MATIC, the native cryptocurrency of the Polygon blockchain has given a solid breakout in the last 24 hours. The MATIC price has shot up by 18% moving up all the way to $0.64. With this move, Polygon’s MATIC has also extended its weekly gains to 24%.
While the broader crypto market has been trading under pressure over the last month, MATIC has been showing strength. It has boosted investors’ wealth by nearly 50% over the last month. However, on-chain data provide Santiment has asked investors to maintain caution at this point from building any fresh positions. Santiment predicts a cooldown in the near term. The data provider wrote:
#PolygonNetwork has enjoyed a nice +20% price day as #crypto enjoyed a mild pump after #CPI data. Be cautious of the fact that average traders are +28% on $MATIC in the past 30 days, which is the highest level since October. A cooldown may be required.
Disney Picks Polygon for its 2022 Accelerator Program
Adding another feather to its cap, the Polygon blockchain has become the part of 2022 Disney Accelerator Program. The program seeks to accelerate the growth of innovative companies from around the world.
Polygon along with other participants in the Accelerator program will focus on the developments in the augmented reality (AR), non-fungible tokens (NFTs), and artificial intelligence (AI) space. The 2022 Disney Accelerator Program will kick off this week. In the announcement, Disney noted:
Over the course of the program, each participant company will receive guidance from Disney’s senior leadership team, as well as a dedicated executive mentor.
Polygon has been actively working on key developments in the crypto space. Currently, the Polygon team has been busy with the successful migration of some good-quality projects that existed on the Terra blockchain. So far, the Polygon team has migrated more than 48 projects from Terra to Polygon and is in the process of doing a few more.