Despite in Bear Market, Why MATIC (Polygon) is getting bullish sentiment and its price skyrocketing?
Matic has been all over the headlines from a recent few days since when the popular tech giant Meta's subsidiary company Instagram announced its plans to mint, buy and sell the polygon-powered digital collectibles and NFTs on its platform. As per Meta, the trials will be started soon for the US users and will be expanded soon in other countries as well. This will make it easier for artists and collectors to connect and explore the experience of digital artwork more seamlessly.
Matic has grown over 30% in the last week, seeing a massive jump in its price from $0.84 to $1.27. The polygon team has been actively working on its ecosystem development and partnerships are the reasons why Matic is smashing the price charts. A few partnerships, the polygon team has made this year include Instagram, RobinHood, Starbucks, Nothing, Walt Disney, Reddit, Stripe, eBay, NFL, Tether, Adidas, Prada, Adobe, Liverpool FC, Opera, ApeCoin, Uniswap, Sandbox, Decentraland, Bitpay, Mercedes-Benz and a lot more.
Polygon's positive developments and bullish sentiment show its price may rise up to $1.25 - $ 1.30 or more if there have been more positive updates in the near future. Else, it could fall to $1.05 - $1.10 depending upon the Fed's next meeting. As of now, at the time of writing this article Matic is trading at $1.20 and ranked #11 on CMC with a market capitalization of $10.4 Billion.
>> Disclaimer:- Cryptocurrency Investment is subject to high market risk. The information on our website is for educational purposes only. Please do your own research before investing anywhere, we will not be responsible for your investment losses.