Polygon (MATIC) is up during a bear market. Why?

In early 2021, Matic, an Ethereum infrastructure project, rebranded to Polygon. Development teams of Ethereum apps can use Polygon's workarounds, which concentrate on the architecture of the Ethereum network, to accomplish things faster and more securely.

Timeline of Polygon

Danish blockchain platform Vleppo and US-based plant genome biotech firm Allele Group have used blockchain technology powered by Ethereum (ETH) scaling solution Polygon (MATIC) and Komodo Protocol to enable monetization of cannabis plant IP.

The DeFi development space is alive and well, with the newly announced accelerator program from Orbs & Polygon: DeFi.org. The group announced that four projects will get support from the program.

[PRESS RELEASE – Please Read Disclaimer] FrontFanz isn't taking any breaks. After coming out in the open, this platform successfully closed a strategic investor round and a private sale round.

On Wednesday, July 27th, Polygon, an Ethereum scaling solution, released a semi-annual report detailing its progress since the start of 2022. This blog also highlighted some of the network's plans for the second half of 2022.

Daimler South East Asia, part of the Mercedes Benz Group, introduced a blockchain-based data sharing network called Acentrik that is specifically designed for corporate users. The new project will let businesses purchase and sell data in a decentralized setting.

Clearpool, an uncollateralized stablecoin lending protocol, has launched on Polygon. The post Clearpool launches uncollateralized stablecoin lending on Polygon appeared first on The Block.

Polygon TVL and market cap have also gradually recovered following the trend of currency prices. The post Polygon (MATIC) price soared 233% in one month, what brought it out of the bear market?

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion. Bitcoin [BTC] fell below the $20k mark and over the past couple of days, saw a minor bounce to the $21.4k mark.

Polygon prices are feeling the heat as MATIC retraced to $0.60 and after the bullish movements, now the coin is going in the opposite direction so let's have a closer look at today's latest cryptocurrency news. MATIC retraced and was seen to have plummeted by more than 20% in comparison to the high of $0.

The ongoing recovery rally in the MATIC/USDT pair initiated along with the formation of an ascending triangle pattern in the daily time frame chart. On July 13th, the coin price gave a bullish breakout from the $0.628 neckline resistance, leading to a 53.3% rally to the $1 resistance zone.