•MATIC, the native token of Ethereum scaling network Polygon, has seen a 50% increase in value this month.
• MATIC is currently valued at $10.6 billion and is the tenth-largest cryptocurrency by market capitalization.
• One trader managed to turn an initial investment of $80K into over $4 million with MATIC tokens due to its recent rally.
• The price surge comes as Polygon prepares for their zkEVM update which could put Ethereum on par with Visa in terms of transaction speed and efficiency using zero-knowledge proofs cryptography methodologies.
The cryptocurrency industry is an ever-changing landscape, with new coins and tokens emerging every day. One of the most interesting recent stories has been the surge in value of MATIC tokens, a blockchain asset which is part of the Polygon network. Let’s take a closer look at why these tokens have been so successful, and what makes them so special.
What are MATIC Tokens?
MATIC tokens were created by the Polygon network as a platform-specific token used to power transactions on the Ethereum blockchain. In essence, it acts as a bridge between Ethereum and other blockchains that are part of the Polygon network. MATIC tokens can be used to pay fees associated with transactions on the network, and can also be traded on exchanges like Binance for more traditional cryptocurrencies such as Bitcoin or Ether. As such, it has become an increasingly popular asset for investors looking to diversify their portfolios.
History and Background of MATIC
MATIC tokens were first released back in 2020 by the team at Polygon Network. At that time, they had an initial value of around $0.03 per token – far lower than what they are worth today! Since then, however, they have seen tremendous growth due to increasing demand from investors looking to capitalize on the potential offered by this asset class. In fact, since March 2021 alone their value has increased by over 6500%, making them one of the strongest performing crypto assets in recent memory.
The zkEVM Update
The big news recently has been about a major update called zkEVM (Zero-Knowledge Extended Validation Method). This update utilizes zero-knowledge proofs cryptography methodologies in order to drastically increase transaction speeds and efficiency within Ethereum networks while keeping costs low for users. This development means that transactions will move much faster than before, which should help make MATIC tokens even more attractive for investors as well as developers who want to create applications on top of this platform.
The Remarkable Case of One Trader’s Initial Investment
One remarkable story has emerged from this boom in popularity – that of one trader who invested just $80K into MATIC tokens early on and was able to turn his investment into over $4 million! It goes without saying that this kind of success cannot be guaranteed or expected when investing in any cryptocurrency asset; however, it does serve as proof that there is serious money to be made if you know how to identify good investments and play your cards right when trading these digital assets.
The Future Of MATIC Tokens And Polygon Network
Matic tokens continue to gain ground in terms of investor interest and market capitalization despite some recent volatility due to regulatory changes within India’s banking system which has caused many exchanges based there to halt operations temporarily. Nonetheless, analysts expect this surge in value to continue into the future due mainly due to its strong fundamentals including low transaction costs compared with other blockchains such as Ethereum. As such investors can feel confident that these assets have long-term viability as well as the short-term potential for quick gains if timed correctly!
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