Ethereum

Foundation

Polygon

<p>Polygon’s native cryptocurrency MATIC has joined the <a href="https://coingape.com/crypto-prices-today-market-upswings-as-btc-pepe-and-xrp-rally/?utm_source=24hrsupdateall" target="_blank" rel="noopener noreferrer nofollow">broader crypto market rally</a> 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%.</p>
<h3 id="polygon-whale-accumulation">Polygon Whale Accumulation</h3>
<p>On-chain data shows that whale accumulation of MATIC has been going strong over the past few weeks. As reported by Santiment, Polygon’s MATIC has <a href="https://coingape.com/markets/polygon-price-prediction-hints-rally-to-1/" target="_blank" rel="noopener noreferrer nofollow">climbed to $0.80</a>, experiencing a 54% surge in its market capitalization within just three weeks. Over the past two weeks, the prominent wallets holding 100K-10M $MATIC have played a significant role in bolstering this upward trajectory.</p>
<figure id="attachment_163872" aria-describedby="caption-attachment-163872" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="size-full wp-image-163872" src="https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation.jpeg" alt="" width="1749" height="1054" srcset="https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation.jpeg 1749w, https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation-300x181.jpeg 300w, https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation-1224x738.jpeg 1224w, https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation-768x463.jpeg 768w, https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation-1536x926.jpeg 1536w, https://coingape.com/wp-content/uploads/2023/11/MATIC-Whale-Accumulation-150x90.jpeg 150w" sizes="(max-width: 1749px) 100vw, 1749px">
 <figcaption id="caption-attachment-163872" class="wp-caption-text">
  Courtesy: <a rel="noopener noreferrer nofollow" href="https://twitter.com/santimentfeed/status/1722486477433774460" target="_blank">Santiment</a>
 </figcaption>
</figure>
<p>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.</p>
<p>Also, the MATIC trading volume has surged dramatically, reaching $530,650,670, marking a precisely 49% increase over the past 24 hours.</p>
<h3 id="polygon-s-new-collaboration">Polygon’s New Collaboration</h3>
<p>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.</p>
<p>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.</p>
<p>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.</p>
<p>The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/matic-price-hits-4-month-high-above-0-80-amid-polygon-whale-accumulation/">MATIC Price hits 4-Month High Above $0.80 Amid Polygon Whale Accumulation</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.</p>

MATIC Price hits 4-Month High Above $0.80 Amid Polygon Whale Accumulation

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