MATIC dips despite Polygon launching its zkEVM public testnet

by Repost Admin October 11, 2022, 5:10 pm 1000 Views

Polygon announced via a blog post on Monday that its Polygon zkEVM is now available for public testnet. However, MATIC has been underperforming over the last few hours.

MATIC, the native coin of the Polygon ecosystem, is down by more than 2% over the last 24 hours. At press time, MATIC is trading at $0.8063 per coin.

The poor performance comes despite Polygon announcing its Polygon zkEVM Public Testnet a few hours ago.

The future of Ethereum is #onPolygon.🦄💫
When we unveiled Polygon #zkEVM in July, it was a milestone not only for Polygon, but also for Ethereum & Web3.
We’re proud to announce Polygon zkEVM Public Testnet, the world’s 1st open source zkEVM network!https://t.co/bfrFr8XwK8
— Polygon – MATIC 💜 (@0xPolygon) October 10, 2022

According to the team, the Polygon Zero-knowledge Ethereum Virtual Machine (zkEVM) is an Ethereum-equivalent ecosystem that comes with cross-compatibility to existing smart contracts, developer tool