Polygon crypto price skyrockets as market conditions become more favorable. The prices of $MATIC have skyrocketed by 8% in the past 24 hours. It is currently trading at $0.8716. Despite the fact that the entire crypto market saw a relief rally, Polygon is definitely the biggest winner in the market.
Polygon’s strong market rally is the result of a series of partnerships and integrations. Polygon is a scalable platform that allows developers and organizations to launch dApps on Ethereum. It also allows them to optimize their decentralized applications to be scalable and cost effective. Polygon aims to become the third largest cryptocurrency after Bitcoin and Ethereum.
Why is Polygon winning the crypto market?
Polygon saw a series of integrations and partnerships. As CoinGape reported, the leading multi-chain payment solution Utrust announced integration on Polygon. Utrust has added support for USDT payments on Polygon, which also provides cheaper rates and faster transactions.
Similarly, Polygon announced its partnership with SuperLayer, a leading Web3 enterprise studio.
Polygon has also reached a major adoption milestone. More than 53,000 decentralized applications have been launched on the Polygon network, according to Alchemy. According to the company, this represents an 8X jump from the start of 2022 and a 60% increase since the month of June. This number includes dApps live on both the mainnet and the testnet.
Monthly active dApps were up 29% since the end of the last quarter.
The UP police also launched the first complaint portal on Polygon. This complaints portal is managed by the Web3 platform Airchains. Polygon crypto price continues to dominate the market through integrations and partnerships.
How Long Will Polygon Crypto Price Rise Last?
Polygon is the winner of the crypto market today. However, the entire market outlook depends on macroeconomic factors. The Federal Reserve continues to take an aggressive stance to curb inflation in the US. The US dollar continues to storm the stock market.
However, experts believe that Polygon remains crypto with strong fundamentals.
Nidhish is a technology enthusiast whose goal is to find elegant technical solutions to solve some of society’s biggest problems. He is a big proponent of decentralization and wants to work on the mainstream adoption of Blockchain. He also enjoys almost all popular sports and likes to talk about a wide variety of topics.
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.
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