Top Crypto News: 05/08

Top Crypto News: 05/08

Top Crypto News: 05/08

At the time of press, Bitcoin is trading at $58,951. Meanwhile, the second-largest cryptocurrency, Ethereum, hit a new all-time high of $3,966. Besides this, the meme-based Dogecoin exploded over 90% in the last seven days and, after making a new all-time high, is now trading at $0.657156.

Let’s find out some interesting crypto news for today.

1 – Polygon | Dafi Protocol Partnership to Mitigate Inflation With Lucrative Rewards System

Dafi Protocol partnered with Polygon (previously Matic) to integrate dTokens within their ecosystem. With this coalition, Polygon will utilize Dafi Protocol’s synthetic dTokens to design the dMATIC tokens. Further, these dMATIC tokens will operate to maintain the supply/demand of the Polygon platform. This would help Polygon to utilize Dafi’s reward network for decreasing inflation to maintain the token’s value. Polygon offers an Ethereum scaling framework to create and connect blockchain networks, which will help users to create synthetics dTokens while paying minimal transaction fees in MATIC tokens. Additionally, dMATIC tokens would help to build feasible incentives and an economic model to reward the long-term users, which will impel the token’s utility.

2 – Crypto.com Integrating EVM Blockchain Functionality to Implement Side-Chain Support

Crypto.com announced the upgrade of its platform with Ethereum Virtual Machine (EVM) blockchain functionality. As per the statement given to Cointelegraph, the projects built on Ethereum can enjoy Crypto.com’s ecosystem by switching over to its blockchain. Moreover, this transition will take

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