Polygon 2.0 Update: What Impact Will It Have on MATIC Price?

  • Over the past three months, Polygon’s basic network statistics have flattened, indicating a halt in growth. The captured value of the blockchain has also decreased somewhat in the past few weeks.
  • There has also been a slight decrease in fees and revenues for the blockchain. However, things may change for Polygon in the coming months.
  • A few weeks ago, Polygon announced its next step in the crypto space with an update called Polygon 2.0. This update has great potential and could fuel the growth of MATIC in the coming months.

As the Polygon community prepares for the Polygon 2.0 update, bullish sentiments have increased for the MATIC coin and indicators have turned green.

Polygon Community Prepares for 2.0 Upgrade

Polygon (MATIC)

Over the past three months, Polygon’s basic network statistics have flattened, indicating a halt in growth. The captured value of the blockchain has also decreased somewhat in the past few weeks. However, due to a major update planned for the blockchain, the situation may turn in favor of Polygon in the coming months.

According to Artemis data, certain basic network statistics such as daily active addresses remained stagnant during the three-month period. Additionally, the daily transaction count did not increase significantly. While this indicates stable network activity, it also shows that blockchain growth has halted. There has also been a slight decrease in fees and revenues for the blockchain. However, things may change for Polygon in the coming months.

Polygon-Daily-Active-Addresses

A few weeks ago, Polygon announced its next step in the crypto space with an update called Polygon 2.0. This update has great potential and could fuel the growth of MATIC in the coming months.

The Community Treasury is designed as an in-protocol ecosystem fund directed by the community’s governance. It aims to bring three major advantages to the blockchain: its own sustainable economic support, reducing dependence on the Polygon Foundation, increased centralization, and increased transparency and community participation.

As the capabilities and transparency of the blockchain increase, it can attract new users and thus promote growth. Another major change is the introduction of POL, the successor to MATIC. The blockchain has designed POL as a tool for ecosystem coordination and growth.

MATIC Shows Signs of Recovery

Meanwhile, market sentiment around MATIC was slowly turning bullish. It revealed that MATIC’s bullish sentiment increased by over 25% last week. Social interaction also followed the same upward trend, indicating an optimistic situation.

Polygon’s price also slightly increased last week. According to data, MATIC increased by over 1.3% in the past seven days. At the time of writing, its price was at $0.673 and its market capitalization was over $6.3 billion.

Things could further improve in the coming days as CryptoQuant data showed a decrease in MATIC’s exchange reserves. This decrease could indicate an increase in buying pressure around the altcoin.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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