Polygon moves quickly, like a train. The only difference is that it moves more quickly and stops less often. The track is also shared with every other train. Polygon is also the name of the local currency that can be earned through the Polygon network. The MATIC ticker is used when people buy and sell coins. By using this method, one can easily invest in bitcoin crypto at bitcoin code trading software because there is a simple buying process and no formality is required.
Proof-of-stake is the platform’s agreement to keep the network’s integrity and make money (POS). The stock market value of Polygon is now $3.38 billion, and there are 8 billion Polygon coins in circulation.
How does it get started?
Anyone who has ever made a financial transaction using the Ethereum blockchain knows that the network has high transaction fees and slow fulfilment times. Polygon solves these problems by giving people a decentralized platform that makes it cheap and easy for them to do transactions.
Layer two scaling is the way the network appears to its users. Because of its innovative technology for making transactions, up to 65,000 transactions can be made on each side chain every single second. The system uses Proof-of-Stake checkpoints and could eventually handle millions of transactions on the blockchain. The Ethereum ecosystem was also designed to work with decentralised financial protocols that use Polygon’s side chains, which were made for this purpose.
Polygon’s price has gone up by 212 per cent since its lowest point in 2022, and the cryptocurrency market as a whole is growing and showing signs of general improvement.
Since the last day of trading, the coin hasn’t changed much. The lows have been lower than the upper Bollinger Band, which can be seen on the daily chart. This means that the overall uptrend is getting weaker.
In general, the short- to medium-term price path will depend on how prices react to $1, which is the major resistance level, the middle Bollinger Band (BB), or $0.75, which are two important support levels. Even though the market went down at the end of last week, the buyers are still in charge because the bears haven’t been able to take back their recent gains.
Polygon joins the Walt Disney Accelerator Program and starts looking at zkEVM.
The fact that Polygon was chosen to take part in the Walt Disney Company’s accelerator program could be one reason for the currency’s huge success.
This is a big win for the Ethereum sidechain, which is now the only blockchain business that meets the requirements. As part of this project, Polygon will use technologies like augmented reality, natural language processing, and artificial intelligence to build experiences. Polygon is a good choice for NFTs and other smart contract-based systems because it has low transaction costs and a fast throughput.
Polygon has finally said what is going to happen. It has said before that it was testing its implementation of the zero-knowledge Ethereum Virtual Machine (zkEVM), but now it has come out and said so. The co-founder of Polygon, Mihailo Bjelic, says that this method will cut trading costs by about 90% and the time it takes to process transactions by about 50%.
Checking prices with the MATIC
The price of a MATIC coin has gone up by 212 per cent in the last two months, and the rise is still going strong.
The daily chart shows that the middle Bollinger Band ($0.85) and the bottom of the range ($0.75) are the next levels of support. Right now, $1, which is a round number, is the biggest problem.
Prices are now settling under a bull flag, which means that the currency is usually in a bullish shape. The bull bars that appeared on July 27 and 28 show the current trend.
In a bullish continuation pattern, if MATIC closes above $1, it could move more quickly toward the lows of the first quarter of 2022, which are around $1.35. This would show that the progress made on July 27 and 28 was real. This would be especially true if the number of trades went up after the breakout.
On the other hand, bears might decide to sell if the price falls below the middle Bollinger Band. They might try to get to $0.75, which could be the start of a run back up to the highs of June 2022.
Is it a good idea to put money into Polygon for the long term?
You shouldn’t think that Polygon will be less volatile than any other cryptocurrency. Also, the currency hasn’t been able to keep its short gains this year. This suggests that the price may still be going down, even though it has been going up recently.