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Polygon is making a big jump on major developments
Cryptocurrency rising star Polygon (CCC:MATIC-USD) seems moon-bound today after a number of uplifting news items have crypto bulls jumping on the coin. The 13th-largest crypto by market capitalization, MATIC is up nearly 12% this morning spurring a number of Polygon price predictions.
What has Polygon fans so cheery today?
Polygon is experiencing bullish momentum from several stories today. At the top of the list is the recent release of its zk scaling technology, Plonky2. As per a Polygon blog post,
“Plonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively compatible with Ethereum. It combines PLONK and FRI for the best of STARKs, with fast proofs and no trusted setup, and the best of SNARKs, with support for recursion and low verification cost on Ethereum.”
It’s a big step forward in both transactional speed and cost efficiency for the crypto, adding a slew of utility to the already popular coin.
And that isn’t the only piece of positive news for MATIC. Last night, on Jan. 10, the Associated Press announced it’s launching a non-fungible token (NFT) marketplace for its collection of tokenized photographs. Which crypto network will host the NFTs, you might ask? None other than Ethereum (CCC:ETH-USD) layer-2 scaling network, Polygon.
MATIC bulls have plenty to celebrate today. With Polygon currently sitting at $2.24 per coin, let’s see where the experts think the crypto is heading next.
On the date of publication, Shrey Dua did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guideline
Article printed from InvestorPlace Media,
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