Several projects are creating a positive impact and increasing credibility to the holders and users. The network of some potential projects works on their advancements and updates to implement new features to its ecosystem. Polygon (MATIC) is an Ethereum token that is used to power the Polygon Network, an Ethereum scaling solution.
The platform extends its features by strengthening the Ethereum blockchain and other compatible networks’ interoperability. Moreover, MATIC has earned more traffic being consistent in price value. Its framework is structured to handle more volume and security than Ethereum and Bitcoin. Some features include low-cost transactions, seamless user experience, and easier horizontal scaling.
MATIC In A Bullish Run
MATIC became popular after the American crypto enthusiast Mark Cuban invested in it. This created a hype among the followers and crypto users which initiated a rise. Moreover, MATIC was rebranded as Polygon in February 2021. Polygon began to follow the bullish run after producing solutions for the challenges of Ethereum.
At the time of writing, MATIC is trading at $2.35 while its price action has already reached its ATH in December. Polygon was holding its support level at $2.36 where the current price value has dipped below the support zone. This might lead to a short-term bearishness and then pull up for a bullish rally. Though Polygon had a surging end of the year and a greenish chart for the start of the year. However, bearishness is not going to last long, MATIC’s price will surge up within a few months hitting a new ATH soon.
Furthermore, early investors have a good option as Polygon in their list to invest in. Besides, traders can give a try for long-term as well as short-term investments. The project has already generated a handful of returns to the holders but also has a chance of getting higher. As of now, it’s a solid opportunity for investors to purchase MATIC as it dipped below the support level. Traders can hold it for a long time and receive rewards.
