POLYGON (MATIC) SEEMS BULLISH
MATIC the native token of the Polygon network appears to be bullish as of the time of writing. The price of this particular crypto token featured a massive bullish shoot for weeks now. There’s been news of MATIC merging with Ethereum and this seems to have spurred up this recent rally.
The chart shows that the price of MATIC has been highly bullish, with a rising figure as high as $0.9075. As compared to the token all-time high of $1.01 in July, it indicates it’s just a little lower than this previous price.
MATIC’s total market capitalization is about $6.7+ billion. Experiencing 190% increment as compared to its lowest price as of July.
THE BULLISH CHART
The Polygon native token has vividly revealed a bullish trend, showing that MATIC is gearing up for a bull run with its Pattern ascending in greens. As of the time of writing, MATIC’s price has surpassed the 50-day average. The more technical analysis reveals that MATICs relative strength index is hovering above the neutral zone.
Speculations have it that Polygon’s price has shot up aggressively due to the upcoming merger with Ethereum, which is set to kick off by September. Most Developers presume to remain on the Ethereum network for its fast transactional speed. On the other hand, the bullish stride by MATIC has made the Polygon network pass as the 13th largest cryptocurrency with a market cap tied at $ 7 billion. Creating a wide margin between MATIC and other Cryptocurrencies like AVAX and other Cryptocurrencies.
Polygon is one of the layer-2(L2) networks on the Blockchain. It is also a cryptocurrency scaling solution that seeks to set up Ethereum for mass adoption. It provides developers with essential tools to help create decentralized applications(DApps) to enhance the network’s list of users and experience and Security.
A lot of popular DeFi tokens on the Polygon ecosystem include:
These DeFi projects on Polygon also enjoy the feature of low transactional fees and a processing fee of up to 65 thousand transactions per second.
The network has partnered with various other crypto Projects. It entered a partnership deal with Walk Disney. This was intended for fine-tuning the 2022 Disney acceleration program. The program is intended to touch on areas like NFTs, Artificial intelligence, and Artificial reality.
More so, they also had partnerships with Stripe and Twitter.
It is also in the records that over a dozen projects on the Terra chain popped right out of Polygon.