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Polygon, an Ethereum scaling solution network, has received recognition this week for flipping the Ethereum L1 blockchain network in terms of non-fungible token sales volume for the first time in 2025. The historic NFT market shake-up appears amid brutal bear season in the crypto market, which has held the Ethereum (ETH) price below $2,000 and Bitcoin (BTC) below $90,000. NFTs Weekly Sales Fall 9.37% To $93M Data compiled by cryptoslam.io, an on-chain crypto market data aggregator and multi-chain non-fungible token collection explorer, shows that the NFT market has recorded negative gains again this week. In the past seven days, the global NFT market has attracted a trading sales volume of $93 million, down 10 % from the past week. Last week, the NFT market recorded a trading sales volume of $95 million, down 2% from the previous week. Despite the negative market growth, the number of traders buying non-fungible token collections has increased this week. In the past seven ...

Staking protocol Lido is winding down operations on the layer-2 network Polygon due to limited user adoption, a strategic focus on Ethereum and evolving ecosystem dynamics. Lido Finance’s team said in a Dec. 16 blog post that the decision was made after a request by Lido DAO token holders. During an “extensive DAO forum discussion,” 99% of the community voted in favor of the proposal to discontinue Lido’s Polygon operations, the team added. Lido Faced Significant Challenges On Polygon Lido’s team said in the blog post that Lido on Polygon “faced significant challenges in achieving its intended impact.” In addition to the limited adoption and evolving ecosystem dynamics, other factors that contributed to this difficulty include “insufficient rewards” and “resource-intensive maintenance requirements.” Justification The Lido on Polygon sunset process is taking place following extensive discussions across Lido DAO for...

Bitcoin, and even some altcoins are holding steady even as the US dollar index steamrolls to a near 1-year high. Bitcoin (BTC) managed to stay above the $26,000 level even as the S&P 500 tumbled to a three-month low and the US dollar index (DXY) rose to a new year-to-date high. This is a mildly positive sign as it shows a lack of aggressive selling at lower levels. Bitcoin remains stuck inside a range and the directionless price action has kept the traders on the sidelines. Bitcoin’s daily spot exchange transactions topped 600,000 in March but dwindled down to 8,000-15,000 last week, according to new research from on-chain analytics platform CryptoQuant. Low liquidity could lead to volatile moves in either direction, hence traders should be careful and wait for confirmations rather than taking positions on every intraday breakout. Daily cryptocurrency market performance. Source: Coin360 The near-term price action remains uncertain but that has not deterred the long-term bulls from...

The tokens were part of $7.8 million in Polygon’s MATIC stolen from crypto casino Stake on Sept. 4, along with millions in other cryptos. On-chain data showed that the hacker who stole millions in digital assets from crypto casino Stake on Sept. 4 has bridged some looted MATIC tokens to Avalanche. According to transactions seen on Polygonscan, the address “0x32860a05c8c5D0580dE0D7Eab0D4b6456C397Ce2” received over 3.2 million MATIC coins from the Stake hacker in two transactions. On Sept. 6, two days after the exploit, the hacker’s address had funneled 2.8 million of Polygon’s native tokens to 10 separate wallets so far.  The moved funds are worth an estimated $1.5 million, with MATIC trading around 55 cents at press time. Blockchain security shop CertiK confirmed that some funds were subsequently sent to Avalanche via bridges , a solution allowing users to send cryptocurrencies from one blockchain to another. The hacker also bridged from Avalanche to Bitcoin, a...

Polygon Labs and Google Cloud will team up in a multi-year agreement to drive the development and adoption of the Ethereum scaling protocol’s infrastructure and developer tools. Polygon Labs and Google Cloud announced a multi-year partnership at Consensus 2023 that will see the cloud computing service provider help boost the development of the Ethereum (ETH) scaling protocol’s tools and infrastructure. Polygon’s core protocols, including Polygon PoS (proof-of-stake), Polygon zkEVM and Polygon Supernets, are set to benefit from the provision of Google Cloud’s framework and developer tools. The partnership is aimed at simplifying developer integration to build, launch and grow Web3 products and decentralized applications (DApp) on Polygon. Google Cloud’s partnership with the ecosystem is expected to advance Polygon’s zero-knowledge development. Testing of Polygon zkEVM’s zero-knowledge proofs (zk-proofs) on Google Cloud reportedly resulted in faster and cheaper transactions compared to...

After days of consolidation near the local high, Bitcoin is trying to breakout and challenge the $30,000 level. Bitcoin’s (BTC) tight consolidation near its local top suggests that traders are waiting for a catalyst to start the next trending move. The consumer price data on April 12 and the producer price index data on April 13 could give insight into the Federal Reserve’s future rate hikes and shake the traders out of their slumber. The dull price action in Bitcoin has not reduced the interest in it. According to Ahrefs search volume data, Bitcoin remains the most Googled term in the United States followed by the keywords Donald Trump and Breaking news. Daily cryptocurrency market performance. Source: Coin360 Another point worth noting is that Bitcoin’s circulating supply continues to dwindle. Citing Glassnode data, investor Anthony Pompliano pointed out that 53% of Bitcoin’s circulating supply has not moved in the past two years. If demand increases, there could be a shortage of su...

Web3 gaming developers will be able to build on a new zero-knowledge Ethereum Virtual Machine that aims to increase ownership rights for players and take on the big gaming corporations. Gaming developers are getting a new platform on which to build Web3 games, with a tie-up between Polygon Labs and Immutable set to launch a new zero-knowledge Ethereum Virtual Machine (zkEVM). The partnership sees the two Ethereum layer-2 firms create an “Immutable zkEVM” — a Polygon (MATIC)-powered zkEVM fully supported on Immutable’s Web3 game development platform. Scheduled for a March 27 mainnet beta launch, Polygon’s zkEVM enables the validation of mass amounts of transaction data by bundling them up into one transaction that’s then confirmed on the Ethereum network. The same technology will feature on Immutable’s zkEVM solution. Polygon Labs president, Ryan Wyatt, told Cointelegraph that the technology would allow game developers to focus on building a “great game” rather than needing to divert r...