Altcoins News
By Jean-Luc Maracon
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Polygon just did something wild. The blockchain network generated more daily transaction fees than Ethereum for the first time, marking a pretty significant shift in how crypto…
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On February 15, Polygon pulled in $3.5 million in fees while Ethereum managed $3.1 million, according to CryptoCompare data.
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Blockchain analyst Laura Shin thinks Polygon's partnerships did the trick. "The gaming platform deals and NFT marketplace integrations have been game-changers," Shin said in a…
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Ethereum co-founder Vitalik Buterin didn't ignore the news. He tweeted on February 15: "Competition keeps us sharp - Ethereum's upgrades will address these challenges head-on.
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Polygon co-founder Sandeep Nailwal was more direct about his network's success. "We've always focused on keeping costs low and throughput high," Nailwal told reporters on…
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The numbers tell the story. MATIC, Polygon's native token, jumped from $1.85 to $2.10 between February 1 and February 16.
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And there's more happening behind the scenes.
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Polygon's compatibility with Ethereum's Virtual Machine makes switching networks pretty straightforward for developers.
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OpenSea reported a 20% jump in Polygon transactions on February 17 compared to the previous week.
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Ethereum isn't sitting still though. Danny Ryan from the Ethereum Foundation said on February 16: "The Ethereum 2.
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The gaming sector is where Polygon really shines right now. Popular blockchain games like Aavegotchi and Decentraland have moved significant portions of their operations to…
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DeFi protocols are following suit. Curve Finance launched on Polygon in January and has already attracted over $200 million in total value locked.
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Market analysts think the trend will continue. "Polygon has momentum right now, and momentum in crypto tends to feed on itself," said blockchain researcher Maria Santos.
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Ethereum still dominates overall with roughly $45 billion in total value locked across all DeFi protocols, compared to Polygon's $5 billion.
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Major institutional players are starting to pay attention to Polygon's surge. JPMorgan's blockchain division mentioned Polygon in a February 18 research note as a "viable scaling…
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