Matic Network, a crypto project backed by the crypto exchange giant Coinbase, surged up to 76 percent in 24 hours. The project is aimed at scaling ethereum and it traded at $0.31 with a market cap of $66.8 million so we read more about this amazing project in today’s altcoin news.
The daily trading volume of the Matic Network is over $250 million which means that the daily volume of some other larger projects such as Monero, IOTA and Cardano is exceeded. Since the beginning of May, the coin increased by more than 600 percent.
The main goal of the Matic Network is basically a blockchain solution or a scalability solution. The startup provides an off-chain scaling toll of the Ethereum network but for other existing networks as well. It aims to ensure a better user experience regarding the decentralized applications. The ecosystem incorporates a digital wallet, SDKs, payment APIs, and ID solutions. There are other products that are implemented in the project as well that will enable developers to build and shift dapps developed on other platforms such as Ethereum.
The Matic network will use a modified version of Plasma but with a Proof-of-Stake based side chains. The project is still in its early ages. It was launched on Binance less than a month ago which means that Binance is responsible for more than 98% of the token’s trading volume. Matic is one of the Binance Launchpad coins that expressed some impressive returns and benefits.
Matic revealed that it has joined the Binance Info transparency initiative that will help investors to always be updated about the progress of the project. The community now hopes that the Matic network will be listed on Coinbase since the team announced they secured funding from the Coinbase Ventures.
As reported in the latest cryptocurrency news, Matic will integrate another Coinbase-backed crypto the USD Coin on its sidechains. Coinbase, on the other hand, will let its wallet users use the Matic network in order to transfer and trade cryptocurrencies. Investors believe that Coinbase should list the token but some members of the community believe that the project won’t benefit a whole lot from the listing.
IBM And Stellar Partnership In Jeopardy Amid Exec Disruption
South American Online Marketplace Works With Facebook On Its Crypto Project
Gold-Backed Russian Crypto Could Crush The USD Standard
“As for mutual settlements, we will consider, of course, a proposal on a cryptocurrency that is tied to gold. But, in my opinion, it is more important to develop settlements in national currencies.”Nabuilna explained that CBR is still unsure whether to use cryptocurrencies and how they could be launch into Russia’s monetary system but the idea of a zero-volatility digital asset is inviting:
“The CBR, in principle, is opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies fulfill the function of monetary surrogates. We have prepared an analytical report and will soon present it which will analyze what cryptocurrency is, what is happening in the world, what approaches different countries to have, and what regulation is envisaged. And, if the phenomenon of cryptocurrency in any perspective may cause risks to our macroeconomic stability, we need to understand that.”As noted in one of the best cryptocurrency sites, Russia is under significant economic sanction from the United States.
Crypto Trading In The US Becomes A Nightmare, What’s The Solution?
Join us on Facebook
- SEC Commissioner: BTC ETF Will Be Approved When The Industry Matures
- Europol Aims To Improve Blockchain And Crypto Knowledge
- Storecoin’s Third Milestone Token Offering Launching, Ari Paul and BlockTower Capital are Early Backers
- New Banknotes Help Venezuela Set A Bitcoin Trading Record
- Bitmain Sues Three Former Employees Who Founded Rival Mining Pool
UPCOMING EVENTS RECOMMEND BY DC FORECASTS
Ethereum News3 days ago
Ethereum Will Skyrocket By 70% Against BTC: Analyst Prediction
Bitcoin News3 days ago
Bitcoin Tax Evasion Will Be Criminally Punishable: IRS Warns
Bitcoin News3 days ago
Weiss Ratings Upgrades Bitcoin From B- To B: Report
Altcoin News4 days ago
Bitcoin Wraps Around $8,200: Consolidation Could Happen Soon
Altcoin News2 days ago
Hottest Cryptocurrency Is Up 330% This Year (And It’s Not Bitcoin)
Bitcoin News4 days ago
Call Center Scam From India Steals $1.7 Million In Bitcoin
Altcoin News3 days ago
Crypterium Launches A Global Crypto Payments Card
Altcoin News3 days ago
Bitcoin’s Worth Goes Beyond $8,500, Most Of The Altcoins See Loses