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MATIC price trend shows a bullish breakout of a long-coming resistance trendline. The Polygon price has increased by 33% in 7 days. The breakout run in MATIC price eyes $1. As the bulls continue to struggle to hold Bitcoin at $60,000, the MATIC price has skyrocketed this week.
MATIC is racing to erase its August losses before transition to POL in early September.
Polygon has faced considerable challenges over the past few months, with its price undergoing multiple corrections. Data from CoinMarketCap reveals that MATIC's price has dropped by more than 17% in the last 30 days alone.
Polygon (MATIC) stands as one of the top performers in today's crypto market, ranking third among the top-100 cryptocurrencies by market cap as of August 21. With a gain of 9% within the last 24 hours, the MATIC price recent surge is outpaced only by the Justin Sun associated crypto assets, TRON (+12%) and BitTorrent (+22%).
Polygon (MATIC) price, a Layer 2 scaling solution for Ethereum, has recently seen a significant uptick in its token value. Over the past week, MATIC has surged by 24%, outpacing other cryptocurrencies in the market.
MATIC shows signs of a resurgence, threatening to break out of an extended downtrend in a select altcoin rally.
The leading crypto Coinbase has added Polygon Ecosystem Token to its roadmap today, following which the POL price soared over 15%. The exchange also announced that it would be supporting POL on both Polygon and Ethereum networks, fueling market interests.
Polygon price is up 6% on Wednesday's U.S. trading session following the general market uptick. The bullish momentum backed by whale buying and the network's address activity surge provides a decisive breakout from the five-month correction trend.
Over the past few days, top cryptocurrencies such as Bitcoin, Ethereum Solana, and others have constantly failed to build momentum. This has resulted in them recording a constant dump in their respective portfolios. However, mid-cap altcoins are gaining momentum by recording a massive uptrend over the past few days.
With major cryptos in a somewhat upbeat mood in wake of US economic data revisions that showed the bumper labor market of 2023 wasn't actually quite as strong as thought at the time, investors are turning to altcoin markets as they hunt for top crypto performers today that might be able to deliver quick gains.
After a month of price decline, Polygon's price gained bullish momentum, and things can get even better.
MATIC tokens on Polygon PoS will automatically convert to POL on September 4. POL will serve as the primary token for gas fees and staking on Polygon PoS.
The Polygon Ecosystem Token (POL) price has reached a bearish exhaustion and has dropped to a low of $0.34.
Polygon, a layer-2 scaling solution that runs alongside the Ethereum blockchain allowing for speedy transactions and low fees, has seen a 16,263% surge in large transaction volume, a metric that denotes whale activity.
Amid increased price volatility, the cryptocurrency market has continued displaying a mixed price action over the past few days. However, the market leader, Bitcoin price has successfully reclaimed its $61K level, indicating a strong bullish sentiment in the crypto space.
MATIC price surges with the rest of the market as Bitcoin price sentiment turns bullish. The Polygon community eagerly awaits the rebrand from MATIC to POL, becoming the native gas and staking token for the network.
Polygon (MATIC), the Layer 2 scaling solution for Ethereum, has recently displayed promising signs of bullish momentum. After a period of relative stability, MATIC has begun to show an upward trajectory, prompting discussions among traders and analysts about its potential for further gains.
Polygon Labs CEO Marc Boiron argues that OP Stack chains will plug into the AggLayer.
High-net-worth individuals and private equity funds will drive adoption, said Colin Butler.
Polygon has set September 4 as the date for transition from its native MATIC tokens to the new Polygon Ecosystem Token (POL) tokens.
Bitcoin and most altcoins traded sideways on Aug. 19 as traders await the release of this week's Federal Reserve minutes and the upcoming Jackson Hole symposium.
TL;DR Polygon's Migration: Polygon will replace its MATIC token with POL on September 4, aiming to enhance functionality and user experience. Utility and Expansion: The POL token will boost utility, support network growth, and enable cross-chain services, with long-term plans for broader roles in staking and security.
The leading Ethereum scaling platform, Polygon, made a crucial announcement to its investors ahead of the significant MATIC to POL transition. Scheduled for 4 September, the community-driven and upgraded altcoin will have immediate use cases within Polygon's proof-of-stake (PoS) ecosystem.
Polygon Labs announced a significant commitment to switch its network's native gas and staking token from MATIC to POL. Polygon said the transition will occur in stages, with POL first becoming the native staking token and gas for the Polygon PoS network on September 4.
