{"id":542571,"date":"2023-07-13T17:00:29","date_gmt":"2023-07-13T17:00:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=542571"},"modified":"2023-07-13T13:08:58","modified_gmt":"2023-07-13T13:08:58","slug":"polygon-upgrade-proposal-pushes-price","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/matic\/polygon-upgrade-proposal-pushes-price\/","title":{"rendered":"Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy?"},"content":{"rendered":"<p class=\"p2\">Over the last day, the price of the Polygon native token, MATIC, has been on the rise, pushed upward by a single upgrade proposal. With the proposal gaining traction, will the price continue to rise, and is it too late to buy MATIC?<\/p>\n<h2 class=\"p2\">New Proposal To Change MATIC To POL<\/h2>\n<p class=\"p2\">In an interesting turn of events, Polygon founders have suggested an overhaul of the Layer-2 blockchain\u2019s native MATIC token in favor of a new token. The <a href=\"https:\/\/wp.decrypt.co\/wp-content\/uploads\/2023\/07\/pol-whitepaper.pdf\" rel=\"nofollow\">proposal<\/a> involves upgrading the current token in an effort to change and improve its capabilities, which transcends just its native chain to other chains.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/ltc\/litecoin-becomes-10th-largest-cryptocurrency\/?swcfpc=1\">Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run?<\/a><\/div>\n<p class=\"p2\">A new token name (POL) was proposed in lieu of MATIC, which much better reflects the Polygon name. The upgrade is centered on this POL token which would allow for better scalability as well as help to bring more rewards for Polygon\u2019s validators. The token would be operable across all Polygon networks, such as Polygon\u2019s main blockchain and Polygon\u2019s zkEVM, in addition to other supernets that run on Polygon.<\/p>\n<p class=\"p2\">Polygon says it plans to create three new layers of rewards for its validators, including transaction fees, protocol rewards, as well as other rewards to be made available to validate across multiple chains. Basically, the POL token will be to incentivize the validators who help to secure the network.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/5Ncj9ZzX\/\" alt=\"Polygon (MATIC) price chart from Tradingview.com\" width=\"2884\" height=\"1758\"><\/p>\n<pre style=\"text-align: center\">MATIC price up 5% in one day | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">MATICUSD on Tradingview.com<\/a><\/pre>\n<p class=\"p2\">The proposal by the founders is yet to pass as the Polygon community will still need to vote on it. However, if it does pass, the founders have proposed that all MATIC holders will be provided up to four years to exchange their tokens for POL.<\/p>\n<h2 class=\"p2\">Polygon Token Price Soars<\/h2>\n<p class=\"p2\">Following the announcement of this proposal, the price of Polygon\u2019s MATIC token has responded positively. The token which had been trading sideways for most of this week quickly saw a reversal and recorded over 5% in daily gains.<\/p>\n<p class=\"p2\">MATIC\u2019s gains so far have seen it emerge as the second-highest gainer on Coinmarketmap, following behind SingularityNET\u2019s AGIX. The price has now moved from trending below $0.73 to sitting firmly above $0.76 at the time of this writing.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-542572 aligncenter\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Screenshot-2023-07-13-at-13.44.22.png?resize=460%2C172\" alt=\"Polygon MATIC is second highest gainer\" width=\"460\" height=\"172\"><\/p>\n<pre style=\"text-align: center\">MATIC is second-highest gainer on Coinmarketcap | Source: <a href=\"https:\/\/coinmarketcap.com\/gainers-losers\/\" rel=\"nofollow\">Coinmarketcap<\/a><\/pre>\n<p class=\"p2\">However, despite the price increase, the price of MATIC still sits considerably lower than it did five months ago. Given that its price is sitting almost 50% lower than its February high of $1.5, this could present an opportunity to take advantage of MATIC\u2019s low price.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/bitcoin-news\/bitcoin-sharks-and-whales-go-on-2-15-billion-buying-spree-is-it-time-to-sell\/?swcfpc=1\">Bitcoin Sharks And Whales Go On $2.15 Billion Buying Spree, Is It Time To Sell?<\/a><\/div>\n<p class=\"p2\">If the proposal passes, then it could be bullish for the digital asset, as already demonstrated over the past day. And if the crypto market continues to recover, then MATIC could be looking toward breaking the $1 resistance in the near term.<\/p>\n<div class=\"disclaimer-shortcode\">\n<div class=\"disclaimer-shortcode\"><a href=\"https:\/\/twitter.com\/BestOwie\" rel=\"nofollow\">Follow Best Owie on Twitter<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Binance Academy, chart from TradingView.com<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Over the last day, the price of the Polygon native token, MATIC, has been on the rise, pushed upward by a single upgrade proposal. With the proposal gaining traction, will the price continue to rise, and is it too late to buy MATIC? New Proposal To Change MATIC To POL In an interesting turn of events, Polygon founders have suggested an overhaul of the Layer-2 blockchain\u2019s native MATIC token in favor of a new token. The proposal involves upgrading the current token in an effort to change and improve its capabilities, which transcends just its native chain to other chains. Related Reading: Litecoin Becomes 10th-Largest Cryptocurrency, But Is There Still Room To Run? A new token name (POL) was proposed in lieu of MATIC, which much better reflects the Polygon name. The upgrade is centered on this POL token which would allow for better scalability as well as help to bring more rewards for Polygon\u2019s validators. The token would be operable across all Polygon networks, such as Polygon\u2019s main blockchain and Polygon\u2019s zkEVM, in addition to other supernets that run on Polygon. Polygon says it plans to create three new layers of rewards for its validators, including transaction fees, protocol rewards, as well as other rewards to be made available to validate across multiple chains. Basically, the POL token will be to incentivize the validators who help to secure the network. MATIC price up 5% in one day | Source: MATICUSD on Tradingview.com The proposal by the founders is yet to pass as the Polygon community will still need to vote on it. However, if it does pass, the founders have proposed that all MATIC holders will be provided up to four years to exchange their tokens for POL. Polygon Token Price Soars Following the announcement of this proposal, the price of Polygon\u2019s MATIC token has responded positively. The token which had been trading sideways for most of this week quickly saw a reversal and recorded over 5% in daily gains. MATIC\u2019s gains so far have seen it emerge as the second-highest gainer on Coinmarketmap, following behind SingularityNET\u2019s AGIX. The price has now moved from trending below $0.73 to sitting firmly above $0.76 at the time of this writing. MATIC is second-highest gainer on Coinmarketcap | Source: Coinmarketcap However, despite the price increase, the price of MATIC still sits considerably lower than it did five months ago. Given that its price is sitting almost 50% lower than its February high of $1.5, this could present an opportunity to take advantage of MATIC\u2019s low price. Related Reading: Bitcoin Sharks And Whales Go On $2.15 Billion Buying Spree, Is It Time To Sell? If the proposal passes, then it could be bullish for the digital asset, as already demonstrated over the past day. And if the crypto market continues to recover, then MATIC could be looking toward breaking the $1 resistance in the near term. Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet\u2026 Featured image from Binance Academy, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":542574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[86487],"tags":[40670,86442,83584,88623,88624],"class_list":["post-542571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matic","tag-matic","tag-matic-price","tag-polygon","tag-polygon-founder","tag-polygon-upgrade"],"acf":[],"yoast_head":"\n<title>Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy?<\/title>\n<meta name=\"description\" content=\"Over the last day, the price of the Polygon native token, MATIC, has been on the rise, pushed upward by a single upgrade proposal. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/uniquehot.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy?","url":"http:\/\/uniquehot.com\/news\/matic\/polygon-upgrade-proposal-pushes-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/matic\/polygon-upgrade-proposal-pushes-price\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Polygon-MATIC.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Polygon-MATIC.png?fit=1600%2C900"},"articleSection":"MATIC","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["matic","matic price","polygon","polygon founder","polygon upgrade"],"dateCreated":"2023-07-13T17:00:29Z","datePublished":"2023-07-13T17:00:29Z","dateModified":"2023-07-13T17:00:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Polygon Upgrade Proposal Pushes Price Over 5%, Is It Too Late To Buy?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic\\\/polygon-upgrade-proposal-pushes-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic\\\/polygon-upgrade-proposal-pushes-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Polygon-MATIC.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/Polygon-MATIC.png?fit=1600%2C900\"},\"articleSection\":\"MATIC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"matic\",\"matic price\",\"polygon\",\"polygon founder\",\"polygon upgrade\"],\"dateCreated\":\"2023-07-13T17:00:29Z\",\"datePublished\":\"2023-07-13T17:00:29Z\",\"dateModified\":\"2023-07-13T17:00:29Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/07\/Polygon-MATIC.png?fit=1600%2C900","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/542571"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=542571"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/542571\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/542574"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=542571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=542571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=542571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}