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Polygon proposed building a dedicated layer 2 network for ApeCoin on the ApeCoin DAO forum on Oct. 10. According to the proposal, the new network, dubbed “ApeChain”, will leverage zero-knowledge technology to offer fast, cheap, and secure transactions for ApeCoin and its ecosystem. ApeChain will be developed and maintained by an implementation partner with expertise in web3 infrastructure and tooling products. The proposal also suggests collaborating with Polygon Labs, the innovation arm of Polygon, to access its resources and network. The proposal also includes creating a development fund of $3.35 million from the ApeCoin DAO treasury to support the growth of APE-related projects, such as experiences, entertainment, games, and consumer applications. The development fund will also be used for public goods beneficial for ApeChain, such as middleware and marketplaces. You might also like: Circle incorporates USDC on Polygon The initiative highlights the potential...

Casio is teaming up with Polygon Labs to unveil its virtual G-SHOCK watch on Polygon’s protocols, starting with an NFT community access pass series. Japanese electronics giant Casio has joined forces with Polygon Labs, a prominent Layer-2 scalability solution of the Ethereum blockchain network, to unveil virtual G-SHOCK watches utilizing Polygon’s protocols. In addition to the virtual watches, Casio is gearing up to unveil a collection of community access passes anchored on the NFT (Non-Fungible Token) technology. Starting Sep. 23, enthusiasts can claim one of the 15,000 NFT-based G-SHOCK creator passes that are up for grabs. This initiative also grants users exclusive access to a dedicated Discord channel created explicitly for this project. You might also like: Lufthansa Group taps NFTs, launches loyalty program on Polygon Casio has outlined a two-phase distribution plan for these passes. Initially, individuals registered for a CASIO ID on the official me...

Bitcoin and altcoins perked up today, but is this rally nothing more than an oversold bounce? When the markets are trending, traders should be active if they want to earn money. On the other hand, in a ranging market, it is better to wait on the sidelines with patience, or else traders may lose money due to choppy random moves in either direction. Bitcoin’s (BTC) sideways price action since the sharp fall on Aug. 17 shows that the bulls and the bears are unsure about the next directional move. Therefore, it is better to wait for the breakout to happen before waging large bets. Daily cryptocurrency market performance. Source: Coin360 In the short term, institutional traders also seem to be taking a cautious approach. A CoinShares report showed an outflow of $55 million from digital asset investment products for the week of Sept. 13. What are the important support and resistance levels that need to be crossed for a trending move to start in Bitcoin and altcoins? Let’s study the charts ...

Amidst a shifting regulatory landscape, digital banking service Revolut has announced its decision to discontinue support for Cardano’s ADA, Polygon’s MATIC, and Solana’s SOL tokens on its US platform. Revolut, the digital banking service, has announced the removal of Cardano’s ADA, Polygon’s MATIC, and Solana’s SOL tokens from its U.S. platform due to regulatory changes around crypto currency in the United States. The move comes following the decision of Revolut’s U.S. crypto services provider, Bakkt, to delist these tokens as well. Revolut communicated to customers that it would no longer be able to facilitate buy and sell orders for these tokens in response to this regulatory shift. The changes took effect immediately and will conclude with the complete cessation of custodial support for these tokens by Sept. 18. Revolut is forced to delist ADA (and a few others) because of the SEC. They must see that #Cardano is growing and are prob...

Bitcoin and most major altcoins are witnessing subdued price action, indicating a lack of buying interest from the larger players. The United States equities markets rallied sharply on June 2 even though the nonfarm payrolls in May rose 339,000, blowing past economists’ expectations of a 190,000 increase. A few analysts pointed out that the market was possibly encouraged by the slower growth rate of hourly earnings which was slightly below estimates and an uptick in the unemployment rate. The rally in the equities markets failed to act as a tailwind to the cryptocurrency markets, which remain stuck in a range. Galaxy Digital CEO Mike Novogratz said in an interview with CNBC that the lack of enthusiasm in the crypto markets was due to absence of institutional buying. Daily cryptocurrency market performance. Source: Coin360 Bitcoin’s (BTC) historical performance in June does not give a clear advantage either to the bulls or the bears. According to CoinGlass data, between 2013 and 2022, ...

Concerning news from Silvergate Bank and FTX may have influenced investors’ decision to press the sell button, but the potential for further downside could be limited. Bitcoin (BTC) is leading the cryptocurrency Markets lower and the matter is being exacerbated by Silvergate Banks' ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency companies announced that they were reducing or canceling their partnerships with Silvergate Bank.  The uncertainty regarding the future of the bank and its overall impact on the cryptocurrency sector may have caused a knee-jerk reaction. However, if the contagion does not spread, the downside may be limited. Daily cryptocurrency market performance. Source: Coin360 Another positive for the cryptocurrency markets is that the United States equities markets are attemptin...