Polygon Is up 0.18% – Time to Buy Matic

• Investors to buy MATIC as Poloniex Collaborates With Polygon To Empower Web3 Development
• SX Network Generates $9.5 Million Funding
• Polygon Welcomes Kronos DAO To Its Ecosystem

Polygon is a layer two or side chain scaling solution that functions alongside the Ethereum blockchain. The network allows users to interact with several crypto apps that were once exclusive to the main Ethereum network. One unique feature that has spurred investors to buy MATIC, Polygon’s token, is its transaction speed.

Although Polygon presently supports only Ethereum basechain, the network plans to expand support for more basechains. Polygon will become an interoperable decentralized Layer 2 blockchain platform if the network effectively carries out its plans.

Poloniex To Collaborate With Polygon To Empower Web3 Development

Polygon is set for big wins as it announces a partnership with Poloniex, a global cryptocurrency exchange. The primary aim of the collaboration is to foster Web3 development and adoption. This partnership will also cut across several other fields.

Shaun Scovil, Poloneix General Manager, stated that this new pact aims to push forward the Web3 ecosystem, using Polygon’s technology and insights. The partnership also seeks to provide more quality applications to both networks’ users.

Polygon’s scaling solution has gained widespread popularity with over 19,000 Dapps. The total transaction processed on the network stands at over 3.4 billion, with no less than 142 Jon unique user addresses.

SX Network Generates $9.5 Million Funding

SX Network recently disclosed that it has secured $9.5 million in a funding round. Investors can buy MATIC as the blockchain is set for new development.

SX Network stands out as the first blockchain constructed with Polygon Edge. The blockchain is a customizable framework that seeks to establish private or public Ethereum-compatible blockchain networks.

At the moment, the SX prediction market protocol has processed over 900,000 bets and $170 million in betting trade volume. Over $100 million of these trades occurred in the last six months.

According to the report, the SX Network fund will be used to pioneer new developments on the decentralised prediction market governance known as futurachy. In futurachy, users can bet on the future price of a colony’s token.

Polygon Welcomes Kronos DAO To Its Ecosystem

Kronos DAO, one of the largest DeFi 2.0 protocols, is coming to Polygon. The new alliance seeks to unlock potential for global outreach especially as both networks share similar aims – Web3 for all. Investors can buy Polygon as it continues to secure productive partnerships to expand its ecosystem.

Currently, Kronos DAO seeks to become the DeFi hub of the metaverse. The protocol is the number one decentralised reserve currency protocol on the Klaytn network.

Technical Analysis

At press time, MATIC trades at $0.92. In the last 24 hours, the crypto asset has been up 0.18%. The digital asset’s technical indicators reveal a bullish trend for investors who choose to buy MATIC.

Presently, MATIC trades within the 50% Fibonacci retracement threshold of $0.92. The digital asset shows a 50-day moving average value of $0.93 and a 50-day exponential moving average of $0.93. MATIC is currently trading below its long term indicators. This shows that the digital asset is yet to recover from the bears that have trailed it over the past few days.

The moving average convergence and divergence (MACD) indicator is positive, indicating a buy signal. In addition, Polygon’s relative strength index of 46.26 reveals that the token is trading in the underbought region. Investors can buy MATIC now and rise with the market.

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