3 Reasons Why Polygon (MATIC) Is Up 100%+ During A Bear Market
Steady adoption and internal growth support MATIC's 118% gain even as most altcoins struggle to hold their short-term gains.
Altcoin Watch
Unlike bull markets where traders can essentially throw a dart at a list of coins to pick one that will go up, bear markets require a lot more effort to find projects that might work well in the long term.
Polygon (MATIC) is a project that has continued to show signs of widespread adoption despite the onset of a crypto winter, a layer-two scaling solution for the Ethereum (ETH) network that seeks to create a sustainable Web3 infrastructure on the best smart contracts platform.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.316 on June 18 during the crypto market's worst selloff, MATIC has climbed 118% to $0.70, where the price is now at a major support and resistance. level first appeared in March 2021.
1-day MATIC/USDT chart. Source: TradingViewThree reasons why Polygon's long-term outlook remains positive include its continued adoption by mainstream entities, the migration of several projects to the Polygon network, and an increase in the platform offering liquid staking services for MATIC.
Major Adoption AnnouncementsAdoption by influential mainstream companies is one of the best forms of marketing a blockchain platform can receive as it exposes them to a wide range of potential users.
Over the past few months, Polygon has partnered with Coca-Cola, which released a collection of NFT series on the network, and Reddit, which announced it was launching an NFT Marketplace on the Polygon Network on... .
Steady adoption and internal growth support MATIC's 118% gain even as most altcoins struggle to hold their short-term gains.
Altcoin Watch
Unlike bull markets where traders can essentially throw a dart at a list of coins to pick one that will go up, bear markets require a lot more effort to find projects that might work well in the long term.
Polygon (MATIC) is a project that has continued to show signs of widespread adoption despite the onset of a crypto winter, a layer-two scaling solution for the Ethereum (ETH) network that seeks to create a sustainable Web3 infrastructure on the best smart contracts platform.
Data from Cointelegraph Markets Pro and TradingView shows that since hitting a low of $0.316 on June 18 during the crypto market's worst selloff, MATIC has climbed 118% to $0.70, where the price is now at a major support and resistance. level first appeared in March 2021.
1-day MATIC/USDT chart. Source: TradingViewThree reasons why Polygon's long-term outlook remains positive include its continued adoption by mainstream entities, the migration of several projects to the Polygon network, and an increase in the platform offering liquid staking services for MATIC.
Major Adoption AnnouncementsAdoption by influential mainstream companies is one of the best forms of marketing a blockchain platform can receive as it exposes them to a wide range of potential users.
Over the past few months, Polygon has partnered with Coca-Cola, which released a collection of NFT series on the network, and Reddit, which announced it was launching an NFT Marketplace on the Polygon Network on... .
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