Polygon Achieves Major Crypto Adoption Milestone, Surges 8%

The eleventh largest crypto Polygon is skyrocketing as market conditions become more favorable. $MATIC prices have skyrocketed by 8% in the last 24 hours. It is currently trading at $0.8716. Despite the fact that the entire crypto market saw a relief rally, Polygon is definitely the biggest winner in the market.

Polygon’s strong market rally is a result of a series of partnerships and integrations. Polygon is a scalable platform that allows developers and organizations to launch dApps on Ethereum. It also allows them to optimize their decentralized applications to be scalable and cost-effective. Polygon aims to be the third largest crypto after Bitcoin and Ethereum.

Why Is Polygon Winning The Crypto Market

Polygon saw a series of integrations and partnerships. As CoinGape reported, leading multi-chain payment solution Utrust announced integration on Polygon. Utrust added support for USDT payments on Polygon which will also achieve cheaper fees and faster transactions.

Similarly, Polygon announced its partnership with SuperLayer, a leading Web3 venture studio.

Polygon also achieved a major adoption milestone. According to Alchemy, over 53,000 decentralized applications have been launched on the Polygon network. According to the company, it adds up to an 8X jump from the start of 2022 and a 60% increase since the month of June. This number includes dApps live on both the mainnet and the testnet.

Monthly active dApps increased by 29% since the end of last quarter.

The UP Police also launched the first complaint portal on Polygon. This complaint portal is managed by the Web3 platform Airchains. Polygon continues to dominate the crypto market through integrations and partnerships.

How Long Will $MATIC Rally

Polygon is the winner of the crypto market today. However, the entire market outlook is dependent upon macroeconomic factors. The Federal Reserve continues to take on a hawkish stance to curb inflation levels in the US. The US dollar continues to rampage the stock market.

However, experts believe that Polygon continues to be crypto with strong fundamentals.

Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society’s biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.