Polygon, 10% rise in update expectations | CoinDesk JAPAN | Coin Desk Japan

Polygon (MATIC) rose 10% on Wednesday from a low of $0.67 a day earlier on hopes of its upcoming upgrade, Polygon 2.0.

According to CoinMarketCap, at the time of this writing, around $0.73. Volume increased 62% on the 11th, with $500 million traded in 24 hours.

Last month, Polygon unveiled plans for a 2.0 version aimed at building an “Internet value layer.” He also blogged about the transition to broader community governance of the protocol and reserve assets.

According to Coinalyze, Polygon’s open interest increased from $109 million to $160 million in 24 hours, up about 47%. This seems to have contributed to the price increase.

A high-profile event like an upgrade is an opportunity for investors and can cause volatile price movements. The Shanghai upgrade of the Ethereum blockchain is one such example, with prices rising 16% before the upgrade and returning to previous levels in less than a week.

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Polygon’s weekly trend (CoinDesk)
｜Original: MATIC Surges 10% as Polygon’s 2.0 Upgrade Draws Closer