Important News of the Week
šµ Sentient Labs, supported by the co-founder of Polygon, raised $85 million to develop an open artificial intelligence platform. This step aims to democratize AI and enhance AGI (artificial general intelligence) capabilities.
šµ Ripple, the developer of XRP Ledger, announced the launch of a new stablecoin that will compete with Tether and USDC. This step is aimed at expanding the Ripple ecosystem and increasing its market share in stablecoins.
šµ Ellipsis Labs, the developer of the decentralized exchange Phoenix based on Solana, raised $20 million in a Series A round led by Paradigm. The funds will be directed towards improving the functionality and security of the platform.
šµ The transaction volume on decentralized applications (dApp) on the Polygon platform increased by 83%, leading to increased interest in the MATIC token. Despite this, the price of MATIC faced pressure from sellers.
šµ According to CryptoQuant, Bitcoin reserves on cryptocurrency exchanges have reached a multi-year low, indicating a growing interest in storing Bitcoin off exchanges. This could impact the supply of Bitcoin on the market and potentially lead to a price increase.