Polygon (MATIC), a popular altcoin, has garnered attention with its rise over the past day. The movements of the whales appear to be behind the rise of Polygon. In the past 6 weeks, the accumulation of whales has increased for MATIC. Meanwhile, the network is bringing a lot of innovations. Here are the movements of whales in Polygon and the latest developments in the network …
Whales focus on the popular MATIC altcoin
Polygon (MATIC), the 18th largest cryptocurrency by market capitalization, gained 25.83% in the past 24 hours. The coin rose from $ 0.39 to a high of $ 0.508. It is changing hands at $ 0.5034 at the time of writing. Meanwhile, the whales are heavily trading MATIC, according to data from Santiment, which provides data on the chain. Santiment shared a chart for investors’ MATIC savings, using the following statements for Polygon:
MATIC sharks and whales have been in a fairly large accumulation trend for about six weeks. Wallets holding between 10,000 and 10 million tokens collectively added 8.7% more to their purses during this time period.
Polygon DAO integrates the decentralized identity service
Meanwhile, Polygon has implemented decentralized identity integration. Polygon ID, a new zero-knowledge identity service (ZKP); Yesterday Polygon joined with the DAO to promote fair voting in DAO communities. DAOs can unlock verified voting by leveraging Polygon ID and basing voting on identity and reputation. It guarantees that the same person does not vote twice. It also allows the “Personality Test” which eliminates the problem of bot voting without compromising user privacy.
cryptocurrency.com As we have reported, until now it was not possible to allow participation in DAO governance processes based on specific user attributes and reputation without directly connecting to a user’s public wallet. Relying on a token-based voting system has resulted in the whales who own most DAO tokens having a huge impact on key governance votes, increasing centralization. Therefore, this development is of great importance.
The network continues to strive to be carbon neutral
On the other hand, after MATIC announced that Polygon has taken important steps to become carbon negative; it looks like it’s gearing up for another bullish momentum. The blockchain startup revealed that it has partnered with KlimaDAO as part of the Green Ecological Manifesto. Polygon purchased $ 400,000 worth of carbon credits, representing 104,794 tons of greenhouse gases. This equates to all carbon debt since the start of the MATIC network in 2019. In light of these developments, the rise of the MATIC has been crowned with a rate of more than 25 percent in 24 hours.
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