Polygon price skyrockets 20%; Will MATIC reach $1?

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The global crypto market has climbed around 5% in the past day to regain the vital $1 trillion ceiling. With this surge, Polygon (MATIC) prices have also jumped 20% in the last 24 hours.

MATIC price up 150% in last 30 days

MATIC prices jumped around 65% in the past 7 days to recover from the recent meltdown. According to Santiment, with the recent price spike, MATIC’s address business is booming. However, he also mentioned that the graph represents a kind of divergence.

The number of active addresses on the network fell to 4862 when the price surged to touch the $0.89 price level. According to the data, the active address amount stood at 10,500 on June 10, 2022, when MATIC was trading at $0.33. This is a significant drop in the number of active holders.

Polygon is trading at an average price of $0.909, at press time. MATIC prices have shot up around 150% in the last 30 days. Meanwhile, it is still trading down 68% from its all-time high. However, a massive jump of 71% can be seen in its 24-hour trading volume. It now stands at $1.6 billion.

Polygon among the best choice of BSC whales

Meanwhile, Polygon managed to enter the top 10 token buy tally by the top 100 BSC whales in the past 24 hours. The largest wallets hold over $28.4 million worth of MATIC tokens.

Earlier, In the highlighted block that Polygon price managed to break the strong resistance at $0.68. It is now signaling that this increase could break the $1 where around 50,000 addresses could try to break even.

However, the current price spike is supported by Polygon’s early announcement. Mihailo Bjelic mentioned that they promised to stay committed and give back to ETH and in the next 3 days Polygon will keep their promises.

He also announced that Web3Auth has integrated with Polygon Blockchain. He added that this will integrate the next billion users on the network with non-custodial wallets.

Ashish believes in decentralization and has a keen interest in the evolution of Blockchain technology, the cryptocurrency ecosystem, and NFTs. He aims to raise awareness of the growing crypto industry through his writing and analysis. When he’s not writing, he’s playing video games, watching thrillers, or playing sports outdoors. Contact me at [email protected]

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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