Polygon

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According to<a href="https://app.intotheblock.com/coin/MATIC/deep-dive?group=financials&amp;chart=price"> IntoTheBlock</a> data, Polygon (MATIC) is seeing a massive spike in its large transaction volume, recording a whopping 2,930% increase in the last 24 hours. MATIC's large transaction volume comes in at $163 million.
The Large Transaction Volume indicator, by definition, provides an estimate of the total amount transacted by whales and institutional investors on a given day. Large transactions are defined by IntoTheBlock as transfers of more than $100,000, and a spike may indicate that institutional players, or whales, are actively buying or selling.
Polygon has been on a steady rise since June 29, marking the fourth consecutive day of being in green. MATIC rose to a three-week high of $0.721 on July 3 before receding slightly, where it trades now.
At the time of writing, MATIC was marginally up in the last 24 hours to $0.70. The token is up nearly 5% in the past seven days.
On the upside, MATIC faces a barrier at the daily MA 50, which coincides with the $0.757 level. On the other hand, the price seems to be building stable support near the $0.60 level.
<h2 id="polygon-pos-to-undergo-new-upgrade">Polygon PoS to undergo new upgrade</h2>
Polygon proof-of-stake is set to undergo a game-changing upgrade, the <a href="https://twitter.com/0xPolygonDevs/status/1676233923041394690">Inborg Upgrade</a>. Polygon Labs researchers set out to investigate the cause and suggest solutions to the community after the network had a few extended block reorgs earlier this year, hurting user experience and chain stability.
<blockquote class="twitter-tweet">
 With better user experience &amp; chain stability in mind, get ready for the Polygon PoS Inborg Upgrade ✨Read the article below to learn all about the incoming upgrade, its benefits, and why it matters 👇🏻👇🏽👇🏾<a href="https://t.co/yr6Pw0iaVw">https://t.co/yr6Pw0iaVw</a> <a href="https://t.co/nANXsbTrjI">pic.twitter.com/nANXsbTrjI</a>— Polygon Developers (@0xPolygonDevs) <a href="https://twitter.com/0xPolygonDevs/status/1676233923041394690?ref_src=twsrc%5Etfw">July 4, 2023</a>
</blockquote>
The Polygon Improvement Proposal (PIP) framework, which is similar to the EIP architecture, serves as a coordination layer for all Polygon PoS upgrades.
The Inborg Upgrade, made possible by the PIP framework, consists of two proposals. First, Indore (PIP-12): A proposed state sync mechanism improvement to improve network stability.
Second, Aalborg (PIP-11) introduces the notion of "Milestones" to achieve faster finality on the Polygon PoS network. The Inborg Upgrade is a two-step process designed to improve network stability and finality time, with Aalborg scheduled for on-chain consensus next month.

Polygon (MATIC) Whale Transactions Jump 2,930% as Price Nears Key Level

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