Polygon Lists On Nexo, MATIC’s Price Soars To New Heights

Nexo finance has announced that it has listed Polygon. Going forward, investors will be able to earn about 20 percent in APR on their MATICs, which is part of Nexo’s campaign.

Polygon will now offer all its investors and holders better returns on their DeFi. Nexo now has over 150 markets, allowing users to swap, borrow and buy against the MATIC.

The 20 percent interest will be distributed daily. This has seen activity on the Polygon framework, driven by multi-chain network, rise in the past few days. The Nexo and Polygon team are engaged in talks on various initiatives.

Polygon stated it would help grow Nexo’s offering vi NFT so that its DeFi framework can have the chance to give users metaverse products.

Any user who purchases a MATIC on the platform will have the chance grow their coins by 20 percent until the promotion ends on the 3rd of January, 2022.

Polygon is currently also engaging with enterprise projects seeking sovereignty to own their framework as they no longer want to operate under Ethereum’s security.

Analyst have looked at MATIC’s trend and are forecasting there might be a reversal. MATIC’s price might breach psychological resistance in the next few days.

AVAX Reaches All-time High After AVA, Deloitte Collaboration


NEW: AVAX Deloitte Partnership

AVAX’s price has risen, and now trades at $104.21, an increase of 85 percent in under a month. As a result, the token’s market cap has reached $23 bn, and has now secured a seat at the table as one of Ethereum’s key competitors.

The token has experience significant gains in the last few months as has been the case with other first layer markets, Stack fund’s COO, Mathew Dibb said. He added that they expect the token will experience further growth in the coming months provided demand remains high.

Emin Gun Sirer, Avalanche CEO and founder, said last Tuesday the firm would be working with the accounting firm Deloitte to establish a reliable relief platform using their blockchain.

Avalanche also announced about $600m worth of initiatives to encourage growth on the platform. Last September, Avalanche’s Foundation said it would set aside $230m to jump-start the network’s liquidity on its DeFi ecosystem.

Early last November, Avalanche’s investors and developers put together a $200m blizzard fund.

Coinbase Returns Not on The Money

The price of cryptocurrencies declined last Wednesday as most investors took a back seat to reflect on relative weak returns on Coinbase. The firm, the second largest exchange globally, made a total of $1.2bn in revenue in quarter two.

There was a shortfall of $200m from what market analysts had predicted. Coinbase also lost customers in the quarter as unit prices of cryptocurrencies declined. Firms that trade in cryptocurrencies such as Square and Robinhood also noted dismal returns.

Bitcoin dropped to just under $66820 previously the cryptos all time high. BTC and USD established a retest and break pattern, which is bullish according to market analysts. The two have, in recent past, risen well beyond their 25- and 50-day averages.

Like Bitcoin and USD, Ethereum and USD declined as well last Wednesday. They are presently worth $4745, well below $4830, their previous all-time high.

MarTech Blockchain Plans Polygon Rollout

MarTech Blockchain Firm Ojamu Plans Polygon Mainnet Rollout

Blockchain firm Ojamu has announced plans to roll out Polygon Mainnet in conjunction with Polygon, a decentralized platform for linking Ethereum-based blockchain systems. Ojamu is AI driven, and is already working with Polygon to develop a testnet as the later works towards empowering communities to trade in value across the globe without the need for gatekeepers and middlemen.

Ojamu also plans to roll out a bridge system as well as plans for an ERC-20 token in the next few days to enable and enhance usage of Polygon Mainnet.

The team at Ojamu says they have advanced integration with Polygon POS as a way of capitalizing on Polygon’s Ethereum solutions. The POS is EVM-compatible with validators and checkpoints. Its development will improve further user experience under Ojamu’s ecosystem by eliminating congestion issues. Ojamu noted they will provide more details in the coming days.

Chainlink And AP Partner Up

Chainlink And AP Partner Up, Link Cost Readies For A 50 Percent Advance

Chainlink has had a tough time after a crash in its price on the 19th of May and has been down since. But LINK is coming out of this mess and looking to cause an upswing.

Recently, Associated press announced they would leverage Chainlink blockchain. They will store their most critical information in Chainlink’s blockchain. Based on their most recent official statement, their developers will be tasked with creating applications to be used to access the data through a Chainlink node.

Users will be able to use the data to customize on-chain systems, games or to automate trading activities. AP said that they believe blockchain is critical in our everyday lives.

On the same note, the Billionaire Bunny Club is currently using the Variable Random Function, another one of Chainlink’s features, to airdrop random NFTs with the help of a random digit generator. Consequently, the entire process will become somewhat fraud-proof, transparent and exciting to users.

In the meantime, LINK’s price is preparing for a surge. Its price has been below 50 of Fibonacci retracement level of $33.2 for the last 5 months, but is now working to rise above this benchmark. Recently, Chainlink zoomed past the supply zone, between $27.01 and $29.80, indicating a change in the market dynamics.

Provided LINK remains well above the $29.80 mark, it will always be bullish. However, a close well above $33.2 will be a confirmation of its uptrend, which may kickstart a shift towards a 70.5 percent Fibonacci retracement at about $41.35.

 

Shiba Inu Registers A Fresh All-Time High

Shiba Inu Registers A Fresh All-Time High, Becomes More Valuable That Richest Person In Africa

Meme coin Shiba Inu, a Dogecoin spinoff, managed a new high, $0.00003995, barely a few a day ago, after a 41 percent surge in under 2 days.

This now make the cryptocurrency the 13th most sought after token with a market capitalization of about $15.2 billion. Forbes says it is now richer than the wealthiest person in Africa, Aliko Dangote, whose net worth is around $13.6 billion.

This surge is attributed to the current bullish market trend that began nearly a fortnight ago, which buoyed the token’s value by more than 26 percent. From then on, Shiba Inu has had a week-long hold at about $0.00002796.

The token’s present standing positions it as the 3rd most valuable cryptocurrency, right after Dogecoin. But it may be a while before Shiba Inu is able to surpass Dogecoin whose market cap is at $32.6billion.

Shiba Inu has a huge circulating supply, about 395 trillion. It jumped 40 percent after Tesla’s Elon Musk posted a tweet about Shiba’s puppy, Floki.

BTC Hits New All Time High

Bitcoin Hits Highest Weekly Close, October Margins Surpass 40 Percent Mark

Cryptocurrency bitcoin hit its highest weekly close yet, at $61500, yesterday. Over the month of October, estimates show that the firm made at least 40 percent in profits after September’s 7 percent loss.

Bitcoin soared well above the $62000 threshold last Monday, well ahead of its much-awaited U.S Bitcoin futures exchange fund to be listed on the New York Stock Exchange. Market analysist believe that Bitcoin might just be the tool the cryptocurrency sector needs to onboard the next lot of investors.

Bitcoin seems to have a strong presence in the market considering that 20 other altcoins are having a difficult time gaining. Only three, Binance, meme and Shiba coins have managed about 4 percent gains. Polygon, Polkadot and Binance have managed to rally approximately 20 percent against the dollar in the past week.

There is mounting speculation relating to an impeding sell-off post BTC EFT approval, but that hasn’t done much to change BTC’s market value which currently stands at $60000. Galaxy Digital, Valkyrie, ARK Invest are just a few of the entities expected to roll out Bitcoin EFTs.  Analysts say Bitcoin’s momentum will continue for the rest of October.

Polkadot Unveils a  $770M Development Fund

Polkadot recently revealed that it is working on developing itself further, this is according to its founder Gavin Wood, who also announced a $777 million fund to support the firm’s growth. This announcement came ahead of the firm planned parachain auctions via twitter.

This means that the firm may fund the development using approximately 19 million DOT, which converts to about $777 million that is currently in its cash reserves. He noted that money will be disbursed through community governance initiatives.

Wood also hinted at a number of areas that they are looking to focus on. The project will support part of the community’s goals including building, educating and improving Polkadot’s ecosystem and its various other beliefs.

Although the project said it would fund this initiative using the cash in its reserves, this is subject to council approval, which currently sits 13 members. The outcome of an upcoming vote will determine how the project will spend the resource.

This announcement came way ahead of an upcoming parachain auction, and indication that the key target here is development of the network’s Parachain ecosystem.

Parachain is Polkadot’s fragmented side-chain. It hosts decentralized protocols and processes, facilitating highly specialized computations and communication with its POS.

The upcoming auction would see a number of projects come up on Polkadot to fill the 100 slots available.

Following this announcement, the value of the DOT went up. The market responded well to the project’s capacity to support parachains going forward.

Cardano dAppStore for DeFi Applications

Cardano Plans to Launch dAppStore for Certified DeFi Applications

Cardano’s development firm, Input Output (IOHK), made an announcement regarding the forthcoming store designed for decentralized apps on its network.

The platform, dubbed Plutus dAppStore, will give developers an opportunity to upload their Cardano applications. This will, in turn, make it a lot easier for the community to know about these apps.

IOHK announced this news in a Wednesday blog post. Cardano’s head of product and smart contracts, Shruti Appiah, said the new platform will help to solve two key issues.

First is the lack of a formal discovery mechanism for dApps operating on the network. The second challenge is the lack of a centalized approach for all dApps that are present in a given ecosystem for end-users.

Once the Plutus dAppStore is launched, it will permit Cardano users to analyze the whole ecosystem of dApps operating on the protocol through one single storefront.

Cardano’s highly anticipated Alonzo hardfork, which introduced smart contract capability to the blockchain, was launched earlier this month, but not without a hitch.

According to Long Nguyen, founder of Minswap, the main issue resulted from the well known concurrency. What this means is that numerous different agents are able to connect with an identical smart contract at the exact same time.

Luckily, developers are working on projects expected to solve this challenge. Meanwhile, IOHK intends to display a preview of the platform’s (Plutus dAppStore) prototype in the upcoming Cardano Summit. This event is scheduled to take place on the 25th and 26th this month.

Important to note though is that Cardano has not given a specific date for when it plans to launch Plutus dAppStore.

As such, it’s not clear just how fully fledged DeFi applications will flock to the Plutus dAppStore platform.

Coinbase Targets Music Events

Coinbase Places High Stakes on Music Events, Funds The Governors Ball and Two Impending EDC Festivals

Coinbase, the renowned cryptocurrency, is gaining a lot of traction in the music festival sponsorship space.

Just recently, the company entered into an agreement, where it pledged to sponsor three grand events taking place this fall.

The first occasion is The Governors Ball happening in New York this upcoming weekend. The other two are The Electric Daisy Carnival festivals being held in Las Vegas in October, and in Orlando in November.

Wavemaker, which is ranked the second biggest media agency network globally, brokered these deals on behalf of Coinbase.

These are the very first grand events that Coinbase has ever sponsored exclusively in the crypto industry.

In all three festivals, the crypto intends to inaugurate an on-site non-fungible token (NFT) gallery.

The galleries will be held primarily to mark the 10-year run that each of these festivals has had. As a result, the galleries will be showcasing highly collectible unique NFTs which will be a vivid representation of memorable moments from previous years.

The NFTs will be up for sale the entire weekend; for interested attendees to buy.

Furthermore, live moments from the festivals happening this year will be displayed in real-time and made accessible for fans to buy.

Coinbase was asked about its intentions in sponsoring the said festivals. In response, Maggie Jones, Wavemaker’s associate director, said that they wanted to get people thrilled about the crypto world.

In particular, they aim to persuade more people to download the Coinbase app and create accounts with the crypto.

Not many crypto firms have tapped into the potential of the music festival space. By sponsoring these events, it’s evident that Coinbase is also trying to establish its position in this niche.