MATIC Hits All-Time High after Uniswap’s Polygon Launch

MATIC Hits All-Time High

Polygon’s MATIC has surged to an ATH of $2.66 after Uniswap decentralized exchange deploys on the layer-two scaling solution.

Uniswap holders approved the initiative on December 18, with 72 million voting in its favor against 500,000 who opposed it.  

Polygon-supported Uniswap TVL currently stands at $2.9 million and is expected to increase.

Polygon co-founder Mihailo Bjelic reveals that the layer-two network has 126 million users, 1.22 billion transactions, and $5.2 billion in the total value locked. He terms it as the second-strongest DeFi network after Ethereum.

Bjelic notes that Polygon is aligned to Ethereum core values to offer lower transaction costs and an ideal platform for DeFi.

Ethereum has the largest Uniswap deposit with $4.3 billion in total locked value. Other layer-two networks, Arbitrum, and Optimism have added $62.3 million and $36.9 million from Uniswap integration.

The news follows the announcement by the web browser, Opera, to add support for Dapps on the Polygon network.

Source: Cryptobriefing

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