Polygon Gains in Popularity, Here Are the Reasons
- Polygon [MATIC] experienced a massive increase in transactions.
- MATIC currently trades for $1.09 with a 24-hour trading volume of $455,331,870.
Recently, there have been some substantial changes in the cryptocurrency industry, and various cryptocurrencies are making the news. Investors and traders have been paying special attention to Polygon (MATIC).
An Ethereum blockchain-based Layer 2 scaling solution is known as Polygon (MATIC). Compared to the Ethereum network, it is intend to offer cheaper and quicker transactions. It is believe that the value of the MATIC token is going to rise.
One of the primary reasons for this is the increasing acceptance of decentralized finance (DeFi) and non-fungible tokens. (NFTs). As the use of DeFi and NFTs expands, so does the desire for faster and cheaper transactions. And another reason for the popularity is MATIC’s new partnership with Immutable, a leading Web3 gaming platform. Immutable and Polygon Labs have announced a partnership for building a zero-knowledge-powered blockchain platform for Web3 gaming.
Reportedly, MATIC’s network growth remained high last week as a result of the huge increase in transactions, indicating that more fresh addresses utilized to transfer MATIC. Furthermore, more tokens were distributed among multiple addresses. MATIC currently trades for $1.09 with a 24-hour trading volume of $455,331,870. In the last 24 hours, MATIC has been down by 1.93% as per CMC.
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