{"id":566108,"date":"2024-12-20T14:00:08","date_gmt":"2024-12-20T14:00:08","guid":{"rendered":"https:\/\/uniquehot.com\/?p=566108"},"modified":"2024-12-20T11:26:53","modified_gmt":"2024-12-20T11:26:53","slug":"matic-enters-correction-phase-bleeds-over-8-in-the-past-week","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/matic-enters-correction-phase-bleeds-over-8-in-the-past-week\/","title":{"rendered":"MATIC Enters Correction Phase, Bleeds 10% In The Past Week\u00a0"},"content":{"rendered":"

After the market entered a shortened bleeding phase, it has since rebounded to a stable foothold in preparation for a possibly bigger rally by year\u2019s end. However, some altcoins continued to trend downward with MATIC being one of them. According to <\/span>Coingecko<\/span><\/a>, the token is down almost 10% in the weekly timeframe.<\/span><\/p>\n

Although the bears have a slight chokehold on MATIC\u2019s market, there is some on-chain news that keeps the token afloat.\u00a0<\/span><\/p>\n

Related Reading: Woo-ing Buyers: Woo Network Token 75% Rally Sparks Investor Interest<\/a><\/div>\n

Update On Polygon\u2019s Chain Development Kit (CDK)\u00a0<\/b><\/h2>\n

Polygon recently posted on their <\/span>blog<\/span><\/a> about the newest addition to their CDK. <\/span>Gateway<\/span><\/a>, a blockchain infrastructure-focused team, integrated cdk-erigon into Polygon\u2019s CDK. According to the blog post, Erigon is a fast, high-efficiency node that will bring a better user experience for developers building on Polygon.\u00a0<\/span><\/p>\n

\n

Need for a Public RPC infrastructure in #defi<\/a>? We got you covered \ud83d\ude0e<\/p>\n

Our team is happy to announce that we have become the RPC provider infrastructure for Stellar @StellarOrg<\/a> \/Soroban @SorobanOfficial<\/a> Public RPC infrastructure. @gateway_eth<\/a> head of infrastructure,\u2026 pic.twitter.com\/c3jEMToFoP<\/a><\/p>\n

\u2014 Gateway FM (@gateway_eth) September 28, 2023<\/a><\/p><\/blockquote>\n

\u201c<\/span>Erigon is known for being memory-optimized, and so is cdk-erigon. Compared to the zkNode on Polygon zkEVM (of which Polygon CDK is a fork), cdk-erigon uses 10x less disk space with +150x faster sync times on mainnet,\u201d the Polygon team said in the blog post.\u00a0<\/span><\/p>\n

MATIC market cap currently at $7.424 billion. Chart: TradingView.com<\/a><\/pre>\n
This new addition will attract more developers to the platform. It can already be seen happening, with six projects testing the new Polygon CDK with the cdk-erigon integration.\u00a0<\/span><\/p>\n
Polygon also iterated that the system will be available as an RPC node for the protocol\u2019s zkEVM Mainnet Beta next year.<\/span><\/p>\n
Positive News Overall, But What Now?<\/b><\/h2>\n
As of writing, MATIC bulls are trying to reverse the current downward trend that the token is on. However, they might need to settle for a lower, more stable price point around $0.7550. This will provide investors and traders with a stable jump-off point for higher gains before the year\u2019s end.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
From MATIC To POL<\/strong><\/h3>\n
But MATIC bulls should consider the current phase of the network. Last September, the Polygon dev team <\/span>announced<\/span><\/a> the implementation of Polygon 2.0, an upgrade that would change the network\u2019s token from MATIC to POL. According to MATIC\u2019s Coingecko page, the upgrade from MATIC to POL has been initiated on the Ethereum mainnet.\u00a0<\/span><\/p>\n
Related Reading: Ethereum Whales Scoop Up $230 Million In ETH In One Week \u2013 Price Hike Next?<\/a><\/div>\n
Once the upgrade is in full swing, investors and traders will migrate their MATIC holdings to POL. This will inevitably harm the price as more and more investors will try to take value out of MATIC before it goes to the bin.\u00a0<\/span><\/p>\n
For now, investors and traders should be cautious of any major decision-making as any big investing decision made now will hurt gains in the long run.<\/span><\/p>\n
Featured image from Shutterstock<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
After the market entered a shortened bleeding phase, it has since rebounded to a stable foothold in preparation for a possibly bigger rally by year\u2019s end. However, some altcoins continued to trend downward with MATIC being one of them. According to Coingecko, the token is down almost 10% in the weekly timeframe. Although the bears have a slight chokehold on MATIC\u2019s market, there is some on-chain news that keeps the token afloat.\u00a0 Related Reading: Woo-ing Buyers: Woo Network Token 75% Rally Sparks Investor Interest Update On Polygon\u2019s Chain Development Kit (CDK)\u00a0 Polygon recently posted on their blog about the newest addition to their CDK. Gateway, a blockchain infrastructure-focused team, integrated cdk-erigon into Polygon\u2019s CDK. According to the blog post, Erigon is a fast, high-efficiency node that will bring a better user experience for developers building on Polygon.\u00a0 Need for a Public RPC infrastructure in #defi? We got you covered \ud83d\ude0e Our team is happy to announce that we have become the RPC provider infrastructure for Stellar @StellarOrg \/Soroban @SorobanOfficial Public RPC infrastructure. @gateway_eth head of infrastructure,\u2026 pic.twitter.com\/c3jEMToFoP \u2014 Gateway FM (@gateway_eth) September 28, 2023 \u201cErigon is known for being memory-optimized, and so is cdk-erigon. Compared to the zkNode on Polygon zkEVM (of which Polygon CDK is a fork), cdk-erigon uses 10x less disk space with +150x faster sync times on mainnet,\u201d the Polygon team said in the blog post.\u00a0 MATIC market cap currently at $7.424 billion. Chart: TradingView.com This new addition will attract more developers to the platform. It can already be seen happening, with six projects testing the new Polygon CDK with the cdk-erigon integration.\u00a0 Polygon also iterated that the system will be available as an RPC node for the protocol\u2019s zkEVM Mainnet Beta next year. Positive News Overall, But What Now? As of writing, MATIC bulls are trying to reverse the current downward trend that the token is on. However, they might need to settle for a lower, more stable price point around $0.7550. This will provide investors and traders with a stable jump-off point for higher gains before the year\u2019s end.\u00a0 From MATIC To POL But MATIC bulls should consider the current phase of the network. Last September, the Polygon dev team announced the implementation of Polygon 2.0, an upgrade that would change the network\u2019s token from MATIC to POL. According to MATIC\u2019s Coingecko page, the upgrade from MATIC to POL has been initiated on the Ethereum mainnet.\u00a0 Related Reading: Ethereum Whales Scoop Up $230 Million In ETH In One Week \u2013 Price Hike Next? Once the upgrade is in full swing, investors and traders will migrate their MATIC holdings to POL. This will inevitably harm the price as more and more investors will try to take value out of MATIC before it goes to the bin.\u00a0 For now, investors and traders should be cautious of any major decision-making as any big investing decision made now will hurt gains in the long run. Featured image from Shutterstock<\/p>\n","protected":false},"author":557,"featured_media":566155,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,86487],"tags":[134,11179,40670,83584,3505],"class_list":["post-566108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-matic","tag-altcoin","tag-gateway","tag-matic","tag-polygon","tag-price-analysis"],"acf":[],"yoast_head":"\nMATIC Enters Correction Phase, Bleeds 8% in The Past Week\u00a0<\/title>\n<meta name=\"description\" content=\"After the market entered a shortened bleeding phase, it has since rebounded to a stable foothold in preparation for a possibly bigger rally by year\u2019s end.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Encila","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/42cdb81dcbfceaa5f2e5c359239db36f?s=96&d=mm&r=g","caption":"Christian Encila"},"description":"They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/uniquehot.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"MATIC Enters Correction Phase, Bleeds 10% In The Past Week\u00a0","url":"http:\/\/uniquehot.com\/news\/matic-enters-correction-phase-bleeds-over-8-in-the-past-week\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/matic-enters-correction-phase-bleeds-over-8-in-the-past-week\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/a-135.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/12\/a-135.png?fit=366%2C208"},"articleSection":"MATIC","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","gateway","matic","polygon","price analysis"],"dateCreated":"2024-12-20T14:00:08Z","datePublished":"2024-12-20T14:00:08Z","dateModified":"2024-12-20T14:00:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"MATIC Enters Correction Phase, Bleeds 10% In The Past Week\\u00a0\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic-enters-correction-phase-bleeds-over-8-in-the-past-week\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic-enters-correction-phase-bleeds-over-8-in-the-past-week\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/a-135.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/12\\\/a-135.png?fit=366%2C208\"},\"articleSection\":\"MATIC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"gateway\",\"matic\",\"polygon\",\"price analysis\"],\"dateCreated\":\"2024-12-20T14:00:08Z\",\"datePublished\":\"2024-12-20T14:00:08Z\",\"dateModified\":\"2024-12-20T14:00:08Z\"}<\/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\/12\/a-135.png?fit=366%2C208","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/566108"}],"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\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=566108"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/566108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/566155"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=566108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=566108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=566108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}