Polygon (MATIC) has witnessed an impressive 30% monthly increase, and analysts are optimistic about possible additional gains in the coming months.
Recently, the cryptocurrency, ranked in the top 20 in terms of performance, briefly surpassed the $1 mark, capturing the industry's attention. The 30% increase in prices over the course of a month correlates with a notable increase in trading volume and other Polygon-related metrics.
Influential Twitter user Ali, known for his accurate analysis, highlighted that MATIC displays "promising signs" indicating the possibility of significant long-term gains. His forecast suggests the asset could explode by as much as 90% next month as long as it closes above the crucial $0.96 resistance. To date, MATIC has remained above this level, currently trading around $0.97, as indicated by data from CoinGecko.
Content creator and investor Jake Gagain goes even further in his projections, envisioning a price appreciation that could reach US$9 by 2025.
The recent increase in the value of MATIC coincides with a significant increase in trading volume on the Polygon network. According to data from DefiLlama, the current volume is close to US$170 million, representing a 300% increase compared to the numbers observed at the end of January.
Additionally, Polygon has demonstrated exceptional performance in the non-fungible tokens (NFTs) space, recording sales volume of approximately $6 million over the past seven days.
These positive indicators suggest favorable momentum for Polygon, fueling expectations of a bright future for the cryptocurrency.#Matic #Polygon #Write2Earn #bullrun #blockchain
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