Cryptocurrency While the relatively flat course in the general market continues Polygon (MATIC) altcoin his performance is remarkable. In addition, MATIC has come very close to surpassing Dogecoin in market cap.
According to CoinMarketCap data, MATIC price has increased by 5% in the last 24 hours. In the same time frame, the price of Dogecoin decreased by about 2%.
Market Cap of Polygon (MATIC) Altcoin Extremely Close to Dogecoin (DOGE)
Polygon’s total market value is $1.53 billion at the time of writing, while DOGE’s market value is around $11.99 billion.
Polygon has been showing a lot of bullish ecosystem features over the past few weeks that will help its altcoin grow.
As a Layer 2 protocol, Polygon enables relatively faster and cheaper transactions than most of the so-called Ethereum killers, as well as the main chain Ethereum. As a result, the protocol saw a greater leap forward in non-fungible token (NFT) related activities.
Bloomberg Senior Strategist Mike McGlone shared that Polygon is superior to other tier 2s, considering the strength and growth rate of its ecosystem.
Polygon (formerly known as Matic Network) launched in October 2017.
The Polygon team was a major contributor to the Ethereum ecosystem before moving to its own network in 2019. The team worked on the development of the Plasma MVP, the WalletConnect protocol, and the widely used Dagger event notification engine on Ethereum.
*Not investment advice.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price tracking right now by downloading our apps!