MATIC Network project is one of the first projects launched on Binance platform offerings through what is known as IEO, Binance LaunchPad.
It is noteworthy that the project has become popular and the momentum of the media, all of which affect the growth of the token significantly in the past few weeks.
In this topic we will learn about the Matic Network project and the reason for its recent rise.
Matic Network was launched as we mentioned on the Binance Launchpad platform to be launched in the new form of subscription to the IEO.
The project was launched in April to raise $ 5 million through the sale of all the offered tokens of 1.9 billion Token.
To be followed by the Matic Network (Matic Network) of the rocket rise and achieve high gains of about 900 percent. Surpassing the performance of all other cryptocurrencies.
What is Matic Network?
The project aims to solve the general problem faced by most of the networks of blockchain is scalability.
The project tends to focus more on the ethereum network and look for a solution to expand it.
Where the project built another layer of modified version of the plasma, a infrastructure designed specifically for ethereum.
In order to expand the ethereum chains further and improve the work of decentralized applications on the network and address all defects.
The reason for the recent rise of the Matic Network project
The main reason for the high value of the project is the impact of the Binance platform, which has had a significant impact on the progress of the project since its launch until the moment.
There is no doubt that it has a clear impact on the crypto market and its commitment to the project has given a significant boost to its adoption.
Matic Network has also joined the Binance Info Transparency Initiative by keeping investors informed about the various phases of the project.
The reason for the increase in the value of MATIC is the announcement of the investment of the Coinbase investment platform in the project, which allows the exchange of (MATIC) for the fixed currency provided by USDC, and began the Crypto community wondering whether to put the currency to trade on the platform in Coming days.
All of this has contributed to the advancement of the MATIC token to the top 100 coin by market value by CoinMarketCap.
Please note, that is not a bit of financial advice, nor the WhaleToBe team’s view