Logo
Cardano Ecosystem

CryptosHeadlines

03/14/2024

·

74 views


MATIC Doing Well After Separating from Ethereum: Can (OP) Keep Pace?

Ethereum's Dencun upgrade, introduced on March 13, significantly reduced fees for using layer-2 (L2) networks like Optimism (OP) and Polygon (MATIC) zkEVM. Following the upgrade, fees on these networks plummeted to less than $0.01 and $0.39, respectively.

MATIC Doing Well After Separating from Ethereum: Can (OP) Keep Pace?

Ethereum’s Dencun upgrade, introduced on March 13, significantly reduced fees for using layer-2 (L2) networks like Optimism (OP) and Polygon (MATIC) zkEVM. Following the upgrade, fees on these networks plummeted to less than $0.01 and $0.39, respectively.

Chika Moji New Memecoin Get 100,000 Chika Tokens $100 Free Join Airdrop Now On ChikaMoji.lol

However, despite the optimistic outlook, QCP Capital predicts a potential price drop for Ethereum (ETH). As a result, ETH has declined by over 2%, with OP also dropping by more than 4%. Surprisingly, MATIC has maintained minor gains amidst this market turbulence. This raises questions about which cryptocurrency will benefit most from Ethereum’s Dencun upgrade.

Polygon (MATIC) gained significant attention as its Proof of Stake (PoS) network achieved a new milestone, surpassing 1.23 million daily active addresses. This remarkable feat marked the PoS chain’s maintenance of over a million daily active addresses for 20 consecutive days. Consequently, following this announcement, the price of MATIC surged to $1.26, its highest level since February 2023.

Moreover, the Total Value Locked (TVL) in Polygon (MATIC) zkEVM experienced a notable uptick post-Dencun, reaching a new all-time high of $185 million. This increase in TVL further solidified Polygon’s (MATIC) positive trajectory.

In addition to these achievements, data from Dune Analytics revealed sustained interest and engagement in Polygon’s NFT ecosystem. Despite market fluctuations, the volume of Polygon NFTs traded remained high, underlining continued enthusiasm for Polygon’s NFT offerings.

  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

    View all posts

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on CryptosHeadlines

ORIGINAL SOURCE

https://cryptosheadlines.com/matic-doing...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Genius Yields DEX Launched!

More from CryptosHeadlines

See more
What's Next for BOOK OF MEME (BOME) After Regaining $0.01?
CryptosHeadlines
What's Next for BOOK OF MEME (BOME) After Regaining $0.01?

last Friday at 3:55 PM

·

20 views

Related News

See more
Genius Yields DEX Launched!

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)