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MATIC Price Is Up More Than 10% After Hardfork Announcement

Polygon has shared some hints about its upcoming hardfork.The hardfork wants to speed up the process of verifying transactions by finalizing blocks.MATIC is currently trading at...
MATIC Price Is Up More Than 10% After Hardfork Announcement MATIC Price Is Up More Than 10% After Hardfork Announcement
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  • Polygon has shared some hints about its upcoming hardfork.
  • The hardfork wants to speed up the process of verifying transactions by finalizing blocks.
  • MATIC is currently trading at $1.00 after a more than 10% increase in price.

Polygon took to Twitter on January 12 to share some exciting bits about the network’s upcoming hardfork. One of the main issues that will be tackled by the hardfork is the increase in gas prices that occurs when there is heavy network usage.

The gas fee is expected to drop from its current 12.5% (100/8) rate of change to 6.25% (100/16).

Some of the other changes that will be implemented include a reorg. A reorg occurs when a validator node obtains data that reveals an improved, longer chain. The Polygon network has had a problem with reorgs happening too fast in the past, which is why the hardfork wants to speed up the process of verifying transactions by finalizing blocks.

In addition to this, the change to Polygon’s sprint length will cut the period over which a block producer can generate blocks in half from 64 to 16.

MATIC Network / Tether US 1D (Source: TradingView)

It seems like the crypto community reacted well to Polygon’s hardfork announcement as the price of MATIC increased by over 3% afterwards. CoinMarketCap indicated that the crypto is currently trading at $1.00 after a more than 10% increase in price over the last 24 hours. The altcoin is also still in the green by more than 25% over the last seven days.

Also in the green zone is MATIC’s 24 hour trading volume which currently stands at $618,378,098 after a more than 15% increase since yesterday. With its market cap of $8,838,565,255, MATIC is currently the 11th biggest cryptocurrency.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post MATIC Price Is Up More Than 10% After Hardfork Announcement appeared first on Coin Edition.

See original on CoinEdition

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27-01-2023 21:16:08 (UTC+7)

EUR/USD

1.0853

-0.0037 (-0.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (8)

EUR/USD

1.0853

-0.0037 (-0.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

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Sell (8)

GBP/USD

1.2358

-0.0048 (-0.39%)

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↑ Sell

Moving Avg:

Buy (0)

Sell (12)

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Sell (8)

USD/JPY

129.90

-0.31 (-0.23%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

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AUD/USD

0.7103

-0.0011 (-0.16%)

Summary

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Moving Avg:

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Sell (8)

USD/CAD

1.3331

+0.0011 (+0.08%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

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Buy (10)

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EUR/JPY

141.00

-0.79 (-0.56%)

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Buy (3)

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EUR/CHF

1.0016

-0.0003 (-0.03%)

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Gold Futures

1,927.45

-2.55 (-0.13%)

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Silver Futures

23.610

-0.410 (-1.71%)

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Copper Futures

4.2492

-0.0183 (-0.43%)

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Crude Oil WTI Futures

82.38

+1.37 (+1.69%)

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Brent Oil Futures

88.86

+1.39 (+1.59%)

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Natural Gas Futures

2.845

-0.003 (-0.11%)

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US Coffee C Futures

167.00

-0.15 (-0.09%)

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Euro Stoxx 50

4,160.95

-13.03 (-0.31%)

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Buy

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S&P 500

4,060.43

+44.21 (+1.10%)

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DAX

15,097.45

-35.40 (-0.23%)

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FTSE 100

7,762.80

+1.69 (+0.02%)

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Hang Seng

22,688.90

+122.12 (+0.54%)

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Buy

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US Small Cap 2000

1,903.06

+12.75 (+0.67%)

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↑ Buy

Moving Avg:

Buy (10)

Sell (2)

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IBEX 35

9,033.66

-1.94 (-0.02%)

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Moving Avg:

Buy (8)

Sell (4)

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BASF SE NA O.N.

52.595

-0.025 (-0.05%)

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↑ Buy

Moving Avg:

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Sell (3)

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Buy (6)

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Bayer AG NA

56.31

+0.27 (+0.48%)

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Allianz SE VNA O.N.

221.62

+0.02 (+0.01%)

Summary

Buy

Moving Avg:

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Adidas AG

147.03

+1.75 (+1.20%)

Summary

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Moving Avg:

Buy (2)

Sell (10)

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Sell (10)

Deutsche Lufthansa AG

9.735

+0.008 (+0.08%)

Summary

↑ Sell

Moving Avg:

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Siemens AG Class N

143.53

-0.53 (-0.37%)

Summary

Buy

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12.323

+0.191 (+1.57%)

Summary

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Moving Avg:

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Indicators:

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Sell (0)

    EUR/USD 1.0853 ↑ Sell  
    GBP/USD 1.2358 ↑ Sell  
    USD/JPY 129.90 ↑ Buy  
    AUD/USD 0.7103 ↑ Sell  
    USD/CAD 1.3331 ↑ Buy  
    EUR/JPY 141.00 ↑ Sell  
    EUR/CHF 1.0016 ↑ Sell  
    Gold 1,927.45 ↑ Sell  
    Silver 23.610 ↑ Sell  
    Copper 4.2492 ↑ Sell  
    Crude Oil WTI 82.38 ↑ Buy  
    Brent Oil 88.86 ↑ Buy  
    Natural Gas 2.845 ↑ Buy  
    US Coffee C 167.00 ↑ Sell  
    Euro Stoxx 50 4,160.95 Buy  
    S&P 500 4,060.43 ↑ Buy  
    DAX 15,097.45 Buy  
    FTSE 100 7,762.80 ↑ Buy  
    Hang Seng 22,688.90 Buy  
    Small Cap 2000 1,903.06 ↑ Buy  
    IBEX 35 9,033.66 ↑ Buy  
    BASF 52.595 ↑ Buy  
    Bayer 56.31 ↑ Sell  
    Allianz 221.62 Buy  
    Adidas 147.03 ↑ Sell  
    Lufthansa 9.735 ↑ Sell  
    Siemens AG 143.53 Buy  
    Deutsche Bank AG 12.323 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,720/ 6,820
(30/ 30) # 1,331
SJC HCM6,750/ 6,850
(60/ 60) # 1,361
SJC Hanoi6,750/ 6,852
(60/ 60) # 1,363
SJC Danang6,750/ 6,852
(60/ 60) # 1,363
SJC Nhatrang6,750/ 6,852
(60/ 60) # 1,363
SJC Cantho6,750/ 6,852
(60/ 60) # 1,363
Cập nhật 27-01-2023 21:16:11
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ↀ Giá vàng thế giới
$1,927.30 -3.28 -0.17%
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Sản phẩm Vùng 1 Vùng 2
RON 95-V23.01023.470
RON 95-III22.15022.590
E5 RON 92-II21.35021.770
DO 0.05S21.63022.060
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Dầu hỏa 2-K21.80022.230
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WTI $82.38 -1.14 -1.40%
Brent $88.49 -1.11 -1.27%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.260,0023.630,00
EUR24.857,5526.249,47
GBP28.270,1829.475,66
JPY175,71186,02
KRW16,4320,02
Cập nhật lúc 18:54:25 27/01/2023
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