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Bitcoin is still struggling to lift the major resistance of $37,500 and is trading at $34,109. Notably, if the BTC/USDT pair falls below $34,000, then it could lead to critical support at $30,000 and $28,000. Meanwhile, the second-largest cryptocurrency, Ethereum, is looking strong and trading close to $2,625.
Let’s deep dive into some interesting crypto news for today.
1 – Crypto.com Reveals Support for Ethereum-Based NFTs for Its DeFi Wallet Users
Crypto.com announced its support for Ethereum-based NFTs in its DeFi Wallet. As per the tweet, this DeFi Wallet would support ERC721 and ERC1155 NFTs on the Ethereum network. With this upgrade, users can easily manage and admire their NFT collection in the DeFi Wallet app. Further, users can send and receive NFTs simply by scanning (sending) or copying the wallet address (sending/receiving). Notably, to enjoy this NFT option, users are required to upgrade their DeFi Wallet to V1.12.0 or above. Crypto.com is one of the fastest-growing crypto apps, along with its exchange, Crypto.com Visa card, and DeFi Wallet. Hence, this initiative may spur the adoption of the Crypto.com ecosystem.
2 – Unmarshal | Polygon Integration to Empower Developers With Enhanced Product Suite
Unmarshal has declared the launch of its API product suite for Polygon Network (formerly Matic). This launch will help developers who are building on top of the chain to obtain meaningful and reliable on-chain data. Unmarshal is a multi-chain DeFi data network that strives to deliver reliable and real-time data to dApps. Hence, this integration helps to develop a plug-and-play scaling solution that will help dApps achieve faster and cheaper transactions. Further, this will allow developers to create and deploy data avenues such as WebSockets, push notifications, APIs, and many more on the Polygon network. In addition, Unmarshal will integrate some of its important features to secure the data ecosystems. These features include wallet balance API, notification API, transaction tracking, and more.
3 – El Salvador’s President to Recognize Bitcoin as Legal Tender
The president of El Salvador, Nayib Bukele, purposes to introduce legislation for the adoption of Bitcoin as legal tender. As per the announcement, he stated that he will submit the bill next week. The bill will be reviewed by the country’s legislative assembly. Once this bill gets approval, then El Salvador will become the first nation to adopt Bitcoin as legal tender. Bukele also stated that 70% of the population does not have a bank account. Hence, this new policy may uplift the standard of living for citizens of El Salvador.
4 – Relite Finance | Shield Partnership to Boost Security Amidst Launch of $SHLD Pool on Relite Platform
Shield Finance has partnered with Relite to provide security and insurance coverage to their ecosystem. As per the tweet, $RELI holders can opt for financial protection to secure their Relite government token funds. This protection includes security against a market-wide sell-off resulting in a price drop. Shield Finance is a DeFi insurance aggregator that offers insurance coverage to users against hacks, rug pulls, and more. In addition, Shield Finance would launch the $SHLD pool on the Relite platform. With this launch, users can also enjoy the instant cross-chain lending of Shield Finance’s native token on Relite.
5 – Mozik IDO Live on Ignition and Will Launch Its First NFT on Polygon
Mozik declared that its IDO will go live on the PAID Ignition platform today. As per the tweet, the team has allocated 9,000,000 $MOZ tokens for the whitelist participants at the price of $0.02 per token. Mozik offers a platform to connect music content creators directly to their consumers by leveraging NFTs to monetize intellectual property adequately. With this allocation, 1053 winners will be selected randomly from a lottery for the Moon Pool, with another 393 winners selected for the Galaxy pool. Notably, the holders of these tickets will also get exclusive access to Mozik’s IDO on Ignition.
Additionally, Mozik announced the launch of its first NFT on Polygon (previously Matic). This NFT collection will be from three-time GRAMMY award-nominated artist Joseph Wooten. Impressively, Mozik also listed on Uniswap and PancakeSwap today.
🔥 @MozikMoz, a music NFT platform, is building on Polygon!
🎙️ Mozik plans to launch its first NFT with @jwootensoul from #wootenbrothers, a 3-time #GRAMMYs award-nominated artist.
🌐 Learn More: https://t.co/nnsQSvLFjt pic.twitter.com/rCO6yDpIVR
— Polygon (previously Matic) (@0xPolygon) June 7, 2021
6 – Cryption Network Teams up With MahaDAO to Bring Triple Reward Farming Amidst Cryption IDO Launch on PAID Ignition
In the last bit of crypto news for today, we have Cryption Network integrating with MahaDAO to bring triple reward farming for $ARTH holders. MahaDAO is a decentralized independent organization that is governed by the MAHA community, and ARTH is the valuecoin of its ecosystem. Notably, ARTH is a stablecoin that is pegged to the Global Measurement Unit (GMU), which makes it appreciate over time against the Dollar. With this coalition, Cryption will design a farm on PolyDEX for ARTH/USDC users with triple rewards. In addition, users can enjoy higher APRs and triple rewards in the form of ARTHX, MAHA, and CNT.
Collaboratively, the teams are working to create an asset that will protect the purchasing power of the holder. Further, MahaDAO users can integrate with Cryption DeFi products with the utmost security and zero friction. Additionally, the Cryption IDO will also launch on PAID network’s Ignition and Poolz platform on June 8, 2021.
The time has come. We're are about to lift off!🚀
🗓Set the date right!
We will be launching the Cryption #IDO on @paid_network's Ignition and @Poolz__ on Tuesday, June 8.
⌛️Mark the time – 11 AM UTC#DeFi #crypto $IDO $CNT pic.twitter.com/tgmBjfAwvP
— Cryption Network (@CryptionNetwork) June 7, 2021