Crypto News: Latest update on Polygon, USD Coin and Big Eyes Coin

Contents

Polygon unveils Polygon ID
USD Coin: A case of one man’s poison, another man’s meat?
It’s an Excali-Paw! Big Eyes Coin launches new loot box

BIG EYES COIN (BIG):

There is always something happening in the world of cryptocurrency, and sometimes it is hard to keep up with the news short of staying glued to your screen 24/7. However, as investing is fuelled by knowledge, we still want to be kept abreast of reports like how Big Eyes Coin (BIG) is giving out million-making treasures, how USD Coin (USDC) is benefiting from another coin’s suffering, and finally, how Polygon (MATIC) is unveiling a new service.

You are in luck, as that is exactly what this article will succinctly help with.

Polygon unveils Polygon ID

Polygon (MATIC) has recently released Polygon ID, a web3 identity service that enables applications built on blockchain technology to check user credentials without endangering personal data.

According to the official announcement, developers will be one step closer to finding a solution to the issue of digital trust thanks to the Polygon ID self-sovereign identity infrastructure stack.

In compliance use cases like the “Know Your Customer (KYC)” procedure needed for centralised exchanges, permissioned DeFi protocols, and fiat payments gateways supporting on- and off-ramps, the adoption of Polygon ID may be useful.

Additionally, it can be used for decentralized autonomous organizations, password-free login, undercollateralized loan issuance by banks, and client onboarding for e-commerce platforms.

It will be interesting to see how this launch will affect the price of MATIC.

USD Coin: A case of one man’s poison, another man’s meat?

As the U.S. Securities and Exchange Commission (SEC) cracks down on Binance USD (BUSD), investors seem to be running to their competitors to safeguard their money. A fact that has greatly benefitted USD Coin in the past few weeks.

The coin has seen a rise in its market share to 31.3% and a market cap of $42 billion after dropping to $41 billion last month.

It is currently showing an upward trend as it retains its spot as the second largest stablecoin in the market, after the market leader, Tether USDT.

It’s an Excali-Paw! Big Eyes Coin launches new loot box

They gave us the Cute Box, the Kitty Vault and Super Saiyan Box; now Big Eyes Coin is returning with another hit in the loot box chart called the Excali-Paw Master Chest.

This chest will cost $9,999 to buy but will contain treasures ranging from $10,000 to $1,000,000. That’s right. There is no losing in this game. You either win or you really win.

Having raised $30.79 million so far, the feline-themed coin has a lot to be excited about, and the feeling is mutual between the coin and its supporters.

The loot boxes are a popular addition as they copy a feature usually exclusive to video games.

With huge support for the project, most believe that it has what it takes to be the next big thing. For this reason, now might be the best time to buy since there is only a limited supply of loot boxes.