Moonbeam, an Ethereum-compatible smart contract platform built on one of Polkadot’s parachain slots, announced the completion of its launch process, taking home the honors of being the first fully operational parachain on the Polkadot network.
Polygon (MATIC), a layer two network designed for scaling and application infrastructure development on the Ethereum (ETH) network, was one of the most popular digital assets throughout the entire crypto market in December. From a spike in active addresses holding or trading MATIC, to Polygon’s $1 billion investment into zero-knowledge technology, co-launching a $200 million Web 3.0 social media initiative, to being utilized by Opera’s web browser to bring its decentralized apps to a wider audience, the future looks incredibly bright for the MATIC network.
Polygon (MATIC) announced on its official site that following a community vote goEthereum’s flagship project, Uniswap, now has its V3 contracts live on the layer-two scaling solution with benefits including lower gas fees, faster transactions, and increased users among several others. Support for Polygon has also been integrated with the AMM’s (automated market maker) official interface.
Solana (SOL) has experienced a dramatic reduction in valuation over the past month. After reaching a high of $243.56, SOL is now struggling to stay above the major support level of $170 and the bears are currently in firm control yet again after a false breakout.
Cryptocurrencies have been in a downward trend over the past week led by Bitcoin’s drop to a low of $45,000 from all-time highs and BTC wasn’t alone. Everything from Ethereum to Polkadot saw steep drops in valuation and have been fighting to recover lost ground over the past several days. As the larger cryptocurrencies continued to face selling pressure, one altcoin, Tezos, has bucked the trend and has been stringing together gains, popping as much as 25% during a twenty-four hour period.