ICYMI: Polygon supporters expect $MATIC price to rise on the news of the EIP-1559 upgrade going live on mainnet MATIC PolygonNetwork
At the time of publication, MATIC was trading down 9.87% at $2.16 according to CoinMarketCap data. This might be partly due to the ongoing market declines that saw the Bitcoin price dip below $42K and the majority of the altcoin tokens losing value.gives MATIC a 30-day Bitcoin correlation at 0.85, which is quite high.Polygon receives the same fee-burning mechanism with the EIP-1559 upgrade, destroying MATIC tokens.
EIP-1559 eliminates the first-price auction as the primary mechanism for calculating fees. Instead, for transactions to be included in the next block, there is a distinct base charge and a priority fee to expedite processing. The base cost is then burned, which varies based on network congestion. The burning takes place in two stages, beginning on the Polygon network and ending on the Ethereum network.Despite the dip seen in the MATIC price, several technical and fundamental factors are lining up for a price increase in the medium term.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ethereum’s EIP-1559 upgrade launches on Polygon to burn MATICAccording to estimates by the Polygon team estimates, MATIC’s supply is likely to become deflationary once fee burning commences. Could this send $MATIC to the moon?
Read more »
MATIC Burn Begins as EIP-1559 Live on Polygon MainnetEIP-1559 went live on Polygon and is already burning MATIC tokens.
Read more »
Ethereum EIP-1559 upgrade launches on Polygon to burn MATICA deflationary supply of MATIC tokens and lower network spam could be the result of EIP-1559 being deployed on Polygon.
Read more »
Ethereum EIP-1559 upgrade launches on Polygon to burn MATICMATIC supply is likely to become deflationary once fee burning commences according to estimates by the Polygon team.
Read more »
Binance Will Support the Polygon (MATIC) Network Upgrade & Hard Fork | Binance SupportFellow Binancians, Binance will support the Polygon (MATIC) network upgrade and hard fork. The Polygon (MATIC) network upgrade and hard fork will take place at Polygon block height of 23,850,000 ...
Read more »
$14.6 Million in MATIC Bought by Major ETH Whales, Moved Away from BinanceRecent blockchain data shows that a major Ethereum whale has purchased a large amount of MATIC, while a bigger sum in this coin was transferred from Binance
Read more »