Polygon (MATIC) Rises Over 25% Despite Whale Sales; Retailers are Paying Attention to Aave (AAVE)
Cryptocurrencies appear to be on an upward trajectory these days as the sector continues to achieve new gains and defy the odds. Recently, Polygon has surged by 25%, attracting a wave of buyers despite increased whale sales.
While Polygon managed to draw in more followers, whale sales have also piqued growing interest in new altcoins like Aave (AAVE).
According to analysts, the enthusiasm surrounding Polygon and Aave was expected, as they have delivered impressive returns over the past year.
Polygon's POL Token Launched on Ethereum Mainnet
Polygon is a leading platform for scaling decentralized tools and Ethereum-based dApps. The platform gains efficiency from the zero-knowledge technology that powers its solutions. Its native token, MATIC, is currently the primary cryptocurrency of the Polygon network.
Polygon drew attention after announcing its plans to upgrade its MATIC token. In early October, Polygon shared that the smart contracts for the new 'POL' token were activated on the Ethereum Mainnet. A team of Polygon developers advocated for the token upgrade, which could make the POL token functional as the sole cryptocurrency for all Polygon-based systems.
Aave Announces $1,000,000 Rewards Program
Aave is a multifaceted liquidity protocol where developers can deploy dApps and cryptocurrency users can lend or borrow digital assets. The open-source platform has introduced a native cryptocurrency called AAVE. Cryptocurrency users provide more liquidity to the platform and see their assets multiply.
Holders can stake their tokens to earn cryptocurrency rewards. Borrowers enjoy the convenience of taking out collateralized loans between blockchains.
Cryptocurrencies like Polygon and Aave have been attracting significant attention and generating impressive returns. Polygon's new token 'POL' on the Ethereum Mainnet and Aave's $1,000,000 rewards program demonstrate the ongoing evolution and growth within the cryptocurrency sector.
