Polygon network records a new all-time high of 190 million unique addresses as of November 14.
Polygon MATIC breaks all-time high record
Polygon MATIC, an Ethereum token used to power the Polygon network, has broken an all-time price record with 190.95 million unique addresses. Nike has announced a new milestone in its business with the launch of its own user-generated virtual currency marketplace. Polygon will be Nike’s new digital community platform, which will be operated on Polygon’s infrastructure.
Polygon’s block explorer and analytics platform revealed that, within a short period of time after the announcement of the Nike and Polygon collaboration, the value of Polygon’s shares had increased by 4.10%. As of press time, the live Polygon price was $0.944800 USD with a 24-hour trading volume of $626,120,458 USD. According to the CoinMarketCap ranking, Polygon MATIC is tenth on the list of the most valuable cryptocurrencies with a market cap of $8.25 billion. It has a circulating supply of 8,734,317,475 MATIC coins and a max. The supply of MATIC coins is 10 billion.
Polygon’s new record marks its largest volume of major transactions since February 2021 with MATIC, Polygon’s native blockchain token.
About Polygon MATIC and its ascent
Polygon is a Layer 2 scaling solution that is backed by Binance and Coinbase. The project seeks to improve the scalability of many different blockchain platforms by resolving some of their common problems. The Polygon platform combines the Plasma Framework and the proof-of-stake blockchain architecture, which makes it easy to execute scalable and autonomous smart contracts.
Polygon’s MATIC token began to rise in popularity in October after Robinhood, a stock and cryptocurrency investing app, announced a collaboration with Polygon for its new Web3 wallet, allowing users to send and receive MATIC on its brokerage. Next, Polygon teamed up with Nubank to host its nucoin cryptocurrency and Meta to deliver its non-fungible token (NFT) vision.
Now, Polygon is expanding its wings and gaining weight in the crypto space with its new collaboration with Nike.
The Polygon and Nike pact
As reported by Crypto.News, American-based international sportswear giant Nike unveiled its new digital user-oriented Community to provide its members with a platform for Web3-enabled virtual creations. Yesterday, Nike released a press release stating that its new platform will champion athletes and help the future of the sport.
Nike’s choice of Polygon as the base for its NFT site makes sense, given that digital assets on this blockchain have been successful in penetrating both Instagram and Reddit.
