MATIC Jumps 20% in a Day After Instagram’s Polygon NFT Minting Reveal

[Google News Bot]

Polygon, an Ethereum sidechain network, is seeing major price gains for its token MATIC after Meta announced Instagram would be using the Polygon network for its upcoming in-app NFT minting feature earlier this week. According to CoinGecko data, MATIC is up roughly 20% in the past 24 hours, from approximately $0.94 to $1.13. In the past week, MATIC climbed 25% and has increased a staggering 35% in the past month. What’s MATIC for? While Polygon users can pay for many transactions in Ethereum, MATIC is required to pay for the gas fees on the network. (Gas fees are essentially transacti ...

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