Power outage for BTC, ETH

Switzerland-based wealth management app SwissBorg (CHSB) has surged back into the Top 100 digital asset ranks (as measured by total market capitalization) with a 9% gain over a 24-hour period during which most of the other 99 coins were in the red.

As of Tuesday at 8 a.m. (EST), CHSB stood at $0.72. In early May, the coin was $1.64.

Details of a planned CHSB Yield 2.0 program recently emerged, teeing up premium staking tiers modeled after and flipping the script on income tax brackets. To exponentially amplify the entire ecosystem, SwissBorg, with its native asset now sitting prettier as CoinGecko’s 94th-largest, is fashioning a first-1,000-tokens-staked honey pot – throwing off an annual rate of as high as 43%.

Reports of Amazon's imminent and splashy crypto foray appear for now to have been greatly exaggerated. That there was for a time rampant (albeit unsubstantiated) speculative buzz over a giant retailer’s loving arms may or may not have played a part in yesterday's Bitcoin spot market volatility. As the story (that Amazon would be taking BTC as payment by year's end) made the rounds, BTC got above $40,000 but later, with a corporate spokesperson's bucket of ice cold water cascading throughout the community, spines shivered, seemingly.

As of Tuesday morning at 6:45 a.m., BTC, over 24 hours, declined 2% to roughly $37,400. During a seven-day stretch that wasn't entirely fueled by Amazon narratives, BTC has increased 21%.

Bullish on-chain data and a massive short squeeze were likely at play (CryptoPotato).

Ethereum, meanwhile, fell 4% to roughly $2,200 on Tuesday. ETH is up 22% over the past week.

India-based blockchain connector Polygon (MATIC) shot back over $1 on Sunday. It spent most of Monday trying on $1.10.

As of yesterday afternoon (EST), the Ethereum-scaling, side-chain framework provider was $1.09, having gained 17% over the prior 24 hours following a choppy couple of days that came in the wake of 20%-plus burst on Wednesday, July 21.

And to think it was only last Tuesday that MATIC was 64 cents. Then again, in January, the token, which can be staked and used to pay for gas, and, additionally, as a means of governance, was sub-two-cents. MATIC reached its all-time high of $2.68 on May 18; that represented at the time a year-to-date gain of more than 13,000%.

Reacquainted with a dollar, the question becomes, as we enter the second half of this year, will MATIC be able to return to ATH glory? Polkadot and Avalanche will have some say in whether MATIC comes to dominate the interconnected blockchain space, said Motley Fool. Plus, if the "Eth2" upgrade roll out succeeds in improving scalability, Polygon's raison d'être could wind up as a redundancy. One last check of MATIC at 8:30 a.m. (EST) revealed it clutching $1.03.

Back in February, the crypto community went into a tizzy over a blockchain job posting from Amazon. It smelled like some digital currency project was afoot in Mexico City.

Three days ago, Bitcoinist.com noticed another similar posting on the Amazon Jobs website. "The Payments Acceptance & Experience team is seeking an experienced product leader to develop Amazon’s Digital Currency and Blockchain strategy and product roadmap." The Block followed up, prying this from an Amazon spokesperson: "We’re inspired by the innovation happening in the cryptocurrency space and are exploring what this could look like on Amazon."

Yesterday, City A.M., London's business news website, citing an anonymous insider, reported that Amazon was planning to accept Bitcoin by the end of this year as part of broader, full-on push into crypto payments that could possibly include issuance of its own native coin. Then Bitcoin spiked.

Several hours later, the retail giant issued this syntax-laden statement: "Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true. We remain focused on exploring what this could look like for customers shopping on Amazon."

By Monday night, BTC had fallen from nearly $40,000 to $37,300.

One of the City A.M. report’s unnamed source's not quite specific details regarding Amazon’s crypto plan: that it's "pretty much ready to roll.”

Analysts and pundits remain puzzled over whether Amazon speculation should be discarded entirely or taken with a big grain of salt; also being pondered – does the prospect of wider spread corporate crypto acceptance really have anything to do with anything whatsoever?