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The price of Polygon Network native asset MATIC has risen by more than 5% in the past 24 hours, joining the cryptocurrency market's gains. The altcoin price rose by more than 5%, bringing its weekly gains to 22% and monthly gains to 47%. On-chain data shows that MATIC's price increase is directly correlated with strong accumulation by whales.

The price of MATIC, the native asset of the Polygon network, has skyrocketed in the past 24 hours, rising by an astonishing 5% or more, in stark contrast to the downward trend of many other cryptocurrencies. The price of altcoins has also risen, rising by more than 5%, bringing the weekly increase to an astonishing 22% and the monthly increase to 47%. These astonishing increases are not accidental, but are closely related to the strong performance of MATIC. According to on-chain data, we can see that the price increase of MATIC is directly related to the active increase in holdings by whales who have entered the market with huge funds.

Strong whale accumulation in MATIC

According to on-chain data, whale accumulation of MATIC has steadily increased over the past few weeks. According to data from on-chain data platform Santiment, Polygon's MATIC market value has increased by 54% in just three weeks to $0.81. Large wallet addresses holding 100,000 to 10 million MATIC have played a key role in the price increase in the past two weeks. This growth trend deserves our close attention.

At the beginning of the week, MATIC went through many challenges and finally made a breakthrough under the suppression of the downward trend line, breaking this long-standing problem in one fell swoop. This not only symbolizes the improvement of its own strength, but also indicates a possible upward trend in the future. The 22-month pressure seems to have been silently supported behind it, but if the pressure persists, the price of MATIC may have the potential to rise by 15% and reach an important resistance area of ​​​​$0.9. Once this area is broken, the farther future, that is, the $1 range, is waiting for it. All of this will undoubtedly bring new opportunities and challenges to investors.

Polygon announces new partnership

Polygon Labs, the team behind Matic, has recently worked closely with the NEAR Foundation to develop a zero-knowledge (ZK) prover specifically designed for the Wasm blockchain. This zkWasm prover is an important bridge connecting the Wasm blockchain and the growing Polygon CDK ecosystem (including Ethereum), which has far-reaching significance for expanding the scope of application of blockchain technology.

As part of this strategic collaboration, the NEAR Foundation has become one of the contributors to the Polygon CDK (Chain Development Kit). The zkWasm prover further enhances the flexibility of developers using the Polygon CDK, a comprehensive set of open source software components that simplify the creation and deployment of ZK-powered layer 2 solutions on the Ethereum platform. WebAssembly (Wasm) is a widely adopted framework for executing complex programs in web browsers. The framework provides native-like performance while serving as the basis for a variety of popular web-based services. In the Web3 space, the Wasm virtual machine can also serve as the runtime for blockchain platforms such as Near (NEAR) and Polkadot (DOT), which is different from the Ethereum virtual machine.

As part of this strategic cooperation, NEAR Foundation has become one of the contributors to Polygon CDK (Chain Development Kit), which is a high recognition and trust in the Polygon ecosystem. This contribution not only means NEAR Foundation's recognition of Polygon technology, but also shows the common vision and commitment of both parties to promote the development of blockchain technology and Web3.

The combination of the zkWasm prover and Polygon CDK further enhances the flexibility of developers using Polygon CDK. Polygon CDK is a comprehensive set of open source software components designed to simplify the creation and deployment of ZK-powered layer 2 solutions on the Ethereum platform. With the zkWasm prover, developers can use Polygon CDK more conveniently, achieving a more efficient and flexible development process.

WebAssembly (Wasm) is a widely adopted framework for executing complex programs in web browsers. It provides native-like performance while serving as the basis for a variety of popular web-based services. In the Web3 space, the importance of the Wasm virtual machine is self-evident, as it can serve as the runtime environment for blockchain platforms like NEAR and Polkadot, which is different from the Ethereum Virtual Machine (EVM).

The NEAR Foundation is full of expectations for the application and future development of WebAssembly. They believe that WebAssembly is expected to become an important part of the next generation of blockchain technology, providing developers with a more efficient and flexible development environment. In this process, the NEAR Foundation will continue to promote the development of the Web3 field, explore and innovate with the Polygon community and other partners, and contribute to a more decentralized future.

In addition, the NEAR Foundation has also actively participated in other projects and activities in the Polygon ecosystem, maintaining close communication and cooperation with community members and partners. They believe that through close cooperation with the Polygon community, NEAR and Polygon will jointly promote the development of blockchain technology and Web3, and bring more secure, reliable and innovative digital asset solutions to global users.

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