Ethereum's Buterin and Polygon's Nailwal donate $100m for COVID-19 research

Vitalik Buterin, the co-founder of Ethereum, has teamed up with Sandeep Nailwal, the co-founder of Polygon, to direct $100 million toward COVID-19 research and the development of medical infrastructure in India.

Timeline of Ethereum, Polygon

Ethereum is currently following the market trend of Bitcoin and continues to maintain above the $1,800 level. This price level is still bullish for the digital asset which is now only around 60% down from its all-time high.

Ethereum (ETH) price rebounded mildly on Tuesday after an industry-wide retracement induced by SEC's lawsuit against Binance and Coinbase. An in-depth analysis of the on-chain data shows how investors are reallocating capital away from troubled altcoins.

Polygon (MATIC) price entered a free fall after the United States Securities and Exchange Commission (SEC) listed it among the ten cryptos identified as securities. Where will prices find support with investors now in panic mode?

MATIC has experienced a downward trend over the past few months, but there is a possibility of a reversal. In the last 24 hours, the altcoin attempted a slight 0.2% increase, but the weekly chart showed a 13% depreciation, indicating a strong bearish dominance from a technical standpoint.

Ethereum (ETH), the world's second largest cryptocurrency by market capitalization is not having the best of week following the upset the industry received as the US SEC filed securities violation charges against Binance and Coinbase Exchanges respectively. At the time of writing, Ethereum was changing hands at a price of $1,844.24, down by 0.84% over

Representatives of the layer-2 network atop Ethereum confirmed the change in the treatment of ETH after CoinDesk observed a $550 million transfer in blockchain data. The change occurred in conjunction with Optimism's “Bedrock” upgrade this week.

Crypto Market News: In a fresh development, top crypto exchange Kraken is set to launch its NFT Marketplace on the Polygon ($MATIC) network. The exchange announced that Kraken NFTs are officially ready to launch, meaning they are no longer in beta.

Polygon (MATIC) and Shiba Inu (SHIB) are demonstrating remarkably similar trading patterns. Both of these cryptocurrencies have hit their respective fundamental support levels, $0.76 for MATIC and $.0000079 for SHIB, sparking curiosity among investors and analysts alike.

Recent statistics reveal that a significant amount of ethereum staked on Coinbase has been redeemed, with 27,280 tokens being redeemed on June 6. This development comes in the wake of the U.S. Securities and Exchange Commission (SEC) filing a lawsuit against Coinbase for not registering its staking-as-a-service program.

The crypto market has recently met a sharp collapse, creating panic selling among investors. The Securities and Exchange Commission (SEC) has recently filed lawsuits against two major cryptocurrency exchanges, Binance and Coinbase, leading to a significant downturn in the market.