The price of the Polygon (MATIC) token, the Ethereum-layer-2 solution, rose 26.8% in the last 24 hours and 68.4% in the week, according to data from CoinGecko.
\n\n
At the time of writing, the token trades around $0.96. The asset is up on the back of overall market optimism and a tweet by developer Mihailo Bjelic.
\n\n
When we started @0xPolygon, the Ethereum community embraced us. That empowered us to onboard 30k apps and 150M users and become a giant among scaling efforts and alt L1s.
We made a promise to stay committed and give back to Ethereum.
In 3 days, we are delivering on that. 🦄💫 pic.twitter.com/hRBN8DOVF7
— Mihailo Bjelic (@MihailoBjelic) July 17, 2022
ApeCoin (APE), linked to the BAYC ecosystem, also saw notable gains. Over the last 24 hours it rose 19.4%, to $6.05. This was preceded by the publication of the lite paper for the Otherside project. The metaverse will launch on Improbable’s MSquared network.
\n\n
\n\n
In May, the issuer of the largest-stablecoin by market capitalization, Tether, launched the asset on the Polygon network.
\n\n
In June, the operator of the stablecoin USD Coin (USDC) Circle added support for the blockchain.
\n\n
For what Polygon is, read in educational cards ForkLog.
\n\n
Follow ForkLog’s Bitcoin news on our Telegram — cryptocurrency news, prices and analysis.