Altcoins

MATIC Price To Remain Under $2 This Q1! Will This Be The Catalyst For a Bullish Rebound?

Written by: Sahana Vibhute

Written by right arrow

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

  • author facebook
  • author twitter
  • linkedin

Mar 10, 2022

news-image
Highlights

    Polygon partners with Behance, the initiative sees addition of support for NFTs minted on Polygon.

    Crypto savvies look forward to on-chain analytics of the Polygon network.

 The crypto-verse has been longing for a catapulting flight to the stratosphere. They yearn for what has been escalating since the roll-out of the executive order. Which has been fueling optimism in the crypto fraternity. Wherefore, crypto investors and merchants are keen on investments in potential digital assets.

Consequently, prominent layer-2 protocol Polygon is under active consideration of money makers. Who is keen on the foot movements of MATIC price, and on-chain analytics of the network. In addition to the network’s stock of emeralds come Polygon partners with Behance. Which will support the mint of NFTs on the network.

Will These Stimulants Trigger Polygon’s Bullish Flight?

 In its routine collaborations, Polygon has come into an alliance with a huge name in the tech industry. Which is Behance, Adobe’s social media platform for creators. Behance will be adding support for the mint of NFTs on the Polygon network. With the assistance from OpenSea, artists and creators will be able to mint and showcase their artwork on Behance.

The initiative allows creators to showcase their creations on an eco-conscious and low-fee alternative to Ethereum. Successively, tens of thousands of wallets are already in connection to Behance. Which shows the impressive demand around the initiative. The makers are optimistic considering Polygon’s low-cost and composable network, with Behance’s NFT functionality.

Conversely, Land Orc has made its way to the Polygon ecosystem. Which will be bringing DeFi to real estate lending for the first time with NFTs as collateral. Coming to analytics, mints on Polygon via NFT Port recently hit 1M NFT mints. On the other hand, the Polygon network saw 467k users on the PoS chain the other day. Which is the highest since January.

The daily transaction chart of Polygon’s PoS chain sees numbers rising steadily. The total transactions as of March 9th records numbers at 3,501,514, with an addition of 46,117 new addresses. The transfer of ERC-20 tokens on a daily basis has been volatile of late. The total token transfers have taken yet another plunge to 1,574,188 on the 9th of March.

MATIC’s Price Trajectory!

  MATIC price at the time of press is changing hands at $1.44, which is down 6.2% over the day. The market cap is presently hovering around $9,847,076,907, while the volume of trades around the clock is at $1,184,481,184. MATIC price has been trading in the 24-hour bandwidth from the lows of $1.42 to the highs of $1.54.

MATIC price has been oscillating around $1.4 to $1.8 for the past few weeks. And has been lacking the impetus to break through the downtrend. However, the digital asset is holding onto its support levels around $1.40. While the digital asset has been constructing numbers to stabilize its candles. MATIC price would need to build up higher highs for an upswing.

Concluding, we can expect MATIC to consolidate even further, prior to breaking the downtrend line. Conversely, the diverse sectors of the industry are evolving to be the network’s strengths. Which will eventually bear fruits in the longer run. That said, one of Polygon’s major catalysts, which is Hermez, is about 3-months away from its zk-EVM on testnet.

Show More

Was this writing helpful?

dislikeimage No myImage Yes

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

Related Articles

Back to top button