The global cryptocurrency market continues to witness a myriad of events running on a myriad of protocols in its directory. This time it’s Polygon, which is once again a topic of conversation among people in the business. Business people interested in the world of rapidly evolving technologies now look forward to Polygon’s Building Web 3.0 event.
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Meanwhile, Binance is temporarily halting deposits and withdrawals from the Polygon network. The outage that comes after all the updates and fixes made by Polygon developers to the PoS infrastructure irritates users. On the other hand, investors and traders are hawk-eyed at the price projections for Polygon’s MATIC digital asset.
Does Polygon congestion continue to plague users?
The Polygon team will host an event addressing the future of the Internet. Polygon maker Sandeep Nailwal, venture capitalist Kevin O’Leary and other minds in the industry. They will be the speakers of the week “Building Web 3.0” chat by the fireplace. The event will take place on March 17, 2022 at 1 pm EST.
In contrast, the recent outage in the Polygon network that led to the recall of Solana’s downtime events. He found a complete fix over the weekend as manufacturers rolled out updates and fixes to the network. According to the creators, the entire Polygon PoS infrastructure is now live for normal operations.
Subsequently, the team understands that the PoS bridge has been up for normal operations since the weekend fix. Next to the PoS bridge for deposits and withdrawals. That said, all pending deposits and withdrawals have been processed.
However, it’s still a bummer, since Binance has made announcements. Of them, temporarily suspending deposits and withdrawals for the Polygon network. That said, the Polygon developers have clarified that the Polygon PoS network is stable and works well, with secure funds. And that Binance is upgrading its nodes and synchronizing the block data.
MATIC price to stay below the $2 slab?
MATIC price at press time is changing hands at $1.37 with gains of 0.0%. While the market capitalization hovers around $9,393,259,520, the trading volume throughout the day is $644,353,141. MATIC price has been swinging on the 24-hour bandwidth from lows of $1.34 to highs of $1.38.
The altcoin continues its downtrend with its lower highs on the charts. And it is currently testing the lower areas for the third time. MATIC’s price projection is in tandem with the broader market. And the digital asset would likely wait until BTC broke its downtrend.
In short, the event on the construction of web 3.0 and the future of the Internet is a welcome event. Which would further empower creators and developers in the space. The temporary interruption of transactions on Binance that occurred right after the corrections affected users.
That said, according to some sources, Polygon ranks third in terms of active steering in a 7D frame. Coming just behind Binance and Ethereum, the feat comes despite turmoil on the network.
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