The post Why Is the Polygon (MATIC) Price Up? appeared on BitcoinEthereumNews.com.

Polygon (MATIC) has been gaining a lot of attention lately as its price has been on the rise. Many investors and crypto enthusiasts are wondering what’s driving this upward trend. In this article, we’ll take a closer look at the reasons behind Polygon’s recent price boost, exploring factors like new partnerships, increased adoption, and positive market sentiment. Whether you’re a seasoned crypto follower or just curious about the buzz around Polygon, this article will break down what’s fueling MATIC’s growth in straightforward terms. How has the Polygon (MATIC) price moved recently? MATIC/USD Daily Chart- TradingView   Today, Polygon (MATIC) is priced at $0.374367, with a 24-hour trading volume of $90.14 million. It has a market cap of $1.01 billion, accounting for 0.04% of the overall market. Over the past 24 hours, Polygon’s price has risen by 11.14%. Polygon hit its all-time high of $2.91 on December 27, 2021. Its lowest recorded price was $0.003049 on May 9, 2019. Since reaching its peak, the lowest it has dipped was $0.322074, while the highest point following that low was $1.55935. Currently, the market sentiment for Polygon is neutral, with a Fear & Greed Index reading of 69, indicating a state of “Greed.” The circulating supply for Polygon stands at 2.70 billion POL out of a maximum 10 billion POL. Over the past year, the supply inflation rate was -66.25%, with a decrease of 5.30 billion POL in circulation. Why Is the Polygon (MATIC) Price Up? Polygon’s recent price rise is tied to several exciting developments that are strengthening its position within the Ethereum ecosystem. As a Layer 2 solution, Polygon helps tackle Ethereum’s high gas fees and slower transaction speeds, which are big concerns for developers working on decentralized apps. By offering a faster, cheaper way to build on Ethereum, Polygon has…

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Filed under: News - @ November 9, 2024 5:22 am