Mooners and Shakers: Polygon’s MATIC pumps on Disney news; Ethereum, Bitcoin and DeFi coins climb
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Mooners and Shakers is sponsored by Dacxi, the world’s first purpose-built Crypto Wealth platform.
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…
• 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…
We were the only blockchain selected.
It speaks volumes to the work being done here, and where we’re going as a company.
— Ryan Wyatt (@Fwiz) July 13, 2022
… 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.
— Bitcoin Magazine (@BitcoinMagazine) July 14, 2022
— steven.nelkovski ⚡️ (@stevennelkovski) July 3, 2022
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.
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…
In all the craziness remember this:
The merge is coming
— RYAN SΞAN ADAMS – rsa.eth 🦇🔊 (@RyanSAdams) July 13, 2022
The Ethereum Merge is one of the most powerful catalysts in crypto history, and it is quickly approaching
As we reach the endgame for ETH under the proof of work regime, let's address 10 important characteristics of post-Merge, proof of stake ETH:
— VivekVentures.eth 🦇🔊🐼 (@VivekVentures) July 10, 2022
Meanwhile, some encouraging thoughts here on the no.1 OG crypto asset (that’d be Bitcoin) from Twitter-popular analyst Rekt Capital…
#BTC has experienced most of its Downtrend Acceleration phase
— Rekt Capital (@rektcapital) July 14, 2022
Penny-pinching to catch the #BTC bottom may seem worth it in the short-term
But in the long-run, this can be a psychological reflex that could cheat you out of a future profitable position, if $BTC fails to drop more from here
Dollar-cost-averaging solves this dilemna#Bitcoin
— Rekt Capital (@rektcapital) July 13, 2022
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.)
• 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.
1/ Calling all GHOsts 👻
We have created an ARC for a new decentralized, collateral-backed stablecoin, native to the Aave ecosystem, known as GHO.
Read more below and discuss your thoughts for the snapshot (coming soon)!👇https://t.co/P7tHl9LbBe
— Aave (@AaveAave) July 7, 2022
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.
• 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%
A selection of randomness and pertinence that stuck with us on our daily journey through the Crypto Twitterverse…
FED'S WALLER: 75 BASIS POINTS SHOULD ABSOLUTELY HAPPEN AFTER YESTERDAY.
— Breaking Market News ⚡️ (@financialjuice) July 14, 2022
— naiive (@naiivememe) July 14, 2022
Celsius bankrupt, Voyager bankrupt, 3AC bankrupt, other companies having hard times.
Yet, Kevin O'Leary says big parties still need to fall.
I think we're quite far down already.
— Michaël van de Poppe (@CryptoMichNL) July 14, 2022
— Justin Bennett (@JustinBennettFX) July 14, 2022