Immutable Partners With Polygon For New zkEVM Ethereum Network

Web3 gaming company Immutable has entered into a strategic alliance with Layer-2 blockchain platform Polygon to work on a project that will onboard more gamers and developers into the Web3 space.  Strategic Alliance Between Competing Networks The strategic partnership between the two leading companies in the blockchain space is focused on creating a new Ethereum scaling network to pair the upcoming Polygon zkEVM with the Immutable platform designed for web3 games.

Timeline of Ethereum, Immutable-x, Polygon

Bitcoin (CRYPTO: BTC) traded slightly lower, but the cryptocurrency prices traded above the key $28,000 level on Tuesday. Ethereum (CRYPTO: ETH), meanwhile, moved higher, trading above the $1,800 mark this morning.

The second-largest crypto asset by market cap, Ethereum (ETH), has more upside potential, according to analytics platform Santiment. The crypto analytics firm says that Ethereum is likely to soar above the $2,000 price after hitting a high last reached seven months ago over the weekend. “Ethereum's price hadn't eclipsed $1,840 since August 18th.

Very positive crypto news for the blockchain industry: the market capitalization of Lido's staked Ether has increased to $10.3 billion, with the cryptocurrency posting significant gains over the past week and Ethereum's price up 11.9%.

Amid the crypto market downturn, Polygon (MATIC) faces an uncertain future, with its price dropping 11% in the last week and network growth declining for three consecutive months. A lack of retail interest and decreasing new addresses on the Polygon network signal potential struggles ahead.

With the crypto market rally slowing down already, digital assets in the space such as Ethereum (ETH) are already recording a decline in their prices. The second-largest cryptocurrency by market cap has closely followed the downtrend started by Bitcoin, falling once more to the $1,700 level.

More than $1 billion of ether (ETH) has been permanently lost due to software bugs and human error. The revelation comes from a study by Conor Grogan, Coinbase's director of product strategy and business operations.

On March 20, Euler Finance hacker sent a message to an Ethereum (ETH) address associated with the DeFi platform. In response, Euler issued an on-chain ultimatum demanding the return of the funds.

Polygon [MATIC] has witnessed a decline in its network activity over the last few weeks. As per Dune's chart, Polygon's unique addresses have registered a downtrend, which was concerning for the network ahead of the zkEVM mainnet launch.

Ethereum recently dipped below $1,800 but is expected to gain traction ahead of the anticipated Shanghai upgrade. The surge in DeFi activity following the banking crisis, which led to investors moving funds into Ethereum-based DeFi protocols, signals a potential bull rally.

On 20 March, Euler Finance's hacker sent a message to an Ethereum [ETH] address related to the DeFi platform. After Euler issued an on-chain ultimatum demanding the funds' return, the hacker offered to start a dialogue.