Important News of the Week
🔵 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.
🔵 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.
🔵 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.
🔵 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.
🔵 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.