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Polygon (MATIC) Overhauls Strategy Under New CEO, Retires zkEVM; Ethereum (ETH) Sets New Treasury Policy & Bitcoin (BTC) Increases OP_RETURN Limit | Flash News Detail | Blockchain.News
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6/30/2025 12:47:45 PM

Polygon (MATIC) Overhauls Strategy Under New CEO, Retires zkEVM; Ethereum (ETH) Sets New Treasury Policy & Bitcoin (BTC) Increases OP_RETURN Limit

Polygon (MATIC) Overhauls Strategy Under New CEO, Retires zkEVM; Ethereum (ETH) Sets New Treasury Policy & Bitcoin (BTC) Increases OP_RETURN Limit

According to @Andre_Dragosch, the cryptocurrency market is witnessing several pivotal technical and strategic shifts. Polygon (MATIC) is undergoing a major overhaul as co-founder Sandeep Nailwal takes over as CEO of the Polygon Foundation, reorienting the project towards its AggLayer cross-chain protocol and retiring the zkEVM rollup, as stated in a press release. Concurrently, the Ethereum Foundation has implemented a new treasury policy, capping annual operational expenses at 15% to ensure long-term sustainability and focus on critical deliverables for 2025-26, according to its blog post. In the Bitcoin ecosystem, developers confirmed in a GitHub update that the upcoming Bitcoin Core version 30 will increase the OP_RETURN data limit from 80 bytes to nearly 4MB, a move that has sparked debate about potential network spam. Other significant developments for traders include the mainnet launch of Plume, a blockchain focused on real-world assets (RWA), and Ant Group's reported plan to seek stablecoin licenses in Hong Kong and Singapore, signaling growing institutional interest and regulatory clarity in Asia.

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Analysis

Polygon's Strategic Overhaul Shakes Up the Layer-2 Landscape


The cryptocurrency market is digesting a significant strategic pivot from Polygon, a project once at the forefront of Ethereum scaling solutions. Polygon co-founder Sandeep Nailwal has taken the helm as CEO of the Polygon Foundation, signaling a major consolidation of leadership and a new, aggressive roadmap. According to a recent announcement, this overhaul involves retiring the zkEVM network and reorienting the entire team's focus toward AggLayer, a novel cross-chain liquidity protocol. This move is a clear attempt by Polygon to reclaim its dominant position in the increasingly competitive Web3 infrastructure space. For traders, this news introduces both opportunity and uncertainty. While the long-term vision for seamless interoperability via AggLayer is ambitious, the phasing out of a major product like zkEVM could cause short-term ecosystem disruption. The market's reaction will be closely tied to the execution of this new strategy and its adoption by developers.



Ecosystem Undercurrents: Ethereum's Prudence and Bitcoin's Data Debate


While Polygon undergoes its transformation, other major ecosystem players are making pivotal moves. The Ethereum Foundation has published a new treasury policy aimed at ensuring long-term sustainability. The policy outlines a plan to cap operational expenses at 15% of its treasury annually, with a goal to reduce this to a 5% baseline over the next five years. This signal of fiscal responsibility and long-term planning appears to be resonating positively with investors. The ETHBTC pair reflects this sentiment, showing a strong 2.256% gain to trade at 0.02312000. This suggests capital is rotating into Ethereum, buoyed by confidence in its foundational stability. ETHUSDT is also up 1.103%, trading at $2,462.73 after navigating a 24-hour range between $2,414.29 and $2,522.57. This outperformance against Bitcoin highlights a key market dynamic for traders to watch.


Bitcoin's Technical Evolution and Market Hesitation


Simultaneously, the Bitcoin ecosystem is navigating its own evolution. Developers for Bitcoin Core have confirmed that the upcoming version 30 release will significantly increase the data limit for OP_RETURN transactions. This technical change has sparked considerable debate, with some viewing it as an enhancement that broadens Bitcoin's utility and others fearing it could lead to network bloat and detract from its primary use as a monetary network. This underlying tension may be contributing to Bitcoin's lackluster performance. BTCUSDT saw a minor pullback of 0.587%, settling at $107,319.61. The key support level for traders is the 24-hour low of $106,766.08; a break below this could signal further downside as the market digests the implications of this core software change.



Trading Opportunities in a Diverging Market


The current market environment, characterized by Polygon's strategic risk-taking, Ethereum's conservative strength, and Bitcoin's technical crossroads, presents unique trading opportunities. The clear winner in the immediate term is the altcoin market, led by high-beta assets like Solana (SOL). SOL has posted impressive gains, with SOLUSDT rising 3.978% to $157.08 and SOLBTC surging 4.030% to 0.00146880. The strong trading volume in SOL pairs, such as the 172.62 BTC volume in SOLBTC, indicates robust institutional and retail interest. This price action suggests that traders are leveraging Ethereum's strength as a green light to take on more risk in promising Layer-1 protocols. The key strategy is to monitor the ETHBTC ratio; as long as it trends upward, altcoins like SOL are likely to continue outperforming. For Polygon, the lack of immediate price catalysts means traders should adopt a wait-and-see approach, looking for concrete milestones related to AggLayer adoption before committing significant capital. The divergence between BTC and the rest of the market is the dominant theme, offering clear opportunities in pairs like ETHBTC and SOLBTC for those positioned to capitalize on the shifting sentiment.

André Dragosch, PhD | Bitcoin & Macro

@Andre_Dragosch

European Head of Research @ Bitwise - #Bitcoin - Macro - PhD in Financial History - Not investment advice - Views strictly mine - Beware of impersonators.

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