Written by Rob The Watergod | 5/18/2021
Matic and a few other coins have been good this year. But one of Matic’s biggest accomplishments is when it survived during a crisis. In addition, Polygon has also increased shockingly in users. In this article, I will be telling you why Matic and Polygon are the stars this month. And how they could achieve an even greater height. Many investors are now putting lots of their investments inside stocks like Matic, Cardano, etc. Now that we have that covered lets get into the article
This article provides information and education for investors. FeedYourEmpire does not offer advisory or brokerage services. Nor does it recommend or advise investors to buy or sell particular stocks or securities.
Matic Soars While The Crypto Market Is Down
While the crypto market has been down over the past few days, two cryptocurrencies, Matic and Cardano. Have seen significant gains. When Bitcoin, Ethereum and other major cryptocurrencies were suffering losses, Matic and Cardano emerged as unlikely winners. According to the WazirX price chart, the Matic price has gone up nearly 30% in a span of 24 hours. Matic has seen major growth in 2021. Matic is used by crypto investors to transfer their crypto funds. Over the Ethereum network, at very little fees and very high speeds.
Transferring crypto directly through the Ethereum network takes a long time and the fees are also quite expensive, depending on the load on the Ethereum network. Matic solves these inherent problems of the Ethereum network for the people looking to make crypto transfers. Many people have started to use MATIC as a cheaper alternative to moving cryptocurrencies. As the Etherum network remains congested and expensive. Many crypto experts believed MATIC had been undervalued for a long time, considering the important value and function it provides at virtually no cost. But the question is why. Why has Matic been rising?
Why matic has been skyrocketing
Matic is now one of the most profitable cryptocurrencies of 2021. And there’s no doubt investors now recommend that people should invest in matic. But why has it been rising? Mainly because of the growing popularity of ethereum. Furthermore, the recent merger of MATIC and Polygon has brought a lot of publicity to the coin, which has also contributed to the rise in price. Matic has a lot of advantages over other networks in terms of scalability, security and user experience. Matic is working with a lot of companies and a ton of interesting projects that you can check out on their website.
Polygon Users Increase By 75,000 After Matic’s Giant Pump
Polygon, a leading platform for Ethereum scaling and infrastructure development, has attracted 75,000 new users over the past seven days, shortly after Matics Great pump. However, The data courtesy of DappRadar, shows that the top 20 Polygon decentralized applications, or DApps, were responsible for the increase. In this case, new users refer to active wallets interacting with Polygon DApps. Therefore, The influx of new users brought in nearly $1 billion in volume. Here’s what Ian kane, a DappRadar’s senior content and media relations specialist, said about polygon: “Interestingly, as most DeFi dapps are built on open-source design Polygon dapp developers are simply copying popular dapps on Polygon and other chains like BSC and Ethereum. Rebranding them, adding a few new features, and pushing them out onto Polygon with one key difference.” Although according to Ian Kane More users are flocking to Polygon because it offers “cheaper and faster transitions”
than its Ethereum-based competitors. Polygon has made several noteworthy headlines over the past month. In fact, decentralized finance protocol mStable launched on the Polygon chain in late April, offering yet another DeFi use case. Separately, decentralized exchange aggregator 1inch Network recently announced that it has expanded to Polygon. However, Polygon’s native token, MATIC, was one of only a small handful of cryptocurrencies to report gains on Monday. The value of MATIC was up 5.7% on the day to $1.66, having gained over 71% in the past seven days, according to Coinecko. Cointelegraph Markets Pro and TradingView showed MATIC/USD reaching $2.18 during trading on May 18 in firm defiance of the broader market downtrend. After being listed on major exchange Kraken on May 17, MATIC surged, continuing a dramatic uptick that had begun when Kraken released the news earlier this month.
Conclusion
In conclusion, Polygon(Matic) is a coin that everyone should take a look at because it has real business use and it saves lots of money in gas fees. Polygon has the lowest gas fees in the industry and this could point to why they had this big surge in price. Many coin analysts see this stock going to 4 dollars in the near future. The best time to invest into Polygon is when it has its pullback. If you believe in Polygon long term the sooner you get in the better. Make sure to follow Crypto empire tv Because it gives you up to date information on finance and crypto.
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