MATIC traders are forecasting huge success for Polygon network after the zero knowledge EVM (zkEVM) rollup.
zkEVM's compatibility allows the Polygon network to perform smart contracts and developer operations in the new protocol without issues.
MATIC traders seem to be predicting enormous success for Polygon network.
The Polygon zkEVM rollup will ship soon, and MATIC is prepared to create a new record. From the start of 2023, the cryptocurrency has experienced the highest annual growth rate among significant coins. The rollup might end up being a game-changer for the token because the integration of zkEVM would drastically cut expenses and boost security. The traders' reaction to the announcement of the rollup's launch date was unmistakably optimistic.
Zero Knowledge Etherem Virtual Machine is known as zkEVM (zkEVM). The rollup's main function is to validate the data on the EVM using zero knowledge proofs and off-chain processing power. The storage and processing costs that would otherwise be incurred on-chain will effectively decrease as a result. Also, the zero knowledge method of approving transactions without disclosing the specifics. As a result of zkEVM's interoperability, the current Polygon network will be able to execute smart contracts and developer operations in the new protocol without any problems.
Due to the recent sharp increase in MATIC's price, its pairing with Bitcoin has nearly reached an all-time high. The price of MATIC has doubled since the beginning of January 2023, while the price of BTC has increased dramatically. As a result, the MATIC/BTC combination is about to reach the $0.000064 top it reached in November 2022 just before the FTX collapse. As of this writing, the price of Polygon is $1.526, up 3.518% from the previous day.
In light of this, some traders predict significant gains for the No. 8 cryptocurrency if the MATIC/BTC combination surpasses the record high.