• Polygon (MATIC) has seen a 50% growth in the past 30 days, putting its network value at $10,808,682,894.
• OpenSea platform surpassed Ethereum’s for two consecutive months, suggesting the potential for attracting developers and investors to the ecosystem.
•Polygon trading has led to $979k in liquidations in the past 24 hours, with a 24-hour trading volume of about $626,510,880.
Polygon (MATIC) is a scaling solution for Ethereum that has been gaining attraction from institutional investors looking to invest in the Web3 market. In the past 30 days alone it has seen an incredible 50% surge in its network value and total locked asset value of around $1.2 billion. The Polygon NFT market on OpenSea platform has also surpassed Ethereum’s for two consecutive months as well as producing significant liquidation of around $979k in the last 24 hours with a 24-hour trading volume of approximately $626 million.
Price Action & Market Outlook
The price of MATIC is showing evidence of an upward trend with higher highs and lows being produced alongside strong RSI indicators indicating bullishness towards the asset; however there are signs that a correction may be due soon if it falls below 1.8$ or there could be further momentum if it breaks above 1.28$.
In terms of liquidations MATIC is proving itself as an attractive option with 979k worth being reported over the last day alongside a healthy trading volume amounting to over six hundred million dollars in that same time frame making this one of the most popular choices among institutional investors right now.
Entanglefi V1 testnet went live on Polygon PoS recently and collaborations such as Quickswap DEX and Stargate Finance have been integrated into it offering users various options such as providing liquidity via Synthetic Vaults or borrowing against liquidity positions respectively.
All things considered Polygon (MATIC) is proving itself as an attractive option for institutional investors due to its rising popularity within Web3 projects and its continuing surge in network value and total locked asset values which are both indicative of future success for this scaling solution for Ethereum .