Could Polygon be the Dark Horse in the Next Bull Market?
Polygon proof-of-stake (POS) has surpassed Ethereum in terms of trading volume, according to Polygon co-founder Sandeep Nailwal. The trading volume difference is approximately $93,000. At the moment, Polygon’s MATIC price stands at $0.82.
Fox Corporation has partnered with Polygon to develop a program called Verify, which aims to verify the accuracy of news content. Publishers can register their content on the Polygon blockchain to prove its origination and provide customers with reliable sources.
Crypto influencer Lark Davis highlighted that Polygon POS has surpassed Solana in terms of daily active addresses.
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Polygon’s Price Coverage in Recent Times
MATIC’s price has been closely monitored by BeInCrypto. The recent bounce in price was attributed to an upgrade on transaction fee calculations. However, MATIC continues to trade within a bearish pattern that has persisted for nearly 60 days.
The price of MATIC experienced a decline below a long-term descending resistance trend line since reaching its all-time high of $2.90 in December 2021. This downward trend led to a low of $0.32 in June.
Hot Take: Is Polygon Poised for Success?
Polygon’s increasing trading volume, partnerships with major companies like Fox Corporation, and surpassing Solana in terms of daily active addresses indicate its potential for success in the next bull market. Despite the current bearish pattern and previous price decline, Polygon’s technological advancements and growing ecosystem make it an intriguing contender in the crypto industry. Keep an eye on Polygon as it could be the dark horse of 2024.
