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Feb 16, 2024

Polygon (MATIC) Update: Price Surges with Network Boost

By: Bhumi Shrivastava

Polygon (MATIC) introduces a significant update aimed at improving network performance, particularly on Layer 2.

New Update

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The Etrog upgrade includes support for precompiled smart contracts and introduces new transaction execution methods, boosting functionality.

Enhanced Features

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With added support and features, the update could stimulate higher network activity and value capture on Polygon's zkEVM.

Increased Network Activity

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Following the update announcement, MATIC sees a notable price surge of over 11% in the last 24 hours, reflecting renewed investor confidence.

Price Surge for MATIC

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Despite overall market bearishness, MATIC's daily chart remains in an uptrend, indicating resilience and positive sentiment.

Market Conditions

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At present, MATIC is trading at $0.8869 with a market cap exceeding $8.5 billion, showcasing its significant presence in the crypto space.

Current Market Status

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MATIC maintains high social volume, reflecting its enduring popularity, although weighted sentiment suggests prevailing bearish trends.

Popularity and Sentiment

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