Crypto Market Anticipation for Bull Period
Cryptocurrency market expectations for a bull period continue, while Polygon (MATIC) is creating significant excitement. Additionally, for two consecutive days, Polygon Proof-of-Stake (POS) had a higher transaction volume than Ethereum (ETH).
New Partnership for Polygon
Polygon’s co-founder Sandeep Nailwal stated in an announcement that Polygon POS reached approximately $93,000 higher in transaction volume compared to Ethereum. At the time of writing, the MATIC price is at $0.82. This development followed the news of a partnership with Fox Corporation.
Moreover, according to an announcement from Polygon, the program is called Verify. Publishers can register their content to prove its sourcing. Data can be stored on the Polygon blockchain. This will enable customers to determine the correct sources through an intermediary. Additionally, crypto analyst Lark Davis noted that Polygon POS surpassed Solana in terms of daily active addresses. It was reported that MATIC’s price jumped following the team’s announcement of a new upgrade in transaction fee calculations on January 9th.
Expert Opinion on MATIC
Despite the rise, MATIC is still trading within a bearish trend. This has continued for about 60 days. Furthermore, MATIC’s price has experienced a decline below the long-term descending resistance trend line since trading at its all-time high of $2.90 in December 2021. This rapid decline led to a drop to $0.32 in June.
In conclusion, Polygon stands out with its high transaction volume surpassing Ethereum and its Verify program. However, MATIC’s price continues its bearish trend below the long-term descending trend line. The price increase of MATIC during the day following Polygon’s partnership news was notable. The upgrade in Polygon’s transaction fee calculations and Lark Davis’s analysis also highlight the strength of Polygon POS.
