• Market Cap: $1,147,815,099,082.19
  • 24h Vol: $39,194,892,900.93
  • BTC Dominance: 44.72%
XBT.Market
Advertisement
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us
No Result
View All Result
XBT.Market
No Result
View All Result
Home Bitcoin

3 reasons why Polygon (MATIC) is up 100%+ during a bear market

Jon Hartney by Jon Hartney
July 14, 2022
in Bitcoin, Blockchain, Business, Market
0
3 reasons why Polygon (MATIC) is up 100%+ during a bear market
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Steady adoption and internal growth back MATIC’s 118% gain, even as most altcoins struggle to hold on to their short-term gains.

Unlike bull markets where traders can basically throw a dart at a list of coins to pick one that will go up, bear markets require much more effort to find projects that could perform well over the long-run.

One project that has continued to show signs of mainstream adoption despite the onset of a crypto winter is Polygon (MATIC), a layer-two scaling solution for the Ethereum (ETH) network that is looking to build a sustainable Web3 infrastructure on the top smart contract platform.

Related articles

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

June 8, 2023
Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

June 8, 2023

Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.316 on June 18 during the worst of the crypto market sell-off, MATIC has climbed 118% to $0.70 where the price now sits at a major support and resistance level that first appeared in March 2021.

MATIC/USDT 1-day chart. Source: TradingView

Three reasons why the long-term outlook for Polygon remains positive include its continued adoption by mainstream entities, the migration of multiple projects to the Polygon network and an increase in the platforms offering liquid staking services for MATIC.

Major adoption announcements

Adoption by influential mainstream companies is one of the best forms of marketing that a blockchain platform can receive as it exposes them to a large pool of potential users.

In the past few months, Polygon has established partnerships with Coca-Cola, which released a pride series NFT collection on the network and Reddit, which announced that it was launching an NFT marketplace on the Polygon network on July 7.

Most recently, it was announced that Polygon has been selected by Disney to be the only blockchain included in the 2022 Disney Accelerator program, a “business development program designed to accelerate the growth of innovative companies from around the world.”

Interrupting the #GreenBlockchainSummit for some breaking news!

We’re excited to be the only blockchain chosen to be a part of the Disney Accelerator program. https://t.co/LaGU4bhidi

— Polygon – MATIC (@0xPolygon) July 13, 2022

Protocols launch on Polygon

Further evidence of the rising popularity of Polygon as a go-to scaling solution for Ethereum has been the steady migration and integration of projects with the L2 network.

48 Projects are landing on @0xPolygon with OnePlanet

Thanks to all the Ark*One partner projects and @polygonstudios, we are all moving together to rebuild and grow the NFT ecosystem #onPolygon

Read the full recap on Ark*One: https://t.co/lxTh6WVRJB pic.twitter.com/hnDtzmSA9S

— OnePlanet ˡᵃⁿᵈⁱⁿᵍ ᵒⁿ ᴾᵒˡʸᵍᵒⁿ (@OnePlanet_NFT) July 8, 2022

Aside from the recent NFT projects that have migrated to Polygon, other new additions include the permissionless, credit protocol RociFi, and WOO network’s multi-chain decentralized exchange.

MATIC has also seen a growing number of platforms that offer liquid staking for the token which enables holders to earn staking rewards.

2/3 Farming opportunities:@LidoFinance & @BalancerLabs – 12% APY@Stader_Polygon & @Meshswap_Fi – 13% APY@Claystack_HQ – 9% APY@ankrstaking – 9% APY

— DeFi Pulse (@defipulse) July 12, 2022

Related: Terra projects band together in migration to Polygon ecosystem

Traders expect resistance at $0.75

As for what comes next for MATIC price, market analyst and pseudonymous Twitter user Crypto Tony posted the following chart suggesting that the token could head higher toward resistance at the $0.75 level.

MATIC/USDT 4-hour chart. Source: Twitter

Crypto Tony said,

“Looking for a flip of the EQ up to the range high. Would love to see us consolidate a bit longer underneath this area.”

This outlook was further reinforced by Trader McGavin, who posted the following chart noting that MATIC is “Filling out the ascending triangle and looks ready to breakout in the coming days.”

MATIC/USDT 1-day chart. Source: Twitter

Trader McGavin said,

“A breakout would open up a move to $0.80 and then $1. Ton of positive catalysts over the last few weeks driving this big move off the lows.”

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Read Entire Article
Tags: CointelegraphCryptocurrencyInvestmentMining Bitcoin
Share76Tweet47

Related Posts

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

by Jon Hartney
June 8, 2023
0

Enjin chief technology officer Witek Radomski said the new blockchain aims to promote creativity by facilitating the

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

by Jon Hartney
June 8, 2023
0

The US House Committee explores blockchain and Web3’s future as industry leaders testify on democratizing the

US federal court dismisses lawsuit against DeFi platform PoolTogether

US federal court dismisses lawsuit against DeFi platform PoolTogether

by Jon Hartney
June 8, 2023
0

The DeFi community funded the protocol's legal defense through a $14 million nonfungible token sale back in 2022

EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

by Jon Hartney
June 8, 2023
0

The largest European consumer rights group alleges crypto marketers on popular social networks use misleading

GameStop fires CEO Matt Furlong months after axing crypto push

GameStop fires CEO Matt Furlong months after axing crypto push

by Jon Hartney
June 8, 2023
0

The executive, once instrumental to the company’s NFT efforts, was “terminated” amid lackluster Q1 earnings

Load More
  • Trending
  • Comments
  • Latest
NEXO risks 50% drop due to regulatory pressure and investor concerns

NEXO risks 50% drop due to regulatory pressure and investor concerns

September 30, 2022
51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

51% of Ethereum blocks are now compliant with OFAC standards, raising censorship concerns

October 14, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

July 7, 2022
Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

Zero-knowledge KYC could solve the privacy vs compliance conundrum: VC partner

October 11, 2022
All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

All aboard! Elon Musk’s Vegas Loop now taking Dogecoin payments

0
Crypto owners banned from working on US Government crypto policies

Crypto owners banned from working on US Government crypto policies

0
Korean startup Uprise lost $20M shorting LUNC

Korean startup Uprise lost $20M shorting LUNC

0
Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

Ethereum testnet Merge mostly successful — ‘Hiccups will not delay the Merge.’

0
NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

NFT platform Enjin forks Polkadot parachain Efinity to new mainnet

June 8, 2023
Polygon Labs president testifies on democratizing the internet with Web3, blockchains

Polygon Labs president testifies on democratizing the internet with Web3, blockchains

June 8, 2023
US federal court dismisses lawsuit against DeFi platform PoolTogether

US federal court dismisses lawsuit against DeFi platform PoolTogether

June 8, 2023
EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter

June 8, 2023

XBT.Market

This website is an automated news feed powered by the Nebulome cloud system. The site is made possible by YYC TECH Consulting and Alberta Digital Mining Company. As a team with major crypto and bitcoin enthusiasm, we have curated major sources of news, trading and financial data to bring you, our viewer, an unbiased source of truth.

Recent Posts

  • NFT platform Enjin forks Polkadot parachain Efinity to new mainnet June 8, 2023
  • Polygon Labs president testifies on democratizing the internet with Web3, blockchains June 8, 2023
  • US federal court dismisses lawsuit against DeFi platform PoolTogether June 8, 2023
  • EU watchdog targets crypto ads on Instagram, Youtube, TikTok, Twitter June 8, 2023
  • GameStop fires CEO Matt Furlong months after axing crypto push June 8, 2023

News Categories

  • Bitcoin
  • Blockchain
  • Business
  • Market

Tags

bitcoinMagzine Cointelegraph Cryptocurrency insidebitcoins Investment Mining Bitcoin NewsBTC

Quicklinks

  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market - Powered by YYC Tech Consulting & ADMCO.

No Result
View All Result
  • Home
  • Coins MarketCap
  • Crypto Exchanges
  • Crypto Calculator
  • Top Gainers and Loser
  • News
  • Contact Us

© 2022 Xbt.Market by Nebulome.

  • bitcoinBitcoin(BTC)$26,464.00-0.70%
  • ethereumEthereum(ETH)$1,844.83-0.80%
  • USDEXUSDEX(USDEX)$1.07-0.53%
  • tetherTether(USDT)$1.000.00%
  • binancecoinBNB(BNB)$263.00-3.75%
  • usd-coinUSD Coin(USDC)$1.000.01%
  • rippleXRP(XRP)$0.52-1.30%
  • staked-etherLido Staked Ether(STETH)$1,841.94-1.00%
  • cardanoCardano(ADA)$0.327352-3.34%
  • dogecoinDogecoin(DOGE)$0.0680720.11%
  • solanaSolana(SOL)$18.75-5.49%
  • matic-networkPolygon(MATIC)$0.78-1.64%
  • tronTRON(TRX)$0.0776100.18%
  • litecoinLitecoin(LTC)$88.11-1.68%
  • polkadotPolkadot(DOT)$5.02-2.03%
  • binance-usdBinance USD(BUSD)$1.00-0.14%
  • avalanche-2Avalanche(AVAX)$13.94-3.26%
  • shiba-inuShiba Inu(SHIB)$0.000008-0.16%
  • daiDai(DAI)$1.00-0.12%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$26,548.00-0.30%
  • uniswapUniswap(UNI)$4.63-1.82%
  • leo-tokenLEO Token(LEO)$3.540.38%
  • chainlinkChainlink(LINK)$5.99-1.68%
  • cosmosCosmos Hub(ATOM)$9.57-3.94%
  • okbOKB(OKB)$44.51-1.32%
  • moneroMonero(XMR)$144.66-0.90%
  • Aerarium FiAerarium Fi(AERA)$7.14-13.11%
  • ToncoinToncoin(TON)$1.65-0.21%
  • ethereum-classicEthereum Classic(ETC)$16.98-1.08%
  • stellarStellar(XLM)$0.087094-1.98%
  • bitcoin-cashBitcoin Cash(BCH)$111.83-0.20%
  • true-usdTrueUSD(TUSD)$1.00-0.20%
  • lido-daoLido DAO(LDO)$2.18-7.81%
  • internet-computerInternet Computer(ICP)$4.16-3.68%
  • filecoinFilecoin(FIL)$4.13-3.98%
  • quant-networkQuant(QNT)$111.30-4.18%
  • AptosAptos(APT)$7.76-3.12%
  • crypto-com-chainCronos(CRO)$0.059437-0.45%
  • hedera-hashgraphHedera(HBAR)$0.048522-1.51%
  • GGTKNGGTKN(GGTKN)$0.1121180.75%
  • ArbitrumArbitrum(ARB)$1.13-2.06%
  • nearNEAR Protocol(NEAR)$1.42-3.73%
  • vechainVeChain(VET)$0.017823-3.49%
  • apecoinApeCoin(APE)$2.90-2.15%
  • the-graphThe Graph(GRT)$0.113821-2.14%
  • paxos-standardPax Dollar(USDP)$1.00-0.11%
  • fraxFrax(FRAX)$1.00-0.34%
  • EdgecoinEdgecoin(EDGT)$1.00-0.03%
  • eosEOS(EOS)$0.891.19%
  • rocket-poolRocket Pool(RPL)$47.43-1.68%
  • blockstackStacks(STX)$0.650.11%
  • the-sandboxThe Sandbox(SAND)$0.487882-4.40%
  • elrond-erd-2MultiversX(EGLD)$35.12-2.62%
  • algorandAlgorand(ALGO)$0.123765-6.93%
  • optimismOptimism(OP)$1.38-2.00%
  • Rocket Pool ETHRocket Pool ETH(RETH)$1,981.41-0.74%
  • aaveAave(AAVE)$59.54-2.12%
  • render-tokenRender(RNDR)$2.24-3.75%
  • fantomFantom(FTM)$0.292826-2.22%
  • tezosTezos(XTZ)$0.84-3.10%
  • decentralandDecentraland(MANA)$0.419128-5.00%
  • theta-tokenTheta Network(THETA)$0.76-2.31%
  • usddUSDD(USDD)$1.00-0.11%
  • immutable-xImmutableX(IMX)$0.72-0.39%
  • axie-infinityAxie Infinity(AXS)$6.24-4.80%
  • BitDAOBitDAO(BIT)$0.482957-1.46%
  • WhiteBIT TokenWhiteBIT Token(WBT)$4.820.10%
  • radixRadix(XRD)$0.0671280.60%
  • havvenSynthetix Network(SNX)$2.13-4.22%
  • Bitget TokenBitget Token(BGB)$0.4819540.99%
  • kucoin-sharesKuCoin(KCS)$6.84-2.78%
  • flowFlow(FLOW)$0.63-4.33%
  • neoNEO(NEO)$9.02-2.87%
  • galaGALA(GALA)$0.026132-2.12%
  • CloutContractsCloutContracts(CCS)$52.461,000.00%
  • curve-dao-tokenCurve DAO(CRV)$0.76-2.45%
  • bitcoin-cash-svBitcoin SV(BSV)$30.35-0.38%
  • gemini-dollarGemini Dollar(GUSD)$1.00-0.16%
  • terra-lunaTerra Luna Classic(LUNC)$0.0000990.88%
  • gatechain-tokenGate(GT)$4.08-1.09%
  • makerMaker(MKR)$629.27-0.41%
  • injective-protocolInjective(INJ)$6.87-4.15%
  • kavaKava(KAVA)$0.97-15.26%
  • klay-tokenKlaytn(KLAY)$0.166096-6.71%
  • marumaruNFTmarumaruNFT(MARU)$0.24991121.40%
  • bittorrentBitTorrent(BTT)$0.0000010.49%
  • iotaIOTA(MIOTA)$0.178952-2.05%
  • pax-goldPAX Gold(PAXG)$1,921.59-0.60%
  • Tokenize XchangeTokenize Xchange(TKX)$6.13-2.98%
  • casper-networkCasper Network(CSPR)$0.0442280.31%
  • compound-ethercETH(CETH)$37.05-0.72%
  • conflux-tokenConflux(CFX)$0.230145-4.34%
  • tether-goldTether Gold(XAUT)$1,945.92-0.77%
  • xdce-crowd-saleXDC Network(XDC)$0.0344983.10%
  • chilizChiliz(CHZ)$0.087812-4.15%
  • huobi-tokenHuobi(HT)$2.84-1.40%
  • PepePepe(PEPE)$0.000001-2.62%
  • binaryxBinaryX(BNX)$165.90-5.97%
  • gmxGMX(GMX)$51.26-2.48%
  • mina-protocolMina Protocol(MINA)$0.490366-2.65%