Over the weekend, Polygon (MATIC) rallied nicely off the $1.50 support region, rising nearly 25% in the last 48 hours to $1.81 this morning. Polygon’s market worth has recovered to $12.6 billion, putting MATIC behind Uniswap as the 19th most valuable cryptocurrency.
Polygon is going higher in a four-month uptrend on the daily chart. If the price maintains above the 200-day moving average and trend support, Polygon should continue to rise.
Bullish Factors for MATIC
With new partnerships and collections, MATIC continues to make progress in the NFT ecosystem. The altcoin was launched on Spain’s main exchange, bolstering MATIC price’s positive narrative.
MATIC’s listing on Bit2Me, Spain’s largest cryptocurrency exchange, was revealed yesterday.
The token is now available to over a million crypto traders on the exchange’s platform. As a result, demand for the altcoin is increasing.
MATIC’s price is expected to rise again as a result of new exchange listings and partnerships.
Polygon Network co-founder Mihailo Bjelic indicated that the project is now focusing on the NFT environment after reaching the top of the Defi ecosystem. On the 95th anniversary of Macy’s Thanksgiving Day parade, Polygon powered the inaugural NFT collection.
Another milestone was just achieved by the scaling solution. In phase 1, the proposal to bring Uniswap V3 to Polygon was enthusiastically received by the UNI community.
The arrival of Uniswap V3 on the MATIC network is becoming increasingly plausible.
Phase 1 of the Uniswap governance process went exceptionally well! 🎉
7.79M UNI (~100%) voted yes, and only 25k was required for the vote to pass! 🤯
Thanks @Uniswap community, we are humbled by this level of support! 🙏
We're moving forward with Phase 2; let's do this! 🔥 https://t.co/16MeXFTGqZ pic.twitter.com/AuWlgeqnOs— Mihailo Bjelic (@MihailoBjelic) November 26, 2021
The price of MATIC is expected to rise, according to analysts. MATIC price could achieve a new all-time high, according to cryptocurrency analysts on the YouTube channel “Invest & Trade with Jaxx.” The analyst sees a double top formation, with the EMA remaining above it, indicating a MATIC bull run.