- TRON is now accessible on the Ethereum network through the BitTorrent Bridge.
- XRP observed a large increase in social volume in May, setting the stage for price recovery ahead of the SEC vs. Ripple verdict.
- Credit Suisse-backed firm Taurus integrated Polygon on its tokenization and custody platforms, boosting the Layer-2 scaling solutions adoption.
This week, Bitcoin and altcoins in the top 30 assets continued their decline. XRP decoupled from the rest of the altcoins and observed a rise in social volume. MATIC’s blockchain continues to bag partnerships and integrations with giants like Credit Suisse-backed Taurus.
Also read: Bitcoin price struggles after mixed US NFP data
Justin Sun’s TRON expanded to the Ethereum network with the BitTorrent Bridge
TRON expanded to the largest altcoin network, likely to drive the token’s adoption higher with exposure to the Ethereum blockchain. Justin Sun, the founder of TRON, announced that the token is fully accessible within the Ethereum ecosystem.
The decentralized social network token will use the BitTorrent Bridge to expand its reach and boost its liquidity on the Ethereum network. TRON price is up nearly 2% since Thursday, trading at $0.0762 at the time of writing.
Also read: Justin Sun’s TRON hits all-time high of 10.9M daily transactions, braving crypto winter
XRP decoupled from altcoins in the crypto ecosystem with rising social volume
Based on data from crypto intelligence tracker Santiment, XRP observed a surge in social volume in online discussions across several platforms. The social volume chart indicates that there were upwards of 3,000 mentions of XRP on May 31.
XRP social dominance and volume as seen on Santiment
At the time of writing, the volume sustained above 2,000 mentions as XRP decouples from the rest of the altcoins and cryptocurrencies.
Read more: XRP unlocks tokens worth $500 million as SEC vs. Ripple verdict looms
Polygon makes strides with its partnerships and integrations with giants
Credit Suisse-backed Taurus deployed on the Polygon blockchain, opening the door to the issuance and custody of tokenized assets for banks and brands. The FINMA-regulated European leader in payments has announced complete integration with Ethereum’s Layer-2 scaling solution.
Banks, brands and issuers can now access tokenized assets on Taurus, supported by the Polygon blockchain, including its native token MATIC and Polygon-based smart contracts. Interestingly, Taurus is a European giant with upwards of 60% market share in Switzerland.
Read more about Polygon’s partnerships here.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Turn off Solana and win $400,000 - Solana Foundation executive announces offer
Solana has been touted as an Ethereum killer, but as with every blockchain in the crypto market, the network does not come without its fair share of issues. While many who get hacked or exploited deal with the issues after the fact, Solana intends to get a step ahead by making a very lucrative offer to white hat hackers.
Grayscale vs. SEC deadline: Commission faces a midnight Friday deadline to challenge August 29 loss
Grayscale Investments secured a resounding victory in its longstanding case against the US Securities and Exchange Commission in late August. The lawsuit started in October after the firm approached the D.C. Circuit Court pushing to have its Bitcoin Trust converted to an Exchange-traded fund.
Loom Network price hits strong weekly resistance after 32% surge as LOOM ranks high on Korea’s Upbit
Loom Network token is highly bullish, passing as a rather lucrative investment for scalping traders, buying and selling the asset within a short period to make small profits.
Voyager founder charged by CFTC for fraud and by FTC for misleading investors that lost $1 billion
Voyager was among the first crypto companies to collapse and file for bankruptcy in 2022. While the platform has been making efforts to return its customers' assets since then, it looks like the regulatory bodies are not willing to be patient.
Bitcoin: Can BTC bears challenge crypto’s 2023 bull rally?
Bitcoin (BTC) price is at a critical juncture in the weekly time frame, where bulls and bears are battling for control. However, a multi-time-frame analysis shows that BTC is bullish daily and is likely to rally higher.