Decentral Block Post

Non-fungible token project y00ts is again switching blockchain networks, only four months after bridging the majority of its NFTs from Solana to Polygon.

DeLabs, the NFT firm behind y00ts, announced via its X (Twitter) account on Aug. 9 it will soon be migrating to Ethereum in line with its DeGods NFT collection.

The NFT collection had mostly migrated from Solana to Polygon in April. The move was first initially announced in December, with the migration starting officially on March 28. By March 30, Polygon announced 11,633 of a total of 15,000 y00ts NFTs had been bridged.

DeLabs said the move was to unite its y00ts community with its DeGods community. DeGods had also announced it would be bridging off Solana in December and similarly began its migration from Solana to Ethereum at the start of April.

“We still love Polygon. It's just time to unite the DeGods & y00ts communities,” y00ts wrote in a statement.

Aptos (APT), the cryptocurrency powering layer-1 blockchain Aptos Network, is up approximately 11.6% since announcing it will leverage Microsoft’s suite of artificial intelligence tools to advance Web3 adoption among banks and financial enterprises.

This will be achieved by enabling the Aptos Network to tap into Microsoft’s Azure OpenAI service to explore innovations in asset tokenization, on-chain payments and central bank digital currencies, Aptos explained in an Aug. 9 statement.

Mo Shaikh, the CEO of Aptos Labs who previously worked at Meta and BlackRock, signaled high hopes for AI-powered blockchain solutions:

"Artificial Intelligence and blockchain technologies are quickly converging for one important reason: they are both generational breakthroughs that profoundly impact the evolution of the internet and shape society.”

One of the new tools, Aptos Assistant — a ChatGPT-powered chatbot — will aim to help users navigate from Web2 to Web3 by offering virtual guidance with the onboarding process.

Bitcoin’s (BTC) rebound off $28,701 on Aug. 7 shows that lower levels continue to attract buyers. The recovery has kept the price stuck inside the range as traders await the start of a new trending move. A recent report by ARK Invest said that “Bitcoin’s volatility dropped to a 6-year low during July.” 

Traders who expected a strong move in either direction have been disappointed by the ongoing range-bound action in August. If history repeats itself, then August and September may turn out to be washout months as their average moves have been 0.73% and -5.01% respectively.

Although the short-term is uncertain, the long-term continues to look attractive. Galaxy Digital CEO Mike Novogratz, citing sources at BlackRock and Invesco, said that the first spot Bitcoin exchange-traded fund in the United States may be approved by the Securities and Exchange Commission in “four to six months.”

Such a move is expected to be hugely positive for the crypto space. In the meantime, let’s look at the important resistance levels to watch out for in Bitcoin and altcoins. Could bulls overcome the roadblock? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin’s strong relief rally from the $28,861 support shows that the bulls have not yet given up and they continue to view the dips as a buying opportunity.