After A Great Rebound, Polygon’s Market Capitalization Has Surpassed Shiba Inu on January 11

MATIC is currently the 13th biggest cryptocurrency, with a market cap of $16.59 billion, ahead of Shiba Inu’s market cap of $15.59 billion.

Polygon (MATIC) rallied roughly 16% on January 11 as speculators pounced on the altcoin market dip. The announcement that the Associated Press is preparing to establish its NFT marketplace on the Polygon blockchain was likewise welcomed by its community.

According to WhaleStats data, plenty of investors bought millions of dollars worth of MATIC tokens. Plonky2, a recursive SNARK that is 100x faster than existing alternatives and fully compatible with Ethereum, was also released by Polygon.

Following a successful EIP-1559 upgrade on its Mumbai testnet in 2021, Polygon has announced the arrival of the London hardfork on its mainnet. It adds that EIP-1559, which introduces the burning of MATIC tokens and other relevant EIPs, would go live on mainnet on January 18 at 8:00 (UTC).

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