The post 5 Reasons to be Bullish on Polygon (MATIC) Price appeared on BitcoinEthereumNews.com.

The Poggon (MATIC) price has been increasing since the token rebranded to POL on September 13. The fresh start has given the project a new boost in its price action, but not before a quick sell-off on the launch day. This is because the new POL tokenomics show the token has an infinite supply, whereas MATIC had a 10 billion total supply. Nevertheless, POL has recovered from this initial shock, and the price found a bottom around $0.37 before it began to surge. 5 Reasons to be Bullish on Polygon (MATIC) Price Here’s a closer look at why MATIC price is poised for significant growth as the crypto market booms: 1. Growing Network The Polygon network is among the fastest-growing networks on the blockchain. According to Santiment, it grew by 1,019% over the last 30 days, making it the top crypto network with the highest growth, followed closely by WETH on the same network.  📈 The top networks in crypto by network growth over the past 30 days include: 1) Polygon Ecosystem $POL (+1,019% More New Addresses) 🥇2) WETH (On Polygon) $WETH (+263%) 🥈3) LayerZero (On Optimism) $ZRO (+254%) 🥉4) LayerZero (On Arbitrum) $ZRO (+219%) pic.twitter.com/lSjlc8kzIF — tanyel (@dalya_tanyel) September 27, 2024 An increase in network growth is a positive indicator, which means more users are joining and using the network, which can drive demand for the underlying crypto asset. More users typically lead to higher transaction volumes, positively impacting the network’s value and utility. 2. Polygon zkEVM Narrative Polygon is the only known blockchain working overtime to perfect the zkEVM technology, a layer 2 solution that will enable any network to function like the Ethereum Virtual Machine (EVM) with fast finality through off-chain transaction computations. This would be phase 1 for upgrading PoS to a full, ZK-powered L2. Core…

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Filed under: News - @ September 27, 2024 8:27 pm