Price Analysis

Polygon Launches the first CCS Web3 Project, but the MATIC Price Remains a Challenge

Author: Sahana Vibhute

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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.

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One of the most popular layer-2 chains on ethereum , Polygon is heading to become the leader of the web3 space. For the first time in its history, the platform is all set to roll out an officially verified carbon standard, the Coorest Carbon Standard (CCS), called the Coorest. In a recent update, polygon  announced its collaboration with Coorest to bring sustainability into the Web3 space. 

The COOREST project is a new standard and methodology for carbon compensation based on blockchain.com technology and geospatial satellite data. The CSS is certified by a United Nations auditor, which makes it a legitimate carbon compensation method. Polygon is not only carbon neutral but also intends to strengthen the Web3 space. 

Coorest removes the intermediaries and allows everyone with an internet connection to compensate for their carbon footprint. Hence, the creation of an on-chain alternative to the conventional carbon offset market will help Web3 projects achieve carbon neutrality. 

MATIC Price Analysis

  • The MATIC price is currently trading within a bullish ascending triangle, attempting to rebound from the lower support of the triangle
  • The asset has been hovering along these levels for a few days now and preparing to surge high to reach the initial target at $0.8
  • In the coming days, the MATIC price could rebound from the lower support and head towards the upper resistance of the triangle and try to breach the levels
  • However, the bears may restrict the Polygon (MATIC) price as the resistance levels collide along the crucial milestone around $1.

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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.

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