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Token launches have always caused excitement in the cryptocurrency market. In its latest token launch, Polygon released another 273 million MATIC tokens. The Layer 2 scaling project Polygon (MATIC) has released the last of its locked up tokens.
According to blockchain data on Etherscan, Polygon has released the last 273 million MATIC tokens that had been locked up. These tokens, with a total value of approximately $253 million, were transferred to the Polygon Foundation address.
Polygon enables fast and easy off-blockchain transactions by moving transactions to the Layer 2 network. According to DefiLlama, the total value of assets held in Polygon exceeds $962 million. According to Etherscan data, all MATIC tokens are now in circulation as there are no MATICs left in the locked contract.
After token unlocking MATIC has risen about 3%. MATIC is trading at $0.97 today. At the daily chart support level is $0.88 and resistance is at $1.
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