Polygon (MATIC) Scores 60%, Optimization in Crypto Market and Collaboration with Disney’s in Play
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- Polygon has risen to 12th place, with a live market value of $7,579,262,606.
- The cryptocurrency market has been flashing green, rising by about 5% in the last 24 hours.
- Polygon will also be a part of Disney’s Disney Accelerator Program in 2022.
Cryptocurrency Market In Green
Since the start of the day, the cryptocurrency market has been flashing green, rising by about 5% in the last 24 hours. Due to the ongoing market recovery, digital assets such as Bitcoin, Ethereum, and many others have recently gained significant value. Polygon (MATIC) is one of those that has increased by more than 60% in the last week.
MATIC’s price is rising, indicating a bullish run and maintaining strong, consistent momentum. Even though the value of other cryptocurrencies has dropped significantly since July, MATIC is one of the most profitable cryptocurrencies in the ecosystem, defying the trend.
Polygon (MATIC)’s Partnership & Collabrations
Recent developments in the Polygon network may be a factor that helps Polygon maintain its bid. This month, a partnership with Nothing (a consumer electronics company headquartered in the United Kingdom) was announced. Nothing, a London-based company that breaks down technological and human barriers, aims to create a seamless digital future. According to the most recent report, the Polygon will also be a part of Disney’s Disney Accelerator Program in 2022.
As a result, these encouraging results boost the project’s reputation and help the development team find new ways to expand the ecosystem. The recent strong performance of the MATIC token demonstrates that Polygon network users are also responding positively to these innovations.
Furthermore, Polygon has formed alliances with organizations such as Coca-Cola, which unveiled a pride series nonfungible token (NFT) collection on the network, and Reddit, which announced on July 7 that it would launch an NFT market on the Polygon network.
An uptrend in Bitcoin & Ethereum Underpins Polygon (MATIC)
The rising value of the world’s two largest crypto coins, BTC and ETH, also contributed to the rise of the Polygon coin. Bitcoin broke through the $23,000 barrier. If BTC remains above the $22,500 support level, it may rise to $24,000.
Meanwhile, the market value of Ethereum has surpassed $190 billion after rising above $1,500. The digital asset had recovered by more than 40% and had made some of the most significant gains in recent weeks. As a result, the asset has become more dominant across the industry.
Weaker US Dollar Underpins MATIC/USD
The falling value of the US dollar was another important factor that kept Polygon’s prices high. The US dollar lost traction as the common currency drew additional bids. It extended its overnight gain on relief that Europe may not face the worst energy shortages. Moreover, the possibility that the European Central Bank will deliver a more aggressive rate hike weighed on the US dollar.
