Key Highlights:
๐ Polygon’s Developmental Leaps: The Polygon network advances with POL contracts activation on the Goerli testnet, showcasing a promising digital frontier expansion.
๐ MATIC’s Price Dance: From a commendable surge to the occasional dip, MATICโs price fluctuations capture the very essence of the crypto rollercoaster ride.
๐ The Kanani Departure: Jaynti Kanani, a pivotal name since Polygon’s inception, takes a step back, leading to speculations and a watchful eye on Polygon 2.0’s transition.
Polygon’s Recent Strides: The Polygon [MATIC] network isn’t just sitting idle; it’s making some impressive leaps. With the recent activation of POL contracts on the Goerli testnet, as Polygon Labs reveals through their tweets, we’re seeing a digital frontier expanding. ๐
Today, as a result of community consultations, POL contracts will be live on Goerli testnet.
— Polygon Devs ๐ DevX Global Tour (@0xPolygonDevs) October 4, 2023
A major step towards bringing Polygon 2.0 to life.
Based on the communityโs feedback during the PIP governance process, PIP-24: Change EIP-1559 Policy & PIP-25: Adjust POL Total Supply,โฆ pic.twitter.com/li8OF0o3jC
Community’s Voice: Based on feedback from the ever-vigilant community, two proposals have sprouted on the Goerli testnet. These proposals, namely PIP-24: Tweaking the EIP-1559 Policy and PIP-25: Adjusting the Total POL Supply, indicate an evolving ecosystem that values its users’ insights. ๐ฃ๏ธ
Reimagining MATIC: With POL showcasing the next steps for MATIC, there’s a fresh perspective on the horizon. Think of it as the network’s evolution, ushering in a generation of Layer 2 chains harnessing zero-knowledge tech. This will empower capabilities like staking and decentralized governance, which is pretty cool, right? ๐
๐ค #Bitcoin had its largest volume spike Monday, hours after crossing above $28.4K for the first time since mid-August. And following suit, traders just created a similar volume spike for #XRPLedger & #Polygon after their surges. #FOMO is high right now. https://t.co/YXIxF618Cg pic.twitter.com/5n52qnEig1
— Santiment (@santimentfeed) October 5, 2023
Volume Speaks Volumes: The price wasn’t the only thing escalating. MATICโs trading volume rocketed right alongside. Seeing such dynamism is typically a thumbs-up sign in the crypto world. But just as everything that goes up must come down, MATIC’s volume saw a 26.10% dip. What’s up with that? ๐
Big Names Moving On: All good things come to an end, and for Jaynti Kanani, it was time for a new beginning. After shaping Polygon since 2017, Kanani decided to turn a new leaf, revealing that he’s been distant from the project for about a year. He’s the third co-founder to make an exit this year. This move, especially during the transition to Polygon 2.0, has certainly raised eyebrows. But then, change is the only constant, right? ๐
After kickstarting Polygon in 2017, around 6 months back, I decided to step back from the day-to-day grind.
— Jaynti Kanani (JD) (@jdkanani) October 4, 2023
I'm more confident in Polygon's bright future and passionate community. I'll be focusing on new adventures while still cheering and contributing to Polygon from theโฆ
In The Spotlight – MATICโs Bullish Streak: Polygon’s native token made waves, boasting a near 10% surge recently. Although at the moment of writing, it’s down by 5.30%, settling at $0.5581. So, while the surge is commendable, there’s always a fluctuation in the crypto dance. ๐
Volume Analysis: Just as MATICโs price soared, so did its trading volume. Thanks to Santiment, we know that Polygon, along with big names like Bitcoin [BTC] and XRP, experienced a notable volume uptick. ๐ข
The Kanani Factor: Changes at the top always shake things up. With Jaynti Kanani stepping away from day-to-day operations, some turbulence was expected. After all, he’s been instrumental since Polygon’s inception in 2017. With him moving on to other ventures and Polygon transitioning to 2.0, the community’s left with bated breath, wondering what’s next. ๐
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Sergio Richi
Editor, Logll Tech News