It had made its mark in the month of March and the excitement quickly faded. However, the MATIC Coin price is picking up again this week. Polygon, which is among the most popular altcoins for cryptocurrency investors, is already one of the most popular Ethereum scaling solutions. Moreover, the innovations it aims to achieve indicate that its price can rise even higher in the long term.
Why is MATIC Coin Rising?
MATIC, the native token of Ethereum scaling solution Polygon, reached its new local peak with an increase of about 10% from its lowest level of $0.67 yesterday, as investors expect the upcoming Polygon 2.0 upgrade. According to CoinMarketCap, the popular cryptocurrency is changing hands at $0.73 after a 62% increase in daily volume on Tuesday, and it has reached a trading volume of $500 million in the last 24 hours.
Polygon announced its plans for the 2.0 version, which aims to create the “value layer of the internet,” last month. The blog post during the same period also mentioned that the protocol and treasury will become more decentralized.
SEC and MATIC
The spot price rally, supported by the increase in long positions, is awaiting a major announcement. Polygon 2.0, which is expected to be launched by the end of July, will bring many innovations. In the coming days, the team may start taking the necessary steps to increase excitement. The Polygon team, which has been very successful in the advertising and marketing field, will do its best to turn this into an opportunity for growth.
But what about the SEC? This is a serious problem, but it is not only relevant to MATIC Coin. SEC’s relaxed Howey Test is labeling almost all altcoins as securities. The disadvantage of MATIC and others was that their names appeared in the lawsuits in June. Therefore, many platforms had to delist MATIC and others. Will the recent “decentralization” move be enough to deceive the SEC? We cannot know that today, but MATIC can do something for a solution.
On the other hand, among the altcoins facing the SEC, there will be projects with low budgets that cannot afford legal expenses. Projects like MATIC and ADA Coin seem to have enough power to spend millions of dollars on this. It is not so bad for them in the long run if they assume they will be able to cover the fines that the SEC will impose. Of course, it is important that any potential lawsuit in the future does not last for years, as in the case of XRP.
So what if Ripple declares victory in court at the same time as the announcement of Polygon 2.0? That would be very exciting.
