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Polygon announced Friday a new $200 million fund to support social media and Web3 in order to explore better ways for humans to connect online. The initiative is being established with Alexis Ohanian’s Seven Seven Six. Alexis co-founded Reddit in 2005 and raised $150 millions for Seven Seven Six in 2020. He is also the early investor for Coinbase and launched a $50 millions Web3 and social media fund together with Solana Ventures last month.
Bitcoin is trading around $46,000 and fell to around $45,000 early today. The $45,000 to $46,000 price level becomes a strong short-term support level for BTC. The overall volume for the spot market is low compared to the average volume in November. The market needs to see a bigger momentum.
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