Polygon (MATIC) sets all-time high record after Nike partnership

A new all-time high record has been set on the Polygon network, with unique addresses exceeding 190 million as of November 14.

Polygon MATIC breaks all-time high record

Polygon MATIC, an Ethereum token powering the Polygon network, has broken an all-time price record with the number of unique addresses hitting 190.95 million on the 14th of November, 2022. Amidst this, U.S. sportswear retail giant Nike has recorded a new milestone with the launch of its own user-inclusive NFT marketplace. Interestingly, Nike’s new digital community, SWOOSH, will operate on Polygon’s infrastructure.

As revealed by polygonscan, a block explorer and analytics platform, less than 24 hours after the announcement of the Nike and Polygon collaboration, Polygon has recorded a 4.10% increase in value. As of press time, the live Polygon price is $0.944800 USD with a 24-hour trading volume of $626,120,458 USD. According to the current CoinMarketCap ranking, Polygon MATIC holds position #10, with a live market cap of $8,252,185,093 USD. It has a circulating supply of 8,734,317,475 MATIC coins and a max. supply of 10,000,000,000 MATIC coins.

Polygon’s new record marks its largest volume of major transactions since February 2021 with MATIC, Polygon’s native blockchain token.

About Polygon MATIC and its ascent

Polygon, formerly called Matic Network, is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate the mass adoption of cryptocurrencies by resolving scalability problems on many blockchains. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture, allowing for the easy execution of scalable and autonomous smart contracts.

Polygon’s MATIC token began its ascension in October after Robinhood, a stock and crypto investing app, announced a collaboration with Polygon for its new Web3 wallet, allowing users to send and receive MATIC on its brokerage. Next, Polygon partnered with Nubank to host its nucoin cryptocurrency and Meta to deliver its non-fungible token (NFT) vision.

Now, Polygon is expanding its wings and gaining weight in the crypto space with its new collaboration with Nike.

The Polygon and Nike pact

As reported by Crypto.News, American-based international sportswear giant Nike unveiled its new digital user-oriented Community to provide its members with a platform for Web3-enabled virtual creations. In its press release yesterday, Nike stated that its new platform would champion athletes and serve the future of the sport.

Nike’s choice of Polygon as the base for its NFT site does not seem surprising, given that digital assets on this particular blockchain have already managed to penetrate both Instagram and Reddit.

Source : Crypto.news

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