After a week-long period of instability, Polygon (MATIC) has maintained its rapid advance. The token is now trading at $1.14, representing a 45.3% monthly increase.
After the token’s price surpassed $1, analysts were notably positive. With the present strong mood for MATIC being fueled by excellent on-chain development, we may expect further favourable price movement for the cryptocurrency in the next few days or weeks.
The official Polygon Twitter account offers a compilation of good on-chain ecosystem developments titled Weekly Briefings.
In this week’s roundup, Polygon hard-forked successfully to increase performance. The video indicates that the improvement focuses on Polygon’s management of reorgs and gas surges. Reorgs are a temporary duplicate of the whole ecosystem’s blockchain. This improvement enhances the user experience on the blockchain.
The decrease in gas price spikes would allow consumers and developers to save money on gas costs since the rate increase during periods of high demand would be much more gradual.
Fractal, a Web3 game creation platform, will also be joining Polygon, expanding its reach inside the Web3 gaming industry.
Additionally, the zkEVM update for Polygon is imminent. Co-Founder of Polygon Labs Sandeep Nailwal recently tweeted about this improvement, stating that a mainnet launch date has already been set.
The zkEVM is an Ethereum-compatible scaling solution that would enhance the compatibility of current Ethereum-based smart contracts.