Polygon Expands Ecosystem Amid Integration of Crypto Payment Solution DataMynt: Details


Polygon has announced the latest integration to its ecosystem

The Polygon layer 2 scaling platform has announcement the latest integration into its ecosystem in its ongoing effort to expand.

In a recent release, DataMynt, a cryptocurrency payment solution, may soon be integrated with the Polygon full-stack scaling solution, along with its partners, merchants and retailers. DataMynt will likewise support Polygon’s widespread network and user base, as stated in the release.

In late January, Polygon revealed that it had reached the adoption milestone with over 7,000 decentralized applications (dApps) running on the network. The exponential growth of new applications in decentralized finance (DeFi) and non-fungible tokens (NFT) has caused congestion and increased fees on the Ethereum mainnet. To take advantage of the low fees, much of the activity went to Polygon.

MATIC price action

The MATIC price declined in the prior week as the Polygon network experienced temporary issues. As U.Today previously reported, the Polygon (MATIC) network faced a network-wide issue causing a transaction blockage and, reportedly, some downtime, causing Binance to stop withdrawals from the platform.

At press time, MATIC was attempting to rebound from intraday lows of $1.17 and is currently trading at $1.44.

Amid the drop in prices, whales are using the opportunity to accumulate, as WhaleStats reports a recent purchase of 6,023,315 MATIC ($8,553,107 worth). It was either moved by a top ETH whale or large holder address.

This comes as Polygon whales have become more active over the past 24 hours, with the number of large transactions increasing by 34%, according to IntoTheBlock data. Large transaction spikes often indicate high activity among institutional players, or whales, buying or selling.


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