Crypto Market Highlights December 10, 2021

Polygon (MATIC) wins $ 400 million staking on Ethereum scaling, Pepsi announces NFT and other crypto market highlights compiled over the past 24 hours.

Crypto Market Highlights: Investment News

Ethereum (ETH) Scaling Platform Polygon (MATIC) has announced a $ 400 million deal with startup Mir to further scale Ethereum and “bring millions of users to the web”. The structure of the acquisition is not fixed. Proof ZK is a scaling solution as it allows verification of multiple Ethereum transactions with a single small piece of evidence. “But so far, generating ZK proofs has been slow and inefficient. I solved this problem by generating recursive evidence faster than ever, ”said Polygon.

Paulo Passoni, CEO of SoftBank’s Latin America Fund, said about 10% of the company’s $ 5 billion fund is invested in crypto, a strategy he favors, even if some of the tokens are overvalued, according to Bloomberg. He has said that the crypto market “is currently the most relevant in the world”.

Programmable Liquidity Mining Protocol izumi announced that it has completed a $ 3.5 million Series A funding round. They said the funds will support the launch of izumi native tokens (iZi), which will take place on December 20th, and followed by the launch of the izumi platform “LiquidBox” on December 21st.

Crypto derivatives firm Paradigm has closed a $ 35 million Series A funding round and valued the company at $ 400 million. It is jointly managed by Jump Capital and Alameda Ventures, with over 25 investors participating. According to the press release, the company works with more than 600 institutions while the transaction volume on the network increased by 1,300% year-on-year to $ 10 million in total monthly trading volume.

Crypto Market Highlights: NFT’s News

Global soft drink giant Pepsi has announced the first series of non-fungible tokens (NFTs) called the Pepsi Mic Drop Origin Collection. Pepsi creates 1,893 (to celebrate the year Pepsi was “born”) the only generic NFT to work on the Ethereum blockchain on Friday December 10th, free to users (no gas fees charged).

The Ross Ulbricht Genesis Collection NFT auction raised 1,446 ETH ($ 6.27 million), while the auction winner was FreeRossDAO, a group that says they are supporters of Ross Ulbricht and home reform. All proceeds from the auction will not belong to Ulbricht or his family, but to a separate legitimate organization that will pass the proceeds on to the Art4Giving fund as well as to the project, free Ulbricht with new legal proceedings, raise awareness and more.

Crypto Market Highlights: News on New Products and Services

The social media platform Reddit has created a waiting list for the upcoming expansion of its Ethereum-based token reward program “Community Points” as well as a special website. Redditors can earn Community Points by contributing to a subreddit by, for example, creating and uploading valuable content or volunteering to moderate the community while selling, swapping or trading points is against the website’s rules.

The crowdfunding platform Kickstarter announces the founding of a new company whose website will eventually be migrated to a blockchain-based system on Celo (CELO).

Ava Labs, the developer of Avalanche (AVAX), has been selected to participate in Mastercard Start Path Crypto, a startup program exploring blockchain technology. Ava Labs will connect with Mastercard’s global ecosystem of digital partners and players to expand and accelerate blockchain technology innovation.

Binance Charity, the blockchain-powered donation platform, has partnered with Code To Inspire to launch a three-month pilot project. The aim of the program is to provide computer training to finance and support 100 young women in Afghanistan who lost their jobs as a result of the Taliban takeover. Binance Charity will open a trusted wallet for every student, through which Bio Stablecoin USD (BUSD) will be transferred directly. Students can exchange BUSD for local currency at local currency exchange facilities.

Crypto Market Highlights: Stock Market News

According to Bybit, the user base grew 77% in the third quarter of this year compared to the second quarter, reaching around 4.8 million users worldwide. The platform also said it recorded over $ 1.7 million in crypto transactions in the third quarter, compared to $ 1 million in the first quarter of this year.

Crypto Market Highlights: Career News

Local exchange SushiSwap (SUSHI) Chief Technology Officer Joseph Delong announced that he is leaving the project “with immediate effect”. He stated that the current problems facing Protocol “are unlikely to result in an acceptable solution, and warned the community to beware of self-appointed leaders from the current core group.

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