As a researcher with a background in blockchain technology and experience in analyzing market trends, I find the recent surge in large transaction volume on Polygon (MATIC) intriguing. The 1,493.81% increase in large transactions within the last 24 hours, totaling $102.87 million, is a significant indicator of heightened activity among institutional buyers and sellers. This spike represents a seven-day high and is noteworthy given that MATIC’s price has remained relatively unchanged during this period.
As an analyst, I’ve noticed a remarkable increase of 1,493.81% in large transaction volumes on the Ethereum layer-2 scaling solution, Polygon (MATIC). This significant spike indicates a high level of whale activity on the network.
Institutional buying and selling is indicated by significant increases in large transactions, which are defined as those exceeding $100,000 in value.
As a researcher analyzing data from IntoTheBlock, I’ve discovered that Polygon experienced a significant surge in large transactions within the last 24 hours, amounting to an impressive 1,493.81% increase. This translates to a total transaction value of approximately $102.87 million. In crypto terms, this equates to around 203.98 million MATIC tokens. Notably, this figure represents the highest level of large transactions recorded over the past seven days.
Despite an increase in whale activity, MATIC‘s price remained relatively unchanged. At present, MATIC is priced at $0.511, a 0.84% rise over the past 24 hours. Looking ahead, a potential uptrend could see MATIC reach its daily moving averages of $0.6118 (50-day MA) and $0.808 (200-day MA).
On the other hand, if bears return, support is envisaged in the $0.42 range.
Polygon Miden Alpha testnet v3 goes live
Polygon recently made public the launch of Miden Alpha Testnet v3, which marks the live status of their latest update featuring the Miden zkVM rollup.
The Miden alpha testnet has undergone an improvement, bringing new and exciting features! You might be wondering, what’s new?
— Polygon | Aggregated (@0xPolygon) July 10, 2024
As an analyst, I’d describe Miden as follows: I’m currently working with an innovative zkVM rollup called Miden. This project is still in the testing phase, but it holds great promise. With Miden, users can generate and execute their zero-knowledge proofs, a feature known as client-side proving. For developers, this means creating decentralized applications (dApps) that enable users to prove their local state, ensuring sovereignty, and offering significantly higher throughput compared to traditional systems.
As a crypto investor in TON, I’m excited to share some positive updates about the project. The TON Applications Chain (TAC) is working on integrating a zk-powered layer-2 network with Polygon CDK. This connection will link up to the AggLayer, resulting in seamless interoperability and a unified liquidity pool throughout the TON blockchain ecosystem.
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2024-07-11 20:04