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Cryptocurrency enthusiasts following Polygon (MATIC) witnessed a significant development today. The Polygon Proof of Stake (PoS) Bridge reached a noteworthy milestone, distinguishing it from competitors and positioning it as a leader. Let’s delve into the details of this advancement and examine the current price levels of MATIC.
Polygon PoS Bridge Leads with Record $80 Million Volume
Polygon PoS Bridge achieved its highest bridge volume in the last 24 hours, nearing $80 million. This significant achievement can be seen as a reflection of the increasing popularity of the Polygon network. It also indicates that users prefer the Polygon Bridge for secure and efficient asset transfers.
This bridge serves as a critical channel between the Ethereum Blockchain and the Polygon sidechain. When considered in this light, the bridge’s high transaction volume demonstrates its effectiveness in meeting community needs as well as its efficiency.
Transaction Increase on Polygon’s PoS Bridge
The increase in transactions on Polygon’s PoS bridge is significant as it indicates a trend towards faster and cheaper alternatives to Ethereum. As gas fees on Ethereum rise, many are turning to Polygon’s Layer-2 solutions to avoid paying such high transaction fees. Low fees, scalability, and speed seem to make the network attractive for both users and dApp developers.
The latest upgrade known as the Etrog upgrade for Polygon zkEVM has now been implemented. With this update, Polygon has added four precompiled smart contracts, a significant step towards a full Type 2 ZK-EVM.
Etrog upgrade enhances the functionality of Polygon zkEVM. It also makes it more scalable, secure, and user-friendly for dApps and smart contracts. This upgrade is likely to create new opportunities for developers and users as it holds key importance in the progression of the Ethereum ecosystem.
Polygon (MATIC) Price
At the time of writing, looking at the altcoin MATIC price, we see that the cryptocurrency has not participated much in today’s rise. MATIC is trading at $0.085, reflecting a daily increase of 1.13%.
MATIC price has been moving within a narrow range for about a month. Currently, the $0.9 to $0.95 levels have become a significant resistance for the price.
