Ethereum

Polygon

Daily

<ul>
 <li><strong>Polygon zkEVM hit seven million daily transactions.</strong></li>
 <li><strong>Polygon native token MATIC hit a four-month high.</strong></li>
</ul>
<p>Polygon, a prominent blockchain network, has been making waves with its recent network updates and the impressive performance of its native token, MATIC.&nbsp; Polygon zkEVM which is a Zero-knowledge Ethereum Virtual Machine Beta hit a significant milestone with seven million transactions in a single day over the weekend. And just hours ago, MATIC reached a four-month high at $0.7471.</p>
<p>Furthermore, Polygon’s daily transactions have surged, marking a 60% increase in the past 90 days, according to <a href="https://twitter.com/TodayInPolygon/status/1721632729194709316?s=20" rel="noopener noreferrer nofollow">reports</a> from TodayInPolygon. In Q3 of 2023, the DeFi sector took the lead in active addresses on the Polygon Proof-of-Stake (PoS) network. It accounts for 57% of the total. NFTs followed closely with 10%, and social applications with 9%. During this quarter, the Polygon network’s daily active addresses grew by 1.4%, reaching 364,000. It is with the DeFi sector playing a pivotal role.</p>
<p>Meanwhile, <a href="https://coinmarketcap.com/currencies/polygon/" rel="noopener noreferrer nofollow">MATIC</a> has seen a surge in bullish activity over the past week, resulting in a significant price increase. In just one week, MATIC’s price has risen by 14%, with an additional 5% increase in the past 24 hours. The trading volume has also experienced a substantial uptick, rising by 22% in the past 24 hours and reaching $314 million.</p>
<p>Amid these developments, an intriguing topic of discussion in the Polygon community revolves around Kraken, a major U.S. cryptocurrency exchange. It is reported by one of the popular crypto media outlets that Kraken is exploring partnerships with leading blockchain technology firms to create its own layer 2 network. The potential partners under consideration are Polygon, Matter Labs, and the Nil Foundation.</p>
<h3 class="wp-block-heading" id="what-s-the-next-stop-for-matic">What’s The Next Stop For MATIC?</h3>
<p>Looking ahead, MATIC’s current <a href="https://thenewscrypto.com/polygon-matic-price-prediction/" rel="noopener noreferrer nofollow">price</a> movements indicate several bullish signals. The 9-day exponential moving average (EMA) currently stands at $0.7497, below the current trading price. Additionally, the daily relative strength index (RSI) is at 75, indicating that the asset is in overbought territory.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-large"><img decoding="async" width="1024" height="466" src="https://thenewscrypto.com/wp-content/uploads/2023/11/MATICUSDT_2023-11-07_13-11-15-1024x466.png" alt="" class="wp-image-85282" srcset="https://thenewscrypto.com/wp-content/uploads/2023/11/MATICUSDT_2023-11-07_13-11-15-1024x466.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/11/MATICUSDT_2023-11-07_13-11-15-300x136.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/11/MATICUSDT_2023-11-07_13-11-15-768x349.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/11/MATICUSDT_2023-11-07_13-11-15-150x68.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/11/MATICUSDT_2023-11-07_13-11-15.png 1515w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Polygon (MATIC) Price Chart, Source: TradingView
  </figcaption>
 </figure>
</div>
<p>If MATIC manages to surpass the $0.7819 resistance level, it is likely to head towards the $0.80 resistance level. On the other hand, if the price falls below the $0.6151 support level, it may decline further, potentially testing the $0.5023 level.</p>

Polygon Daily Transactions Skyrocket by 60% In Just 90 Days

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