MATIC and POL prices surged by more than 2% today following a significant announcement from Coinbase about the delay in Polygon transactions. The exchange acknowledged the delay and assured users that they were actively working on a solution. Shortly after, Coinbase announced that the issue had been resolved, sparking interest in the market.
In an update on the Coinbase status page, it was revealed that there had been an issue affecting Polygon transactions, causing delays in sending and receiving MATIC. However, Coinbase swiftly identified and fixed the problem, reassuring users that their funds were secure.
While the primary issue has been addressed, the status still shows “degraded performance” for Polygon, suggesting that some users may still experience delays. Despite this, Coinbase’s quick response helped maintain market confidence and potentially contributed to the increase in crypto prices.
The prices of MATIC and POL rose over 2%, with MATIC trading at $0.387 and POL at $0.38. The positive update from Coinbase, combined with overall market optimism and increased MATIC whale activity, likely fueled the price surge.
Coinbase has previously dealt with similar transaction delays on September 3, showcasing its dedication to resolving issues promptly. Additionally, Polygon has seen increased interest following the introduction of the POL token in a recent upgrade.
The article detailing the surge in MATIC and POL prices due to Coinbase’s update on the Polygon transaction delay can be found on CoinGape.