Polygon

Key Points:<ul><li>Polygon’s PoS chain and zkEVM record milestones, with daily transactions soaring.</li><li>MATIC struggles with a more than 9% decline amid increased liquidation and negative sentiment.</li><li>Analysis reveals bearish indicators for MATIC, but zkEVM’s features provide hope for a turnaround.</li></ul>In recent times, Polygon’s [MATIC] network has witnessed significant growth, marked by notable achievements in both its Proof-of-Stake (PoS) chain and the zero-knowledge rollup technology, zkEVM. Despite these advancements, the native token MATIC has faced a downturn, raising questions about its immediate revival.<h2 id="header-0">Polygon’s Progress and Adoption Surge</h2>Celebrating its accomplishments, the <a href="https://cryptosnewss.com/polygons-pol-token-upgrade-a-giant-leap-towards-polygon-2-0/" rel="noopener noreferrer nofollow">Polygon</a> PoS chain achieved a remarkable milestone of 3.2 billion total transactions. Simultaneously, the zkEVM platform hit a three-month high in daily transactions, exceeding 100,000 on November 26. As a result, the cumulative transactions on Polygon zkEVM crossed the eight million mark.Further exploration by AMBCrypto revealed positive trends in both Polygon PoS and zkEVM. Daily Active Addresses and Daily Transactions for both platforms exhibited an upward trajectory, accompanied by an improvement in captured value and increased revenue.<h2 id="header-1">MATIC Faces Investor Discontent</h2>In contrast to Polygon’s flourishing network activity, MATIC, the native token, failed to attract investors. <a href="https://coinmarketcap.com/currencies/polygon/" rel="noopener noreferrer nofollow">CoinMarketCap</a> reported a more than 9% decline in MATIC’s value over the last seven days, with its current trading price at $0.7548 and a market capitalization exceeding $7 billion.Analyzing data from Hyblock Capital, AMBCrypto found that MATIC experienced increased liquidation when its price touched the $0.8 mark, coinciding with a subsequent decline over the past week._______________________________________________________________________________________Stay connected with us on <a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a>, <a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.Originally published at <a href="https://cryptosnewss.com/polygons-network-thrives-but-matic-struggles-can-zkevm-help-overcome-the-bearish-tide/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on November 28, 2023.

Polygon’s Network Thrives, but MATIC Struggles: Can zkEVM Help Overcome the Bearish Tide?

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Cryptos Newss

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