MATIC Blasts Off: 20% Surge As Polygon Trading Volume Hits Records

The global cryptocurrency market value has retraced to over $1.72 trillion, suggesting that the cryptocurrency industry has lost some of its momentum in the last day. Furthermore, MATIC has not seen any tiny losses, in contrast to the majority of prominent digital assets, such as Bitcoin.

Timeline of Polygon, Polygon-ecosystem-token

Polygon (MATIC) is currently witnessing a notable upswing, registering a 30% rise in value over the past week. This upward trend is triggered by bullish investors within the protocol, who are aiming to attain new highs for the year. Nevertheless, as the price of MATIC approaches the $1 mark, there's noticeable selling activity from investors.

Polygon Price Prediction: In a climate riddled with market uncertainty, Polygon coin has emerged as a beacon of stability, effectively maintaining its ground above the pivotal $0.75 support mark. The past eight days have witnessed a commendable rally in the MATIC value, culminating in a 43% surge, with the altcoin now trading at the $1.07

American billionaire and Bitcoin investor Mark Cuban has unstaked some Polygon (MATIC) tokens and deposited them to crypto exchange Coinbase on Tuesday. The move happens as MATIC price jumps over 10% to hit $0.92, despite the U.S. Securities And Exchange crypto alleged MATIC among other crypto as unregistered securities.

Cryptocurrency analyst and trader Ali Martinez has shared bullish sentiments on two prominent altcoins, Fantom (FTM) and Polygon (MATIC), based on their recent price actions. Fantom (FTM), a smart contract-enabled blockchain platform, is generating significant interest among crypto enthusiasts and traders.

Polygon is a decentralized layer 2 Ethereum scaling platform that enables developers to build scalable user-friendly dApps with speed transactions and low fees. Polygon zkEVM - It is the first layer 2 network of the Ethereum Virtual Machine (EVM), a zero-knowledge (ZK) rollup scaling solution.

Polygon (MATIC) is the altcoin in focus this time around as an analyst provides an analysis of the crypto token. Based on this analysis, there is a feeling that things could soon begin to look up for MATIC.

Polygon Labs announced on Dec. 15 that it had ended its contributions to Polygon Edge, a platform leveraged by several blockchain projects. The company said that it would shift its focus to Polygon CDK, a successor solution that aims to produce a unified layer-2 ecosystem with interoperability and a single pool of liquidity.

In a groundbreaking move, FIFA, the global governing body of football, has announced the launch of FIFA+ Collect, a platform that will allow football fans worldwide to own unique digital collectibles. These collectibles, minted on the Polygon network, will feature iconic moments, art, and imagery from the FIFA Club World Cup™.

OKX, a global cryptocurrency exchange, will soon provide web3 services and knowledge across India. The venture will be focusing on services and managing its operations with a three-pronged strategy.

Amid uncertainty surrounding the previous trend of MATIC, the Polygon network experienced a significant surge in activity, according to the latest Santiment data. This increase is evident in both trading volume and the number of active addresses in the last 24 hours.