Along with Terra’s LUNA, Polygon’s MATIC is another cryptocurrency that has recently gained traction. Despite the market drop over the last week, certain cryptocurrencies have performed exceptionally well. The MATIC price has risen another 12 percent in the last 24 hours to a new all-time high of $2.54.
The Ethereum Layer-2 scaling solution has lately gained widespread adoption, as evidenced by MATIC’s resistance to the broader crypto market slump.
The MATIC price has increased by 25% in the last seven days, bucking the market trend. This latest MATIC performance occurs against the backdrop of some of Polygon’s recent important developments.
December 2021 Key Polygon Developments
More so, Polygon paid half a billion dollars for crypto firm Mir earlier last month in order to incorporate zk-Rollups technology on their end.
Also, Polygon will enlist the Mir’s support in executing its ground-breaking technology, allowing Polygon Zero, a highly scalable, Ethereum-compatible ZK Rollup, to be built. Polygon said the following in their blog post:
“ZK scaling represents the future of Ethereum, but scalable, EVM-compatible ZK Rollups don’t exist yet. The missing piece is efficient recursive proofs, as recursion allows us to parallelize proof generation for much better performance. Unfortunately, the existing recursive proof systems supported by Ethereum are inefficient and slow.”