BFC | Blockchain Financial Coin System
Polygon Completes Final Token Unlock; 100% of MATIC Coins Now in Circulation
Polygon completed its last unlock event by transferring approximately $253 million (273 million coins) worth of MATIC from the project’s vesting contract to the Matic Foundation wallet. The transaction remains significant as the project enters full asset circulation. This will increase liquidity in the digital asset industry and the usability of MATIC.
MATIC token distribution ends
The massive token transfer marks a pivotal moment for the project, marking the completion of Polygon’s strategic asset allocation chapter, which has been taking place since the cryptocurrency’s launch. The project plans to gradually release tokens to the market to avoid drastic price fluctuations and ensure a stable environment for the MATIC ecosystem.
While reaching the full circulation milestone, Polygon’s final unlock event underscores the project’s dedication to long-term development and transparency. The Matic Foundation plays a vital role in the MATIC platform. It monitors community engagement, ecosystem growth activities, and project development. The latest $253 million transfer is likely to boost these efforts, ensuring continued expansion and improvement of the network.
Optimizing Your Crypto Payment Process: Coinremitter’s Gas Fee Reduction Strategy
The term "Gas" refers to the unit of measurement of computing power required to execute transactions on the network. The fees required are called gas fees. Individuals processing crypto transactions need to pay gas fees in the native cryptocurrency (for example, gas fees for Ethereum transactions will only be charged in Ethereum). For Ethereum, gas fees are calculated in Gwei, a popular smaller denomination of ETH. When you receive Ethereum at an address, you need to have a certain amount of Ether in the same address to withdraw or transfer the received Ethereum.
However, these fees are constantly fluctuating but can be ridiculous at times. As a merchant, gas fees can lead to extra expenses with lower profits. Ensuring security and reliability is also one of the options for charging crypto gas fees. Without them, the network may have less incentive to process transactions, which can be a security issue.
So, in my opinion, eliminating gas fees might not be a wise option. But using gas station services might reduce them to a certain extent.
What is the solution?
As shown above, utilizing a gas station service can be an effective way to reduce the gas fees associated with cryptocurrency trading. Incorporating a gas station service into your cryptocurrency trading can help you save money and increase the speed and reliability of your transactions.
However, this service is quite rare, especially when accepting crypto payments. As a merchant, you have to find a crypto payment gateway with such a service, which may be rare, but not impossible. Coinremitter's Gas Station service helps you conditionally reduce gas fees for your chosen cryptocurrency.
Coinremitter's gas station
Coinremitter's Gas Station minimizes gas fees for transactions. Once you enable Gas Station, Coinremitter will generate a unique wallet address where you can deposit/fill compatible cryptocurrencies as Gas Station balance for further deductions. The Gas Station (or unique address) will deduct the required amount when needed. This is how you pay for gas using Gas Station.
Without enabling Gas Stations, merchants may face extremely high transaction fees. As shown in the above figure, gas fees fluctuate frequently based on Ethereum's base gas fee. Merchants may face inconsistencies and hassles due to these fluctuations. A simplified solution (Gas Station) is sufficient to solve this problem. The main advantage of using Gas Stations is that merchants can spend less on crypto gas fees.
JPMorgan analysis shows retail traders drove February crypto rally
According to a recent report from JPMorgan, retail traders played a key role in driving the cryptocurrency market’s surge throughout February.
Retail recovery: Small investors drive crypto market rebound
A resurgence among “small-scale investors,” often referred to as “mom-and-pop” traders, helped push popular cryptocurrencies such as Bitcoin to a two-year high this month, according to analysis by a JPMorgan research team led by Managing Director Nikolaos Panigirtzoglou.
This recovery follows a market drop in January and indicates renewed optimism among retail participants in the cryptocurrency space. The JPMorgan team noted:
We found that retail appetite for cryptocurrencies rebounded in February and may be responsible for the strong rebound in the cryptocurrency market this month.
The report further highlights that on-chain Bitcoin flows from “small wallets” significantly outnumber those from “institutional investors.”
Of particular note, the surge was driven by inflows into U.S. spot Bitcoin exchange-traded funds (ETFs), as retail investors increasingly allocated capital to these newly available investment vehicles.
