Altcoin News by Thebittimes.Com

In a recent Twitter thread, Sandeep Nailwal , the founder of Polygon , unveiled the potential of POL. POL is a new upgrade designed to power Polygon 2.0. This innovation aims to redefine the landscape of Layer 2 (L2) solutions, offering a multi-dimensional approach to staking and network security. According to Nailwal, POL will facilitate multi-chain staking without the inherent risks associated with re-staking. Furthermore, with the advent of Polygon 2.0, the ecosystem will transform from a single chain into a network of interoperable L2 solutions. POL is a massive technical upgrade to MATIC POL delivers the benefits of multi-chain staking without the added risks of restaking. With the Polygon 2.0 proposal, the Polygon Ecosystem will expand from a single chain to an ecosystem of L2s that can easily interoperate and share… — Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) August 28, 2023 Nailwal says POL is an innovation in re-staking  ...

Also Read: Standard Chartered Revises Bitcoin (BTC) Price Prediction To $50000, $120K In 2024 advertisement Recently, CoinGape reported that the MATIC price could find support at $0.745, as against the current trading level of $0.73. Meanwhile, on-chain data showed signs that the cryptocurrency was witnessing rebounding network growth, which supports price growth. MATIC Price – What’s Driving Rally According to Santiment Insights, behind the mini bull run for the top 12 cryptocurrency’s price are rebounding network growth, decreasing supply on exchanges, and low profit taking. Another clear trend that supports the growth is the rise in the new MATIC addresses per day in the last 30 days. “$MATIC is on a mini run today, with a +6% price rise in the past 8 hours. Some positive on-chain signs for the 12th ranked market cap asset include rebounding network growth, decreasing supply on exchanges, and low profit taking.” ...

The crypto markets bled this week due to the FTX and Alameda-induced crash. Leading crypto s plummeted to 2020-21 lows shedding all gains that it generated in the last 12 months. Bitcoin is at the $17,000 level and is at its November 2020 lows. The markets went helter-skelter with no signs of a possible recovery. However, after the CPI report was out on Thursday showing inflating at 7.7% compared to 8.2% the previous month, the crypto markets shed the baggage and briefly turned to green. BREAKING: 🇺🇸 US inflation falls to 7.7%, lower than expectations. — Watcher.Guru (@WatcherGuru) November 10, 2022 Also Read: FTX: Sam Bankman-Fried faces SEC’s wrath in new probe Here are 3 Coins That Are Recovering After the Crash 1. Solana (SOL) Source: CNBC Solana faced the heat of the market crash as Sam Friedman-Bank’s Alameda Research has nearly $1.2 billion worth of SOL. The idea that Alameda could dump their SOL holdings to refrain from being ...

Polygon ( MATIC ) was the top crypto performer in the previous week. Many developments helped push the token to the top of the charts, rallying by 30% in two days. Social media giant, Meta, announced its NFT (non-fungible token) plans to take place on the MATIC network. Furthermore, JP Morgan completed its first-ever DeFi (Decentralized Finance) trade over the same network. Both parties are among the biggest in their respective industries. The Ethereum scaling solution has made serious headway in the web3 space. Their platform is one of the most used for web3 development. What makes Polygon (MATIC) the top blockchain for web3? According to a recent study by Bernstein, Polygon (MATIC) is the top blockchain for bridging web2 users into web3. The report highlighted two steps that the company has taken in the right direction. Firstly, the company has hired experts from major international tech firms including Amazon (AMZN), YouTube, and Airbnb (ABNB). Secondly, it has done extensive...

The IRL use cases of Polygon have been on the rise. Just a day back, Polygon co-founder Sandeep Nailwal announced via a Twitter thread that the Polygon blockchain is now being used by Firozabad police in the Indian state of Uttar Pradesh to fight against local corruption and crime. He tweeted, “ With an FIR (first information report) going on blockchain, specifically if people can get online platform to file these with their identity, no lower level officers can deny the FIR. This could be a game-changer in ensuring right to justice .” In fact, in another development that took place on 12 October, Chainlink wrapped up integration across Polygon, emphasizing on the adoption narrative. 1/ ⬡ DAILY WRAP-UP ⬡ ⛓️ Integrations across #BNBChain, #Ethereum, and #Polygon ⛓️ 🧵👇 pic.twitter.com/nVkliMvV0o — Chainlink (@chainlink) October 13, 2022 Polygon active addresses attain new high On the on-chai...

Virtua is trying to ramp up its NFT marketplace with its new partnership with Polygon. NFTs and other crypto-related items were put on hold as the bears grabbed control of the cryptocurrency market. Many people were surprised by this, given the excitement around the NFT industry. In its recent announcement, Polygon unveiled a new partnership with Virtua to enhance its NFT marketplace. JUST IN: #Polygon partners with Virtua to enhance its NFT marketplace. — Watcher.Guru (@WatcherGuru) October 11, 2022 Following the sharp decline in its sales, many in the community avoided conversations about how NFTs were the way of the future. In the view of many, non-fungible tokens were just a passing trend. However, well-known platforms like Polygon didn’t stop seeing opportunities in the sector. Polygon and Virtua to aid in reducing fees and improving speed The new partnership aims to reduce the fees on Virtua ’s NFT marketplace, increase the speed, and mi...