Polygon’s native MATIC token has surged over 15% in early trading, nearing $1.10.
MATIC currently trades at $1.04, marking a substantial increase from $0.88 earlier in the week.
MATIC’s 24-hour trading volumes surpassed $2.3 billion, indicating a 107% increase.
Polygon’s native MATIC token has jumped over 15% in early trading Wednesday, nearing $1.10 as bullish momentum propels a bid to clear 2022 highs. The surge comes as Polygon transitions from a scaling solution into a more generalizable blockchain development platform.
MATIC currently trades at $1.04, up substantially after finding a footing around $0.88 earlier this week. The 15% single-day gain contributed to a 32% overall rally the past week.
Polygon could hit $1.73
Boosting upside potential, MATIC’s 24-hour trading volumes exceeded $2.3 billion as of press time—a massive 107% increase over Tuesday. This highlights intense trader and investor interest in current price levels.
If bullish momentum sustains, Polygon appears poised to tackle tough resistance around $1.40 in pursuit of a new yearly high. As analyst Ali Martinez noted, clearing the $0.96 threshold could open the door for prices as high as $1.73.
MATIC’s ascendance from $0.3 during the summer doldrums correlates with accelerating development activity as the protocol evolves from a niche layer-2 solution into a more generalizable framework for building blockchain apps.
The recent Polygon CDK launch enables developers to leverage Polygon’s modular infrastructure to create customizable chains optimized for a vast array of uses, from NFT platforms to metaverse worlds and gaming apps.
Major brands are already tapping Polygon CDK to architect high-throughput, low-cost networks aligned with their product roadmaps.