Today it became known that Polygon (MATIC) will be available for trading on Coinbase Pro from 11.03.21. A popular crypto exchange adds a coin if liquidity conditions are met. Since the publication of this report, the token has skyrocketed by over 40%.
Coinbase announced today that it will be listing MATIC and adding the coin to its advanced Coinbase Pro trading platform. The result of this announcement was a massive price momentum that resulted in a 35% increase.
Polygon (MATIC) rushes up
The platform for solving the problem of Ethereum scaling and creating the infrastructure Matic Network (now Polygon) has achieved an increase of 35%. This momentum is driven by the listing on the largest cryptocurrency exchange, Coinbase pro. San Francisco-based cryptocurrency exchange Coinbase announced yesterday that MATIC will become available for trading on their super-advanced trading platform. At the same time, it was noted that initially it is necessary to comply with the conditions for ensuring liquidity. After listing, MATIC will trade in four different pairs with bitcoin (BTC), US dollar (USD), European currency (EUR) and pound (GBP).
⏳Trading begins: 11 March, 9 AM PT https://t.co/963YbVtSif
— Polygon (previously Matic) (@0xPolygon) March 9, 2021
The MATIC token is currently trading above $ 0.31. Well, its market capitalization as a result of this now reaches $ 1.575 billion.
The Matic network was recently renamed Polygon. The rebranding decision “is aligned with Polygon’s strategic development plan. The project is now focused as much as possible on creating a multi-chain system. Like Polkadot on Ethereum. ”
Polygon is trying to offer a turnkey solution to raise gas prices. And this is important because recently, network congestion has become a serious obstacle for the Ethereum blockchain. The project introduces Layer 2 sidechains to improve speed and reduce transaction costs.
Spring on the crypto market
The entire cryptocurrency market is witnessing a powerful bullish momentum developing over the past day. Over the past couple of days, the capitalization of the entire crypto market has grown by more than 6.5% and reaches $ 1.77 trillion.
The leading cryptocurrency – Bitcoin – continues to move to new heights. The mark of $ 56 thousand has already been reached. Coins BNB, DOT and ADA overtook the stablecoin, continuing to defend their leading positions.
At the same time, even if bitcoin starts rolling back now, this will further push the cost of altcoins. This is due to the fact that many of them are traded in pairs to BTC, where a decline in the bitcoin rate leads to an increase in demand for alternative currencies.