"Can this new development drive MATIC higher?"
The cryptocurrency Polygon (MATIC) which has witnessed an increase since the beginning of 2023 is still unable to surpass its previous highest price level to reap profits.
The year 2022 witnessed various reforms and developments of MATIC, and if this progress continues, it may have a positive effect on its price movement to jump higher.
Following that in the latest development, Fractal which is a web3 based gaming platform is now doing its best to expand its services to MATIC so that users can access tournaments, markets including studios through the network.
As of this writing, MATIC is hovering at $0.9564 in the last 24 hours but the price is expected to break through the $1.30 zone following the new advance.
However, investors need to be careful as there is the potential that the increase is just a trap or *'bull trap', according to data from Santiment Insights.
*Selling activity by whales when asset prices are increasing.
This situation can be seen when the price of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) increases, the address that holds the digital asset shrinks.
This means that whales sell their digital assets when prices are rising.
