Polygon (MATIC) is Pushed to an All-Time High Thanks to Positive Fundamentals

Share Article
In Brief
The Trust Project is an international consortium of news organizations building standards of transparency.

Polygon news: A series of positive fundamental development have sent Ethereum layer 2 aggregator Polygon’s native token to an all-time price high today.

Sponsored





Sponsored

Polygon’s native token, which is still called MATIC, reached an all-time high a few hours ago during the Thursday morning Asian trading session.

The token tapped a price of $2.70 after gaining more than 6% on the day and 26% over the past week. MATIC has been one of the top-performing crypto assets this year, largely defying the recent market correction.

Sponsored



Sponsored

MATIC’s first spike came in mid-May when it surged to $2.45. The token then dumped all the way back to $0.70 in late July before beginning its upward climb. At the beginning of this year, MATIC was trading at just $0.017. Since then it has surged a whopping 15,200% making it one of the best performing crypto assets in 2021.

MATIC/USD YTD – coingecko.com

At the time of writing the token was changing hands for $2.68 according to CoinGecko. It is ranked 14th in the market cap charts with $18.4 billion.

Polygon and Opera Tie Up

There have been several fundamental developments to drive momentum for MATIC and Polygon recently. On Dec. 22, the popular web browser Opera announced that it was integrating with Polygon to enable Ethereum layer 2 capabilities and Dapp access in its browser.

The integration will occur in the first quarter of 2022 and will enable millions of Opera users to access more than 3,000 Dapps on the Polygon network.

Opera already has a Web3 mobile browser with a built-in crypto wallet, so this will now provide faster and cheaper Ethereum transactions via the layer 2 network.

Jørgen Arnesen, Opera EVP Mobile, commented: “Our cooperation with Polygon will allow us to remove the biggest challenge that crypto-enthusiasts are now facing: high gas fees and slow transaction speeds.”

Uniswap Deployment

Also on Dec. 22, Uniswap Labs announced that it had deployed on to Polygon following overwhelming support from the community and governance. More than 72 million UNI tokens were submitted in support of the proposal with just 500K against it.

Users of the world’s most popular DEX will now have access to high-speed, low-cost transfers and token swaps via the layer 2 Polygon network.

Uniswap has already been deployed on two other layer 2 networks, Arbitrum and Optimism, and it has seen volume growth on both.

On Dec. 15 Polygon announced the launch of Polygon Token Swap, a new feature added to its native wallet enabling instant token swaps and a DEX aggregator. According to DappRadar, there is almost $4 billion in total value locked in various DeFi protocols on the Polygon network.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

Martin has been covering the latest developments on cyber security and infotech for two decades. He has previous trading experience and has been actively covering the blockchain and crypto industry since 2017.

Follow Author

Don’t get FUD! Win 1 ETH when you deposit $100 with Bybit!      

Join

FOMO no more. Win 1 BTC when you trade $100 on Bybit!      

Join

Bybit New Token Listing: Win In-Game NFTs and SIDUS Tokens.      

Win Now!