Big announcement for Polygon MATIC ahead? 💡

This week, Polygon Technology is scheduled to publish the tokenomics for the recently announced Polygon 2.0. From price action point of view tokenomics is indeed one of the most crucial aspects of the four announcements in the roadmap for the Polygon upgrade. Investors will receive more information regarding the token supply and ownership following the upgrade. Currently, it remains uncertain whether there will be a new token or if the existing MATIC will be used, as well as how the token supply will evolve over time. These factors will directly impact the Matic price in the long term.

Polygon 2.0 is an upgrade that aims to build the Value Layer of the Internet, allowing anyone to create, exchange, and program value in a decentralized and efficient manner. The upgrade involves significant changes to Polygon's protocol architecture, tokenomics, and governance. The key concept of Polygon 2.0 is to create a network of ZK-powered L2 chains that are unified via a cross-chain coordination protocol. This network will provide unlimited scalability and unified liquidity, offering a seamless user experience as if using a single chain. The upgrade envisions Polygon becoming the foundational protocol that democratizes access to the global economy, enabling decentralized finance, digital ownership, and new mechanisms for coordination.

Polygon 2.0:

• will unlock unlimited scalability for Polygon - the network of ZK-powered L2 chains will enable a practically unlimited number of chains and facilitate cross-chain interactions safely and instantly, without compromising security or trust

• unified liquidity it offers - by leveraging ZK technology, the upgrade will provide a seamless composability of assets and transactions across the entire network without the need for multiple bridging mechanisms

The price of Polygon is consolidating above the recent lows in mid-June after the SEC cited MATIC as securities in the lawsuit against Binance.US. Following this news, Etoro, Robinhood, and other exchanges announced the delisting of selected altcoins, including MATIC. This created selling pressure, yet MATIC did not deepen its decline below 0.55. Key levels to watch are the next support lines at 0.82 and 0.91, as well as the level of the recent low around 0.55. 

H4 interval, source xSation 5