Crypto Flipsider News — MATIC Gains 27%, Citi Custodial Service, Binance Zero Fee, Canada Penalizes Exchanges, e-Commerce Looks to NFTs

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Polygon (MATIC) Jumps 27% After Achieving Carbon Neutrality, Bitcoin Falls Back to $20k

Citibank Partners with Metaco to Launch Crypto Custody for Institutions

Binance.US Introduces Zero-Fee Bitcoin Trading, Coinbase Discontinues Coinbase Pro

Canada’s Ontario Securities Commission Bans KuCoin and Fines Bybit

eBay Acquires NFT Marketplace, Shopify Launches Marketplace, and Token-gated Stores

Polygon (MATIC) Jumps 27% After Achieving Carbon Neutrality, Bitcoin Falls Back to $20k

Polygon (MATIC), the popular Ethereum layer-2 scaling solution, has achieved carbon neutrality, a balance between emitting and absorbing carbon.

The announcement has given MATIC a big price boost. Over the last 24 hours, MATIC has gained 27% to peak at $0.5121, a new 10-day high. Polygon’s rally makes MATIC the biggest gainer in the top 100 cryptos ranked by market cap over the last 24 hours.

The 24-hour price chart of Polygon (MATIC). Source: CoinMarketCap

On Polygon’s (MATIC) journey to carbon neutrality, the crypto has become a whale favorite. On-chain data shows that whales holding between 10k and 10m MATIC have increased their holdings by an average of 8.7%.

As MATIC rallied, the world’s biggest crypto, Bitcoin, recorded a dramatic trend change. Bitcoin, which traded as high as $21k on Wednesday, fell drastically, hitting an interday low of $19,848.08.

The 48-hour price chart of Bitcoin (BTC). Source: CoinMarketCap

Bitcoin registered its decline just after Glasnode