Daily Flash | Disney Chose Polygon to Develop AR, NFT and AI Experiences, Crypto Market Unaffected By CPI Data

2022-07-14, 01:24

Today's Headline - Polygon Joins Disney’s ‘Accelerator Program’ to Develop AR, NFT and AI Experiences

Polygon (MATIC) is one of six companies selected to participate in Disney’s 2022 Accelerator program, a business and development program designed to spur the growth of innovative companies around the world, according to a statement made by Disney. It is also “the only blockchain chosen” for the program according to a tweet posted earlier today.

Formerly known as Matic Network and rebranded in 2021, Polygon is a scaling and interoperability framework for building Ethereum-compatible blockchains that seek to address some of Ethereum's significant limitations, such as limited throughput and poor user experience.

The accelerator program, which begins this week, is looking to develop new technologies within augmented reality (AR), non-fungible tokens (NFTs) and artificial intelligence (AI).

During the course of the program, each participating company will receive guidance from Disney’s senior leadership team, as well as a dedicated executive mentor.

Chart of the Day - 20-Year Consumer Price Index Overview: U.S. Bureau of Labor Statistics

Expectations had favored 8.8% CPI year-on-year. The actual number, however, comes in 0.3% higher than expected at 9.1%, which is the highest reading since the start of the 1980s. Core inflation, which removes the CPI’s more volatile food and energy components, dipped to 5.9% in June from 6% in May.

As of this writing, Bitcoin (BTC) has since climbed back from a 10-day low of $18,919 after the release of CPI, up 5% over the past 24 hours and trading at around $20,300. Ether (ETH) is changing hands at around $1,110, up 6.5% during the same period. The notable gainers include Ethereum layer-2 network Polygon (MATIC) +18.9% and lending protocol Aave (AAVE) +15%.

According to Cointelegraph analyst Rakesh Upadhyay, the first sign of buying strength for Bitcoin (BTC) will be a break and close above the 20-day EMA at around $20,796, which would increase the possibility of a rally to the 50-day SMA at $24,084.

Several on-chain indicators have also been pointing to a likely bottom in Bitcoin (BTC) but the analysts from market intelligence firm Glassnode are not convinced that the low has been made. In “The Week On-Chain” report on July 11, analysts said that the market may have to fall further “to fully test investor resolve, and enable the market to establish a resilient bottom.”

Influencer of the Day - Former Crypto Adviser Michael Barr Confirmed as Top US Financial Watchdog

Former Ripple adviser Michael Barr is set to assume one of the most critical U.S. regulatory roles after winning Senate confirmation by a majority to be vice chairman for supervision at the Federal Reserve.

Barr will have an influential voice in global standard-setting organizations and on the U.S. Financial Stability Oversight Council, which is working on a framework to govern stablecoins.

Barr’s previous academic work has suggested a central bank digital currency (CBDC) could boost the government’s financial inclusion aims. If a CBDC is produced according to his vision, its effect on private, dollar-based stablecoins could be significant.

Buzzes of Yesterday - #CryptoPunk NFT Sold For $2.6M, #Shanghai To Develop Web3 in 5-year plan

Celsius reportedly filing for bankruptcy 'imminently'

Judge Denies SEC Motion To Keep Hinman Docs Secret In Ripple Case

Solana NFT Marketplace Magic Eden Launches Web3 Gaming Investment Arm

Rare CryptoPunk Sells for $2.6M as Collection Continues Resurgence

Tony Hawk Skates Into the Metaverse With ‘Largest Virtual Skatepark Ever Made’

South Korea’s Largest Mobile Operator to Introduce a Web3 Wallet

Shanghai included blockchain, NFTs and Web3 in its 5-year plan

Bank of Russia opposes private stablecoins in the country

Ukraine Seizes Assets From OTC Crypto Brokers for Working With Russians

BIS committee and IOSCO issue guidance for regulation of stablecoin arrangements

Author: Gate.io Researcher Peter L.
This article represents only the researcher's views and does not constitute any investment advice. Gate.io reserves all rights to this article.
Reposting the article will be permitted provided Gate.io is referenced.
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