{"id":636001,"date":"2024-08-16T16:00:33","date_gmt":"2024-08-16T16:00:33","guid":{"rendered":"https:\/\/uniquehot.com\/?p=636001"},"modified":"2024-08-16T12:27:10","modified_gmt":"2024-08-16T12:27:10","slug":"matic-rebranding-polygon-recover-after-sinking-65","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/matic\/matic-rebranding-polygon-recover-after-sinking-65\/","title":{"rendered":"MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%?"},"content":{"rendered":"

MATIC, the native token of the Ethereum sidechain Polygon, has had it rough in the past five months. After soaring above $1.2 in March, the token has been in freefall, dumping over 65%. For now, MATIC faces strong rejection at $0.45 and continues to distribute, which is evident in the daily chart.<\/span><\/p>\n

The lull across the crypto scene and shrinking activity in DeFi means Polygon is on the receiving end. Despite these market-related challenges, there is a silver lining for MATIC holders.<\/span><\/p>\n

The Rebranding Of MATIC To Polygon<\/span><\/h2>\n

Polygon is evolving, and after the rebranding from the Matic Network, MATIC, the native token, will be relaunched as POL. This highly anticipated <\/span>upgrade<\/span><\/a> is set for September 4, 2024. <\/span><\/p>\n

Related Reading: Crypto Analyst Unveils Six \u2018Super-Cycle\u2019 Tokens Primed For Massive 1000x Price Explosion<\/a><\/div>\n

The rebranding will be a pivotal shift for Polygon, making a stage in which the platform introduces new utilities to POL as they look to grow and further innovate, primarily by scaling Ethereum<\/a>. <\/span><\/p>\n

In a post on X, Polygon said various changes would accompany the rebranding. If anything, the team plans to overhaul the current utility in MATIC and repurpose it to meet the needs of their grand plans from now on. After September 4, Polygon said POL would serve as an autonomous fuel, a change that could also support prices.<\/span><\/p>\n

Under the new arrangement, POL will be crucial for ensuring Polygon is secure. The token will be distributed to validators as a reward for committing resources. The steady stream of rewards, Polygon said, would incentivize validators to commit even more resources. <\/span><\/p>\n

At the same time, a portion of POL will be channeled to the Community Treasury. The funds will be used to super-charge development and research, with some allocated to the ecosystem initiatives. <\/span><\/p>\n

The Grants Program And Polygon 2.0: Will It Revive Demand?<\/span><\/h2>\n

Polygon has activated the Community Grants program, dedicating 100 million POL per year for the next decade to spur development in the ecosystem. The objective is to catalyze growth and ensure the platform is secure.<\/span><\/p>\n

Related Reading: Is Dogecoin (DOGE) Headed For A 40% Slide? This Analyst Thinks So<\/a><\/div>\n

The effort is part of the Polygon 2.0 roadmap, which aims to scale Ethereum further using zero-knowledge technology. Platforms launching as Ethereum layer-2s using the Polygon development stack will also receive liquidity from a unified source. At the same time, they will be interoperable with other layer-2s using the same stack since they are connected via the Aggregation Layer.<\/span><\/p>\n

\"MATIC<\/a>
MATIC price trending downward on the daily chart | Source: MATICUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n

Despite all these efforts, only time will tell whether MATIC will inch higher. The local resistance is at $0.45. If broken, the token must be more than 2X before reclaiming March highs.<\/span><\/p>\n

Feature image from iStock, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"

MATIC, the native token of the Ethereum sidechain Polygon, has had it rough in the past five months. After soaring above $1.2 in March, the token has been in freefall, dumping over 65%. For now, MATIC faces strong rejection at $0.45 and continues to distribute, which is evident in the daily chart. The lull across the crypto scene and shrinking activity in DeFi means Polygon is on the receiving end. Despite these market-related challenges, there is a silver lining for MATIC holders. The Rebranding Of MATIC To Polygon Polygon is evolving, and after the rebranding from the Matic Network, MATIC, the native token, will be relaunched as POL. This highly anticipated upgrade is set for September 4, 2024. Related Reading: Crypto Analyst Unveils Six \u2018Super-Cycle\u2019 Tokens Primed For Massive 1000x Price Explosion The rebranding will be a pivotal shift for Polygon, making a stage in which the platform introduces new utilities to POL as they look to grow and further innovate, primarily by scaling Ethereum. In a post on X, Polygon said various changes would accompany the rebranding. If anything, the team plans to overhaul the current utility in MATIC and repurpose it to meet the needs of their grand plans from now on. After September 4, Polygon said POL would serve as an autonomous fuel, a change that could also support prices. Under the new arrangement, POL will be crucial for ensuring Polygon is secure. The token will be distributed to validators as a reward for committing resources. The steady stream of rewards, Polygon said, would incentivize validators to commit even more resources. At the same time, a portion of POL will be channeled to the Community Treasury. The funds will be used to super-charge development and research, with some allocated to the ecosystem initiatives. The Grants Program And Polygon 2.0: Will It Revive Demand? Polygon has activated the Community Grants program, dedicating 100 million POL per year for the next decade to spur development in the ecosystem. The objective is to catalyze growth and ensure the platform is secure. Related Reading: Is Dogecoin (DOGE) Headed For A 40% Slide? This Analyst Thinks So The effort is part of the Polygon 2.0 roadmap, which aims to scale Ethereum further using zero-knowledge technology. Platforms launching as Ethereum layer-2s using the Polygon development stack will also receive liquidity from a unified source. At the same time, they will be interoperable with other layer-2s using the same stack since they are connected via the Aggregation Layer. Despite all these efforts, only time will tell whether MATIC will inch higher. The local resistance is at $0.45. If broken, the token must be more than 2X before reclaiming March highs. Feature image from iStock, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":557533,"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":[92903,40670,86442,79614,89389,83584,89390,86440],"class_list":["post-636001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-matic","tag-agglayer","tag-matic","tag-matic-price","tag-maticusdt","tag-pol","tag-polygon","tag-polygon-2-0","tag-polygon-price"],"acf":[],"yoast_head":"\nMATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%?<\/title>\n<meta name=\"description\" content=\"MATIC is rebranding to POL is early September. 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His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/uniquehot.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%?","url":"http:\/\/uniquehot.com\/news\/matic\/matic-rebranding-polygon-recover-after-sinking-65\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/matic\/matic-rebranding-polygon-recover-after-sinking-65\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/MATIC-price-polygon.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/MATIC-price-polygon.jpeg?fit=1365%2C800"},"articleSection":"MATIC","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["agglayer","matic","matic price","maticusdt","pol","polygon","polygon 2.0","polygon price"],"dateCreated":"2024-08-16T16:00:33Z","datePublished":"2024-08-16T16:00:33Z","dateModified":"2024-08-16T16:00:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"MATIC Set For Rebranding In Early September: Will Polygon Prices Recover After Sinking 65%?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic\\\/matic-rebranding-polygon-recover-after-sinking-65\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/matic\\\/matic-rebranding-polygon-recover-after-sinking-65\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/MATIC-price-polygon.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2023\\\/10\\\/MATIC-price-polygon.jpeg?fit=1365%2C800\"},\"articleSection\":\"MATIC\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"agglayer\",\"matic\",\"matic price\",\"maticusdt\",\"pol\",\"polygon\",\"polygon 2.0\",\"polygon price\"],\"dateCreated\":\"2024-08-16T16:00:33Z\",\"datePublished\":\"2024-08-16T16:00:33Z\",\"dateModified\":\"2024-08-16T16:00:33Z\"}<\/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\/10\/MATIC-price-polygon.jpeg?fit=1365%2C800","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/636001"}],"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\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=636001"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/636001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/557533"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=636001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=636001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=636001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}