As the Ethereum (ETH) network progresses along the slow and steady path toward Eth2 and the full transition to proof of stake, layer-2 solutions have arisen as the best solution to the current challenges associated with high gas fees and network congestion.
One L2 solution that has emerged as a top choice for DeFi projects and traders is Polygon (MATIC), which over the past week, has seen its price climb toward new highs due to a surge in activity at its QuickSwap decentralized exchange.
MATIC/USDT 4-hour chart. Source: TradingView
Data from Cointelegraph Markets and TradingView shows that after hitting a low of $0.34 on April 25, the price of MATIC rallied 161% over the next three days to reach a new all-time high at $0.897 on April 28.
QuickSwap rockets higher
While the rise of Polygon has been thoroughly covered by Cointelegraph, the token’s main DEX QuickSwap (QUICK) has thus far been overshadowed by the more active exchanges on the Ethereum mainnet like Uniswap