Advertisement
AD

Main navigation

MATIC Journeys to All-Time High After Finding Foothold Around $2

Advertisement
Wed, 22/12/2021 - 12:10
MATIC Journeys to All-Time High After Finding Foothold Around $2
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to CoinMarketCap data, MATIC token is up 12% in the last 24 hours at the present price of $2.57 and up 60.4% since December started. MATIC seems to benefit from its foray into NFTs and the launch of its burn mechanism.

Advertisement

Polygon's native asset, MATIC, is journeying its way back to all-time highs after finding a foothold around $2 on Dec. 20. MATIC attained record highs of $2.82 in May.

CoinMarketCap
MATIC/USD, Source: CoinMarketCap Data

Recently, MG Motor India, the maker of Hector and Gloster SUVs, announced the launch of its NFT collection using Polygon's network. The carmaker plans to sell 1,111 NFTs, including GIFs and static images.

On Dec. 14, Polygon implemented Ethereum's EIP-1599 update on the Mumbai testnet to introduce the burning of native token MATIC to provide better transaction fee visibility.

Polygon aims to offer Ethereum scaling solutions for developers, empowering them to build Web3 applications. Ongoing discussions around Web3 seem to be beneficial for Polygon's MATIC. U.Today reported earlier on Elon Musk and the Dogecoin creator continuously attacking Web3, posting controversial GIFs.

Polygon MATIC price action

Polygon (MATIC) has shown a price breakout in the previous 24 hours, rising roughly 12% with a trading volume of $3,045,039,767. MATIC was trading at $2.57 at press time, indicating that there is a possibility for growth as it appeared to have regained some footing above the $2.00 mark.

Today, MATIC soars to reach a fresh two-week high of $2.61. The relative strength index (RSI) shows a rise in bullish momentum climbing above the 70-point mark.

It now records a live market cap of $18,279,433,901, and it is currently ranked #14 on CoinMarketCap. There are 7,086,960,741 MATIC coins in circulation, with a maximum supply of 10,000,000,000 MATIC coins.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles