Polygon Releases Semi-Annual Report, Highlights Plans for Second Half of 2022

On Wednesday, July 27th, Polygon, an Ethereum scaling solution, released a semi-annual report detailing its progress since the start of 2022. This blog also highlighted some of the network's plans for the second half of 2022.

Timeline of Polygon

Daimler South East Asia, part of the Mercedes Benz Group, introduced a blockchain-based data sharing network called Acentrik that is specifically designed for corporate users. The new project will let businesses purchase and sell data in a decentralized setting.

Clearpool, an uncollateralized stablecoin lending protocol, has launched on Polygon. The post Clearpool launches uncollateralized stablecoin lending on Polygon appeared first on The Block.

Polygon TVL and market cap have also gradually recovered following the trend of currency prices. The post Polygon (MATIC) price soared 233% in one month, what brought it out of the bear market?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion. Bitcoin [BTC] fell below the $20k mark and over the past couple of days, saw a minor bounce to the $21.4k mark.

Polygon prices are feeling the heat as MATIC retraced to $0.60 and after the bullish movements, now the coin is going in the opposite direction so let's have a closer look at today's latest cryptocurrency news. MATIC retraced and was seen to have plummeted by more than 20% in comparison to the high of $0.

The ongoing recovery rally in the MATIC/USDT pair initiated along with the formation of an ascending triangle pattern in the daily time frame chart. On July 13th, the coin price gave a bullish breakout from the $0.628 neckline resistance, leading to a 53.3% rally to the $1 resistance zone.

After its bullish shindig seen last week, Polygon (MATIC) price is now going the opposite direction as it continues to plunge to $0.60. MATIC is seen to have plummeted by more than 20% in comparison to its peak high of $0.97 as seen in the past couple of days.

Polygon price analysis reveals that the cryptocurrency has been following a bearish trend displaying further opportunities for reversal activities, with the price of MATIC/USD moving under the $0.82 mark. On July 26, 2022, the cost of Polygon experienced a flash crash and reached $0.74, but it further increased to $0.0.

The average transaction cost on Polygon (MATIC) declined 49% to $0.018 during the second quarter, according to statistics released on July 26. The post Polygon's Q2 data shows significant growth in the ecosystem appeared first on CryptoSlate.

Web3 giants Polygon and Orbs join hands with DeFi.Org to unleash new opportunities in the DeFi ecosystem. Four winning DeFi projects will bring unique features and use-cases to evolving DeFi landscape using Polygon and Orbs infrastructure.