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Polygon $MATIC Prices Have Surged By 8%, How Long Will It Last?

Manoj Nair



Polygon (MATIC)

As the market starts to loosen up and smile a bit, the values of the number 11-placed crypto asset, Polygon, are surging at a phenomenal pace. In the last 24 hours, the Polygon $MATIC prices have rushed by 8%.

When reports last came in, $MATIC changed hands at $0.8643. In the last 24 hours, it witnessed a 24 hrs. low of $0.8293 and a high of $0.876. $MATIC Market Cap stood at $7,549,139,332 up by 4.32% and its 24 hrs. Volume stood at $479,018,823 up 116%.

However, Polygon’s meteoric rise is not a fluke but the result of a series of partnerships and integrations. The most significant advantage of the Polygon Platform is that it enables developers and organizations to launch dApps on Ethereum. It also allows developers to optimize their decentralized applications to be scalable and cost-effective. Polygon is striving to become the third biggest crypto asset after Bitcoin (BTC) and Ethereum.

Why Is Polygon $MATIC Wooing Everyone?

Polygon initiated a series of amalgamations and partnerships, including integrating the leading multi-chain payment solution Utrust. Utrust will enable USDT payments on Polygon, enabling cheaper fees and faster transactions. Another important partnership was concluded between Polygon and SuperLayer, a leading Web3 venture studio.

Another critical factor augmenting the values of Polygon is the significant adoption. As per data received from Alchemy, over 53,000 decentralized applications have been launched on the Polygon network constituting a giant eight-fold surge from the start of 2022. A 60% increase since June, including dApps live on both the mainnet and the testnet.

How Long Will Polygon $MATIC Rally last?

Though Polygon is pulling the correct plugs to start a rally, a lot will depend on microeconomic factors, including the Fed Reserve’s action and the cooling down of the dollar on a rampage.

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