• The entire Polygon community is beaming with excitement, and all eyes are focused on Polygon this week, as the highly anticipated Polygon zkEVM is set to launch today. 
• While Polygon (MATIC)  is still in a downtrend and weekly losses are yet to be cleared, sentiments around MATIC’s price are still largely positive that the bulls might be awakened with the zkEVM launch. 

Polygon zkEVM is soon to mark an important milestone, as the highly anticipated zkEVM protocol is scheduled to go live today.

The zkEVM was rolled out mid-2022, and the zkEVM testnet was unveiled in October of the same year. The Polygon zkEVM mainnet will bring EVM compatibility to Ethereum. This will make transactions cheaper and faster on the Ethereum blockchain.

Notably, on Polygon zkEVM, for a batch of 10M gas, the proof time is less than 2 minutes. Already existing EVM compatible smart contracts and Dapps will also function properly on Polygon zkEVM.

Last week, it was noted that altcoins in the cryptocurrency market have already recorded some of the largest transactions on their blockchain network this year.

Polygon (MATIC) is one such network that has secured a massive transaction, going over $40 million. FET has also followed suit, and Santiment, the crypto intelligence platform behind this report has listed a few other altcoins to watch out for. Santiment noted in a recent tweet:

Altcoins have lit up with several transactions among the biggest of the year for their respective networks. MATIC and FET have both seen a transaction valued at over $40M on their networks. Watch MANA, DIA, IMX, and SAND after their big whale moves as well.

Polygon (MATIC) still trading downwards, but market players are hopeful for a bullish recovery

At the time of this report, MATIC has secured hourly gains going up to 0.09%, and prices sit at $1.08. It is worth noting that the crypto market was mostly trading in the red zone last week, and MATIC, like many others, has lost over 6% of its 7-day value according to our data.

With the launch of Polygon zkEVM, some Polygon community members are hopeful that MATIC bulls will be triggered, and a notable upsurge in price value could be recorded in the market today. One trader asserted.

MATIC certainly in a downtrend here but we’ve seen a big ramp in short interest over the last few days. BTC pulls a squeeze like im anticipating this is running back turbo. Will look to add to longs if we get sub 1.06 but im looking for a pop north

Sydney Ifergan, a popular self-proclaimed crypto expert has also made their bullish stance on Matic known. He tweeted:

I’m feeling bullish about the future of Bitcoin , Ethereum, Polkadot, and Matic! These projects have shown tremendous potential and continue to pave the way for groundbreaking innovations in the crypto space. Keep your eyes on these gems!

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