Polygon (MATIC) Demand On the Rise – Will Price Follow?

Polygon (MATIC) price hit a weekly low of $0.70 on Wednesday, November 22, as the crypto markets reacted to the regulatory controversy surrounding Binance. On-chain analytics identify the critical bullish indicators that could shape MATIC's next price move.

Timeline of Polygon, Polygon-ecosystem-token

Polygon zkEVM Mainnet Beta update is underway and in anticipation of the advancement, the network has released some core information for users in its ecosystem. Polygon zkEVM Upgrade Schedule According to layer-2 protocol, the update of Polygon zkEVM Mainnet Beta infrastructure will occur on November 23 at 13:00 UTC and it is expected to happen

Animoca Brands, Amazon Web Services (AWS), and Polygon Labs announced MoonRealm Express Accelerator, a strategic collaboration to support Web3 builders around the world and accelerate the development of Web3 products and solutions through Animoca Brands' flagship project Mocaverse.

The POLS token closely mirrors the BRC-20 token derived from Bitcoin Ordinals. According to EVM (Ethereum Virtual Machine) data, 18,100 individuals have claimed the token, and only 8.7% of the total POLS supply has been minted so far.

Polygon (MATIC) price reclaimed the $0.90 territory on Nov. 14, bringing its monthly gains to 15%. On-chain and derivatives data analytics identify the critical bullish indicators that could shape MATIC's next major price move.

The crypto market experienced a consolidated weekend as major cryptocurrencies traded sideways, following which the week started trading in the red as the market recorded a correction of approximately 3.5% within the past two days. On the positive side, Layer-2's Polygon token gained significant momentum following the reports of it leading the gaming sector.

The MATIC Price has seen a surge of over 15%, reaching $0.85 in the morning, as bulls look to push the token beyond the crucial $1 mark. MATIC is currently trading at $0.83 and could continue to push higher if it crosses the resistance levels at $0.850 and $0.880.

MATIC, the native token of Polygon, an Ethereum sidechain, is ripping higher, mirroring the general performance across the crypto scene, spearheaded by Bitcoin (BTC). As of November 9, MATIC is up roughly 5% in the past 24 hours and inching closer to July 23 highs, looking at the candlestick arrangement in the daily chart.

Polygon Village, owned by Polygon Labs, announced that more than 110 million Polygon MATIC tokens, worth $78 million, will be distributed to projects and builders in the Polygon ecosystem. Polygon Ventures' Investment Principal Abhishek Saxena is a panelist at Benzinga's Future of Digital Assets Event.

NEAR Foundation, the non-profit entity behind the NEAR Protocol, has announced a collaboration with Ethereum scaling solution Polygon Labs to improve interoperability across chains.

This collaboration's primary objective is to connect Wasm-based chains with the Ethereum ecosystem, offering developers who utilize the Polygon CDK (Chain Development Kit) a range of customization options. NEAR Foundation Becomes Core Contributor to Polygon Polygon Labs wants to introduce something called a zkWasm prover.