Polygon’s native cryptocurrency MATIC has joined the broader crypto market rally with its price surging by 7.8% and shooting past $0.81. With this, MATIC has extended its weekly gains to 22% and monthly gains to 45%. Polygon Whale Accumulation On-chain data shows that whale accum...
Polygon Whale Accumulation
Earlier this week on November 6th, Polygon’s coin price made a significant move by breaking free from a 22-month downtrend marked by a descending trendline. Should the ongoing buying momentum continue, MATIC’s price could potentially surge by 15%, aiming for the next crucial resistance area at $0.9. Beyond this, the MATIC price could further rally to $1.0.
Also, the MATIC trading volume has surged dramatically, reaching $530,650,670, marking a precisely 49% increase over the past 24 hours.
Polygon’s New Collaboration
Polygon Labs and NEAR Foundation have joined forces to collaborate on the development of a zero-knowledge (ZK) prover tailored for Wasm blockchains. This zkWasm prover serves as a crucial link between Wasm-based chains and the Ethereum ecosystem, including the expanding network of Polygon CDK chains.
As part of this strategic partnership, the NEAR Foundation has become a core contributor to Polygon CDK (Chain Development Kit). The zkWasm prover further enhances the flexibility for developers using Polygon CDK, a comprehensive set of open-source software components that simplifies the creation and launch of ZK-powered Layer 2 solutions on the Ethereum platform.
WebAssembly (Wasm) stands as a widely adopted framework for executing intricate programs within web browsers, thus providing performance akin to native computer applications and underpinning various popular web-based services. In the realm of Web3, the Wasm Virtual Machine also functions as a runtime within blockchain platforms like Near and Polkadot, distinguishing itself from the Ethereum Virtual Machine.