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Matic (MATIC) Price Surges 27% Spurred by Indian Crypto Ban Recall

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Wed, 03/04/2020 - 09:20
Yuri Molchan
MATIC token soars over 27 percent as traders and investors are getting bullish on it. There are several reasons for the rise, including the lift of the RBI’s crypto ban
Cover image via www.shutterstock.com
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Matic Network is one of the promising crypto projects that was launched on the Binance Launchpad in early 2019. Currently ranked 78 on CoinMarketCap, it demonstrated a rise of over 23 percent earlier today. Crypto Twitter is turning bullish, hoping to see a higher rise later.

MATIC surges 27 percent on CoinMarketCap

At the time of writing the article, Matic shows a price rise of over 27 percent. The coin started the year modestly, exchanging hands in January at about $0.0150. Now it is trading at $0.0266.

Image via CoinMarketCap

Traders are watching the price carefully, amazed by the sudden growth of the coin.

Image via Twitter

Tokens moving to Coinbase

On March 3, the Matic team addressed the community on Twitter, saying that it was going to start testing Coinbase Custody. Matic now has an account on this San-Francisco-based crypto trading giant and on March 4, the Matic Network plans to move 2 percent of its tokens there to make the initial deposit and test the service.

In the comment thread, the community showed their bullish take on the MATIC price, expecting the coin to start surging. Some assumed it would perhaps reach $1 on the news.

Image via Twitter

Related
Breaking: RBI's Crypto Ban Lifted by Indian Supreme Court

Indian crypto ban lifted

Earlier today, news spread about the Indian Supreme Court lifting the Indian cryptocurrency ban implemented by the central bank RBI back in 2018.

This news was received by the Twitter community with enthusiasm. As for Matic, their team also touched on the subject, mentioning the event as a bullish sign for their token.

The tweet says that multiple dev teams in India are interested in working with the Matic Network. The team says that around 80%-90% of dapps being made in India at the moment are integrated with Matic.

Now that the ban has been lifted, the Matic team expects more dev teams and businesses from India to join the network.

Image via Twitter

 

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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