holdings in crypto funds managed by its subsidiary Grayscale Investments as it looks to raise capital and preserve liquidity. According to a Feb. 7 Financial Times report citing seen United States securities filings, DCG sold around a quarter of its shares in Grayscale’s Ether (ETH)-based fund for around $8 per share, despite each share holding a claim to nearly double that amount in ETH. The market price per share (gray) vs holdings per share (green) of the Grayscale Ethereum Trust (ETHE). Source: Grayscale It’s also said to have sold down small share parcels in Grayscale’s Litecoin (LTC), Bitcoin Cash (BCH) and Ethereum Classic (ETC)-based trusts in addition to its Digital Large Cap Fund — which combines Bitcoin (BTC), Ether, Polygon (MATIC), Solan...

According to data from crypto staking data provider Staking Rewards, Polygon (MATIC) is the top staking asset in the first week of 2023. The firm noted that the network hit an all-time high for its staking balance of $3.55 billion. MATCI’s weekly inflow increased to $127.99 million, accounting for a 4.60% rise. State of Staking | 09.01.2023 🧵👇 pic.twitter.com/2CPuaLGOd9 — Staking Rewards (@StakingRewards) January 9, 2023 Polygon (MATIC) is closely followed by Ethereum (ETH), which had an inflow of $122.01 million, a 0.57% increase. The largest Altcoin may be in for a positive scenario as the imminent Shanghai upgrade dominates market attention. The upgrade which is planned for March 2023, will greatly lower the risk associated with staking ETH. Furthermore, it will give liquidity staking platforms a chance to develop. Hence, as the anticipation grows, some of these protocols’ governance tokens are rallying over the past week. ...