• Polygon (MATIC) has seen a surge in its market cap, trading volume and price over the past 24 hours.
• The protocol has been focused on developing its ecosystem, highlighted by the launch of zkEVM (zero-knowledge Ethereum Virtual Machine).
• The number of developers working on the network has also increased from 200 to more than 1,000.
Polygon’s Recent Price Surge
Polygon (MATIC) is soaring today, with a price gain of 11.31% in 24 hours. Its market cap and trading volume have also spiked by 11.46% and 18.39%, respectively, showing increased utility and activity with the token. The gains are not surprising, given that Polygon has been focused on developing its ecosystem. Tom Dunleavy, a senior research analyst at Messari, says the protocol is on the path to success.
The researcher outlined some of the achievements of Polygon recently. A recent tweet by Tom Dunleavy highlighted some developments on Polygon – one of them being zkEVM (zero-knowledge Ethereum Virtual Machine). The purpose of this solution is to position the network to achieve security, decentralization, and scalability; all at once without having to forfeit any features – which is known as blockchain trilemma. According to co-founder Mihailo Bjelic, this technology will position Polygon for more Web3 developments and mass adoption for their token due to its security and scalability capabilities it offers for users.
Increase In Developers & Unlocked Tokens
Dunleavy mentioned that 90% of MATIC tokens distributed are unlocked; indicating increased demand for the coin amongst traders and investors alike who want access to these tokens quickly when they become available. Additionally, he noted that there had been an increase in developers working on Polygon from 200 in 2018 up to more than 1,000 now – suggesting higher growth potential for those investing in MATIC tokens today due to increasing development activity behind it..
It appears that Polygon’s recent surge could be attributed largely due to their focus on developing their ecosystem as well as increasing number of developers working behind it; making MATIC an attractive option for those looking into investing in cryptocurrencies right now
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