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Polygon(MATIC)

$0.79

1.61%

Market Cap
7.63b
 

1.61%

Volume (24h)
212.52m
 

15.86%

Released on 28 Apr 2019
TopCryptoNews
TopCryptoNews
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According to crypto analyst Ali, Polygon (MATIC), the native token of the Polygon network, an Ethereum layer-2 scaling solution, has been consolidating in a multi-year symmetrical triangular pattern. This chart pattern suggests that the price might be building up for a potential breakout, which might result in a 90% upside move for MATIC. Ali mentioned in a tweet that Polygon was exhibiting promising signs from a long-term perspective. He also stated that the prevailing pattern for Polygon appears to be a multi-year symmetrical triangle.  #Polygon  shows promising signs from a long-term perspective. The prevailing pattern appears to be a multi-year symmetrical triangle. If  $MATIC  can maintain a close above $0.96, it could signal the start of a bull rally, with a potential target of $1.73! pic.twitter.com/qjgn6sN1oV— Ali (@ali_charts) February 21, 2024 A symmetrical triangle is a chart pattern that forms when the price achieves lower highs and higher lows, resulting in two converging trend lines. The pattern typically represents a period of indecision and uncertainty on the market, with buyers and sellers evenly matched. The pattern is considered neutral until a breakout occurs, which often occurs when the price hits the apex of the triangle or at the point where the trend lines intersect. According to Ali, if MATIC can maintain a close above $0.96, it might herald the start of a bull rally, with a potential target of $1.73. If this pattern breakout holds, a rise to $1.73 indicates an 89.56% increase over current levels. At the time of writing, MATIC was up 5.21% in the last 24 hours to $0.97. The token has likewise gained 7% weekly. Polygon news Polygon recently celebrated Polygon ID Release 6, marking another big milestone on Polygon ID's path to becoming the most widely used digital identity solution. The highlight of this release is the first-ever implementation of Dynamic Credentials, a W3C protocol that allows users to automatically refresh expired credentials from their wallets. Polygon ID Release 6 also includes numerous significant improvements that increase Polygon ID's on-chain capabilities while also laying the groundwork for addressing key Web3 issues, such as Sybil assaults, among others. $MATIC #MATIC #Polygon #Write2Earn

3 days ago
NewsBTC
NewsBTC
The Polygon Vesting Contract Is Officially Empty, Will This Send MATIC Price To $3?
3 days ago
Crypto Ahmet
Crypto Ahmet
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🔥💥Polygon (MATIC) Makes the Latest Bounce: Could MATIC Rally to $1.73? #Polygon recently completed the final Sunday release of its native token #MATİC laying the foundation for the adoption of Polygon 2.0. The transfer to the Matic Foundation included 273 million MATIC tokens, worth about $253 million, and was a timely milestone, since the entire MATIC supply is now in circulation. The event, which took place on the evening of February 21, 2024, also became a central point for market observers and participants. Transition to Polygon 2.0 Polygon is a leader in Ethereum scaling solutions and is always evolving to improve its ecosystem. The latest token release follows the roadmap to Polygon 2.0 by bringing an improved version of its platform. The upgrade aims to solidify Polygon's place in the blockchain industry by introducing POL, a new token that will become the central currency in the Polygon ecosystem. The transition from MATIC to POL, which is the long-term vision of the project, is expected to take four years. However, the moment after the release of the token, the value of MATIC fell to $ 0.94. Given MATIC's historic $1 resistance, this price movement was observed critically. However, at the time of writing the bearish trend calmed down and prices changed hands to $ 0.9637, down 1.38% from their intraday high. But analysts think this is a short-term obstacle and indicate that an optimistic future with superficial patterns is still appropriate. One analyst pointed out the formation of a symmetrical triangle and suggested that there could be a significant rise as long as MATIC's close continues above $ 0.96 and it could rise as high as $ 1.73. Comparative Performance and Efficient Analysts Last year, MATIC fell by 32%, and other Layer 2 tokens (OP and SKL) ranked ahead of it. But the mood in the market is positive. The analysis shows that MATIC will make a big comeback, and the forecasts give an expected wave towards the $ 1.8-2.0 line, which is influenced by market dynamics and FOMO. #Write2Earn #binance #TrendingTopic

3 days ago
CoinEdition
CoinEdition
followers

Polygon completes final MATIC release, fully circulating its 10 billion token supply. Transition to Polygon 2.0 introduces POL as the new ecosystem currency. Analysts predict MATIC could rally to $1.73 with sustained support above $0.96. Polygon has recently finished the final release of the native token, MATIC, in the market, providing the foundation for the adoption of Polygon 2.0. The transfer comprised 273 million MATIC tokens with a value of around $253 million to the Matic Foundation and is a timely milestone as the whole MATIC supply is now in circulation. The event took place during the evening of February 21, 2024, and has been a central point for the market watchers and participants too. 11 小时前,2.73 亿 $MATIC ($253M) 从 Matic 归属合约转入 Matic 基金会地址。这是 Matic 的最后一笔代币解锁转移,自此 $MATIC 进入全流通状态。https://t.co/btJelj0cBZ pic.twitter.com/PS7YBmoCOs — 余烬 (@EmberCN) February 22, 2024 Transition to Polygon 2.0 Polygon is a leader in Ethereum scaling solutions, always developing to improve its ecosystem. The last token release follows its roadmap to Polygon 2.0, bringing an improved version of its platform. The upgrade aims to cement Polygon’s place in the blockchain industry by introducing a new token, POL, which will be the central currency in the Polygon ecosystem. The switch from MATIC to POL, the long-term vision of the project, is expected to last for four years. MATIC/USD 24-hour price chart (source: CoinStats) The post-token release moment, however, registered a MATIC dip to $0.94 value. This price action has been observed critically, given MATIC’s historical $1 resistance. However, at press time, the bearish rally had cooled off, with prices exchanging hands at $0.9637, a 1.38% decline from the intra-day high. MATIC’s market capitalization and 24-hour trading dipped by 1.30% and 17.58%, respectively, to $9,260,629,631 and $634,109,79. Nevertheless, analysts consider this to be a short-term hindrance and demonstrate by below-the-surface patterns that an optimistic future is still appropriate. An analyst noted the formation of the symmetrical triangle, suggesting what could be a substantial rally and reaching as high as $1.73, as long as MATIC sustains a close above $0.96. #Polygon shows promising signs from a long-term perspective. The prevailing pattern appears to be a multi-year symmetrical triangle. If $MATIC can maintain a close above $0.96, it could signal the start of a bull rally, with a potential target of $1.73! pic.twitter.com/qjgn6sN1oV — Ali (@ali_charts) February 21, 2024 Comparative Performance and Efficient Analysts MATIC has, however, faced difficulties in market performance compared to its peers despite being a significant Layer 2 scaling solution in Ethereum. Within the last year, MATIC declined 32%, with other Layer 2 tokens going ahead of it, i.e., OP and SKL. Nevertheless, the market mood is positive. Analysis indicates that MATIC is set to stage a massive comeback, with forecasts giving an anticipated wave towards the $1.8-$2.0 line influenced by market dynamics and FOMO. The post Polygon (MATIC) Makes Final Splash: Can MATIC Break Out for a $1.73 Rally? appeared first on Coin Edition.

4 days ago
Coinspeaker
Coinspeaker
followers

Coinspeaker Polygon (MATIC) Price Slumps 6% after Final Token Unlock Worth Over $250M Polygon’s native token, MATIC, has entered total circulation after a final token unlock of 273 million MATIC worth around US $253M. This final unlock schedule was transferred from the Polygon (MATIC) Vesting Contract to the Polygon Foundation’s address on February 21, as Etherscan shows. 273 million MATIC (valued at approximately US$253 million) were transferred from the Matic vesting contract to the Matic Foundation address today. This is Matic’s last token unlock transfer, and MATIC has since entered full circulation. By @EmberCN https://t.co/PhEPziUEp9 — Wu Blockchain (@WuBlockchain) February 22, 2024 The final unlock brings the current total circulating supply to 10 billion MATIC. Since 2019, Polygon has been unlocking its tokens in a phased approach. The first token unlocks schedule in 2019 saw teams and advisors get 1.2 billion MATIC. In the subsequent schedules, between 2020 and 2023, 1.2 billion MATIC were unlocked each year for Network Rewards and Ecosystem Growth. The last and final unlock to its Foundation on 21 February meant all minted MATIC are now in circulation. Although this could be deemed a deflationary move and potentially boost MATIC price charts, the token slumped 6% on the final unlock day, falling from $1.0 to $0.90. Can Polygon (MATIC) Price Breakout Above $1? A look at the daily charts indicated that the $1 psychological level doubled as a key bearish order block and range-high. MATIC has faced three price rejections at the $1 level since late December 2023.  When zoomed out on the weekly chart, MATIC’s previous weekly candlestick close of $0.9992 was a bullish signal after climbing above the crucial $0.97 resistance level. A price retest above $0.97 on the weekly chart could give bulls more edge for further upside. In such a scenario, MATIC could break out above $1 with possible bullish targets to watch out for in the long term at $1.2, $1.3, and $1.5.  Conversely, an unforeseen bearish pressure could slump the token to the mid-range level of $0.87 or the range-low above $0.70. However, the bearish scenario seemed more unlikely given the Polygon’s positive network statistics. According to DefiLlama, Polygon’s TVL (total value locked) remained above $800 million in February and climbed to >$900 million around Valentine’s Day. The TVL stood at $965.7 million at press time, up from $963.4M the previous day.  Additionally, Token Terminal data showed that Polygon’s fundamentals were still positive, as trading volumes and daily active addresses increased to $796 million and 861K on 21 February.    As such, the MATIC price correction was likely not linked to its network traction and final token unlock but to Bitcoin’s recent price choppiness around $52k.  next Polygon (MATIC) Price Slumps 6% after Final Token Unlock Worth Over $250M

3 days ago
Coinpedia
Coinpedia
followers

The post Polygon Price Analysis: History to Repeat, MATIC Price to Undergo a Massive Ride Soon! appeared first on Coinpedia Fintech News Polygon has been trading under the shadows for a long time, being aloof from the wide attention of the market participants. While some look at it as a huge drop in bullish strength, which could lead to a huge descending trend, in reality, the MATIC price is preparing for a huge bullish action. The bulls are maintaining a passive trend as they tend to accumulate strength and exhibit it as the levels approach the apex of the prevailing consolidation.  The price has displayed its ability to go long during the 2021 bull run where it gulped a couple of zeros from its value to reach the aTH close to $3. Although the prices have slipped back to cents, it appears that the popular layer-2 token is making arrangements to undergo an uninterrupted rally.  Earlier, the price broke out of the triangle and underwent a 10x and hence, a similar price action is expected at the moment as the token is stuck up within a similar bullish pattern.  The last week, which closed on a bullish note has propelled the price above the triangle. Regardless of the bearish pressures, the levels have been maintained above the gains, suggesting a significant presence of the bulls. The token seems to have approached the end of the consolidation and, hence, may undergo a massive breakout. The Polygon price had consolidated in a similar triangle just before the 2021 bull run and hence a recurrence of the event could be imminent.  However, the rebranding from Matic Network to Polygon had a massive impact during the 2021 bull run. Now that Polygon 2.0 is expected to roll out with the token migration from MATIC to POLS (which is already live), an equal impact is expected in the latter part of the year. The Polygon price is expected to sustain above $0.96 until the day closes and achieve a minimum level of $1.5 to $1.7 by the end of the week.  Hence, this could validate the beginning of a fresh bull run, which may end up marking a new ATH with double-digit figures.

4 days ago
Crypto Daily™
Crypto Daily™
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Bitcoin, now famously known for its rise back to $50,000, started from humble beginnings, as it was modestly priced at $0.2 in 2010, its impressive returns, coupled with the fact that many people entered quite late, have led a number of competitor into its alternatives, such as ChainLink and Polygon. With Bitcoin starting 2024 on a great note, one would expect many of these coins to follow suit, but it has not been the case. This has led investors to seek newer projects with strong infrastructure and still in their early stages. One of such projects is Algotech ALGT. Polygon: Little Yield Amongst Huge Bullish Run Since the beginning of 2024, the crypto market has witnessed a significant bullish trend, with Bitcoin (BTC) surpassing the $40K milestone and currently standing at $51k, marking yet another remarkable achievement.  However, not all altcoins experienced substantial gains during this period, including Polygon. Despite showing a modest 7% increase in price over the past week and a 2% uptick in 24 hours, Polygon (MATIC) has struggled to surpass the $1 mark. This inability to break out of its current range has dampened investor confidence. As a result, investors are now turning their attention to new launches, with Algotech (ALGT) garnering significant interest. Chainlink: Losses as a result of Theft leaves a lot of Investors with little confidence. The theft of about $900,000 LINKS earlier this year still hurts a lot of investors financially. The attack has been labeled as one of the biggest security breaches in the crypto sphere this year. This intrusion not only led to substantial financial losses but also sparked serious doubts regarding the security protocols and investor trust within the Chainlink (LINK) ecosystem.  As a result of this, a lot of concerns about the safety of their investments have prompted them to seek alternative options with stronger security measures. But the incident has severely dented investor confidence, casting a cloud of uncertainty over the asset’s future prospects. And now many of the investors are seeking to settle down in different projects, one of which is Algotech $ALGT.  Algotech: Presale Keeps Getting More Investors Excited  Algotech (ALGT) has emerged as a prominent player in the crypto scene, gaining traction as its presale gathers momentum, commencing at $0.04 per token in Stage 1. Following a remarkable private seed sale that amassed $1.1 million in just 48 hours, with over 55 million tokens sold, expectations are high for the DeFi coin's price to soar to $0.15 by the conclusion of the presale. And as a result, early investors stand to reap a lucrative 275% return on investment. The buzz surrounding Algotech (ALGT) presale goes beyond potential profits. Algotech (ALGT) presale also brings forth an exclusive giveaway, tempting participants with an unmatched, comprehensive crypto trading and networking bundle. The top prize boasts the latest iPhone, iPad, and Apple Watch, enhancing the winner’s trading journey. As an added bonus, the fortunate winner will also receive two VIP tickets to the highly anticipated Blockchain Life 2024 event, ensuring an immersive and educational experience in the realm of blockchain and crypto. If you are an investor, this a golden opportunity you wouldn’t want to miss.  For more details about this project: Visit Algotech Presale Join The Algotech Community Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.  

3 days ago
The Cryptonomist
The Cryptonomist
followers

Polygon (MATIC) seems to be showing some negative performance compared to its crypto rivals. In the last 12 months, in fact, MATIC is down -32%, while other layer-2 coins rivals, such as IMX, OP and SKL are all up in price. Polygon (MATIC) and its negative performance compared to rival layer-2 cryptos According to what observed, it seems that Polygon (MATIC) is showing a rather negative price performance compared to its rival layer-2 cryptos. And indeed, the price chart of MATIC shows a dump of -32% in the last 12 months. At the time of writing, MATIC is worth $0.95, compared to $1.38 a year ago.  As is well known, Polygon is the layer-2 of Ethereum, known for its low costs and higher scalability compared to Ethereum’s main blockchain. However, some argue that the crypto MATIC was overvalued during the 2021 bull run and that these are the real results.  Not only that, compared to Polygon, there are also other layer-2 cryptos that seem to be experiencing price pumps in the last 12 months. An example is the cryptos IMX, OP, and SKL, which have increased by +216%, +46%, and +50% respectively. MATIC, which remains in 14th place for market capitalization, is not even following the general trend of cryptocurrencies anymore. In fact, the price of Bitcoin (BTC) is now up +108% compared to a year ago, and Ethereum (ETH) itself is up +75%.  Polygon (MATIC): the crypto loses market share and interest compared to its 2021 The loss of interest in Polygon by traders compared to the trend of 2021, could be based on the effect of the Ethereum Dencun update, scheduled for March 12th. This upgrade favors ZK-rollup technology, but will not allow Polygon to reduce costs, unlike the other L2 solutions Arbitrum and Optimism.  In this regard, Katie Talati, research director at the digital asset management company Arca, emphasized the reasons why Polygon is underperforming: The upcoming Ethereum Dencun update will reduce costs for Layer 2 to send data to the Ethereum mainnet. Although Polygon will benefit from the update, other L2s like Arbitrum and Optimism, which use optimistic rollups, will see more significant cost reductions, causing a rally in these L2s. Most of the costs for optimistic rollups come from forwarding transaction data to Ethereum (which is what Dencun will reduce), but they hardly publish fraud proofs. On the other hand, Zk rollups publish fraud proofs much more frequently and therefore would not see the benefits of reduced transaction data costs. The second reason for underperformance is that Ryan Wyatt, the former president of Polygon, left last year to become Head of Business Development at Optimism. Many believe Wyatt was responsible for Polygon’s major partnerships and his departure was a blow to Polygon’s growth efforts” Staying on the topic of competitors, for Kenny Hearn, chief investment officer of SwissOne Capital, MATIC is in dump also due to the emergence of Arbitrum (ARB), especially in DeFi trading.  Partnerships will continue even in 2024 Despite MATIC crypto not performing for over a year, Polygon Labs continues to forge new partnerships even in this 2024. Here are some.  At the beginning of the year, Polygon announced its collaboration with Fox Corporation to introduce Verify, an innovative multimedia platform based on blockchain. This is a solution that tracks multimedia content and facilitates the negotiation of licensing agreements with AI companies. Not only that, the famous crypto company Immutable launched at the end of January, a new ZkEVM network based on Polygon, which aims to be the only blockchain designed and developed for Web3 gaming. Even Friendzone, a promising social market, is getting ready to start its operations on the Polygon PoS blockchain from February 26th. In practice, here, Polygon will serve to build social apps. Friendzone has also announced its intention to expand its scope to Polygon zkEVM.

4 days ago

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