{"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 <\/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 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 While the latest release supports stand-alone chains, second-layer solutions will be roll-out in the future.<\/p>\n The highly-anticipated release comes hours after US-based billionaire investor, Mark Cuban’s high-profile investment<\/strong><\/a> in Polygon.<\/p>\n Soon after which the platform was listed on Cuban’s website as one of his holdings even as the size or composition of the capital invested has not been divulged yet.<\/p>\n Over the past couple of months, Polygon had entered into strategic partnerships with multiple blockchain projects by assisting them to ramp up by leveraging their second-layer solution which has pushed MATIC’s price amidst crypto rout.<\/p>\n","protected":false},"excerpt":{"rendered":" The dramatic meltdown in the last two weeks did little damage to Polygon [MATIC] 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 … <\/p>\nMATIC’s Rise Coincides With Polygon’s SDK Stack Launch<\/h2>\n
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Tech Billionaire’s Investment in Polygon<\/h2>\n