API3 Unveils Enhanced Data Feed Service to Bolster TVL on Polygon zkEVM

API3, a blockchain oracle provider, has introduced a managed data feed service to support the growth of Total Value Locked (TVL) on Polygon zkEVM. This innovative push oracle, built around the Airnode first-party oracle node, eliminates intermediaries and provides direct access to real-world data, aiming to enhance the DeFi ecosystem and decentralized finance future.

Timeline of Api3, Polygon

The world of cryptocurrency is witnessing a surge in stablecoins and digital currencies pegged to stable assets, often fiat currencies. Num Finance, based in Argentina, has recently made headlines by launching a new stablecoin tied to the Colombian peso.

Following the launch of the Kresus Marketplace on August 17, Kresus unveiled plans to introduce a suite of additional tools that will redefine how users engage with the Polygon ecosystem.

Blockchain oracle provider API3 has announced that it is launching a new data feed service suite for Polygon zkEVM, designed from a new push oracle solution that's centered around first-party architecture. According to a press release shared to CryptoDaily by API3, the new solution allows DeFi protocols that currently use push oracles on other EVM (Ethereum Virtual Machine) chains to seamlessly migrate to Polygon zkEVM, hence functioning as both an onboarding and integration solution.

Polygon was one of the biggest movers in crypto markets on Tuesday, as the token fell by over 5% in today's session. The decline saw the token fall to its weakest point in two months, breaking out of a key support point in the process. Cardano was also in the red today.

Polygon (MATIC) is showcasing an impressive jump in its total whale transactions over the past week as every altcoin explores hidden triggers that can fuel price growth. For Polygon, data from crypto analytics platform IntoTheBlock (ITB) shows that whale transactions on Polygon have surged as high as 49.44% over the past week.

The MATIC price correction trend formed a new lower high at $0.891 and tumbled aggressively in the last five weeks. This downfall registered a 40% loss and evaporated the entire gain accumulated in the June-July rally.

Polygon (MATIC) price has slid below $0.55, its lowest since July 2022, as investors switch attention to newer L2 networks. The on-chain analysis outlines key indicators that could push MATIC's price deeper into the danger zone.

Polygon (MATIC) has entered a phase of consolidation, hovering just above the crucial $0.50 mark. The coin's recent retracement to June lows has garnered significant attention from bullish investors, even as the broader crypto market remains hounded by uncertainties and price plunges.

Amid the recent correction phase in the crypto market, the MATIC price witnessed a V-top reversal from the $0.8819 resistance. This reversal evaporated the entire recovery from the buyers' build during the June to mid-July recovery, heading towards the last swing low of $0.508.

Magic Eden has announced the launch of a $1 million fund dedicated to supporting creators building on the Polygon blockchain. The fund aims to bolster a blue-chip NFT presence on Polygon, a blockchain renowned for web3 gaming.