• Polygon (MATIC) has seen a price gain of 11.31% in 24 hours, accompanied by market cap and trading volume increases of 11.46% and 18.39%, respectively.
• Tom Dunleavy, a senior research analyst at Messari, says the protocol is on the path to success with its zkEVM technology for security, decentralization, and scalability, increasing developers from 200 to 1000 over 2018-2020.
• The number of addresses on the network has increased by 90% quarter over quarter and 90% of MATIC tokens distributed are unlocked.

Polygon Price Soars: A Closer Look

Polygon (MATIC) is soaring today, with a price gain of 11.31% in 24 hours. Its market cap and trading volume have also spiked by 11.46% and 18.39%, respectively, showing increased utility and activity with the token.

Path To Success

The gains are not surprising given that Polygon has been focused on developing its ecosystem. Tom Dunleavy, a senior research analyst at Messari, says the protocol is on the path to success.

zkEVM Technology

The researcher outlined some of the achievements of Polygon recently – one being their zkEVM (zero-knowledge Ethereum Virtual Machine). The purpose of this solution is to position the network to achieve security, decentralization, and scalability.

Increased Number Of Addresses And Developers

Another notable achievement mentioned by Dunleavy is an increased number of addresses on the network – up 90% quarter over quarter – as well as an increase in developers from 200 in 2018 to more than 1,000.

Conclusion

. With these developments in motion, Polygon may be set for further growth in both price and adoption.