Bitcoin, Solana & Polygon – European Wrap 25 January

Bitcoin price suffered a setback after hitting its two year high of $48,989 on January 11. The asset dropped to its 2024 low of $38,555 on Tuesday before beginning its recovery to the psychologically important level of $40,000. 

The approval of Bitcoin Spot ETFs by the Securities and Exchange Commission (SEC), ushered a volatility in crypto prices, and divided traders on their sentiment on BTC. Santiment experts recommend taking a contrarian stance to benefit from the shifting Bitcoin price trend. 

The Solana blockchain added a new functionality to serve businesses looking for Real World Asset tokenization. With token extensions, developers will be able to build customized token experiences for businesses, drawing more users to the SOL blockchain and likely driving Solana’s adoption higher. 

Solana price has been in a slump with nearly 14% weekly decline. At the time of writing, Solana price is $88.28. Solana’s latest functionality can help developers gate token transfers by digital assets like NFTs or loyalty cards. This would make it easier for businesses to update tokens tied to Real World Assets.

MATIC price has a shot at invalidating the bearish momentum building up on its chart owing to crucial network development. Polygon is making advances in the interoperability space, and it is starting with intra-operability with a twist.

Polygon took to X, formerly Twitter, to announce the launch of its new “Aggregation” chain that is set to act as a blockchain scaling paradigm. This would be the next in line after the Monolithic and Modular paradigm.