Polygon (MATIC) price surged by over 9% in the last 24 hours to $1.21.
Today, MATIC attained six months high of $1.27.
Polygon’s native cryptocurrency $MATIC has grown more quickly and signaling bullish patterns. According to Coingecko, Today, $MATIC has surged by around 30% in the last 7 days to reach a six-month high of $1.27. Due to the price increase, Polygon has gained over 250% since the end of the second quarter.
At the time of writing, Polygon ($MATIC) traded at $1.21, a rise of 9% in the last 24 hours. Also, $MATIC soars up by approximately 46% in the preceding 14 days and about 42% in the previous month. Further, Polygon’s market cap climbed by 8% to $10 billion and has a 24 hours trading volume of $2 billion, which is grown by over 41%.
Polygon ($MATC) price chart Source: Tradingview)
Reasons Behind the Price Surge
The significant price growth for Polygon can be due to several tactical partnerships and integrations. On Wednesday, web2 giant Meta announced the release of a framework that allows Instagram users to mint and sell non-fungible tokens (NFT) or digital collectibles backed by Polygon. Polygon is the first partner for Meta’s new feature.
Also, every traditional business intended to participate in the web3 trend. As the world’s largest investment bank, JPMorgan completed its first decentralized finance (DeFi) trade (cross-border transaction) via Polygon on the same day as the Meta announcement. This could be the reason for the most recent upward surge in $MATIC.
In addition, Coca-Cola launched its brand-new NFT collection on the Polygon Network in August. Moreover, Adidas, Reddit, LFC, and Disney all got their NFT integrations with Polygon Network.