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So you’d think news of the worst US inflation in 40 years might’ve “rekt” the crypto market further. Well, not yet it hasn’t. In fact, some coins, including Polygon’s MATIC, have been surging.

And more generally speaking, at the time of writing the crypto market is up compared with this time yesterday when the market still had a quivering bottom lip about the 9.1% CPI US inflation figure.

We’ll take a gander at today’s price action in a sec, but first a quick look at a few crypto news items…

 

News: Polygon pumps; NFT growth outlook; Yankees team with NYDIG

• Polygon, the layer 2 Ethereum scaling solution, has has been selected for Disney’s 2022 Accelerator Program. And that’s apparently because Disney wants to help build out the protocol’s Web3 development.

Only six projects are accepted into the program, which this year is focusing on augmented reality (AR), nonfungible tokens (NFTs) and artificial intelligence (AI), according to a statement from The Walt Disney Company.

Polygon is the only blockchain project among the six, and its CEO Ryan Watt is excited…

https://twitter.com/Fwiz/status/1547254135367405568?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1547254135367405568%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fpolygon-selected-to-participate-in-disney-s-2022-accelerator-program

… as are investors in Polygon’s native token MATIC, which has currently surged as much as 22.4% over the past 24 hours, possibly to do with this news.

 

• The NFT market‘s overall value is predicted to grow to about US$230 billion by the year 2030, according to Cointelegraph, which referenced a comprehensive report conducted by global research and consulting firm Verified Market Research. VMR last valued the sector at about US$11.3 billion in a 2021 202-page report.

 

• The New York Yankees baseball club is partnering with NYDIG, a leading Bitcoin-focused company, in a multi-year deal. It will make NYDIG the Yankees’ official “Bitcoin payroll platform”, according to a statement, and will offer the club’s employees access to NYDIG’s Bitcoin Savings Plan.

Will the Yankees end up going the way of the Perth Heat’s Bitcoin Standard business model? Stranger things have happened.

 

 

Top 10 overview

With the overall crypto market cap at US$950 billion and up 4.7% since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.

At least one prominent chart gazer has been promoting bearish breakdown possibilities for Ethereum (ETH)… while others have spotted more positive signs in the technical patterns.

Fact is, the top altcoin is leading the daily charge in the crypto majors, with a healthy 7.4% gain (at time of publishing). Maybe positive sentiment around the protocol’s developing PoS Merge upgrade is building momentum…

Meanwhile, some encouraging thoughts here on the no.1 OG crypto asset (that’d be Bitcoin) from Twitter-popular analyst Rekt Capital…

 

Uppers and downers: 11–100

Sweeping a market-cap range of about US$7.4 billion to about US$393 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)

DAILY PUMPERS

• Polygon (MATIC), (market cap: US$5.4 billion) +22%

• Synthetix Network (SNX), (mc: US$623 million) +18%

• Uniswap (UNI), (mc: US$2.98 billion) +18%

• Elrond (EGLD), (mc: US$1.28 billion) +15%

• Arweave (AR), (mc: US$666 million) +15%

• Quant (QNT), (mc: US$1.25 billion) +14%

• Aave (AAVE), (mc: US$1.15 billion) +14%

• Curve DAO (CRV), (mc: US$424 million) +12%

 

As mentioned further above, Polygon’s MATIC is on a tear. There might be various other reasons for that – it’s been having a good run lately (+56% over the past 30 days), but today’s news revolves around Disney.

Meanwhile, old-school, blue-chip DeFi projects are having a good day, too. Tokens such as Synthetix, Uniswap, Aave, Curve DAO, and Convex Finance, too, are all in the double-digit green.

Aave caught the DeFi eye last week after it made a governance proposal for the launch of GHO, which will become the platform’s own decentralised stablecoin if approved.

David Angliss from Apollo Capital mentioned this to us enthusiastically earlier this week, actually, so keep an eye out for a bit more on Aave and GHO soon in our Apollo’s Moonshots column.

 

DAILY SLUMPERS 

• Lido DAO (LDO), (market cap: US$417 million) -6%

• PAX Gold (PAXG), (mc: US$586 million) -1%

• Chain (XCN), (mc: US$2 billion) -0.5%

 

Around the blocks

A selection of randomness and pertinence that stuck with us on our daily journey through the Crypto Twitterverse…

 

 

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