Polygon’s [MATIC] zkEVM has remained a topic of discussion for quite a few months now. This was because its public testnet went live in 2022.
Polygon ZK recently revealed that the first public testnet for Polygon zkEVM had “deprecated.” In the first testnet, 86,142 transactions were verified, and over 20,000 wallet addresses were registered.
In the first testnet, Polygon developers deliberately throttled performance to prioritize controlled testing. However, this changed with the release of the final testnet. The second and final testnet went live in December 2022, which came with several upgrades.
Included in the rollout were meaningful improvements to the throughput, latency, and efficiency of the prover.
While the zkEVM remained the center of attraction in the Polygon ecosystem, MATIC registered massive gains, which was in the investors’ favor.
As per CoinMarketCap, MATIC’s price increased by 20% in the last seven days. At the time of writing, it was trading at $0.9809, with a market capitalization of over $8.5 billion.
A promising month
Over the last 30 days, MATIC’s Market Value to Realized Value (MVRV) Ratio registered an uptick after a decline, which was a bullish indicator. Social dominance also spiked quite a few times, reflecting the token’s popularity in the crypto industry.
CryptoQuant’s data revealed that MATIC’s exchange reserve was declining, which was a positive signal as it suggested less selling pressure. However, MATIC’s network growth went down over the last few weeks, which was negative.
Source : ambcrypto
