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

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

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.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines