MATIC Has Been Surging Lately – Is There A Reason For This?

The coin’s value has skyrocketed by around 45% in two days, a move that has raised questions about what could be attributed to these gains.

MATIC’s Rising Value

MATIC has been on a massive rally in the past two days, a move that has seen its prices almost going beyond the $1.50 mark. MATIC peaked in MAY when crypto bulls were at their strongest. This saw prices spike to an all-time high of $2.62 before a recession happened shortly after.

Unlike bitcoin and most cryptocurrencies’ MATIC’s dip was one of the largest in the crypto sector. Its prices fell by more than 75%, which is why the recent recovery in MATIC is one of the largest and most conspicuous across the entire market.

Why is MATIC’s Price Rising?

There are a number of reasons why MATIC has increased in value lately.

Growing Investor Interest

One of the main reasons behind the growing value in MATIC’s prices is the increased interest of investors in the network. Polygon stepped into the network to boost speed and offer cheaper transactions. This superiority of the network over Ethereum has had a positive impact on the prices of MATIC.

Because of this boom in Polygon’s network, the network’s buzz, even on social media platforms, has grown tremendously, contributing to increased demand for the MATIC coin.

Strategic Partnerships

Polygon has also joined hands with other leading networks to boost the size of its ecosystem. Some of the firms that have partnered with the Polygon network include M-Setu and Trace Network, which have worked with Polygon to launch DeFi projects that positively affect parties involved.

Notable Backing

One of the main reasons that have contributed to the gains in MATIC since May is the acceptance by Mark Cuban, a billionaire investor. Cuban has revealed that Polygon is among the investments held in his crypto portfolio. Such a significant endorsement boosts investor confidence about Polygon’s roadmap.

Market Support

Finally, MATIC’s prices are also rising because of the current support from the broader cryptocurrency market. The market has been on a strong bullish sentiment, which has positively impacted the values of other cryptocurrencies. This bullish trend is expected to progress for a while; hence MATIC’s gains could also go higher, and Polygon’s native token could reach $2.

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