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Today’s Cryptocurrency Headline
Ryan Wyatt, CEO of Polygon Studios, tweeted recently: “We are excited to share that Meta is working with Polygon to enter Web 3.” Meta (formerly Facebook) chose Polygon for three reasons: 1. Polygon has a good carbon neutral footprint; 2. Polygon provides scalability; 3. Polygon has a better developer environment, and the developer ecosystem chooses to build on Polygon.
BingX’s Bitcoin Chart
Source: TradingView & BingX
The U.S consumer price index (CPI) fell to 8.3% in April from 8.5% in March, according to the latest release from the Bureau of Labour Statistics on Wednesday. That was above the expected decline to 8.1%. BTC is down 4.3% over the last 24 hours and has fallen to an intraday low of $27,660.00. Due to the crisis of Terra ecosystem, the entire cryptocurrency market cap dropped by 9.1%. The Crypto Fear and Greed Index is showing 12, indicating the market is in the extreme fear territory. BTC is trading at around sub $29,000 and the buyers must hold the price above the $28,000 price to prevent further decline.
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