Polygon (MATIC) surpassed expectations with regards to its trading price as it ended up being the top gainer in a seven-day period right now among the top 15 cryptocurrencies in terms of market capitalization.<\/p>\n
Trading at $1.11 according to latest tracking from Coingecko<\/a> at press time, the altcoin managed to climb by 26% for the past week. Its biweekly and monthly performances are also impressive, increasing by 23% and 35%, respectively.<\/p>\n Here\u2019s a quick glance at how MATIC is ushering the new month.<\/p>\n Polygon continues to hold the crucial $1 territory to preserve hopes of another bullish run Those numbers could have been higher if MATIC was able to sustain its surge today that allowed it to peak at $1.28. It has declined by 8.6% since then.<\/p>\n Now, the crypto\u2019s focus must be on maintaining the $1 marker as doing so will boost its chances of hitting higher prices such as the coveted $1.5 region.<\/p>\n Altcoins had a remarkable run last week with many of them tallying significant price pumps. Ethereum was able to surpass the $1,600 marker and the maiden crypto, Bitcoin, was able to reclaim the $21K territory.<\/p>\n However, the crypto space if off to a rocky and shaky start this week as its frontrunners started to enter their respective price correction phases.<\/p>\n Bitcoin, for instance, is trading at $19,701 at the time of writing while Ethereum fell below the $1,500 marker to change hands at $1,475.<\/p>\n Polygon, on the other hand, remains steady<\/a> for now as it is still above the $1 marker. This is crucial as this could mean the crypto is priming itself for another bullish breakout soon.<\/p>\n If MATIC is successful on this end, it could hit the $1.5 resistance region and even test the $2 territory. Should that happen, the altcoin will be within striking distance of its all-time high (ATH) of $2.92 which it achieved in December last year.<\/p>\n However, if the cryptocurrency crumbles and fall below $1, its most likely destination is the $0.8 support level.<\/p>\n Source: TradingView<\/p>\n Perhaps one of the reasons why MATIC is able to turn back the creeping bearish momentum<\/a> that is looking to take over the crypto marker once again is its network\u2019s efforts to partner with well-established companies.<\/p>\n Just last week, on Thursday, the Polygon chain announced its partnership with Meta-owned Instagram, giving its users the ability to mint and eventually sell non-fungible tokens (NFTs)<\/a> through the its platform.<\/p>\n Moreover, on that same day, global financial institution JPMorgan Chase used the Polygon blockchain<\/a> network to execute its first transaction in a decentralized finance (DeFi) environment.<\/p>\n These positive stimuli continue to keep MATIC\u2019s head above waters as the larger crypto market is once again sailing on a sea of red.<\/p>\n\n MATIC market cap at $10.19 billion on the daily chart | Featured image from The Economic Times, Chart: TradingView.com<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Polygon (MATIC) surpassed expectations with regards to its trading price as it ended up being the top gainer in a seven-day period right now among the top 15 cryptocurrencies in terms of market capitalization.<\/p>\n Trading at $1.11 according to latest tracking from Coingecko<\/a> at press time, the altcoin managed to climb by 26% for the past week. Its biweekly and monthly performances are also impressive, increasing by 23% and 35%, respectively.<\/p>\n Here\u2019s a quick glance at how MATIC is ushering the new month.<\/p>\n Polygon continues to hold the crucial $1 territory to preserve hopes of another bullish run Those numbers could have been higher if MATIC was able to sustain its surge today that allowed it to peak at $1.28. It has declined by 8.6% since then.<\/p>\n Now, the crypto\u2019s focus must be on maintaining the $1 marker as doing so will boost its chances of hitting higher prices such as the coveted $1.5 region.<\/p>\n Altcoins had a remarkable run last week with many of them tallying significant price pumps. Ethereum was able to surpass the $1,600 marker and the maiden crypto, Bitcoin, was able to reclaim the $21K territory.<\/p>\n However, the crypto space if off to a rocky and shaky start this week as its frontrunners started to enter their respective price correction phases.<\/p>\n Bitcoin, for instance, is trading at $19,701 at the time of writing while Ethereum fell below the $1,500 marker to change hands at $1,475.<\/p>\n Polygon, on the other hand, remains steady<\/a> for now as it is still above the $1 marker. This is crucial as this could mean the crypto is priming itself for another bullish breakout soon.<\/p>\n If MATIC is successful on this end, it could hit the $1.5 resistance region and even test the $2 territory. Should that happen, the altcoin will be within striking distance of its all-time high (ATH) of $2.92 which it achieved in December last year.<\/p>\n However, if the cryptocurrency crumbles and fall below $1, its most likely destination is the $0.8 support level.<\/p>\n Source: TradingView<\/p>\n Perhaps one of the reasons why MATIC is able to turn back the creeping bearish momentum<\/a> that is looking to take over the crypto marker once again is its network\u2019s efforts to partner with well-established companies.<\/p>\n Just last week, on Thursday, the Polygon chain announced its partnership with Meta-owned Instagram, giving its users the ability to mint and eventually sell non-fungible tokens (NFTs)<\/a> through the its platform.<\/p>\n Moreover, on that same day, global financial institution JPMorgan Chase used the Polygon blockchain<\/a> network to execute its first transaction in a decentralized finance (DeFi) environment.<\/p>\n These positive stimuli continue to keep MATIC\u2019s head above waters as the larger crypto market is once again sailing on a sea of red.<\/p>\n
\nA decline below $1 could mean a revisit to $0.8 support region for MATIC
\nThe altcoin is up by 26% over the last seven days, surpassing Bitcoin and Ethereum in this department<\/p>\nPolygon Shrugs Off Shaky Start For Crypto Space This Week<\/h2>\n
Partnership With Large Businesses Paying Off For Polygon<\/h2>\n
\nA decline below $1 could mean a revisit to $0.8 support region for MATIC
\nThe altcoin is up by 26% over the last seven days, surpassing Bitcoin and Ethereum in this department<\/p>\nPolygon Shrugs Off Shaky Start For Crypto Space This Week<\/h2>\n
Partnership With Large Businesses Paying Off For Polygon<\/h2>\n