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Polygon (MATIC) Just Set Fresh All-Time High Over $0.62: Top Three Reasons

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Tue, 04/27/2021 - 15:52
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Vladislav Sopov
Native coin of Layer 2 hub Polygon Network (previously Matic Network) almost doubled in four days. Here are some reasons why
Polygon (MATIC) Just Set Fresh All-Time High Over $0.62: Top Three Reasons
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MATIC token of Polygon Network (formerly Matic) is the undisputed top performer of the ongoing market rebound. It has just printed a new all-time high over $0.20 on major spot exchanges.

MATIC price sets new record

Today, April 27, 2021, major altcoins turned green after a painful correction. Polygon's native asset, MATIC, is the leader of the recovery between the mid-caps.

MATIC price prints new high
Image via Coinmarketcap

The MATIC price adds more than 20 percent in 24 hours and has set a new all-time high over $0.62. Thus, its value surged 31x in 2021 only. Polygon (MATIC) looks like a textbook example of a success story behind a crucial infrastructure project that addresses the most challenging "pains" of the smart contracts segment.

Related
Polygon (MATIC) Launches $40 Million Liquidity Mining Program With Aave Protocol (AAVE): Details

An impressive inflow of liquidity should be named among the most powerful drivers behind the MATIC pump. For instance, its new AAVE integration already has $1 billion in total value locked and 7,200 users on board.

Also, Polygon is never tired of announcing collaborations of all sorts. As covered by U.Today previously, the project entered digital fashion markets due to a partnership with DIGITALAX.

Polygon transaction number goes through the roof

Ethereum (ETH) congestion and high network fees made DeFi developers seek alternatives to the rollout of their applications. Initially started as an Ethereum side-chain, Polygon (MATIC) evolved into a viable competitor of the second crypto.

Alex Svanevik of the Nansen research team shared an infographic that displays the parabolic upsurge in Polygon (MATIC) transactions registered since mid-April.

MATIC transactions number also sets new record
Image via Twitter

For the first time ever, the quantity of transactions confirmed by Polygon in a 24-hour period is arpproaching seven-digit waters.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)