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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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29-05-2023 15:18:38 (UTC+7)

EUR/USD

1.0722

+0.0003 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (3)

EUR/USD

1.0722

+0.0003 (+0.03%)

Summary

Neutral

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (5)

Sell (3)

GBP/USD

1.2346

+0.0006 (+0.05%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (0)

USD/JPY

140.51

-0.10 (-0.07%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (7)

Sell (1)

AUD/USD

0.6533

+0.0011 (+0.17%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (4)

Sell (1)

USD/CAD

1.3596

-0.0015 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

EUR/JPY

150.66

-0.09 (-0.06%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (6)

Sell (1)

EUR/CHF

0.9693

-0.0016 (-0.16%)

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↑ Sell

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Sell (12)

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Gold Futures

1,960.65

-2.45 (-0.12%)

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Neutral

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Buy (5)

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Silver Futures

23.360

0.000 (0.00%)

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Sell

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Sell (8)

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Copper Futures

3.6770

-0.0050 (-0.14%)

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Neutral

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Crude Oil WTI Futures

73.17

+0.50 (+0.69%)

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↑ Sell

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Brent Oil Futures

77.42

+0.44 (+0.57%)

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↑ Sell

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Natural Gas Futures

2.424

+0.007 (+0.29%)

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↑ Buy

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US Coffee C Futures

180.75

-1.95 (-1.07%)

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↑ Sell

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Buy (0)

Sell (12)

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Buy (0)

Sell (9)

Euro Stoxx 50

4,346.05

+8.55 (+0.20%)

Summary

Buy

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Buy (7)

Sell (5)

Indicators:

Buy (5)

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S&P 500

4,205.45

+54.17 (+1.30%)

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↑ Sell

Moving Avg:

Buy (2)

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DAX

16,026.85

+42.88 (+0.27%)

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Sell

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Indicators:

Buy (1)

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FTSE 100

7,627.20

+56.33 (+0.74%)

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↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

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Sell (8)

Hang Seng

18,528.39

-218.53 (-1.17%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

US Small Cap 2000

1,773.02

+18.42 (+1.05%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (0)

IBEX 35

9,218.98

+27.88 (+0.30%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (9)

BASF SE NA O.N.

47.055

+0.145 (+0.31%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

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Buy (0)

Sell (10)

Bayer AG NA

54.49

+0.09 (+0.17%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (3)

Sell (4)

Allianz SE VNA O.N.

208.48

+1.08 (+0.52%)

Summary

Neutral

Moving Avg:

Buy (5)

Sell (7)

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Sell (3)

Adidas AG

155.00

-0.44 (-0.28%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (4)

Deutsche Lufthansa AG

9.270

+0.048 (+0.52%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

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Buy (5)

Sell (2)

Siemens AG Class N

157.11

+0.43 (+0.27%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (9)

Sell (1)

Deutsche Bank AG

9.820

+0.078 (+0.80%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (2)

    EUR/USD 1.0722 Neutral  
    GBP/USD 1.2346 Buy  
    USD/JPY 140.51 ↑ Buy  
    AUD/USD 0.6533 Neutral  
    USD/CAD 1.3596 ↑ Sell  
    EUR/JPY 150.66 Buy  
    EUR/CHF 0.9693 ↑ Sell  
    Gold 1,960.65 Neutral  
    Silver 23.360 Sell  
    Copper 3.6770 Neutral  
    Crude Oil WTI 73.17 ↑ Sell  
    Brent Oil 77.42 ↑ Sell  
    Natural Gas 2.424 ↑ Buy  
    US Coffee C 180.75 ↑ Sell  
    Euro Stoxx 50 4,346.05 Buy  
    S&P 500 4,205.45 ↑ Sell  
    DAX 16,026.85 Sell  
    FTSE 100 7,627.20 ↑ Sell  
    Hang Seng 18,528.39 ↑ Sell  
    Small Cap 2000 1,773.02 ↑ Buy  
    IBEX 35 9,218.98 ↑ Sell  
    BASF 47.055 ↑ Sell  
    Bayer 54.49 Sell  
    Allianz 208.48 Neutral  
    Adidas 155.00 Neutral  
    Lufthansa 9.270 Buy  
    Siemens AG 157.11 ↑ Buy  
    Deutsche Bank AG 9.820 ↑ Buy  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,640/ 6,680
(-5/ -5) # 1,145
SJC HCM6,640/ 6,700
(5/ -5) # 1,165
SJC Hanoi6,640/ 6,702
(5/ -5) # 1,167
SJC Danang6,640/ 6,702
(5/ -5) # 1,167
SJC Nhatrang6,640/ 6,702
(5/ -5) # 1,167
SJC Cantho6,640/ 6,702
(5/ -5) # 1,167
Cập nhật 29-05-2023 15:18:40
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$1,942.42 -1.55 -0.08%
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Cập nhật lúc 15:10:59 29/05/2023
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