The crypto-verse has been yearning for a catapulting flight into the stratosphere. They yearn for what has been intensifying since the implementation of the executive order. Which has been fueling optimism in the crypto fraternity. Therefore, cryptocurrency investors and traders are interested in investing in potential digital assets.
Consequently, the prominent layer 2 protocol Polygon is under active consideration by money creators. Who is interested in MATIC price foot movements and network chain analysis. In addition to the network’s emerald stock, Polygon partners with Behance. Which will support the minting of NFTs on the network.
Will these stimulants trigger Polygon’s bull run?
In its routine collaborations, Polygon has teamed up with a big name in the tech industry. What is Behance, Adobe’s social media platform for creators. Behance will add support for the NFT mint on the Polygon network. With the help of OpenSea, artists and creators will be able to mint and display their artwork on Behance.
The initiative allows creators to showcase their creations on a low-cost, eco-friendly alternative to Ethereum. Successively, tens of thousands of wallets are already connected to Behance. Which shows the impressive demand around the initiative. The creators are optimistic considering Polygon’s low-cost, composable network, with Behance’s NFT functionality.
On the contrary, Land Orc has come to the Polygon ecosystem. Which will bring DeFi to real estate lending for the first time with NFT as collateral. Looking at analytics, mints on Polygon via the NFT port recently hit 1 million NFT mints. On the other hand, the Polygon network saw 467k users on the PoS chain the other day. Which is the highest since January.
Polygon’s PoS chain daily transaction chart shows a steady increase in numbers. Total transactions as of March 9 register figures of 3,501,514, with an addition of 46,117 new addresses. The daily transfer of ERC-20 tokens has been volatile lately. Total token transfers have plunged back to 1,574,188 on March 9.
MATIC price track record!
MATIC price at press time is changing hands at $1.44, down 6.2% on the day. The market capitalization is currently hovering around $9,847,076,907, while the trading volume throughout the day is $1,184,481,184. MATIC price has been trading on the 24-hour bandwidth from lows of $1.42 to highs of $1.54.
The price of MATIC has fluctuated between $1.4 and $1.8 for the past few weeks. And it has lacked the momentum to break the downtrend. However, the digital asset remains at its support levels around $1.40. While the digital asset has been building numbers to stabilize its candles. MATIC price would need to accumulate higher highs for a rally.
In conclusion, we can expect MATIC to consolidate further, before breaking out of the downtrend line. On the contrary, the various sectors of the industry are evolving to become the strengths of the network. Which will eventually pay off in the long run. That said, one of Polygon’s main catalysts, which is Hermez, is about 3 months away from their zk-EVM on testnet.
This post MATIC price will stay below $2 this Q1! Will this be the catalyst for a bullish bounce?
was published first on https://coinpedia.org/altcoin/matic-price-to-remian-under-2-will-this-be-the-catalyst-for-a-bullish-rebound/