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Polygon Sets the Pace in Ethereum's Layer 2 Race with Upcoming zkEVM Launch, MATIC Rallies

Polygon Sets the Pace in Ethereum's Layer 2 Race with Upcoming zkEVM Launch, MATIC Rallies

Polygon, one of the fastest-growing cryptocurrencies, is gearing up to make a big splash in the world of blockchain with the launch of its zkEVM tool on March 27. The announcement has generated a lot of excitement in the community as it is a significant milestone that will take Polygon to new heights.

Source: Twitter (Polygon)

The zkEVM tool is a zero-knowledge scaling solution that is compatible with the Ethereum Virtual Machine (EVM). It is the first of its kind to integrate smart contracts and developer tools, which means that Polygon will become even more scalable and faster than before. Polygon is already faster and more scalable than Ethereum, and the zkEVM tool will give it an edge over other Layer 2 protocols on the Ethereum blockchain.

The launch of the zkEVM tool is a significant milestone in the world of cryptocurrencies, and Polygon is now the first Layer 2 protocol to launch this type of tool in the crypto ecosystem. Other Layer 2 protocols such as Optimism, Arbitrum, Shibarium, and Base will now have to play catch-up as Polygon takes the lead in the race for dominance.

Polygon has announced that it is partnering with ETH Global ahead of the launch of the new tool. Vitalik Buterin, Ethereum's co-founder, will be a special guest on the launch date, and this partnership is expected to generate even more excitement and interest from the community. It is a significant move that will push Polygon ahead in the competition for dominance on the Ethereum blockchain.

Polygon (MATIC) Among Top-Performing Cryptocurrencies

Crypto aggregator CoinGecko recently took to Twitter on March 18 to share the year-to-date performances of various cryptocurrencies, and Polygon (MATIC) made the list of top performers. According to the post, Polygon saw an increase of 55% since last year, making it one of the altcoins with impressive gains.

Source: Twitter (CoinGecko)

The post also highlighted the performance of other cryptocurrencies, including Bitcoin (BTC), which is up 66% since March 2021. Ethereum (ETH) saw an increase of 50%, while Solana (SOL) was the top-performing altcoin, with a whopping 117% increase since March 2022. Keep in mind that since the time of this report, the general crypto market has recorded more price hikes.

Cardano (ADA) also saw an increase of just over 40%, while Shiba Inu (SHIB) saw a gain of 38%. The performances of these cryptocurrencies indicate the continued growth and interest in the crypto market.

Final Word

The launch of the zkEVM tool is a major move for Polygon, and it is expected to bring even more attention to the cryptocurrency. The tool's launch is just around the corner, and the community is eagerly anticipating what this means for the future of Polygon, its native token, and the entire Ethereum ecosystem.

Overall, Polygon's move to launch the zkEVM tool is a significant milestone for the cryptocurrency and the blockchain industry. It is a testament to the innovative nature of Polygon and its ability to stay ahead of the competition. With the launch of the new tool, Polygon is set to become even more scalable and faster than before, which will attract even more attention from investors and developers alike.

The future looks bright for Polygon, and it will be interesting to see how this development will affect the cryptocurrency's growth and adoption in the coming months.

MATIC Price Action

Currently, MATIC continues to keep its head above the $1.800 mark and hovers around the $1.200 level. Surprisingly, MATIC has had a weaker price performance than other “blue chip” coins, such as Bitcoin and Ethereum, over the past few weeks. Many traders see this as an anomaly, considering MATIC is generally considered more volatile than the other coins mentioned.

MATIC/USDT on TradingView

Moving on, it would be interesting to see if MATIC eventually picks up steam in the coming days and weeks, especially ahead of the launch of the hyped zkEVM solution. Do you think we could see $1.400 soon?

MATIC Statistics Data

MATIC Current Price: $1.200

MATIC Market Cap: $10.5B

MATIC Circulating Supply: 8.7B

MATIC Total Supply: 10B

MATIC Market Ranking: #8

Feeling confident? Trade your idea on MATIC now


This article should not be taken as financial advice. It is essential to conduct research before making any investment decisions.

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