Polygon (MATIC) Prices in Red Despite Recent Developments

Circle Announces Support For Polygon USDC on Its Payment Platform
  • Polygon has managed to keep its network secure even on Supernet chains.
  • Polygon is down 2.91% in the last 24 hours.

The $100 million funds and the launch of Polygon Supernet show Polygon’s commitment to making the crypto industry more accessible to new levels. This money will be put to good use in the form of grants, contracts, integrations, and acquisitions related to research and development.

Polygon Supernets

In essence, Polygon Supernets are blockchain networks that will make Polygon more widely used. A particular application or project focuses on these Supernets’ design and creation. On the other hand, Polygon has managed to keep its network secure even on Supernet chains thanks to a MATIC-staked validator marketplace. No specific projects are responsible for this security since Polygon validators will continue to stake MATIC and get rewards in MATIC as they have before.

Polygon is also collaborating with Stripe to pay out crypto revenues in USDC to vendors and content producers on Polygon for even greater adoption, enabling rapid payment. Saturday’s trading saw MATIC’s price continue to fall around its crucial support level. Between $1.30 and 1.75, the price has moved since late January. Even though the MATIC price is precarious, its most recent next directional move favors bulls.

MATIC/USDT: Source: TradingView

Since December 28, the MATIC price has declined on the daily chart after hitting the swing highs at $2.92. Bulls also have to contend with the declining trend line. Since December’s record highs, the price has fallen by 66%. According to CMC, the Polygon price today is $1.35 USD with a 24-hour trading volume of $383,957,292 USD. Polygon is down 2.91% in the last 24 hours.

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