Polygon's zkEVM, StarkNet, and zkSync Era witness increasing interest, driven by token AirDrop buzz and upcoming Ethereum upgrade.
. Danksharding, a key component of Cancun, introduces data blobs that allow rollups to send information at reduced costs.
By leveraging this feature, rollups can offer more affordable transactions, saving users from high fees associated with data storage and processing. This enhancement improves the overall scalability and cost-effectiveness of the zkEVM ecosystem.While Polygon holds a favorable position in the zkEVM space, there is still room for growth for its native token. MATIC experienced a significant price drop of 40% between 5 – 10 June. Since then, the token’s price has fluctuated between $0.677 and $0.
Examining the Relative Strength Index revealed a value of 42.50, indicating a slight advantage for buyers in terms of momentum. Additionally, the Chaikin Money Flow sat at 0.04, signifying positive cash flow into the MATIC market. The CMF is a technical indicator that measures the volume of money flowing into or out of an asset. A positive CMF suggests buying pressure and increased accumulation of the asset.The sharp decline in MATIC’s price may be attributed to a decrease in network growth, suggesting waning interest from new addresses. Moreover, the declining trading volume on Polygon raised concerns for MATIC holders expecting a rebound in value.
Market participants closely monitor network growth and trading volume as key indicators of market health and investor confidence.
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