Top Crypto News: 04/29

After making a daily high of $54,906, Bitcoin is now trading at $53,554. Meanwhile, the second-largest cryptocurrency, Ethereum, has surpassed the Platinum market cap and is trading close to $2,764.

Let’s review some interesting crypto news for today.

1 – Polygon Unveils Allocation of $100M Fund to Boost DeFi Ecosystem

Polygon (previously Matic) announced a $100 million fund allocation to support DeFi adoption. As per the tweet, this fund aims to attract new users towards decentralized products and platforms. Polygon is an Ethereum scaling project that offers a framework to create and connect blockchain networks. The team has named this fund as the DeFiforAll Fund, which will scale and develop the top Ethereum DeFi protocols with Polygon. At the time of press, Polygon is trading at $0.9369 and surged over 24% in the last 24 hours. Moreover, it has climbed from $0.01759 to a high of $0.937 since January. Notably, its scaling solutions and partnerships fueled its market cap to over $5.6 billion.

2 – Blind Boxes | BakerySwap Partnership to Empower Creators & Curators With BSC Features

Blind Boxes partnered with BakerySwap to empower creators and curators with BakerySwap features. BakerySwap is the first DeFi platform that connects AMM (Automatic Market Maker) with NFTs on Binance Smart Chain. Blind Boxes is a launchpad for NFTs and a gamified curation platform. With this partnership, Blind Boxes creators and curators can mint NFTs by utilizing the new BakerySwap portal. In addition, users can enjoy the Binance Smart Chain (BSC) low gas fees along with fast transaction speeds. Collaboratively, the team has plans to launch auctions and drops by renowned artists in the near future.

3 – Dafi Protocol | Reef Finance Partnership to Enhance Staking Model With dTokens

Dafi Protocol partnered with Reef Finance to integrate dTokens within their ecosystem. With this coalition, Reef Finance will utilize Dafi Protocol’s synthetic dTokens to design the dReef tokens. Further, these dReef tokens will operate to mitigate price/supply volatility from the Reef platform. This would help Reef Finance to utilize Dafi’s reward network for reducing hyperinflation to maintain the token’s value. Besides this, the dReef tokens would help to build feasible incentives and an economic model to reward the long-term users, which will spur the token’s utility.

4 – Swipe’s Largest Coin Burn Destroys $200 Million Worth of SXP Tokens

Swipe announced the burning of SXP tokens worth over $200 million dollars. As per the tweet, the CEO and founder of Swipe decided to burn his founder supply, which is roughly over 17.5% of the total supply. Moreover, this supply has amounted to 50 million SXP with a record of $200 million worth of SXP tokens. This has increased its price by over 35% in the last 30 days. Additionally, the team has plans to release the Swipe V2 white paper tomorrow, which has lots of new features, such as cross-chain decentralized automated market maker, Swipe Reward Token, and more.

5 – Ethereum’s Market Cap Surpassed Platinum Amidst ETH 2.0 Deposit Contract Reaching 4M Milestone

In the last bit of crypto news for today, we have the second-largest cryptocurrency, Ethereum, printing daily new highs, and its market dominance is increasing rapidly. With these daily highs, ETH has now surpassed Platinum in the topmost valuable assets list. At the time of press, ETH ranks 32nd in the most valuable asset list of Currently, its total market cap is around $320 billion, which is more than PayPal and Platinum. Meanwhile, the Ethereum 2.0 deposit contract reached a new milestone with over 4 million ETH in holding. Moreover, this amount is worth roughly over $10.5 billion. Notably, the team has recently launched the Berlin Hard Fork with a forthcoming London Hard Fork coming this year. In addition, Coinbase also launched ETH 2.0 staking on its platform. These updates fueled its staking and price to a new all-time high territory.

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