• Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA
Sunday, August 7, 2022
Online Crypto College
Advertisement
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading
No Result
View All Result
Online Crypto College
No Result
View All Result

Polygon (MATIC) Price Falls Short Of Reaching Full Potential Despite Recent Developments

June 7, 2022
in Bitcoin
Reading Time: 4 mins read
A A
ShareShareShareShareShare

Related articles

Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal — Twitter Subpoenas Binance and Other Firms – Featured Bitcoin News

August 6, 2022

Whale Exchange Inflows Remain Down

August 6, 2022

The recent trend for Polygon (MATIC) has followed a negative pattern, raising more concern within the industry. Within the midst of the 2022 extended cryptocurrency market correction, MATIC has a consistent bearish overview. From its value of $2.92 on December 27, 2021, the token has fallen by over 60%.

Volatility remains one of the significant characteristics of cryptocurrency that has generated mixed opinions within the virtual space. It creates the basis on which the profitability of the assets stands. Also, it could form the foundation for the collapse of a previously growing project despite its record.

With the overturn of activities, the Polygon network would depend on new motivating development to revive its downtrend. So, it has launched its NFT Minter new version that allows users to create NFTs using customizable functionalities. Also, this NFT execution comes with no gas fees for all customers.

The network-integrated several functionalities within the Minter, such as using ERC-1155 and ERC-721 standards, regular NFTs, and Soulbound. Also, Polygon’s team is concluding its plan for the release of a wholesome minting API. In addition, it has the Unity SDK integration launch and the expansion of batch support.

Related Reading | Bitcoin Dominates Derivatives Market To End May On A High Note

Polygon is trying to pry further with the crypto space with its move. More people regard the option of mining with gas fees to be very appealing both for intending users and existing coin holders. The evidence comes with the increased investment in MATIC from ETH wallet holders.

The Polygon network has experienced an increase in its customer base through the elaborate gaming and NFT adoption. It recorded up to 45.5 increase in its NFT marketplace – OpenSea in 2021. But the present outturn in 2022 shows a different storyline for the project.

Hope For Polygon To Recover Previous Losses

From the Dune Analytics record, you can make a comparison for ETH wallets with MATIC tokens as of June 1 and May 1. The former shows a significant peak than those from the latter. A minimum of 35,309 ETH wallets now have over 1,000 MATIC coins. Also, a minimum of 134,078 ETH wallets hold more than 100 MATIC coins.

Source: Dune Analytics

Another significant positivity is through its Proof-of-Stake (PoS), the top Ethereum commit chain. The Polygon PoS Chain records a rise in its total number of unique addresses.

By using this Chain, customers could do a lot of activities like token swapping, market predictions, playing games, and others. The Chain made a single-day addition of more than 2.5 million new addresses in September 2021. Since then, there has been a progressive increase in Polygon’s unique addresses.

Related Reading | Institutional Investors Turn To Competitors As Ethereum Tumbles

Through the bearish trend of Polygon, about 98% of its users might have suffered some losses. However, they still believe in the viability of the project. It’s of interest to note the number of unique addresses on a network is not equivalent to its users. Some users create multiple addresses to suit their preferences.

Presently, Polygon has gone through a new 1% correction, bringing the price of MATIC to $0.62 at the time of writing.

Polygon (MATIC) Price Falls Short Of Reaching Full Potential Despite Recent Developments
MATIC stands firmly at $0.62 | Source: MATICUSD on TradingView.com
Featured image from Pexels, chart from TradingView.com


Credit: Source link

ShareTweetSendPinShare
Previous Post

Paris Hilton Considers to Buy Land & Collaborate with Shiba Inu Metaverse?

Next Post

Bitcoin, Ethereum, Solana, XRP: Institutions ditch one. Why?

Related Posts

Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal — Twitter Subpoenas Binance and Other Firms – Featured Bitcoin News

August 6, 2022

Tesla CEO Elon Musk has accused Twitter of fraud in his countersuit against the social media company. Twitter filed a...

Whale Exchange Inflows Remain Down

August 6, 2022

On-chain data shows the Bitcoin whale exchange inflows have remained down after hitting a local peak a while back, a...

A Second Ethereum PoW Chain Idea Gains Traction, Poloniex to List ‘Potential Forked’ Token Markets – Bitcoin News

August 6, 2022

Five days ago, the influential Chinese crypto miner, Chandler Guo, explained that a proof-of-work (PoW) version of Ethereum is “coming...

Binance’s CZ Visits The Central African Republic, Meets President Touadéra

August 6, 2022

President Faustin-Archange Touadéra received Changpeng Zhao to discuss bitcoin and crypto. The meeting of the minds happened on Friday and...

Hackers From North Korea Seen As Culprits In DeBridge Finance Cyberattack

August 6, 2022

Hackers from North Korea has reportedly found a new victim in DeBridge Finance, a cross-chain interoperability and liquidity transfer protocol,...

Load More
Next Post

Bitcoin, Ethereum, Solana, XRP: Institutions ditch one. Why?

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Fantom (FTM), Tron (TRX), and Degrain (DGRN)

August 2, 2022

Luxury Retailer Tiffany & Co. Announces Jeweled Cryptopunk Pendants Tied to NFTs – Blockchain Bitcoin News

August 1, 2022

Binance Clarifies Involvement In WazirX As ED Raids Director

August 5, 2022

SEC vs. CFTC — who will regulate crypto markets? – CoinChapter

August 5, 2022

Ethical Hackers Return $9 Million To Nomad Fo…

August 3, 2022

About Us

This is an online news portal that aims to provide the latest Crypto news, Altcoins, blockchain, regulations and much more stuff like that around the world. Feel free to get in touch with us!

What’s New Here!

  • Shark Tank Star Kevin O’Leary Buys the Bitcoin Dip — Says Crypto ‘Desperately Needs Policy’ – Regulation Bitcoin News
  • Elon Musk Accuses Twitter of Fraud in Countersuit Over $44B Deal — Twitter Subpoenas Binance and Other Firms – Featured Bitcoin News
  • Researchers say they discovered consensus level attack on Ethereum — miners cheating the system to earn more

Newsletter

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2022 - OnlineCryptoCollege.com - All rights reserved!

No Result
View All Result
  • Home
  • Live Crypto Prices
  • Crypto News
    • Bitcoin
    • Altcoin
  • Blockchain
  • Regulation
  • Trading
  • Learn Crypto
    • Free Crypto Training
    • iCoinPro Crypto Trading

© 2018 JNews by Jegtheme.

  • bitcoinBitcoin(BTC)$23,001.00-0.80%
  • ethereumEthereum(ETH)$1,682.67-2.31%
  • tetherTether(USDT)$1.000.00%
  • usd-coinUSD Coin(USDC)$1.000.07%
  • binancecoinBNB(BNB)$311.67-1.37%
  • rippleXRP(XRP)$0.372350-0.67%
  • Binance USDBinance USD(BUSD)$1.000.04%
  • cardanoCardano(ADA)$0.52-0.62%
  • SolanaSolana(SOL)$39.94-1.13%
  • polkadotPolkadot(DOT)$8.46-3.25%
  • dogecoinDogecoin(DOGE)$0.068722-1.70%
  • AvalancheAvalanche(AVAX)$26.254.68%
  • daiDai(DAI)$1.000.03%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.48%
  • Lido Staked EtherLido Staked Ether(STETH)$1,625.70-2.37%
  • matic-networkPolygon(MATIC)$0.91-2.17%
  • tronTRON(TRX)$0.069637-0.36%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$22,995.00-0.70%
  • ethereum-classicEthereum Classic(ETC)$37.52-2.91%
  • OKBOKB(OKB)$18.25-0.26%
  • leo-tokenLEO Token(LEO)$4.970.56%
  • litecoinLitecoin(LTC)$60.47-1.81%
  • FTXFTX(FTT)$30.26-1.25%
  • UniswapUniswap(UNI)$8.84-1.28%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.03-1.61%
  • CronosCronos(CRO)$0.144798-1.00%
  • chainlinkChainlink(LINK)$7.75-0.88%
  • cosmosCosmos Hub(ATOM)$10.66-2.15%
  • stellarStellar(XLM)$0.1214191.93%
  • moneroMonero(XMR)$160.69-0.07%
  • FlowFlow(FLOW)$2.66-3.39%
  • bitcoin-cashBitcoin Cash(BCH)$140.500.08%
  • algorandAlgorand(ALGO)$0.350443-0.97%
  • filecoinFilecoin(FIL)$8.91-4.22%
  • vechainVeChain(VET)$0.031162-1.59%
  • ApeCoinApeCoin(APE)$7.25-3.41%
  • Internet ComputerInternet Computer(ICP)$8.20-4.63%
  • decentralandDecentraland(MANA)$1.05-0.93%
  • ChainChain(XCN)$0.0852570.05%
  • HederaHedera(HBAR)$0.0769910.91%
  • The SandboxThe Sandbox(SAND)$1.32-2.33%
  • tezosTezos(XTZ)$1.87-0.05%
  • QuantQuant(QNT)$122.2911.74%
  • Axie InfinityAxie Infinity(AXS)$18.450.83%
  • theta-tokenTheta Network(THETA)$1.590.03%
  • ElrondElrond(EGLD)$64.353.61%
  • FraxFrax(FRAX)$1.000.15%
  • AaveAave(AAVE)$99.04-1.83%
  • Lido DAOLido DAO(LDO)$2.55-0.80%
  • eosEOS(EOS)$1.23-1.78%