• Polygon (MATIC) has seen a surge of 11.31% in the last 24 hours, with a corresponding increase in its market cap and trading volume by 11.46% and 18.39%, respectively.
• Tom Dunleavy, a senior research analyst at Messari, has outlined some of the recent advancements made by Polygon such as the testing of its zkEVM security solution and increased number of addresses on the network by 90%.
• The protocol also has more than 1,000 developers working for it which indicates higher growth potential for the coin.
Polygon’s Price Surge & Market Cap Increase
Polygon (MATIC) is seeing a price surge today with an 11.31% gain over the past 24 hours, along with an increase in market cap and trading volume by 11.46% and 18.39%, respectively – demonstrating greater utility and activity with the token.
Tom Dunleavy’s Analysis
Tom Dunleavy, senior research analyst at Messari, believes that Polygon is on track to achieve success due to its efforts in developing its ecosystem. He recently shared some of their recent accomplishments such as:
zkEVM Solution
Testing out their zkEVM (zero-knowledge Ethereum Virtual Machine) solution which aims to address blockchain trilemma optimally i.e., achieving security, decentralization, scalability all at once; according to co-founder Mihailo Bjelic, this will ensure greater mass adoption for the network and coin due to heightened security & scalability features that it offers.
Increased Number of Addresses & Developers
An increased number of addresses on the network – up 90% quarter over quarter – along with 90% unlocked MATIC tokens distributed; plus an even more impressive feat – expanding from 200 developers back in 2018 to more than 1000 now! Having many developers working on a project usually attracts investors’ interests since it indicates higher growth potentials for that particular project or coin/token involved here being MATIC token!
Conclusion
With all these developments taking place within Polygon’s protocols, there is no surprise why MATIC is soaring today! Its impressive list of achievements clearly shows that they are well on their way towards achieving success!