{"id":26001,"date":"2024-02-05T21:55:53","date_gmt":"2024-02-05T21:55:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/polygon-matic-hovers-near-key-level-ahead-of-etrog-upgrade\/"},"modified":"2024-02-05T21:55:53","modified_gmt":"2024-02-05T21:55:53","slug":"polygon-matic-hovers-near-key-level-ahead-of-etrog-upgrade","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/polygon-matic-hovers-near-key-level-ahead-of-etrog-upgrade\/","title":{"rendered":"Polygon (MATIC) hovers near key level ahead of Etrog upgrade"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1658475494882-990d2ee7-1c36-4b7e-aaa3-d69aaf62d6ad-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1658475494882-990d2ee7-1c36-4b7e-aaa3-d69aaf62d6ad-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1658475494882-990d2ee7-1c36-4b7e-aaa3-d69aaf62d6ad-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/07\/1658475494882-990d2ee7-1c36-4b7e-aaa3-d69aaf62d6ad-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Polygon (MATIC) traded near $0.78 on Monday as the Ethereum scaling solution moved closer to its Etrog upgrade.<\/li>\n<li dir=\"ltr\">MATIC could breakout to above $1 if bulls hold key level, or likely retest the important support zone at $0.5.<\/li>\n<\/ul>\n<p dir=\"ltr\"><a href=\"https:\/\/coinjournal.net\/polygon\/\">Polygon (MATIC)<\/a> price was trading near $0.78 on Monday as the Ethereum scaling solution moved closer to its Etrog mainnet upgrade.<\/p>\n<p dir=\"ltr\">The altcoin, which rose to above $0.79 amid a 20% spike in trading volume, was among the few <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/\">cryptocurrencies<\/a> in the top 20 by market cap to hover flat as Bitcoin retreated below $43k to mirror US stock declines.<\/p>\n<h2 dir=\"ltr\">MATIC outlook as Polygon eyes Etrog upgrade<\/h2>\n<p dir=\"ltr\">Last month, Polygon Foundation announced a 10-day countdown to the activation of the Etrog upgrade on mainnet.\u00a0<\/p>\n<p dir=\"ltr\">As noted in a blog post, the upgrade is for Polygon zkEVM and is set to bring support for pre-compiled smart contracts. The release is expected to transform the zkEVM closer to a Type 2 ZK-EVM, \u2013 that is, an EVM-equivalent ZK rollup.<\/p>\n<p dir=\"ltr\">With the upgrade, developers can deploy their code on Polygon zkEVM just as they would on Ethereum. According to the Polygon Foundation, devs only need to \u201ccopy-paste and go, no modifications necessary.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The next upgrade for Polygon zkEVM will, effectively, make the network a Type 2 ZK-EVM. What does that mean for developers? It means that you can deploy your code on Polygon zkEVM exactly as it is on Ethereum\u2014just copy-paste and go, no modifications necessary.<\/p>\n<p>The 10-day\u2026 <a href=\"https:\/\/t.co\/GThNxj7V6F\">pic.twitter.com\/GThNxj7V6F<\/a><\/p>\n<p>\u2014 Polygon Foundation (@0xPolygonFdn) <a href=\"https:\/\/twitter.com\/0xPolygonFdn\/status\/1751368915928645812?ref_src=twsrc%5Etfw\">January 27, 2024<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">The 10-day countdown for the upgrade means the expected mainnet release is on Tuesday, February 6.<\/p>\n<p dir=\"ltr\">Ahead of this milestone, MATIC price rose from an intraday low of $0.76 to $0.79 before retesting the support area amid today\u2019s broader crypto lull.<\/p>\n<p dir=\"ltr\">If a breakout materializes in coming days and weeks, the Polygon token could target an extended run above <a href=\"https:\/\/coinjournal.net\/news\/polygon-still-eyeing-breakout-despite-christmas-lull-heres-why\/\">the psychological $1 level<\/a>. A breakdown however could push MATIC\/USD to the 2023 support base around $0.5.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/polygon-matic-hovers-near-key-level-ahead-of-etrog-upgrade\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Polygon (MATIC) traded near $0.78 on Monday as the Ethereum scaling solution moved closer to its Etrog upgrade. MATIC could breakout to above $1 if bulls hold key level, or likely retest the important support zone at $0.5. Polygon (MATIC) price was trading [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":26002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26001"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=26001"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/26001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/26002"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=26001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=26001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=26001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}