Decoding why MATIC is yet to deliver a strong bounce back

MATIC delivered a heavily bearish performance in April but it looks like the bears are running out of momentum. Although the selling pressure seems to be tapering out, the price demonstrated some sideways action in the first three days of May due to a lack of strong buying pressure.

Timeline of Polygon

Polygon price analysis reveals MATIC prices have been trading in a bearish trend but a break out in the previous 24-hours has been witnessed with the bulls continuing to show dominance posing more buying pressure in the market. Polygon prices have seen a price surge of 3.08 percent as the prices hover above the $1.45 mark.

Quick Take Crypto Raiders is a semi-idle Polygon-based game, in which players can choose to either play actively or passively as a Raider character or Mobster character, respectively. Crypto Raiders is based on a “pay-to-play” model. Players can either gradually level up their characters using the limited free keys distributed each week, or quickly level up by purchasing additional dungeon passes, equipping themselves with a horse NFT, and purchasing potions from the DEX. A major distinction between Crypto Raiders and other P2E games is some of its in-game assets are fungible, allowing players to trade them on decentralized exchanges.

At the time of writing, MATIC was trading at a price of $1.080. The Relative Strength Index (RSI) dropped to 29.48 after struggling around the neutral zone, whereas the Awesome Oscillator (AO) was operating in the red zone.

Polygon has established its presence in the DeFi space and continues to do so, and this way, what Polygon lacks in the spot market is being fulfilled by killing it in the DeFi market. Polygon has everyone's attention Polygon achieved a huge milestone recently after it hit 19000+ dApps this month.

The financing round was led by crypto venture fund Hack VC with several other investors in this round, including funds CMCC Global, Nascent, FJ Labs, and several prominent crypto angel investors including the founder of UMA Hart Lambur, and Betfair Co-Founder Josh Hannah, among many others. Polygon participated as well, providing a $2.5 million grant. SX Network, creator of the …

Poloniex, a global cryptocurrency exchange, has  officially announced its collaboration with Polygon, the leading platform for Ethereum scaling and infrastructure development. This collaboration will focus on empowering Web3 development and adoption, but will also include joint efforts in other various fields.

The Polygon ecosystem has witnessed historical growth in the past several months and now supports over 19,000 dApps—an increase of over 170% from January this year. The post Polygon's ecosystem is surging with a 170% YTD growth and over 19,000 dApps deployed appeared first on CryptoSlate.

The TUSD-am3CRV pool has launched on Curve's Polygon network with the gauge feature – which only seven pools on Curve's Polygon network have, to distribute CRV rewards on April 1. The TUSD-am3CRV pool is supported on Curve's Ethereum network as well.

 Nexity Network has joined Polygon Village, an accelerator program created by Polygon DAO, Ethereum's Internet of Blockchains. The collaboration will see both decentralized ledger companies work together to develop Nexity's ecosystem.

At the time of writing, Polygon [MATIC] was the #17 biggest crypto by market cap, trading at $1.27. This was after losing 4.86% of its value in the last day and skidding by 12.10% in the past week.