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Polygon (MATIC) is experiencing a bullish rebound today following a dramatic resurgence in its key metrics. At the time of writing, Polygon has soared as high as 10.3% to $0.7732, forming a crucial support at the $0.75 level. At the current level, MATIC has now soared by more than 22% since the start of November, deepening its resolve to end the month and year on a bullish note.
Tomiwabold OlajideNotably, different metrics combine to prove MATIC bulls have been reawakened. Trading volume has gone parabolic, with trading volume pegged at $489,960,094, a figure that represents an exactly 49% surge over the past 24 hours.
Polygon's growth is notably on a consistent uptrend; however, it experienced a distortion in early October.
The monthly graph shows growth has not been enormously derailed, except for mild corrections recorded on Nov. 1 and 7. With Polygon, there is a dose of promise on the market that can push the bulls to drive the price toward the $0.8 mark, a level which, if breached, will mark the highest for the coin since mid-July.
Polygon 2.0 boost
Of the many positive updates surrounding the Polygon ecosystem, the defined transition of MATIC to POL is one underlying trend many in the community are looking forward to.
Embodied in the Polygon 2.0 tag, the protocol is making a crucial pivot to a new era that will be defined by enhanced performance and a renewed focus on developer empowerment. Beyond this, the actions of whales are also worth shining the beam on. While their impact is felt occasionally, their presence shows the diversity that signifies a healthy protocol.
With confirmation that its Q3 transactions topped 2.3 million, Polygon has established itself as a prominent L2 at the forefront of the blockchain adoption drive, a boost that is good for the price.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team