When to buy MATIC before Polygon ZkEVM Launch News?

Polygon MATIC zkEVM News: Despite the hype surrounding the upcoming zkEVM upgrade, Polygon (MATIC) price is currently following a downtrend. According to the price pattern, it is believed that there is more downside strength in the coming days. Therefore, it could be a good opportunity for Polygon enthusiasts to take a position in the cryptocurrency ahead of the crucial upgrade. However, whether the upgrade itself will prove bullish for the currency remains to be seen.

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Polygon zkEVM Hype

Some of the much hyped blockchain network upgrades that did not live up to expectations in terms of price jump were the Ethereum merger in September 2022. With the upcoming merger, Polygon will be able to offer a decentralized Ethereum Layer 2 scalability solution with the zkEVM infrastructure. This includes zero-knowledge cryptographic proofs to compute off-chain transactions, saving on-chain data costs. The zero-knowledge pool runs smart contracts by publishing zero-knowledge proofs of validity while maintaining compatibility with the Ethereum virtual machine.

The date for the Polygon (MATIC) zkEVM mainnet beta to go live is set for the last week of March 2023.

Against this background, it is believed that there is scope for further price declines for MATIC. Trader Crypto Tony predict a relief rally to local resistance around $1.34 could be followed by a drop lower than the current range. With nearly four weeks to go before the upgrade scheduled for March 27, the decline could signal a build-up phase followed by a price jump in the lead-up to the event. Over the past 7 days, Polygon’s price has fallen over 12%. In comparison, the price of Bitcoin fell by just 4% during the same period, which was a correction after several weeks of a bullish environment.

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Anvesh reports on major developments in crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @BitcoinReddy and contact him at [email protected]

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