Polygon token jumped in price by almost 25% in a day

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The rate of the native token of the Ethereum second-level solution Polygon (MATIC) increased by 24.9% in 24 hours, according to CoinGecko.

The asset is trading around $0.5. This is approximately 82% below the December 2021 high of $2.88.

The sharp daily growth occurred against the backdrop of the launch by the team of the project of a new system for identifying DAO participants – Polygon ID.

The solution uses zero-knowledge proof technology, which avoids the transfer of personal data.

Santiment analysts noted that over the past six weeks, the total assets of MATIC whales (users with balances from 10,000 to 10 million tokens) have grown by 8.7%.

The Polygon team also reported that the network has achieved carbon neutrality. In partnership with KlimaDAO, the project has acquired and redeemed $400,000 worth of tokenized carbon credits.

Recall that in May, the issuer of the largest USDT stablecoin by capitalization, Tether, launched an asset in the Polygon network.

In June, stablecoin operator USD Coin (USDC) Circle added blockchain support.

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Source: Cryptocurrency

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