MATIC and POL prices experienced a significant uptick today, rising by more than 2% following a crucial update from Coinbase regarding the recent Polygon transaction delay. The popular crypto exchange had initially disclosed the delay in transactions, reassuring users of their efforts to resolve the issue promptly. Subsequently, Coinbase announced that the problem had been successfully rectified, sparking increased interest in the market.
Coinbase’s status page update indicated that they had encountered an issue affecting Polygon transactions, leading to delays in MATIC transfers. Despite promptly identifying and fixing the problem, the platform still displayed “degraded performance” for Polygon, suggesting that some users might still face delays. However, the swift response from Coinbase helped assuage concerns and potentially contributed to the surge in crypto prices.
At the time of writing, MATIC was trading over 2% higher at $0.387, with a daily trading volume of $41.56 million. Similarly, POL’s price also saw a similar percentage increase, reaching $0.38, while its trading volume decreased to $54.7 million. The positive update from Coinbase, coupled with an optimistic sentiment in the broader crypto market and significant whale activity in MATIC, likely bolstered the price surge.
Coinbase had encountered a similar transaction delay issue on September 3, swiftly resolving it to demonstrate their dedication to user satisfaction. Meanwhile, Polygon has garnered increased attention following its recent POL token introduction, paving the way for further growth.