Important news of the week
🔵 Sentient Labs, backed by the co-founder of Polygon, has raised $85 million to develop an open artificial intelligence platform. This step aims to democratize AI and improve the capabilities of AGI (artificial general intelligence).
🔵 Ripple, the developer of the XRP Ledger, has announced the launch of a new stablecoin that will compete with Tether and USDC. This step aims to expand the Ripple ecosystem and increase its market share in stablecoins.
🔵 Ellipsis Labs, the developer of Solana-based decentralized exchange Phoenix, has raised $20 million in a Series A funding round led by Paradigm. The funds will be used to improve the functionality and security of the platform.
🔵 Trading volume on decentralized applications (dApps) on the Polygon platform increased by 83%, leading to increased interest in the MATIC token. Despite this, MATIC price faced selling pressure.
🔵 According to CryptoQuant, Bitcoin reserves on cryptocurrency exchanges have reached a multi-year low, indicating growing interest in storing Bitcoin outside of exchanges. This could affect the supply of Bitcoin in the market and potentially cause prices to increase.
