Polygon, a decentralized Ethereum-based platform for building scalable user-friendly dApps with low transaction fees, started this week very successfully, concluding major partnerships and announcing an important update. On the background of these events, the value of tokens of the network – MATIC – has already increased by 8%, and apparently will continue to grow, as the list of positive news is replenished.
As of February 15, the price of the Polygon network’s native token rose 8% (to $1.27) and continues to rise. The market capitalization of the platform also rose 8% to $11,127,669,399. Trading volume for the day jumped 25% to $711,741,854 at the time of writing.
Over the past two days, several important announcements have been made, which have played a role in the network’s token price hike.
The brand new newsletter with insights, market analysis and daily opportunities.
Let’s grow together!
Judging by the current situation, the MATIC token will continue to appreciate. In the near term, we can expect more Polygon partnerships with big brands. Whale also continues to accumulate blockchain tokens (a good sign). As the zkEVM mainnet beta date approaches, MATIC’s price could jump.
However, intensified regulatory pressure on the crypto market introduces a high degree of uncertainty.
According to NewsBTC, the next major support level for MATIC is $1.35. If there is a break above it, the price may start new strong growth. In that case, the token could rise to the $1.42 level or even $1.50. The main support is near the level or trend line of $1.25. A fall below this level could cause the token to fall to $1.215.
You have not selected any currency to displayHello, fellow crypto enthusiasts! 👋 As we embark on another week in the ever-evolving crypto…
EigenLayer, a protocol for Ethereum restaking, recently announced an airdrop plan that garnered both praise…
Keonne Rodriguez, a figure linked to the cryptocurrency mixing service Samourai Wallet, has entered a…
The debut of spot crypto exchange-traded funds (ETFs) on the Hong Kong stock market is…
Tether, renowned for its dominant stablecoin USDT, has embarked on a significant investment journey after…
Bitcoin analyst Willy Woo forecasts that the cryptocurrency industry could achieve its first billion users…