Polygon Chosen for Disney Accelerator Program

Polygon selected for Disney Accelerator Program

Now that entertainment giants are jumping into the cryptocurrency space, the Walt Disney Company is finally getting too tempted. On Wednesday, the mass media and entertainment conglomerate announced participants in this year’s “Disney Accelerator,” a partnership to develop new technologies in areas such as augmented reality, NFTs and artificial intelligence.

Polygon, a provider of scaling solutions for Ethereum, is one of the six companies selected for the program and the only blockchain-native platform among them. According to a statement, selected companies will receive investment capital from Disney, access to the Disney Creative Park, and professional support and guidance to work with Disney to build the future of immersive experiences.

bitcoin long and short term holder supply in profit and loss

The US consumer price index in June rose 9.1% year-on-year, higher than the previous market expectation of 8.8%, and hit a new high in 40 years. Hot inflation data may strengthen the Fed’s determination to raise interest rates aggressively. Some investors have even begun to consider the possibility of raising interest rates by 100 basis points at the end of this month. After all, the Bank of Canada has already taken the lead in raising interest rates by 100 basis points, and has given the Fed a demonstration.

The main cryptocurrency market fell immediately after the release of the CPI data, but has since recovered some of its losses and has stabilized. At the time of writing, BTC has managed to break above psychological support at $20,000 after gaining 2.8% over the past 24 hours, but has yet to gain a foothold. The largest cryptocurrency by market cap could see more upside gains if it can stabilize above the 100 hourly moving average and the immediate resistance zone in the $2.03-$2.07 million range. However, price volatility is likely to remain elevated for the next few days as the market looks for a resilient bottom. On-chain indicators show that there is still about 16.2% of the “loss supply” held by short-term investors, which indicates that there will be more selling activity in the market as the bottom-forming signal hits the ground.

Similar to BTC, ETH managed to regain the $1,100 mark after gaining 4.4% over the same period. The second-largest cryptocurrency by market capitalization is expected to see a stronger upward momentum if it can break the $1,150 resistance level. Most of the major non-mainstream coins have risen to varying degrees during the same period. Among them, MATIC led the rise in non-mainstream coins with double-digit percentage increases, and its MVRV reached a nine-month high.