Polygon (MATIC) rally comes to an end as competitors devour market share

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Polygon (MATIC) rally comes to an end as competitors devour market share
مصر أحدث الأخبار,مصر عناوين

MATIC price corrects as competitors devour market share and investor sentiment continues to impact most altcoin prices.

) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated, and was followed with a 10.6% decline over the six days leading into Oct. 10.

Among the benefits of Polygon 2.0 are enhanced security and privacy through ZK proofs, full compatibility with the Ethereum Virtual Machine , and instant cross-chain interactions without requiring additional security or trust assumptions. It's worth noting that the project is continuing to develop its ZK-STARK-based layer-2 solution, Miden.

Metrics from Artemis, an on-chain data provider, reveal a significant disparity between Polygon zkEVM’s 6,210 active addresses compared to StarkNet’s 154,390 and zkSync ERA’s 239,810. A similar discrepancy exists when analyzing the number of daily transactions, with Polygon’s zero-knowledge rollup also trailing competitors.

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