Polygon (MATIC) network focuses on the growth of its layer two networks

Polygon (MATIC) network focuses on the growth of its layer two networks
фото показано с : invezz.com

2022-3-11 18:08

The price of Polygon (MATIC/USD) could be performing poorly from the recession across the broader cryptocurrency market, but the Polygon network continues to register significant growth in its pursuit of developing a sustainable layer-two network.

Polygon is a layer-two network based on the Ethereum blockchain. The network provides high speeds and low fees to achieve scalability.

Growth of the Polygon network

One of the major developments on the Polygon network is the recently closed $450 million funding round. The funding round was completed on February 7, and it was supported by some of the leading players in the blockchain space, such as Sequoia Capital.

This week, the Polygon network saw a major development after Ankr announced the development of a bridge between the Ethereum and Polygon networks. Through this bridge, users have a chance to earn additional rewards on DeFi platforms.

The Polygon network provides scaling and support to the infrastructure provided by the Ethereum Virtual machine (EVM). The network has gained adoption because despite being based on Ethereum, it allows its users to benefit from low transaction costs and high speeds.

However, the Polygon network has faced increased competition from scalable layer one networks. These networks have been working to be Ethereum killers, and this has been reflected in the launch of DeFi and non-fungible tokens (NFTs) on the platform.

Data from DeFiLlama shows that Polygon is ranking as the eighth-largest blockchain by total value locked. Its TVL stands at $3.62 billion. Between July and December last year, this TVL increased by 340%.

Polygon (MATIC) is on a decline

Despite these developments around the Polygon network, the price of the MATIC token has been on a notable decline. The token has declined by around 50% from its all-time high of $2.92 created in December last year. MATIC was trading at $1.44, with a market cap of $9.92 billion at the time of writing.

In comparison, MATIC’s competitors are ranking among the top ten largest cryptocurrencies by market cap. Terra LUNA’s market cap stands at $36 billion, while Solana and Avalanche’s stands at $26B and $20B, respectively. These coins rank among the top ten largest cryptocurrencies.

The post Polygon (MATIC) network focuses on the growth of its layer two networks appeared first on Invezz.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Santiment Network Token (SAN) на Currencies.ru

$ 0.0865709 (-0.22%)
Объем 24H $210
Изменеия 24h: 9.95 %, 7d: 19.49 %
Cегодня L: $0.0865709 - H: $0.0865709
Капитализация $0 Rank 5672
Цена в час новости $ 0.1272 (-31.94%)

network polygon growth matic continues market cryptocurrency

Источник: invezz.com

network polygon → Результатов: 126


ConsenSys Mesh introduces new advanced NFT standard: TreeTrunk

Tomorrow, Ethereum co-founder Joseph Lubin’s blockchain incubator, ConsenSys Mesh will introduce its new NFT platform TreeTrunk.io at the ETH Denver developer conference. Launching in a beta release on the Polygon Network’s Mumbai testnet, TreeTrunk presents a new smart contract that, for the first time in the Ethereum ecosystem, collects and distributes royalty payments from the […] The post ConsenSys Mesh introduces new advanced NFT standard: TreeTrunk appeared first on CryptoNinjas.

2022-2-18 19:18


Фото:

Humanode Secures $2M Funding As The Testnet Hits 1650 Unique Validators

Humanode, the world’s first cryptobiometric network in which one individual equals one node, has closed its $2 million seed round. The seed round, which was led by Republic Capital, included participation from Tribe Capital, Blizzard – the Avalanche ecosystem fund, Wintermute, GravityX Capital, Shima Capital, Genblock, AU21, and StaFi, as well as Polygon co-founders Jaynti […]

2022-2-11 01:14


Dvision LAND NFTs are coming to Polygon!

The ultimate metaverse multichain future is already here! Dvision Network Jan 13 · 2 min read Dear Community Members, We are thrilled to announce, that we have finalized the support of the Polygon Network in Dvision! We are now set to release our LAND NFTs on Polygon Mainnet as a part of our initiative to […] The post Dvision LAND NFTs are coming to Polygon! appeared first on NFT News Today.

2022-1-13 12:01


Фото:

Pocket Network Announces Closing of Its Strategic Private Sale Led by Blockchain Industry Leaders Republic Capital, RockTree Capital, Arrington Capital and Others to Accelerate Network Development & Global Expansion

Tampa Bay, Florida, U.S.A – 6th January 2022 – Pocket Network – an infrastructure middleware protocol which provides decentralized cloud computing and abundant bandwidth on full nodes to other applications across 20 blockchains, including Ethereum, Polygon, Solana and Harmony has closed a strategic round of $10 Million led by Republic Capital, RockTree Capital, Arrington CapitalRead More

2022-1-7 11:00


Фото:

Gains Network Commences Use of $750k Polygon Grant to Grow Decentralized Leveraged Trading Platform gTrade

Gains Network, the creator of next-gen decentralized leveraged trading platform gTrade has unlocked $250,000 to grow the network. This is part of a $750,000 grant the network has applied for from Polygon to enable it to grow the platform with a goal to make gTrade and Polygon the go-to destination for decentralized leveraged trading on […]

2022-1-6 01:08


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Polygon price forecast: how far can MATIC go after Disney collaboration

Polygon (MATIC/USD) is an Ethereum scaling infrastructure solution aimed at giving developers access to an easier way through which they can develop custom solutions. One of its key components is the Polygon SDK, and through the usage of Polygon, users can create optimistic rollup chains, ZK rollup chains, and stand-alone chains.

MATIC price movement after Polygon partners with Nothing to make Web3 mobile

Polygon MATIC/USD is an Ethereum ETH/USD scaling solution that aims to provide a platform for developers to create scalable decentralized applications (dApps). A core component that makes all of this work is the Polygon SDK which is a modular, flexible framework that supports a multitude of different types of applications.

Matic jumps 25% after strong whale accumulation, should you buy?

Polygon MATIC/USD is an Ethereum scaling solution specifically developed to enable developers to build different applications on top of it. It utilizes the Polygon SDK as a means of providing a modular framework that can support a lot of different decentralized applications (dApps).

Umbria Network joins Polygon ecosystem

Umbria Network, a global platform enabling migration of crypto assets cross-chain quickly and cheaply, has become a member of the Polygon Village (MATIC/USD), an initiative aimed at helping developers grow their projects, Invezz learned from a press release.

Cryptocurrencies under $1 to get you into crypto for June

Polygon MATIC/USD and Cardano ADA/USD  are some of the best cryptocurrencies that you can get for under $1. On May 27, 2022, we saw Tether Token (USDT) launched on Polygon. On May 30, 2022, Cardano Foundation announced the Crypto Valley Conference, where the CEO of the Cardano Foundation, Frederik Gregaard, and the head of financial […] The post Cryptocurrencies under $1 to get you into crypto for June appeared first on Invezz.

Polygon working with projects on Terra: how will this shape MATIC?

Polygon MATIC/USD is a Layer-2 scaling solution, also known as a sidechain, that was specifically developed to provide faster transactions with lower costs for its users. Polygon also has its own native cryptocurrency token known as MATIC, which is used as a means for the payment of fees on top of the network, for staking, […] The post Polygon working with projects on Terra: how will this shape MATIC? appeared first on Invezz.