Polygon
FTX got court approval to sell its crypto assets with a weekly selling limit.
Bitcoin is at the pivotal 50-day SMA support, and a drop below this level could result in accelerated selling of BTC and altcoins.
The National Unity Government (NUG) bank is set to run on Polygon and do currency swaps via Uniswap v3 pools and USDT stablecoins.
Developers have proposed an “Ecosystem Council” to push smart contract upgrades, as well as changes to how community-based funding works.
Ondo’s OUSG token, one of the largest on-chain tokenized Treasury products, has accrued $134 million of assets under management on Ethereum.
If approved by the community, POL will work as a multipurpose token that can be used to validate multiple Polygon-based networks.
Separate “data availability” layers could reduce congestion on the Ethereum network by making it easier for ancillary “rollup” networks to verify that transactional details exist and are available to download if needed — without actually downloading them. The concept might offer an alternative to Ethereum’s own proposed solution, seen as years away.
Open interest for MATIC trading pairs has risen from $109 million to $160 million in the past 24 hours.
The management changes come as Polygon, which runs two of the most closely watched networks for scaling Ethereum transactions, is in the midst of a rebrand to the next chapter of its corporate development, known as "Polygon 2.0."
Court documents from last November give a rough picture of the lender’s altcoin holdings.