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Ethereum’s scaling solution called Polygon (MATIC) closes 2021 with a bullish sentiment. The asset rate surpassed the previous historical maximum, showing an increase of 64% during the month.
The MATIC token has reached a new all-time high at $ 2.66. The previous MATIC record of $ 2.62 was observed 7 months ago (just a few days before the market crash). Since then, the asset has entered a prolonged phase of accumulation, and in July fell to a low of $ 0.69. As the market recovered, MATIC showed strength and in the second half of the year showed steady growth against previous exchange rates.
The spring MATIC rally was driven primarily by DeFi projects, but other use cases have emerged. The Polygon network has seen an explosive growth in the blockchain gaming sector: as of November 5, more than 70% of unique active wallets were associated with them.
In addition, Polygon has introduced new and improved scaling solutions. In addition to its own ZK-rollup and Miden, the project bought two more scaling solutions – Hermez and Mir. For this, a $ 1 billion reserve fund was used.
Another important development in terms of Polygon’s implementation is interoperability with other networks. Over the past few months, new bridges have been launched, providing users with the ability to quickly and cheaply send funds from Tier 2 Ethereum solutions to the Polygon network and vice versa.
The largest decentralized exchange, Uniswap, recently approved a governance proposal and may add support for the Polygon blockchain. If Polygon-based Uniswap is launched, we can expect a resurgence in the DeFi sector and an increase in network liquidity.
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