{"id":36722,"date":"2021-05-26T17:31:12","date_gmt":"2021-05-26T15:31:12","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=36722"},"modified":"2021-05-26T17:31:12","modified_gmt":"2021-05-26T15:31:12","slug":"matic-stages-28-gains-after-polygon-debuts-sdk","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/matic-stages-28-gains-after-polygon-debuts-sdk\/","title":{"rendered":"MATIC Stages ~28% Gains After Polygon Debuts SDK"},"content":{"rendered":"

The dramatic meltdown in the last two weeks did little damage to Polygon [MATIC]<\/strong><\/a> as it bounced right back up after staging a v-shaped recovery. It is up more than 9,700% year to date. The digital token had defied the market movement during the freefall, which wiped out significant gains, and it continued to do so.<\/p>\n

MATIC, the native digital token of Polygon, a second-layer Ethereum scaling solution, has raked almost 20% after invalidating the losses over the past week. At the time of writing, it surged to $2.29 after posting daily gains of 28%.<\/p>\n

It recorded a market cap of $13.82 billion and a 24-hour trading volume of $8.46 billion.<\/p>\n

\"MATIC<\/p>\n

The above daily price chart for MATIC depicted a quick recovery despite the brutal sell-off in the broader crypto market on the 19th and the 23rd of May. The Relative Strength Index [RSI] also remained in a bullish territory which demonstrated a strong buying sentiment among the investors.<\/p>\n

MATIC’s Rise Coincides With Polygon’s SDK Stack Launch<\/h2>\n

The fresh push, however, comes at a crucial time. Polygon has announced<\/strong><\/a> the release of its software development kit [SDK] which is essentially a new infrastructure for the developers to seamlessly deploy their own Ethereum-compatible blockchains on the network.<\/p>\n

Citing Ethereum’s scalability issues and infra landscape, Polygon SDK intends to establish a structure that is crucial to the ecosystem and offer a framework for multi-chain Ethereum to grow further and quicker pace.<\/p>\n

According to the official announcement, multi-chain Ethereum will function similar to other popular multi-chains such as Polkadot, Cosmos, etc. Polygon also revealed that the SDK will come with some major enhancements.<\/p>\n

This includes the ability to gain from ETH’s network effects. In addition, Polygon chains can also acquire security from the ETH network while simultaneously being more\u00a0flexible and powerful.<\/p>\n

Polygon SDK’s ambitious roadmap also claims to support the development of two major types of solutions:<\/p>\n