Polygon Financial News

G4AL, a Spanish game studio, has partnered with India's Yield Guild Games (YGG) — IndiGG. The partnership will focus on launching a blockchain game named — 'Elemental Raiders'. After its recent partnership with YGG, Manel Sort and his team are focusing on expanding across continents through YGG’s sub-DAOs, offering cohort NFT Chests to gamers and guild members, and the opportunity to play G4AL’s upcoming Elemental Raiders. The game will be out on the net and available on mobile by the last quarter of the current year. However, its beta version is already live, and IndiGG users can play with the allocated NFT Chests with potential $GGT tokens up for grabs. Polygon-backed IndiGG is a subDAO of YGG aiming to create a Web3 and GameFi ecosystem flourishing in India. Sophistication, scaling and growth have been the heart of the country in terms of gaming, with over 400 million gamers, making it one of the largest markets in the world.

Polygon’s VP of Global Business Development for gaming Urvit Goel believes games that integrate nonfungible tokens (NFTs) have a natural edge on traditional games that don’t allow users to sell their in-game items.

Geopolitical worries capped the gains for the digital market as US congresswoman Nancy Pelosi visited Taiwan which infuriated China. The world's second-largest economy warned of 'targeted' military operations. Top crypto tokens were trading higher on Wednesday.

Bitcoin firm above the $23,000 mark. The crypto market was unfazed by Solana attacks, which drained wealth out of 8,000 wallets. Markets digested US House of Representatives Speaker Nancy Pelosi’s visit to Taiwan on August 2, 2022, which caused many investors to stay away from risky assets amid potential US-China tensions.

Geopolitical worries capped the gains for the digital market as US congresswoman Nancy Pelosi visited Taiwan which infuriated China. The world's second-largest economy warned of 'targeted' military operations.

Signs of economic slowdown on the back of muted manufacturing data in several countries and fresh escalation in the geopolitical worries between the US and China dented the sentiments. Trading volumes also remained light. All the top crypto tokens were trading lower on Tuesday.

Polygon (MATIC) had a promising July, gaining an impressive 83% in 30 days. The smart contract platform uses layer-2 scaling and aims to become an essential Web3 infrastructure solution. However, investors question whether the recovery is sustainable, considering lackluster deposits and active addresses data.

Bitcoin topped the $24,000 level, despite the fact that US GDP contracted more than expected. Risk appetite is roaring back but experts believe that it is too quick to jump to any conclusion. Barring the US dollar-pegged stablecoins, all other top crypto tokens were trading higher.

Powell's comments over 'no recession' also supported the sentiments. Top crypto tokens were trading sharply higher on Thursday. Ethereum and Polkadot and Polygon rallied over 13 per cent each, while Polygon and Avalanche jumped 10 per cent each.

The total market capitalization of the crypto space again slipped below the $1 trillion mark, with Bitcoin barely holding on to the $21,000 level while Ethereum dropped below the $1,500 level. Rising fears of economic slowdown continue to haunt the riskier assets. All the top crypto tokens were trading lower during early hours on Tuesday. Polygon plunged over 9 per cent, whereas Avalance and Shiba Inu tumbled 7 per cent each. Ethereum and Solana dropped 6 per cent each.

The total crypto market capitalization broke above $1 trillion on July 18 after an agonizing thirty-five-day stint below the key psychological level. Over the next seven days, Bitcoin (BTC) traded flat near $22,400 and Ether (ETH) faced a 0.5% correction to $1,560.

Barring the US dollar pegged Tether, all the top crypto tokens were trading lower on Thursday. Polygon and Solana plunged about 12 per cent each. Avalanche and Cardano tumbled 9 per cent each. The global cryptocurrency market cap was trading lower at $1.02 trillion mark, falling more than 3 per cent in the last 24 hours. However, the total cryptocurrency trading volume plunged over 5 per cent, close to $96.02 billion.

Easy come, easy go was the story on July 20 as the day started on a positive note with Bitcoin (BTC) climbing above $24,300, only to end the official trading day in the red after less than stellar Q2 earning news showed Tesla sold 75% of its Bitcoin and Minecraft reversed course by deciding to ban NFTs on its platform.

With the transition to a scalable, energy light proof-of-stake blockchain (dubbed “the Merge”) at play for Ethereum, many have cast doubts on the popular coin’s future given the magnitude and complexity of the upgrade involved. But among prominent stakeholders, one particular project remains heavily bullish on Ethereum’s future, which is non-other than layer-two scaling solution Polygon.

Popular Ethereum (ETH) Layer-2 scaling solution Polygon (MATIC) has announced zkEVM, the "world’s first zero-knowledge (ZK) scaling solution" that is "fully compatible" with Ethereum.

Bitcoin holding above the $22,000 mark. Ethereum held above $1,500 levels. Market experts, however, believe it is very early to conclude that the worst is over for the crypto markets. Barring the dollar-pegged USD Coin and Tron, all other crypto tokens were trading higher on Tuesday. Polygon zoomed more than 15 per cent, whereas Ethereum jumped 9 per cent. Avalanche gains about 8 per cent.

Aave (AAVE), an open source decentralized finance (DeFi) protocol, is teaming up with decentralized Web3 infrastructure provider Pocket Network to offer developers increased scalability and ease of use when building decentralized applications (DApps) on the Aave Protocol.

Polygon zoomed about 9 per cent, whereas Avalanche jumped 5 per cent. Solana advanced 3 per cent. Ethereum, Cardano, XRP and Dogecoin added 2 per cent each. The global cryptocurrency market cap was trading higher at the $988.57 billion mark, rising close to 2 per cent in the last 24 hours. However, the total cryptocurrency trading volume dropped more than a per cent to $63.69 billion.What's cooking in IndiaCryptocurrency exchanges and blockchain companies are trying to cobble together their own independent association after Internet and Mobile Association of India (IAMAI) dismantled Blockchain and Crypto Assets Council (BACC).

Crypto traders found cause for celebration on July 18 as the total market capitalization climbed back above the $1 trillion mark following weeks of widespread selling after Bitcoin (BTC) price swept yearly lows below $18,000.

The United States equities markets recovered from their intra-week lows last week, suggesting demand exists at lower levels. On similar lines, Bitcoin (BTC) also recovered from $18,910 last week, indicating that traders may be getting back into risky assets. 

Crypto tokens saw some profit booking as traders tempered bets that the Federal Reserve will raise interest rates by 100 basis points in an attempt to curb the rising prices. Higher interest rates would make riskier assets like cryptocurrencies and stocks less attractive as investments. However, the top crypto token — Bitcoin — continued to trade above the $20,000 mark. Barring XRP, all other top crypto tokens were trading higher on Friday but gains were capped. Ethereum, BNB, Dogecoin, Shiba Inu gained up to a per cent each.