MATIC Soars 40% Before Coinbase Pro Listing Tomorrow: Report

MATIC soars 40% before the announcement made by COinbase Pro that it will list the token on March 11 if liquidity conditions are met. The token skyrocketed after the report so let’s take a closer look at our latest altcoin news today.

Coinbase announced that it will list MATIC on its advanced platform Coinbase PRO and this resulted in a quick surge which resulted in a 35% gain. Ethereum scaling and infrastructure platform Matic Network which rebranded to Polygon has rallied by 35% and the surge was fueled by the upcoming Coinbase PRO listing. The crypto exchange announced that the MATIC token will be available for trading on its advanced trading platform on March 11 if the liquidity conditions are met. MATIC soars 40% and will be available for trading in BTC, USD, EUR, and GBP trading pairs.

$MATIC is now listed on @coinbasepro🔥🚀

⏳Trading begins: 11 March, 9 AM PT https://t.co/963YbVtSif

— Polygon (previously Matic) (@0xPolygon) March 9, 2021

The MATIC token is priced above $0.31 now while its market cap reached $1.575 billion. The network rebranded to Polygon and stated that its decision to rebrand will coincide with a “strategic shift that will see Polygon focus on creating a multichain system akin to Polkadot on Ethereum.” Polygon aims to offer a new solution to the rising gas fees which posed a serious problem to the ETH blockchain and will introduce a layer 2 sidechain to improve speed and to reduce costs.

The entire crypto market witnessed strong bullish momentum in the past day and the global crypto market cap is up by 6.5% in the past few days as it hit the $1.76 trillion market. BTC is still pushing towards an ATH and hit the $56K price point while BNB, DOT, and ADA flipped the stable coin as they fight over the leading positions.

As reported recently, The Layer-2 scaling solution for the ETH blockchain Matic Network rebranded its project to Polygon with plans to enhance its support for the ETH network to scale faster and to reduce the growing transaction costs. The Matic Network served as an open-source scaling solution for the ETH network and was backed by Coinbase and Binance. In a press release, the team announced the rebranding and said it will convert the name to Polygon. The name change is a part of a strategic shift that will see Polygon focus on creating a multichain system similar to what Polkadot is for Ethereum.