Polygon

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Taurus raised $65 million in a funding round three months ago. Its clients can now issue digital securities automatically. 

cointelegraph.com

Taurus deploys on Polygon blockchain for asset tokenization and custody

German telecommunications giant Deutsche Telekom has announced its support for the Polygon Blockchain infrastructure, becoming a validator on the Polygon network. Deutsche Telekom’s subsidiary, Deutsche Telekom MMS, will provide staking and validation services for the Proof-of-Stake (PoS) network and Polygon’s Supernets solutions.
Deutsche Telekom’s move to join the network follows a growing trend of major corporations and institutions embracing blockchain technology. The company’s decision to support Polygon’s ecosystem signals a strong commitment to blockchain technology and the expansion of its activities in the field.
Polygon Network Scores Big 
Polygon, the leading Ethereum Layer-2 scaling platform, offers a developer-friendly and resource-efficient ecosystem based on the highest security standards of the Ethereum ecosystem. 
Dirk Röder, Head of the Blockchain Solutions Center at Deutsche Telekom, highlighted the importance of the collaboration with Polygon in fully exploiting the potential of blockchain technology and enabling applications suitable for mass deployment.
Related Reading: Strike Back: Binance Denies 20% Staff Cut Allegations, Calls It ‘FUD’
Moreover, Michael Blank, Chief Operating Officer at Polygon Labs, expressed his excitement for the collaboration with Deutsche Telekom and the potential for more businesses to embrace blockchain technology through Polygon. 
This collaboration will pave the way for more businesses to embrace blockchain technology through Polygon and empower consumers by unlocking the ownership and autonomy that web3 technology offers.
Deutsche Telekom brings significant expertise and resources to the partnership, which can help to strengthen Polygon’s network and support its ongoing development. Firstly, as a validator on the network, Deutsche Telekom will contribute to the security and decentralization of the blockchain. Validators are responsible for verifying transactions and maintaining the integrity of the network, and their participation helps to maintain the network’s stability and security.
Secondly, Deutsche Telekom’s validation nodes on Polygon will help to increase the network’s overall capacity and efficiency. As more validators join the network, the capacity of the network to handle transactions and support applications increases, which can help to attract more users and developers to the platform.
Thirdly, Deutsche Telekom’s expertise in the telecom industry can help to drive the adoption of the Polygon network by businesses and institutions. 
With its extensive network and resources, Deutsche Telekom can help promote blockchain technology’s benefits and encourage more companies to explore its potential applications.
Deutsche Telekom’s Collaborations In The Blockchain Industry
Deutsche Telekom’s past collaborations with other major players in the blockchain industry have been focused on exploring the potential of the technology and driving innovation. For instance, Deutsche Telekom has collaborated with Chainlink, a decentralized oracle network provider, to explore the use of blockchain in the telecom industry. 
The collaboration aimed to provide tamper-proof and secure data feeds to the telecom industry, and Deutsche Telekom’s participation signaled a strong interest in exploring blockchain’s potential applications.

In another collaboration, Deutsche Telekom partnered with Flow, a blockchain platform developed by Dapper Labs, to build a decentralized marketplace for non-fungible tokens (NFTs). The platform aims to provide a secure and transparent marketplace for creators and collectors to buy and sell digital assets.
Overall, the new partnership between Polygon and Deutsche Telekom is expected to benefit both parties significantly. The move also marks an important step for Deutsche Telekom in embracing the potential of blockchain technology and expanding its presence in the industry.

Featured image from Unsplash, chart from TradingView.com 


German telecommunications giant Deutsche Telekom has announced its support for the Polygon Blockchain infrastructure, becoming a validator on the Polygon network. Deutsche Telekom&#8217;s subsidiary, Deutsche Telekom MMS, will provide staking and validation services for the Proof-of-Stake (PoS) n...

bitcoinist.com

Polygon Network Scores Telecom Giant Deutsche Telekom As Validator

Litecoin rose by as much as 6% in today’s session, as the token climbed past a key resistance level on Thursday. The move came following several attempts over several weeks, with bulls finally breaking through. Polygon was also higher, ending a recent losing streak. 
Litecoin (LTC)
Litecoin (LTC) was one of Thursday’s notable gainers, as prices moved past a key resistance level.
Following a low of $88.35 on Thursday, LTC/USD rose to an intraday peak at $94.21 earlier in the day.
As a result of today’s rally, litecoin broke out of its recent ceiling at $93.00, hitting a two-week high in the process.

From the chart, it appears that Thursday’s surge came as the 14-day relative strength index (RSI) broke out of a ceiling at 58.00.
Since the breakout, the index has continued to climb, and as of writing this is currently tracking at 59.76.
In the event momentum continues in this direction, there is a strong chance that LTC will move above $95.00.

Polygon (MATIC)
Polygon (MATIC) snapped a three-day losing streak on Thursday, following a crossover of moving averages (MA).
The 10-day (red) MA crossed its 25-day (blue) counterpart in today’s session, sending the price to a peak of $0.8974.
This comes following Wednesday’s low at $0.8787, which saw MATIC hit its weakest point since May 25.

Overall, market volatility in polygon remains significantly high, with earlier gains almost fading.
As of writing, MATIC is trading at $0.8934, with the RSI at a reading of 46.03, which is close to a ceiling of 48.00.
Should this aforementioned point of resistance be broken, bulls could force a move toward $0.9000.
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Do you expect polygon to move above $0.9000 this week? Let us know your thoughts in the comments.



Litecoin rose by as much as 6% in today&#x2019;s session, as the token climbed past a key resistance level on Thursday. The move came following several attempts over several weeks, with bulls finally breaking through. Polygon was also higher, ending a recent losing streak. Litecoin (LTC) Litecoin...

news.bitcoin.com

Biggest Movers: LTC Breaks Out of Key Resistance Level After Gaining 6%

The German telecommunications firm looks to leverage its infrastructure in Web3, plugging in as a network validator for Ethereum scaling protocol Polygon. 

Germany's Deutsche Telekom plugs in as Polygon validator

A popular crypto trader who has remained bearish on the digital asset markets this year is doubling down on his predictions and adding more to his short position on one large-cap token.
The pseudonymous trader Capo tells his 64,703 Telegram subscribers that he’s adding to his existing short on Polygon (MATIC), an Ethereum (ETH) scaling solution.

MATIC is trading at around $0.903 at time of writing. The 11th-ranked crypto asset by market cap is down 0.55% in the past 24 hours.
Capo notes that his current positioning is 65% in the US dollar and 35% in mid-term short positions.
Besides MATIC, he’s also shorting Binance Coin (BNB), the utility token of the BNB Smart Chain, the lending and borrowing decentralized finance (DeFi) protocol Aave (AAVE), decentralized storage and distribution platform Tron (TRX), and the Ethereum competitor Solana (SOL).
Earlier this month, the trader predicted Bitcoin (BTC) was destined to plummet to $12,000, while ETH could crash by well over 70%. He argues that the bear market hasn’t ended yet and BTC’s recent rally from $15,700 to $30,000 was nothing more than a retracement, which has now come to an end.
Capo is known in crypto circles for correctly predicting last May that Bitcoin would continue to plunge lower.
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The post Crypto Bear Doubles Down Again, Goes Short on Polygon (MATIC), Solana (SOL), Aave and More appeared first on The Daily Hodl.


A popular crypto trader who has remained bearish on the digital asset markets this year is doubling down on his predictions and adding more to his short position on one large-cap token. The pseudonymous trader Capo tells his 64,703 Telegram subscribers that he&#8217;s adding to his existing short...

dailyhodl.com

Crypto Bear Doubles Down Again, Goes Short on Polygon (MATIC), Solana (SOL), Aave and More

The parent company of one of the biggest cell service providers in the US is becoming a validator on layer-2 scaling network Polygon (MATIC).
In a new company announcement, Deutsche Telekom, the conglomerate that owns telecommunications giant T-Mobile, says it will begin validating nodes for Polygon, just like it’s been doing for other prominent crypto assets.

 “Deutsche Telekom’s subsidiary, Deutsche Telekom MMS, extends its validation nodes to Polygon, providing staking and validation services for the Proof-of-Stake (POS) network and Polygon’s Supernets solutions. Deutsche Telekom MMS is one of only 100 validators on the Polygon network.” 
Other digital assets Deutsche Telekom currently validates nodes for include Ethereum (ETH), Flow (FLOW), Chainlink (LINK), Celo (CELO), and Q.
Dirk Röder, Head of the Blockchain Solutions Center at Deutsche Telekom, says that becoming a validator for Polygon will help the firm fully unlock the potential of blockchain technology.
 “The Polygon ecosystem is very developer-friendly and resource-efficient. It is based on the highest security standards of the Ethereum ecosystem. The collaboration with Polygon is an important step for Deutsche Telekom MMS to fully exploit the potential of blockchain technology and enable applications suitable for mass deployment.”
Röder says that the firm currently also supports Polygon staking, which contributes to the protocol’s decentralization and security.
According to the announcement, as a validator, Deutsche Telekom “will help secure Polygon’s POS sidechain and Supernets app-chains, contributing to their security, governance, and decentralization by running a full node, producing blocks, validating and participating in consensus, and committing checkpoints on the Ethereum mainnet.”
MATIC is trading for $0.88 at time of writing, a 1.12% decrease during the last 24 hours.
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The post T-Mobile’s Parent Company Becomes Validator on Polygon (MATIC) Network appeared first on The Daily Hodl.


The parent company of one of the biggest cell service providers in the US is becoming a validator on layer-2 scaling network Polygon (MATIC). In a new company announcement, Deutsche Telekom, the conglomerate that owns telecommunications giant T-Mobile, says it will begin validating nodes for Poly...

T-Mobile’s Parent Company Becomes Validator on Polygon (MATIC) Network

Platinium Group, the premier ticket provider for Grand Prix events, has joined forces with an NFT marketplace, Elemint; and a web3 company, Bary, to release a new NFT ticketing system on Polygon that debuted this weekend at the Formula 1 event in Monaco.
Tickets for the Monaco Grand Prix, which is ongoing and started on Friday, May 26, are being minted on Polygon, the Ethereum sidechain that enables fast processing speeds and high throughput.
Polygon Labs’ head of global business development, Urvit Goel, emphasized that the platform’s use of Ethereum’s robust security and NFTs’ unfalsifiable uniqueness improves ticket authenticity, reduces the likelihood of counterfeiting, and gives fans a digital memento they can keep forever.
The ticketing platform combines the robust security of Ethereum with the forge-proof uniqueness of NFTs to enhance ticket authenticity and prevent counterfeiting while providing fans with lasting digital mementos.
Polygon Rally
In response to this deal, MATIC prices rallied on May 26, soaring to as high as $0.97. Even though prices have since retracted, the upswing momentum remains and the token appears to be bottoming up.

Whether this event will trigger more gains in the sessions ahead is yet to be seen. However, the spike that lifted MATIC above key resistance levels on May 26 may be the foundation for another rally going forward.
Currently, MATIC is down 40% from February 2023 highs and remains under pressure, trailing other assets, including BTC.

Besides price action, the release of the new ticketing platform on Polygon is when NFTs are finding new uses after a concerning contraction in 2022.
Bertrand Labays, Platinum Group’s Chief Operating Officer, said the integration of blockchain in their operations is “imperative” and that NFTs would play a role in sports.
NFT’s Rising Popularity
Last year, NFTs trading volumes contracted, following the sharp retracement of asset prices. While MATIC recovered in Q1 2023, gains have not been strong in Q2 2023. However, the platform is positioning itself as a go-to portal for minting NFTs.
Specifically, users are finding Polygon’s low-fees and high scalability an advantage. Besides, Polygon’s EVM compatibility means issuers can move their assets to Ethereum.
Still, whether the recent announcement from Platinum will draw more interest remains to be seen.

Recently, Formula 1 also partnered with Tezos, a self-amending layer-1 blockchain, to launch a new NFT ticketing system. In this arrangement, Formula 1 fans would easily purchase tickets that exist as NFTs and stored permanently on the Polygon and Ethereum competitor.
Beyond that, the NFL Players Association (NFLPA) joined hands with Chiliz to create a new NFT ticketing platform on Socios.com for NFL fans to purchase tickets.



Platinium Group, the premier ticket provider for Grand Prix events, has joined forces with an NFT marketplace, Elemint; and a web3 company, Bary, to release a new NFT ticketing system on Polygon that debuted this weekend at the Formula 1 event in Monaco. Tickets for the Monaco Grand Prix, which i...

newsbtc.com

Monaco, NFTs, And Formula 1: Reasons Polygon Is Bullish

The future of crypto lies with gaming, according to Sandeep Nailwal, the co-founder of Ethereum (ETH) layer-2 scaling solution Polygon (MATIC).
Nailwal conducted a Reddit ask-me-anything (AMA) session on Thursday and Friday, responding to questions about his project and the crypto space at large.

When asked about potential real-life use cases for the blockchain, the Polygon co-founder said he thought gaming represents the “largest-scale opportunity for crypto.”
“And gaming adopts new technology in hoards. There are some top games launching in Web3 in the next 6-18 months and it would be very interesting to see if some of them are able to crack the crypto code. Last year itself there was $2 billion+ in funding for Web3 games. Polygon combined with its ecosystem players like ImmutableX (IMX) got the lion’s share in terms of those funded games. Fingers crossed for some of them to go big!”
During the AMA, another Redditor asked Nailwal why “the entire crypto industry [feels] like a scam and a waste of time?”
The Polygon co-founder acknowledged that “90% of crypto tokens are scams” but also pointed to some of the altruistic utility the digital asset space has provided in recent years.
“I also share your frustration that we have not created that many products which can add value to Humanity, but there are some things I would like to share:

The whole Defi (decentralized finance) space has created a lot of financial primitives like Decentralized Exchanges, Money Markets etc who are currently maturing and will scale as blockchain infrastructure scales and will become the norm.
Whether it was the Covid relief in India, or War relief efforts in Ukraine or Earthquake relief efforts in Turkey, Crypto technology and community was at the forefront and for a good amount of time was the only way to channel in the money for the relief efforts
A lot of people in Africa and Latam (Latin America) are today using USDT as a means of preserving their wealth against inflation in their local currency.”

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Generated Image: Midjourney
The post Gaming Represents the ‘Largest Scale Opportunity’ for Crypto, Says Polygon (MATIC) Co-Founder appeared first on The Daily Hodl.


The future of crypto lies with gaming, according to Sandeep Nailwal, the co-founder of Ethereum (ETH) layer-2 scaling solution Polygon (MATIC). Nailwal conducted a Reddit ask-me-anything (AMA) session on Thursday and Friday, responding to questions about his project and the crypto space at large....

Gaming Represents the ‘Largest Scale Opportunity’ for Crypto, Says Polygon (MATIC) Co-Founder

Polygon climbed to a multi-week high on Friday, as bearish sentiment in cryptocurrency markets began to fade. The global crypto market marginally rose during today’s session, following yesterday’s downturn. XRP was another notable gainer.
Polygon (MATIC)
Polygon (MATIC) was one of Friday’s big movers, as the token rose to a multi-week high during the day.
Following a low of $0.8802 on Thursday, MATIC/USD hit an intraday high of $0.9514 during today’s session.
As a result of the move, polygon recorded its strongest point since May 8, breaking out of a key resistance of $0.9500 in the process.

From the chart, it appears that this breakout occurred as the 10-day (red) moving average moved closer to an upwards crossover with its 25-day (blue) counterpart.
In addition to this, the relative strength index (RSI) moved past its own ceiling at the 49.00 mark.
At the time of writing this, price strength is now tracking at 52.93, with an upcoming ceiling of 56.00 a possible hurdle for bulls.

XRP
XRP (formerly ripple), also saw an increase in bullish momentum, as it rebounded from a recent one-week low.
XRP/USD climbed to an intraday peak of $0.4673 earlier in the day, following a low of $0.4472 on Thursday.
Today’s peak saw the token move closer to its long-term resistance level of $0.4690, which was last broken in April.

XRP/USD – Daily ChartEarlier gains in XRP have somewhat eased, as the RSI also moved near a ceiling of its own at 55.00
As of writing this, the index is currently tracking at the 54.80 mark, with the price currently at $0.4673.
Should this ceiling at 55.00 be broken, there is a possibility that XRP will hit a one-month high in the upcoming days.
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What is behind today’s rebound in cryptocurrency markets? Let us know your thoughts in the comments.



Polygon climbed to a multi-week high on Friday, as bearish sentiment in cryptocurrency markets began to fade. The global crypto market marginally rose during today&#x2019;s session, following yesterday&#x2019;s downturn. XRP was another notable gainer. Polygon (MATIC) Polygon (MATIC) was one of F...

Biggest Movers: MATIC Surged 5% on Friday, Hitting 18-Day High 

MATIC price is recovering from the $0.82 support zone. Polygon might rise further but there is a major barrier forming near the $1.00 zone.

MATIC price is attempting a recovery wave above the $0.86 resistance against the US dollar.
The price is trading above $0.86 and the 100 simple moving average (4 hours).
There was a break above a key bearish trend line with resistance near $0.880 on the 4-hour chart of the MATIC/USD pair (data source from Kraken).
The pair could continue to rise if it clears the $0.90 resistance zone.

Polygon’s MATIC Price Attempts Recovery
In the past few days, Polygon’s price saw a steady decline from well above $1.00. MATIC declined below the $0.900 support to move into a bearish zone.
A low is formed near $0.8206 and the price is now attempting a recovery wave, similar to Bitcoin and Ethereum. The price was able to climb above $0.850. Besides, there was a break above a key bearish trend line with resistance near $0.880 on the 4-hour chart of the MATIC/USD pair.
It broke the 23.6% Fib retracement level of the downward move from the $1.017 swing high to the $0.8206 low. MATIC price is now trading above $0.85 and the 100 simple moving average (4 hours). It is now facing resistance near the $0.90 level.
If there is an upside break above the $0.90 resistance level, the price could continue to recover. The next major resistance is near $0.95 or the 61.8% Fib retracement level of the downward move from the $1.017 swing high to the $0.8206 low.

Source: MATICUSD on TradingView.com
A clear move above the $0.95 resistance could start a steady increase. In the stated case, the price could even attempt a move toward the $0.985 level or $1.00.
Fresh Decline in MATIC?
If MATIC’s price fails to rise above the $0.90 resistance level, it could start a fresh decline. Immediate support on the downside is near the $0.88 level.
The main support is near the $0.865 level. A downside break below the $0.865 level could open the doors for a fresh decline toward $0.82. The next major support is near the $0.80 level.
Technical Indicators
4 hours MACD – The MACD for MATIC/USD is gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI for MATIC/USD is now above the 50 level.
Major Support Levels – $0.88 and $0.865.
Major Resistance Levels – $0.90, $0.95, and $1.00.


MATIC price is recovering from the $0.82 support zone. Polygon might rise further but there is a major barrier forming near the $1.00 zone. MATIC price is attempting a recovery wave above the $0.86 resistance against the US dollar. The price is trading above $0.86 and the 100 simple moving averag...

MATIC Price Prediction: Polygon Aims Recovery To $1

Tron was a notable gainer on Thursday, as the token edged closer to a fresh one-year high in today’s session. This came despite the global cryptocurrency market cap mostly trading lower, falling by 1% as of writing. Polygon also rebounded today.
Tron (TRX)
Tron (TRX) was marginally higher on Thursday, as the token moved back towards a one-year high.
Following a low of $0.07651 on Wednesday, TRX/USD raced to an intraday peak of $0.07819 earlier today.
The move came as prices rebounded following a drop which took place yesterday, which came as a result of profit taking.

Looking at the chart, the bounce occurred as the 14-day relative strength index (RSI) found a support point.
This aforementioned floor was at the 70.00 level, which is already deep in overbought territory
Price strength is now tracking at 70.42, with bears likely to attempt to send the token lower in the coming days.

Polygon (MATIC)
Polygon (MATIC) was another notable mover on Thursday, as the token also rebounded today.
MATIC/USD hit a peak of $0.8895 earlier in the day, which comes less than 24 hours after trading at a low of $0.8591.
As a result of today’s surge, MATIC rose by as much as 3%, moving away from a recent floor at $0.8390 in the process

Earlier gains have somewhat eased however, which comes as the RSI collided with a ceiling at 45.00
The index has since slipped, and as of writing, is tracking at 44.06, with TRX at $0.07758.
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Do you expect tron hit a fresh one-year high this week? Let us know your thoughts in the comments.



Tron was a notable gainer on Thursday, as the token edged closer to a fresh one-year high in today&#x2019;s session. This came despite the global cryptocurrency market cap mostly trading lower, falling by 1% as of writing. Polygon also rebounded today. Tron (TRX) Tron (TRX) was marginally higher ...

Biggest Movers: Tron Rebounds Towards Fresh 1-Year High, MATIC Also Higher

Growing PoS adoption reflects a glaring shift in the digital asset industry. While Ethereum and layer 2s networks have dominated substantial network activity conversation, Polygon has mostly kept a low profile this year.
However, the latest stats show an uptick in the number of new addresses created daily on it.

According to the data shared by crypto analyst and trader Ali Martinez, the number of new MATIC addresses created on the Polygon network daily on May 22nd stands at 556 addresses. This level was last seen in February 2021.
The address count has been on a consistent uptrend and has mostly defied the price action of MATIC, signifying increasing interest and participation of users in the Polygon ecosystem.
Moreover, the total number of all addresses on the network surged over 1.83k, representing a 10.68% increase from a little over 1.66k addresses as recorded at the beginning of the year.
According to Glassnode charts, the address count has grown by almost 40% over the past year.
Polygon recently announced optimizations to zkEVM which will reduce fees by roughly 20%. The move is expected to attract new users.
The network’s zkEVM stats also looked encouraging as it has already attracted $14.26 million in TVL since launching in March, while unique address increased by 19.7% and depositors surged by 15%.
Polygon, along with other Web3 and blokchain players, teamed up with US payment giant Mastercard last month.

The post MATIC Addresses on Polygon Explode to 2-Year Highs: Data appeared first on CryptoPotato.

Address count on Polygon has defied MATIC's price trajectory. 

cryptopotato.com

MATIC Addresses on Polygon Explode to 2-Year Highs: Data


Polygon co-founder Sandeep Nailwal took to Reddit to respond to a bunch of questions and expressed an opportunistic future for crypto in the gaming sector.  



Polygon, a Layer 2 network built on Ethereum, has grown in gaming with the recent announcement of scalable web3 gaming infrastructures.



Role of Gaming in Web3



In response to the Reddit user’s question about real-life industry use cases for blockchain beyond trading and payments, Nailwal said gaming is the largest scale opportunity for crypto. 



He noted:




“And gaming adopts new technology in hoards. There are some top games launching in web3 in the next 6-18 months, and it would be very interesting to see if some of them are able to crack the crypto code.”




The Polygon co-founder mentioned that in the previous year, there was over $2 billion in funding specifically for web3 games. He also pointed out that Polygon and its ecosystem players received the “lion’s share” of the funding among the funded games. This thus highlights the significant investment in the web3 gaming sector.



Nailwal said, “Fingers crossed for some of them to go big!”



The executive further stated that Polygon is currently one of the largest projects. According to him, Polygon could potentially be even the largest in terms of developer traction across all segments. Polygon has gained significant attention in the past two years. Nailwal mentioned that the network is working on innovative solutions in the zero-knowledge (zk) space to enable scalability at a large level. 



In the decentralized finance front, Polygon houses 417 protocols that lock $981.95 million in value. This makes it the fifth-largest network by total value locked on DefiLlama.        



Gaming Segment on Polygon



In March, Polygon Labs and zkMeta announced a partnership to create a dedicated gaming rollup on the Polygon network. The scalable web3 gaming infrastructure developer zkMeta was prepared to integrate dApps with a sizeable user base on a daily basis.



In the same month, a South Korean mobile game company launched Delabs Games on the Polygon network. It said Delabs Games would aim to enhance the gaming ecosystem by integrating blockchain features. In the blog post, the network also said that the partnership seeks to advance decentralized gaming on Polygon. It underlined utilizing on-chain interoperability and decentralized mechanisms in game development. To encourage gaming projects, Polygon Labs also collaborated with AQUA, a web3 marketplace targeted at gamers.



The web3 gaming sector has grown quite large, according to a recent study by Zion Market Research. It claimed the market garnered an approximate revenue of $201 billion in 2021. The study estimates that the gaming industry will reach around $435 billion by 2028. Therefore, the gaming market is expected to develop at a compound annual growth rate (CAGR) of roughly 12.1%.



Meanwhile, Nailwal suggests that the best way for beginners to enter the web3 space is by actively participating in hackathons. 
The post Polygon Co-Founder Emphasizes Crypto’s Gaming Opportunities in Reddit AMA appeared first on BeInCrypto.


Polygon co-founder Sandeep Nailwal took to Reddit to for an AMA session to express an opportunistic future for crypto in the gaming sector.  
The post Polygon Co-Founder Emphasizes Crypto&#8217;s Gaming Opportunities in Reddit AMA appeared first on BeInCrypto.


beincrypto.com

Polygon Co-Founder Emphasizes Crypto’s Gaming Opportunities in Reddit AMA

The price of Polygon (MATIC) and other notable crypto assets has been experiencing some volatility recently. The fluctuations present in the MATIC market can present traders and investors with profit-earning opportunities.
Within the last seven days, the price has witnessed a significant increase of 3.25%, indicating strong momentum from the bulls.
Analyzing The Polygon (MATIC) Bullish Momentum
Polygon is the scaling solution for Ethereum and the network’s increasing adoption could increase its price as the demand grows over the long term. As of today, the price of Polygon (MATIC) is at $0.8861 in the last 24 hours, representing an increase of 1.64%.

This price movement suggests a positive market sentiment and a growing demand for the asset. It also indicates that the bulls are in control of the market. Also, MATIC Dominance & Social sentiments are above 50%, indicating neutral pressure. 
Since both the market dominance and social sentiment are rising above 50%, it implies that MATIC has a positive sentiment among investors in the crypto market.
The MATIC/USDT pair has formed a bullish flag pattern, suggesting a potential trend reversal and an end-to-downtrend movement.
The breakout that occurred in the bullish flag pattern may be considered a confirmation of a trend reversal for traders and investors. As the asset trades between its support and resistance levels of $0.8399 & $0.9086, traders are watching these levels closely for possible breakouts.

If MATIC breaks above the significant resistance level, it will trigger a bullish trend. The next support and resistance level will be at $0.5142 and 1.5799. 
However, if MATIC breaks below the $0.7536 support level, it could signal a bearish trend, and traders may look for selling opportunities. 
MATIC bears are currently trying to build momentum, but the bulls strongly hold their respective positions. This indicates a consolidation phase and a potential long-term uptrend if the bulls maintain this strong momentum.
MATIC Technical Analysis Using Indicators
The token has been on a downtrend since April 18, when the bears took control of the market. But recently, the asset has been showing signs of a potential trend reversal. 
The Moving Average Convergence Divergence (MACD) trades above the signal line. This indicates a potential bullish trend in the market. Also, the histogram is above zero with strong green, confirming the bullish sentiment.
Related Reading: Shiba Inu All Green Today – What’s The Energy Behind The Glow?
Additionally, the Relative Strength Index (RSI) momentum oscillator has a reading of 42.35, suggesting neutral pressure from the bulls and bears. 
The market trades below the 50-Day and 200-Day Simple Moving Averages (SMA). This suggests a possible bearish movement. Nevertheless, the token bounced off a critical support level of $0.88 and may attempt to continue the bullish move.
Featured image from Pixabay and chart from Tradingview


The price of Polygon (MATIC) and other notable crypto assets has been experiencing some volatility recently. The fluctuations present in the MATIC market can present traders and investors with profit-earning opportunities. Within the last seven days, the price has witnessed a significant increase...

Polygon (MATIC)

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