Bitcoin 
Polygon’s MATIC token soars following Disney collaboration
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Bitcoin broke back above $20,000 following yesterday’s volatile trading after news of a jump in U.S. inflation for June.
The leading cryptocurrency by market value is up 5% on the day to $20,600. Ether, the second-largest crypto gained 10% to roughly $1,200.
MATIC, the native token to Polygon, an Ethereum scaling tool, is today’s top performer according to the Forbes Digital Assets leaderboard. MATIC is trading at 69 cents, up 20% over the last day, at its highest level in a month. The token also climbed above its 50-day exponential moving average. This comes as Polygon is joining Disney’s accelerator program to develop augmented reality, non-fungible token (NFT) and artificial intelligence experiences.
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Yesterday’s U.S. consumer price index release showed a new four-decade high of 9.1%, causing bitcoin’s price to slide minutes after.
This recent CPI data suggests the Federal Reserve may intensify federal funds rate hikes as it concentrates on fighting inflation.
The global cryptocurrency market capitalization is $924 billion, a 5% increase over the last day, according to CoinMarketCap.
