{"id":285260,"date":"2023-01-18T19:00:01","date_gmt":"2023-01-18T13:30:01","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=285260"},"modified":"2023-01-18T13:08:43","modified_gmt":"2023-01-18T07:38:43","slug":"amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/","title":{"rendered":"Amidst Polygon&#8217;s hardfork and increased profit-taking, which way will MATIC go?"},"content":{"rendered":"<ul>\n<li><em>Polygon completed its hard fork upgrade on 17 January.<\/em><\/li>\n<li><em>New demand for MATIC has climbed significantly since the year began.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Polygon [MATIC], the sidechain connected to the main Ethereum [ETH] blockchain, completed a hard fork to its proof-of-stake (PoS) network on 17 January. The purpose of the hard fork, as stated in a 12 January <a href=\"https:\/\/polygon.technology\/blog\/hardfork-incoming-upgrading-polygon-pos-chain-to-boost-performance\" target=\"_blank\" rel=\"noopener\">blog post<\/a>, was to make the Polygon network more efficient by introducing two key changes.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The Polygon PoS network has been upgraded \ud83d\udc4f\ud83d\udc4f\ud83d\udc4f<\/p>\n<p>To learn more about the upgrade, check out \ud83d\udc47<a href=\"https:\/\/t.co\/RaBWDjEGrI\">https:\/\/t.co\/RaBWDjEGrI<\/a> <a href=\"https:\/\/t.co\/WiDOdJWzaK\">pic.twitter.com\/WiDOdJWzaK<\/a><\/p>\n<p>&mdash; Polygon | POL (@0xPolygon) <a href=\"https:\/\/twitter.com\/0xPolygon\/status\/1615370181630652417?ref_src=twsrc%5Etfw\">January 17, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<hr \/>\n<p style=\"text-align: center;\">How many are <a href=\"http:\/\/ambcrypto.com\/convert\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">1,10,100 MATIC worth today<\/a>?<\/p>\n<hr \/>\n<h3>Changes included in the Polygon hardfork<\/h3>\n<p><span style=\"font-weight: 400;\">First, the hard fork introduced an adjustment as to how gas fees were determined on the network. With the hard fork in place, reportedly:<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\"> \u201cThe rate of change for the base gas fee will fall to 6.25% (100\/16) from the current 12.5% (100\/8) in an effort to smooth severe fluctuations in gas prices.\u201d<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Second, the hard fork addressed chain reorganization, to reduce the time taken to complete a data block on the chain. This would resolve the challenge of reorgs, which occur when validator nodes receive conflicting information and create a temporary split in the blockchain. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">This usually complicated the confirmation of the validity of transactions, as the nodes must reconcile which version of the blockchain is accurate.<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\">Realistic or not, here\u2019s\u00a0<a href=\"http:\/\/ambcrypto.com\/calculator\/marketcap\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">MATIC\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n<hr \/>\n<h3><b>MATIC amid the latest rally<\/b><\/h3>\n<p><span style=\"font-weight: 400;\">Exchanging hands at $1.01 at press time, MATIC\u2019s price has rallied by 33% since the year started, data from <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\"> showed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the overall cryptocurrency market has grown, MATIC has experienced a corresponding increase in network activity since 1 January. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Besides its close correlation to leading coin Bitcoin [BTC], the recent surge in MATIC\u2019s value was attributable to the influx of new demand for the altcoin and the increase in the count of active addresses transacting it, data from <a href=\"https:\/\/app.santiment.net\/charts\/elaFpfXB__sCl\" target=\"_blank\" rel=\"noopener\">Santiment<\/a> revealed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the on-chain analytics platform, since the trading year commenced, the count of daily active addresses trading MATIC has grown by 52%. Likewise, the demand for MATIC has risen by 47% within the period under consideration, as the count of new MATIC addresses created daily has embarked on an uptrend.<\/span><\/p>\n<figure id=\"attachment_285266\" aria-describedby=\"caption-attachment-285266\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023.png\"><img decoding=\"async\" class=\"wp-image-285266 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.27.05-18-Jan-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-285266\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">A review of MATIC\u2019s exchange activity revealed an uptick in profit-taking by the altcoin holders. According to Santiment, since 5 January, MATIC\u2019s supply on exchanges has climbed by 4%. Conversely, its supply outside of known exchanges has dropped by 0.32% since then.\u00a0<\/span><\/p>\n<figure id=\"attachment_285267\" aria-describedby=\"caption-attachment-285267\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023.png\"><img decoding=\"async\" class=\"wp-image-285267 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/Polygon-on-Ethereum-MATIC-07.26.57-18-Jan-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-285267\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">An increase in the supply of cryptocurrency on exchanges typically indicated that more of the currency was being offered for sale in the open market. Typically, such increments can lead to a decrease in the price of the crypto asset if demand for it does not also increase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, in MATIC\u2019s case, the demand was rallying at press time, so last week&#8217;s incessant profit-taking left no impact on its price. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon completed its hard fork upgrade on 17 January. New demand for MATIC has climbed significantly since the year began. Polygon [MATIC], the sidechain connected to the main Ethereum [ETH] blockchain, completed a hard fork to its proof-of-stake (PoS) network on 17 January. The purpose of the hard fork, as stated in a 12 January<a href=\"https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/\">Continue reading <span class=\"sr-only\">&#8220;Amidst Polygon&#8217;s hardfork and increased profit-taking, which way will MATIC go?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":285269,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[1266],"class_list":["post-285260","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-matic"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Amidst Polygon&#039;s hardfork and increased profit-taking, which way will MATIC go? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Polygon, the sidechain connected to the main Ethereum blockchain, completed a hard fork to its proof-of-stake (PoS) blockchain on 17 January.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Amidst Polygon&#039;s hardfork and increased profit-taking, which way will MATIC go? - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Polygon completed its hard fork upgrade on 17 January. 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- AMBCrypto","isPartOf":{"@id":"https:\/\/ambcrypto.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/#primaryimage"},"image":{"@id":"https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/#primaryimage"},"thumbnailUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/1672393201987-5d7b77f1-37b8-432a-a2a8-a665a9d3764d.jpg","datePublished":"2023-01-18T13:30:01+00:00","description":"Polygon, the sidechain connected to the main Ethereum blockchain, completed a hard fork to its proof-of-stake (PoS) blockchain on 17 January.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ambcrypto.com\/amidst-polygons-hardfork-and-increased-profit-taking-which-way-will-matic-go\/#primaryimage","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/1672393201987-5d7b77f1-37b8-432a-a2a8-a665a9d3764d.jpg","contentUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/01\/1672393201987-5d7b77f1-37b8-432a-a2a8-a665a9d3764d.jpg","width":1200,"height":900},{"@type":"WebSite","@id":"https:\/\/ambcrypto.com\/#website","url":"https:\/\/ambcrypto.com\/","name":"AMBCrypto","description":"Stay Ahead!","publisher":{"@id":"https:\/\/ambcrypto.com\/#organization"},"alternateName":"AMBCrypto News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ambcrypto.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ambcrypto.com\/#organization","name":"AMBCrypto","alternateName":"AMBCrypto News","url":"https:\/\/ambcrypto.com\/","logo":{"@type":"ImageObject","@id":"https:\/\/ambcrypto.com\/#\/schema\/logo\/image\/","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2026\/04\/amb-wide.jpg","width":600,"height":60,"caption":"AMBCrypto"},"image":{"@id":"https:\/\/ambcrypto.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/cryptoamb","https:\/\/x.com\/CryptoAmb","https:\/\/www.linkedin.com\/company\/13629485\/"]},{"@type":"Person","@id":"https:\/\/ambcrypto.com\/#\/schema\/person\/448f3184b94221384fedfce7a5981ea2","name":"Abiodun Oladokun","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/image-150x150.jpeg","url":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/image-150x150.jpeg","contentUrl":"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/04\/image-150x150.jpeg","caption":"Abiodun Oladokun"},"description":"Abiodun is a freelancer writer working with AMBCrypto. 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