Polygon Touched Another ATH at $2.91; Should You Buy MATIC?

  • MATIC recorded a new ATH of $2.92.
  • The alternative token has possibilities of exploring further surges before this year’s end.
  • The run-up saw Polygon claiming the 14th spot in the crypto-list by market cap.

Polygon (MATIC/USD) is a scalability blockchain network and a framework connecting and building Ethereum-compatible blockchain networks. It’s a Layer2 aggregator that targets to formulate a multi-chain network of ETH-compatible blockchain with a high interoperability level.

Increased Interest Catalyze MATIC’s Growth

Polygon price presented a lucrative buy opportunity last month. That was after Ether whales bought 7.3M MATIC tokens. On 22 December, Polygon tweeted that the successful governance with more than 72 million subsidiary votes, Uniswap (UNI) launched on Polygon. According to NarbTrading 23 December tweet, MATIC monthly non-fungible tokens (NFTs) sold attained a new peak in December, touching 1.3 million.

On 27 December, Polygon Studio revealed that GurdianLink is empowering developers using the NFTs launchpad. Keep in mind that GuardianLink created tech infrastructure for the NFT commerce to achieve mainstream.

These positive developments have had MATIC enjoying increased interest, contributing to the token’s growth.

Should You or Anyone Purchase MATIC?

Polygon (MATIC) traded near $2.82 on 27 December. Meanwhile, let us explore the asset’s journey to ATH and price actions within the past month for what the future might hold. Polygon attained its record high on 27 December when it touched the $2.92 value area.

The asset recorded its highest level over the previous month on 3 November, trading around $2.11. Meanwhile, MATIC hit its lowest mark on 18 November after dropping to the price area of $1.47. That way, the token lost 30% or $0.64 of value from 3 November to 18 November.

Nevertheless, MATIC surged 91% or $1.35 from 18 November to 27 December. IntoTheBlock data indicated Polygon witnessed $3.49B in a transaction worth more than $100K over the past week. Furthermore, Polygon has $711.4 million overall exchanges inflows, while the outflows stood at $645.1 million.

With such developments, Polygon (MATIC) can hit $3 before December end, making it a valuable buy. Nevertheless, the crypto market has been and will always be volatile. Be careful when interacting with the space. You can take advantage of a platform like eToro and bitFlyer to buy your MATIC tokens.

Editorial credit: Dennis Diatel / shutterstock.com

Leave a Reply

Your email address will not be published. Required fields are marked *