Polygon (MATIC) Records Losses Despite Recent Developments
Polygon (MATIC) has experienced a decline in value, losing 4.6% and 14.2% over the course of 24 and seven days, respectively. However, despite this poor performance, there is hope for fresh interest due to recent developments.
Focus on the SAGA Airdrop
One of the developments attracting attention is the SAGA airdrop, which has seen over 26,000 Polygon users participate. This airdrop is available to users who staked MATIC or bridged ETH using Polygon’s zkEVM Bridge. The exact dates for the airdrop are unknown but are expected to take place in the first half of this year.
Excitement Over Polygon Airdrop
Sandeep Nailwal, co-founder of Polygon, expressed excitement about Saga’s involvement in their ecosystem. Nailwal praised Saga for their work in automating decentralization infrastructure and hinted at the possibility of decentralized sequencing features within Polygon CDK.
MATIC Price Not Upbeat About Recent Developments
Despite positive developments, MATIC’s price has been declining and is currently trading at $0.82. This presents an opportunity for investors to buy low. However, there has been a decrease in short positions, indicating a decline in trader interest.
Data from Santiment also suggests a decline in network volume and interest from fresh addresses, which may hinder MATIC’s growth.
Collaborations Up Despite Poor Price Showing
Despite MATIC’s poor performance in terms of price, collaborations and ecosystem development for Polygon have not slowed down. Notable developments include the release of the Chain Development Kit (CDK), the launch of Polygon zkEVM, and partnerships with companies like Flipkart and OKX.
Hot Take: MATIC’s Potential for 2024
Crypto expert Ali Martinez predicts that MATIC will perform well in 2024, with a potential rise to $1.8 in price. Martinez points to the asset’s break of a symmetrical triangle chart pattern as an indication of its future success.
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