paragraph

As blockchain start-up Polygon gets a <a target="_blank" href="https://www.reuters.com/markets/funds/polygon-raises-450-mln-sequoia-capital-india-softbank-vision-fund-2-others-2022-02-07/">massive funding of $450 million </a>through a private sale of its native MATIC token in a funding round led by Sequoia, SoftBank and Tiger Global, the Web3 start-ups in India believe that it’s the new beginning for the crypto world in India.

<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/Polygon?src=hash&amp;ref_src=twsrc%5Etfw">#Polygon</a> is now backed by the best. It&#39;s truly reflective of the common vision of the many in making web3 the choice of the billions.<a href="https://twitter.com/hashtag/WAGMI?src=hash&amp;ref_src=twsrc%5Etfw">#WAGMI</a>💜<a href="https://t.co/LgG1OSRvEz">https://t.co/LgG1OSRvEz</a>&mdash; Polygon | $MATIC 💜 (@0xPolygon) <a href="https://twitter.com/0xPolygon/status/1490739661656178688?ref_src=twsrc%5Etfw">February 7, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

Although this is not the first time but the size, nature and timing of the deal is leaving crypto enthusiasts upbeat.&nbsp;First and foremost, the deal is massive that values Polygon at $10 billion despite the fact that the company doesn’t have any revenue to show, at least as of now. And then, this is perhaps the first time that a <a target="_blank" href="https://mintgenie.livemint.com/news/markets/what-is-blockchain-151638429935960">blockchain</a> company, and not a crypto exchange, got an emphatic thumbs up from investors.&nbsp;And importantly – the government is giving strong feelers lately that strong diktats to <a target="_blank" href="https://mintgenie.livemint.com/news/personal-finance/budget-2022-cryptos-blockchain-30-percent-tax-all-you-need-to-know-151643707357726">regulate crypto trading</a> would soon be issued in India. Lately RBI’s deputy governor T Rabi Sankar rooted for a complete ban on cryptocurrencies in India. During such a time — when pessimist investors wouldn’t be surprised even if the forthcoming bill on cryptocurrency regulation ensues an end of road for crypto trading in India — this massive funding round is more than enough to cheer the blockchain enthusiasts.One senior official at a top crypto exchange opined that the success of Polygon will encourage several blockchain entrepreneurs to build new Web3 products in India instead of in Abu Dhabi, Singapore or US.&nbsp;What is Polygon?Polygon is Ethereum scaling and infrastructure development platform that enables developers to build and scale blockchain-based applications for projects related to decentralised finance (DeFi), Web3, metaverse, among others. It has more than 7,000 decentralised apps (DApps) built on its platform and over two million daily users.Polygon’s native crypto token is Matic – which is listed on most crypto exchanges. And on the day the funding was announced, the market cap of Matic was nearly $13 billion.&nbsp;"Web3 builds on the early Internet's open-source ideals, enabling users to create the value, control the network and reap the rewards. Ethereum, scaled by Polygon, will be the bedrock of this next stage in the Web's evolution," said Polygon co-founder Sandeep Nailwal in a <a target="_blank" href="https://blog.polygon.technology/polygon-raises-450000000-from-sequoia-capital-india-softbank-galaxy-tiger-republic-capital/">statement issued after the funding</a>.As the platform boasts of two million active users, the Matic token will likely get an impetus after more and more Web3 apps are developed there. Consequently, holders of MATIC token — investors and founders — will have an incentive to make the platform stronger and efficient. &nbsp;&nbsp;&nbsp;The Matic token was trading 7 percent lower at $1.67 per token on Friday, as per the Coin Market Cap data.&nbsp;There is no doubt that the news of funding is seen quite differently from what meets the eye, both by the investors and industry watchers alike; the Web3 technology is still believed to be taking its baby steps.&nbsp;How it eventually unfolds and what shape it would take is a question which only a few can answer.

As Polygon gets $450 million funding, Web3 in India set for a sizzling take-off

Funding round of Polygon seen as a turning point for blockchain sector in India, but native token MATIC still trades low

Health insurance: Policyholders need to account for consumables or buy a rider

Use of crypto by D-Company? ED probes, raids associates: Report

Planning to take a plunge into bond market? Take due diligence first 

Prices of term insurance plans on a rise

Know how you can compound your money to create wealth

SBI, HDFC Bank raise interest rates on fixed deposits (FDs) 

Is it now viable to invest in cryptocurrencies in India?

Which are the prominent NFT platforms in India and abroad?

Greg Abel could be Warren Buffett’s successor: Report

Sensex rises almost 1300 points this week despite headwinds; what is underpinning market sentiment?

<ul><li>The fall in crude oil and other commodity prices seems to have boosted the mood of the market. Besides, RBI's efforts to arrest the fall of the rupee and improvement in macroeconomic indicators are also supporting the market.</li></ul>

Bitcoin holds steady over $20,000; Ethereum and other altcoins in green

The world's largest cryptocurrency, was up on the day slightly 1.21 percent, trading at $20,400 while Ether rose 3.17 percent to 1,174 over the previous day.

Valuations of Asian stocks hit lowest since March 2020

The MSCI Asia-Pacific index's forward 12-month price-to-earnings ratio (P/E) stood at 12.1 at the end of last month, which was the region's cheapest valuation since March 2020, Refinitiv data showed.

TCS Q1 Results: Analysts expect mixed numbers; impact of macro headwinds key

<ul><li>Owing to a sharp rise in inflation and rate hikes, the risk of a recession has increased and most brokerage firms and analysts believe IT companies may see their demand scenario shrinking.</li></ul>

New Investor? Learn what are flag chart patterns and how to trade with them

A popular technical analysis tool, flag patterns are formed by price action contained within a narrow rectangle-shaped or a flag-shaped channel. To learn more about it, keep reading.