MATIC Rallies, Hitting Fresh 10-Month High – Market Updates Bitcoin News
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Matic Network, a Layer 2 scaling solution for Ethereum, has been on a tear this week, rallying over 100% and reaching a fresh 10-month high.
The Matic Network has been on a tear this week, rallying over 100% and reaching a fresh 10-month high of $0.039. The rally was sparked by the launch of its mainnet, as well as positive news from the Ethereum Foundation.
The Matic Network is a Layer 2 scaling solution for Ethereum that utilizes a sidechain to offload transactions from the main Ethereum blockchain. This helps to reduce congestion on the main Ethereum network and reduce transaction fees.
The Matic Network mainnet launched on May 18th and the project has received positive news from the Ethereum Foundation. The Foundation recently announced that it would be investing in the Matic Network to help develop the project further.
The Matic Network has also seen increased interest from institutional investors, with several large investors making investments in the project. This has helped to drive the price of Matic Network higher and it is now up over 100% from its April low.
The Matic Network rally has been helped by the recent Ethereum rally, as well as the positive news from the Ethereum Foundation. The project is also seeing increased interest from institutional investors, which is helping to drive the price higher.
At the current price, the Matic Network is up over 1000% from its all-time low of $0.003 in March 2020. The project has seen a meteoric rise in the past few months and it is likely that the price will continue to rise in the coming weeks and months.
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