Planning to go long on BNB Chain [BNB]? Read this to get a grip on the situation
Tron enthusiasts could witness uncertainty as TRX sends out these mixed signals
Why Avalanche’s noteworthy NFT performance may do nothing for AVAX
Reasons FIL’s performance remains unimpressive despite these updates
New users going bananas for ApeCoin [APE]? This new development suggests…
Bitcoin could be at the brink of another sell-off as BTC reaches this four-week low
Bitcoin [BTC] buyers should know these caveats before opening a long position
Bitcoin (BTC) Price Prediction 2025-2030: A new ATH for BTC will rely on…
Bitcoin’s ongoing price trajectory may share this similarity with BTC’s 2018 cycle
Assessing Bitcoin’s [BTC] chances of a bullish comeback after…
Ethereum: Will Buterin’s latest roadmap have ETH climbing up the crypto ladder
Ethereum rallies past crucial resistance, can it push to $2,000 this month
Ethereum (ETH) Price Prediction 2025-2030: Calculating the odds of a 500% hike
Ethereum: The formation of this local top might mean this for ETH investors
Should Curve Finance [CRV] investors be thrilled by this whale attention
Published
on
By
Polygon [MATIC] in a recent announcement dated 7 September, stated that their operations would be greener after the Ethereum [ETH] Merge.
With ETH shifting to Proof of Stake (PoS), the Polygon team estimated that 99.91% of their carbon emissions will be reduced.
The drop in Polygon’s carbon emissions has driven the price of MATIC in an upward direction. The alt witnessed a 5.04% spike in price in the last 24 hours. The recent green announcement could be a reason for this bullish future.
According to the Twitter post, most of Polygon’s carbon emissions originated from the chain’s activity on the ETH layer. A major chunk of carbon emissions was due to the Proof of Work (PoW) aspect of Polygon. However, post Merge these emissions will be reduced dramatically.
Source: Twitter
This announcement has been well received online and the hype around polygon continues to grow. According to Lunar Crush, there has been a 9.1 % increase in social engagements with respect to Polygon.
But that’s not the only good news. There has been a significant spike in Polygon’s development activity indicating that more updates and features could be coming to the L2 chain. This might garner interest from investors looking to cash in on Polygon’s growth.
Along with the development activity, Polygon’s trading volume, which saw a lull period for some time, registered an uptick as well. This could also be taken as a positive sign for MATIC.
Both the aforementioned metrics and their respective trajectory could be seen in Santiment’s graph added below.
Source: Santiment
Even though the fundamentals seem to be in Polygon’s favor, its price still has a long way to go. The price has been trading between the 0.90 and 0.79 levels for quite some time now. The Relative Strength Index (RSI), at press time, was at 45.30, thereby, indicating that the momentum lay slightly with the sellers.
The Chaikin Money Flow (CMF) was way below zero at -0.19 showing that there’s not a lot of money flowing in Polygon’s direction.
Source: TradingView
Although Polygon has been making a lot of progress, readers are advised to be cautious. With the current state of the market, some volatility is expected in the short term.
SHIB could dethrone DOGE sooner than expected- Decoding ‘why’
Bitcoin [BTC] sweeps July lows; is a recovery around the corner
Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Can MATIC maintain the ongoing hype around Polygon’s latest updates
Polygon (MATIC) Price Prediction 2025-2030: Will the L2’s success push it beyond $20?
MATIC whales coming out to play, but how does this affect Polygon in the long haul
Can MATIC’s recent pump help it achieve new highs in November?
Instagram users will soon be able to mint and sell NFTs, thanks to Polygon
As MATIC sees strong selling pressure, here is where some relief can be found
Your email address will not be published.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
English
Russian
Vietnamese