Polygon is among the platforms which hold immense strong fundamentals regardless of the price movements of its native token ‘MATIC’. The price experienced immense bearish action in recent times but the year 2023 ignited a notable upswing that is believed as a revival of a bullish trend. Despite the bearish interference, some indicators signal the uptrend may not stop until the MATIC price does not reach $2.
The Layer-2 chain has been holding a strong grip over the DeFi space with numerous projects and collaborations. The most recent to join the forces was a decentralized protocol Dopex Finance.
The MATIC price reacted positively and spiked notably which was also fueled by the bullish market sentiments during the past trading week. This comes soon after the chain completed its hard fork to increase the stability, and speed and also reduce the gas fees on the Ethereum chain.
In the meantime, MATIC’s price is displaying strong fundamentals as the positive sentiments prevail with the possibilities of a price continuing to swell in the coming days.
The MATIC price underwent a parabolic recovery to reach the pre-FTX price levels beyond $1.2 and appears to lay down a significant upswing after withstanding a minor bearish pressure. The RSI is maintaining the lower support at 60 and bouncing off at every contact pointing out toward the strength of the bulls and being self-assured of the impending rally towards the north.
Besides, MATIC has surpassed Shiba INU to become the most traded token of the top Ethereum whales, while the TVL of the Polygon chain has also surged notably. The social dominance of the token has also surged with a jump in the transaction volume. Hence considering all the factors, one of the top analysts believed the token to be featured in the top 5 very soon.
Moreover, Mike McGlone, a popular Bloomberg Strategist in his report says that Polygon has the 3rd-largest ecosystem for dApps with more developers compared to that rivals like Avalanche and Fantom. The report also highlights the growing adoption of corporate giants like Nike, Disney Starbucks, Coca-Cola, etc in form of collaboration.
“Based on Polygon’s string of brand-name partnerships in 2H22, this year could be the year of mainstream NFT adoption. The explosion in active users on the network stemmed from several blockbuster corporate partnerships struck by the company behind the network, Polygon Technology,”
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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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In recent years, a shift in the technological landscape has led to the rapid rise of polygon adoption. Once a niche market, polygons have evolved into an essential tool for industry professionals, developers, and students alike.
Polygons are a unique way to create 2-D and 3-D artwork. By combining points and edges, polygons can be used to define shape, motion, and other graphic elements. Polygons also help minimize file sizes and save storage space, making them ideal for video games, webpages, and other digital media.
The increasing popularity of polygon adoption is due to a few key reasons. First and foremost, 3-D technology and virtual reality have become more accessible for consumers. This has created a domino effect, inspiring game developers and artists alike to develop content that uses the polygon technique. Secondly, increased innovation in 3-D software has made it more accessible for people to create with polygons. Artists are able to produce higher quality and more realistic images, videos, and video games using polygons, helping increase the demand.
Polygon adoption has also been aided by an influx of capable tools to help create and utilize polygons. For example, the Unity, Unreal, and OS X development platforms have all incorporated polygons into their kits, making it easier than ever for students and artists to create content quickly. Additionally, there are a plethora of tutorials and guides on the web which can help creators quickly understand the fundamentals of one sprite.
In conclusion, polygon adoption is an incredibly useful and accessible tool for any and all content creators. With the rise in 3-D technology and virtual reality, these simple shapes have quickly become popular amongst industry pros, developers, and students alike. As software to help create polygons and tutorials to help understand them continue to become more available and easier to access, it’s safe to say that polygon adoption will continue to rise.
