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MATIC Volume Soars 33% as Polygon Proposes 13-Person Protocol Council

Published 10/21/2023, 12:44 AM
Updated 10/21/2023, 12:45 AM
MATIC Volume Soars 33% as Polygon Proposes 13-Person Protocol Council
MATIC/USD
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  • MATIC sees a 6.58% price surge with a 33.8% increase in trading activity in 24 hours.

  • Polygon introduced the PIP-29 to create a Protocol Council for decentralized governance.

  • The council will potentially comprise Polygon co-founder, rug-pull detector ZachXBT, and others with impressive resumes.

MATIC, the soon-to-be-rebranded native token of the Polygon blockchain, has garnered increased trading activity from crypto market participants over the past 24 hours. According to data from CoinMarketCap, MATIC’s 24-hour chart appears usually bullish with a stronger upward trajectory in sight.

Specifically, crypto traders bought and sold 33.8% more MATIC tokens within the last 24 hours than the previous day. Its price is now $0.5416, up 6.58%, at the reported time.

Polygon (MATIC) 24-hour chart (Source: CoinMarketCap)

Notably, the uptick in MATIC value followed a significant development from the Polygon development team. In particular, the development crew has initiated a new proposal dubbed PIP-29. According to the official report, the aim is to create the Polygon Protocol Council.

“This is the next step towards the vision of a decentralized, community-l…

The post MATIC Volume Soars 33% as Polygon Proposes 13-Person Protocol Council appeared first on Coin Edition.

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