Polygon (MATIC) Gathers Strength As It Rides The Super Bowl NFT Wave
13 Februar 2023 - 09:09AM
NEWSBTC
The Super Bowl Season has always been an exciting event and Polygon
rides the wave through the minting of 1 million Super Bowl NFTs.
But first, here’s a quick glance of Polygon (MATIC) performance in
the last few days: MATIC price is down by 1.43% as of press time
Polygon NFTs riding the wave of the Super Bowl hype; now 4th
largest in terms of NFT volume at $3.37 million MATIC price looks
bullish for the long term Polygon knows exactly what to do with the
Super Bowl hype and uses that to gather momentum. Over 1 million
@Reddit Super Bowl NFTs minted #onPolygon Claim yours before the
big game 🏈👇🏽https://t.co/1BPiBUJ92r pic.twitter.com/rbP5NH8mkY —
Polygon (@0xPolygon) February 10, 2023 The network’s massive NFT
adoption is working in its favor as it gathers strength and has the
potential to jump above and beyond the resistance spotted at $1.6.
Polygon Flexes Muscles In The NFT Space Apart from the fact that
Polygon is seen to be growing tremendously, especially in the NFT
arena, its upcoming mainnet upgrade as well as the zk-EVM has
allowed the network to gain more traction. Related Reading: MATIC
Beats Top Cryptos BTC, ETH In Price Performance – Can It Sustain
Tempo? Ethereum is seen to be leading the pack in both the NFT and
DeFi space, but it seems that Polygon is keeping up or even close
to outpacing the giant. Currently, Polygon is considered the 4th
largest in sales volume in the NFT space with over $3.37 million,
registering an increase of as much as 30.72%. The number of
transactions also jumped by as much as 73% in the past week with
Ethereum dropping 4.34%. MATIC total market cap at $10.6
billion on the daily chart | Chart: TradingView.com Related
Reading: Dogecoin Whale Moves $100 Million From Unknown Wallet In 3
Different Transactions More so, OpenSea’s daily volume also
registered a phenomenal growth as it peaked at $18.7 million.
Comparatively, the total of NFTs sold has been low in the past
couple of months. OpenSea’s monthly volume on Polygon has also
barreled past $30 million in its first week which is its highest
since May of the previous year, a strong indicator that the value
of NFTs on the platform has spiked significantly. MATIC Bulls Seen
Dominating In The Long Term MATIC price is seen to be gathering
more strength ever since its price was resuscitated when it dipped
below $0.3 in June of last year. According to CoinMarketCap, MATIC
price has nosedived by 2.86% or trading at $1.22 at the time of
writing. Incredibly, MATIC is considered to be one of the top
gainers in cryptocurrencies despite the crypto bleeding enormously
in the past year. MATIC price is dubbed to be predominantly bullish
in a long-term perspective with a firm support base spotted above
$1 which means that even with a huge price drop, this can still
encourage a rebound rising from $1.05 and could surge further
surpassing $1.6. Polygon’s NFT trade volume has witnessed a spike
in activity as spotted on February 10, but the total volume for
that day is still lower when compared to its monthly high. Overall,
MATIC bulls are seen to maintain their winning streak longer than
usual. -Featured image by NBC Sports
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