Polygon (MATIC): Leadership in Blockchain Games Drives Price Increase
If you’ve been following the Layer-2 Polygon (MATIC) protocol, you may have noticed a recent surge in its price. A report highlighting its role in driving growth in the blockchain games industry has contributed to this increase. The dominant position has made it an attractive investment option for many. The price of Polygon increased by 10% to $0.97, following Game7 DAO’s research designating Polygon as the leading edge in Web3 games. Although most play-to-earn titles are built on Layer-1 chains like Ethereum, Polygon has revolutionized the landscape by hosting new blockchain games and outperforming rivals such as Binance Smart Chain and Ethereum in game development. This dominance gives Polygon a significant advantage for adoption and increased demand.
Moreover, growing institutional investment signals the increasing legitimacy of cryptocurrencies and Web3. Hence, Polygon’s rally reflects its solid position to capitalize on the growing interest in blockchain evolution.
Cardano (ADA): Adoption Growth Amid Price Consolidation Challenges
While Cardano’s price is currently undergoing a consolidation phase after failing to break through $40 resistance last week, the ecosystem continues to see a significant influx of new users. The monthly peak adoption rate of new ADA users recorded on 9 November at 32.3% indicates a robust influx of new participants during the price correction phase. This suggests that newcomer transactions have played a key role in sustaining the ADA price around the $35 support level over the past week. Bullish holders have established a solid wall of support around the $0.35 area, with 203,400 holders buying 1.79 billion ADA at an average price of $12.24.
The situation remains dynamic, and it will be interesting to see how investors respond to this consolidation phase and the growing adoption outlook.
Celestia (TIA): Comparison with Crypto Assets Polygon and Cardano
Celestia’s value has shown remarkable momentum, registering an increase of about 200% since its introduction. The significant upward trend followed the announcement of its departure from the traditional monolithic blockchain model. The price of TIA experienced resistance at $5.5314, subsequently suffering a 15% correction but stabilizing near this level with predictions of a possible attempt to break through it in the near future.
If bullishists maintain their strength and push the price above the $6.4525 resistance level, this could lead to a strengthening of the price of TIA, with the prospect of testing the upper resistance level at $7.00 within the current month. On the other hand, if bears dominate, we could see further declines with a test of the lower support level at $5.0898 in the coming days.
Hot Take: Embracing Blockchain Evolution with MATIC, ADA, and TIA
The performance of Polygon (MATIC), Cardano (ADA), and Celestia (TIA) reflects their roles in embracing blockchain evolution and driving growth in various sectors such as gaming and technology adoption.
By
By
By
By