Global #MATIC

Polygon has officially replaced its original token, MATIC, with the new token, POL, to support its evolution into an interconnected network of blockchains called Agglayer.

Polygon, the popular layer-2 scaling solution for Ethereum, is set for a major upgrade on September 4th, 2024. This upgrade will see a key change: the network's native token, MATIC, will be migrated to a new token called POL.

The price of Polygon's native token, MATIC, has been struggling recently. However, a glimmer of hope emerges as optimistic investors might be the key to a potential price surge.

Polygon, a layer-2 scaling solution for Ethereum, has recently surpassed its parent blockchain in a critical area: active user base. This achievement, while not a direct threat to Ethereum's dominance, marks a significant milestone for Polygon and its native token, MATIC.

Polygon (MATIC) appears to be on the verge of an uptrend as the number of whale addresses holding the prominent Layer 2 (L2) token is starting to rise. An analysis of the token’s movements on a daily chart also indicates a gradual resurgence of bullish activity in MATIC’s market.

Lido (LDO), the liquid staking protocol for Ethereum (ETH) and Polygon (MATIC), experienced a significant price surge in the last 24 hours following the long-awaited approval of spot Ethereum ETF applications by the U.S. Securities and Exchange Commission (SEC) on Thursday.

Polygon, the Ethereum scalability solution addressing the network's scalability challenges, has reached a significant milestone: 4 billion total transactions. This accomplishment stands out, especially considering that the network was launched merely four years ago in June 2020.

On Monday, Paradigm, a crypto over-the-counter liquidity network, announced the launch of a block trading facility on the leading derivatives exchange Deribit for options linked to major alternative cryptocurrencies MATIC, SOL, and XRP.

According to data from Santiment, the number of whales holding Polygon (MATIC) tokens has increased over the past month, despite a significant drop in the token's value.

According to data from IntoTheBlock, Polygon (MATIC) reached a significant point where 31,000 addresses collectively acquired 216.94 million tokens at an average price of $0.73.

The majority of Polygon's [MATIC] profits from 2023 and early 2024 have been lost. Will the losses be recouped?

In spite of MATIC's performance in terms of pricing, Polygon continues to lead in a crucial area. In particular, April's non-fungible token (NFT) activity on blockchains powered by the Ethereum Virtual Machine (EVM).