MATIC

Chainlink (LINK) witnesses a 17% drop from its yearly peak of $17.16

December 20, 2023 1 min read

Major altcoins Chainlink (LINK) and Polygon (MATIC) have recently experienced significant price fluctuations in the volatile crypto world. Chainlink, which reached a yearly high of $17.16 on December 9, has dropped sharply to $14.25, a 17% drop. Simultaneously, Polygon (MATIC) fell 3.83% in the last 24 hours and 8.50% in the last week and is now trading at $0.779. Despite the price drops, Lookonchain on-chain data analysts have discovered interesting

The US SEC classifies Polygon (MATIC) as security Security

November 25, 2023 1 min read

The US Securities and Exchange Commission (SEC) has classified Polygon (MATIC) as a security, casting a pall over the popular crypto. The SEC’s announcement came as part of a lawsuit against Kraken, accusing the exchange of violating securities laws by operating an unregistered securities exchange, broker, and clearing agency. Polygon, formerly known as MATIC, has been reclassified as a security by regulatory authorities. This echoes similar legal battles faced by

FTX exchange completes nearly $36 million in MATIC and AVAX tokens transfers

November 23, 2023 1 min read

Bankrupt cryptocurrency exchange FTX has completed nearly $36 million in token transfers. According to Lookonchain, the transactions involved Polygon (MATIC) and Avalanche (AVAX). Interestingly, these transfers correspond to FTX’s ongoing settlement negotiations with the US Department of Justice (DOJ), which total $4.3 billion. The MATIC transfer was divided into two sections. One portion, worth approximately $7.45 million in MATIC tokens, was sent to Binance via FalconX. Concurrently, another segment containing

Polygon Plans to Rebrand MATIC Tokens as POL

July 13, 2023 1 min read

Polygon, the popular Ethereum scaling solution, has unveiled its plans for a technical upgrade to its native MATIC token as part of its Polygon 2.0 roadmap. The proposed upgrade, pending community approval, would transform MATIC into POL, a token designed to enhance scalability and security within the Polygon ecosystem. The primary objective of the proposed upgrade is to ensure the scalability of the Polygon ecosystem while maintaining a high level

MATIC Whale Transactions Skyrocket 2,930% as Price Approaches Critical Threshold

July 6, 2023 2 mins read

Polygon (MATIC), a prominent cryptocurrency, has experienced a substantial increase of 2,930% in its large transaction volume within the past 24 hours, as reported by IntoTheBlock. This surge in large transactions, amounting to $163 million, indicates active participation from institutional investors and whales. As MATIC continues its upward trajectory, approaching a crucial price level, it is worth noting that the Polygon proof-of-stake (PoS) network is set to undergo a significant

Revolut Withdraws Support for Cardano, Polygon, and Solana in US Market

June 30, 2023 1 min read

In a recent email sent to its U.S.-based users on June 28, the prominent U.K. fintech firm Revolut dropped a bombshell announcement: it is discontinuing support for three major cryptocurrencies. Cardano (ADA), Polygon (MATIC), and Solana (SOL) will no longer be available for purchase through the Revolut app, effective immediately. Furthermore, Revolut plans to take things a step further in the future. At an unspecified date, users will no longer

Polygon Labs Unveils ‘zkEVM Validium’ Layer 2 Upgrade

June 21, 2023 2 mins read

Polygon Labs, the team behind the widely-used Polygon PoS chain, has recently unveiled a groundbreaking proposal for a significant upgrade to the network. This upgrade aims to introduce a revolutionary decentralized Layer 2 (L2) solution, fortified by zero-knowledge (ZK) proofs, which will enhance the security, performance, and overall functionality of the Polygon ecosystem. Referred to as Polygon 2.0, this upgrade holds immense promise for the future of blockchain technology. What

Crypto Prices Experienced Significant Drops of 25% or More Yesterday

June 11, 2023 1 min read

The cryptocurrency market experienced a significant crash yesterday morning, with many altcoins losing significant value. Bitcoin and Ether, the two largest cryptocurrencies by market capitalization, also experienced losses, but to a lesser extent. The crash was likely triggered by a combination of factors, including the recent lawsuits filed by the Securities and Exchange Commission (SEC) against major crypto exchanges, Coinbase and Binance. The SEC has alleged that these exchanges violated

Polygon Labs Defends MATIC Against SEC’s Security Claim

June 11, 2023 2 mins read

Polygon Labs has issued a response to the United States Securities and Exchange Commission’s (SEC) claims that MATIC is an unregistered security. The team defended MATIC’s status, emphasizing that it was developed and deployed outside the U.S. and focused on the global community supporting the network. They also highlighted MATIC’s role in ensuring the security of the Polygon technology from its inception. Despite Polygon Labs’ statement, MATIC has experienced a

Polygon Exchange Supply Soars Following Whale’s Large Deposit

June 8, 2023 1 min read

Polygon (MATIC) has faced ongoing challenges as its exchange supply, specifically, the amount of MATIC tokens stored in centralized exchanges, experienced a significant spike. This surge in supply is largely attributed to a substantial deposit made by a single whale, adding approximately $95 million worth of MATIC to Binance. The increase in the supply of MATIC on exchanges suggests a higher number of coins being deposited, potentially indicating a trend