{"id":124321,"date":"2023-07-19T02:01:27","date_gmt":"2023-07-19T02:01:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/polygon-teases-new-launch-even-as-matic-plummets-crypto-news\/"},"modified":"2023-07-19T02:01:31","modified_gmt":"2023-07-19T02:01:31","slug":"polygon-teases-new-launch-even-as-matic-plummets-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/polygon-teases-new-launch-even-as-matic-plummets-crypto-news\/","title":{"rendered":"Polygon teases new launch even as MATIC plummets\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p>\t\t\t\t\t\t<br style=\"clear: both; display: block; float: none;\"\/><\/p>\n<ul>\n<li><em><span style=\"font-weight: 400;\">Polygon&#8217;s daily active addresses and transactions have been moving up for quite a few weeks. <\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">MATIC&#8217;s price declined along with its Open Interest, suggesting a trend reversal.<\/span><\/em><\/li>\n<\/ul>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/MATIC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Polygon&#8217;s [MATIC]<\/span><\/a><span style=\"font-weight: 400;\">  Network activity has gained upward traction for quite a few months now, reflecting higher usage.  The growth could be further fueled by the blockchain&#8217;s upcoming launch, Polygon Miden, which is expected to go live by the last quarter of this year. <\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are<\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-matic-to-usd\" data-wpel-link=\"internal\"> <span style=\"font-weight: 400;\">1,10,100 MATICs worth today<\/span><\/a>,<\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">The update will not only add new capabilities but will also lend a helping hand to improve privacy.  However, the hype around the launch has yet to be reflected on the blockchain&#8217;s native token&#8217;s price chart, as its 24-hour chart was painted red at press time. <\/span><\/p>\n<h4><strong>Polygon&#8217;s network activity looks promising <\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">As per Artemis, Polygon&#8217;s daily active addresses metric has been on an increasing trend for weeks.  The same remained true for its daily transactions, which reflected the high usage of the network.  The network&#8217;s value also went up, which was evident from the blockchain&#8217;s TVL. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Furthermore, after a plummet on July 8, Polygon&#8217;s fees<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/app.artemis.xyz\/dashboard\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">gained<\/span><\/a><span style=\"font-weight: 400;\">  upward momentum, which was an optimistic sign. <\/span><\/p>\n<div id=\"attachment_328543\" style=\"width: 1467px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Artemis-Polygon-1.jpg\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-328543\" class=\"wp-image-328543 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Artemis-Polygon-1.jpg\" alt=\"\" width=\"1457\" height=\"607\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Artemis-Polygon-1.jpg 1457w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Artemis-Polygon-1-300x125.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Artemis-Polygon-1-1024x427.jpg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Artemis-Polygon-1-768x320.jpg 768w\" sizes=\"auto, (max-width: 1457px) 100vw, 1457px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-328543\" class=\"wp-caption-text\">Source: Artemis<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">Amidst this,<\/span> a recent <span style=\"font-weight: 400;\">A blog post from the blockchain revealed that Polygon Miden continues to make progress towards a public testnet.  It will likely be released in Q4 2023. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Notably, Polygon Miden prioritizes zk-friendliness over EVM compatibility.  It also uses a novel state model to exploit the full power of a zk-centric design. <\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Ether is Ethereum&#8217;s native asset.  Ether is the only asset for paying fees &#038; the only asset stored directly in accounts<\/p>\n<p>In contrast, Polygon Miden treats all assets as native<\/p>\n<p>Our series on the novel ZK rollup continues w\/ a deep dive into its asset model:<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/n1pOPh2ZAm\" data-wpel-link=\"external\">https:\/\/t.co\/n1pOPh2ZAm<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/tqKjHokUmL\" data-wpel-link=\"external\">pic.twitter.com\/tqKjHokUmL<\/a><\/p>\n<p>\u2014 Polygon Developers (@0xPolygonDevs) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygonDevs\/status\/1680946007729754112?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\">July 17, 2023<\/a><\/p>\n<\/blockquote>\n<h4><strong>A quick look at MATIC&#8217;s state<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">While Polygon&#8217;s network stats looked encouraging, MATIC investors were not happy as the bull rally came to an end.  as per<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">the token&#8217;s price declined by more than 3% in the last 24 hours. <\/span><span style=\"font-weight: 400;\">At press time, it was trading at $0.7552 with a market capitalization of over $7 billion. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">CryptoQuant&#8217;s<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/matic\/summary\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">date<\/span><\/a><span style=\"font-weight: 400;\">  revealed that the token was under selling pressure at the time of writing.  MATIC&#8217;s exchange reserve was on the rise as well, which could be a cause for trouble. <\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">read<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Polygon&#8217;s [MATIC] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\">  2023-24<\/span><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">However, the rest of the metrics favor a price uptick.  For instance, as per Coinglass,<\/span> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/matic-pullback-threatens-recent-gains-can-bulls-contain-it\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Matic<\/span><\/a><span style=\"font-weight: 400;\">&#8216;s open interest was declining.  A decline in the metric means that the current price trend might end soon. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Polygon&#8217;s active addresses were also high at press time, which is, by and large, a positive signal.<\/span><span style=\"font-weight: 400;\"> <\/span><\/p>\n<div id=\"attachment_328544\" style=\"width: 1717px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-328544\" class=\"wp-image-328544 size-full\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1707\" height=\"517\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass.jpg 1707w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-300x91.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-1024x310.jpg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-768x233.jpg 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-1536x465.jpg 1536w\" data-lazy-sizes=\"(max-width: 1707px) 100vw, 1707px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass.jpg\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-328544\" class=\"wp-image-328544 size-full\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass.jpg\" alt=\"\" width=\"1707\" height=\"517\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass.jpg 1707w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-300x91.jpg 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-1024x310.jpg 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-768x233.jpg 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/07\/Coinglass-1536x465.jpg 1536w\" sizes=\"auto, (max-width: 1707px) 100vw, 1707px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-328544\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon&#8217;s daily active addresses and transactions have been moving up for quite a few weeks. MATIC&#8217;s price declined along with its Open Interest, suggesting a trend reversal. Polygon&#8217;s [MATIC] Network activity has gained upward traction for quite a few months now, reflecting higher usage. The growth could be further fueled by the blockchain&#8217;s upcoming launch, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":124322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-124321","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/124321","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=124321"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/124321\/revisions"}],"predecessor-version":[{"id":124323,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/124321\/revisions\/124323"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/124322"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=124321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=124321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=124321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}