"Wow will the price of MATIC break through $1 in the near future?"
The price of the Polygon (MATIC) cryptocurrency has recently climbed significantly as the digital asset's blockchain network has seen growth coupled with the implementation of the Polygon 2.0 initiative.
Traders are reported to have held large amounts of MATIC without selling it in the past 30 days.
Through observation, the price of MATIC which managed to reach $0.75 from $0.67 on July 10, 2023 yesterday has shown signs of continuing the upward trend in the near future.
Please note that there are various reasons for the top 12 cryptos including MATIC to see short-term gains, among them network growth, reduced supply on crypto exchanges and low profit taking.
In addition, the new MATIC address also peaked causing the price to jump over 6% in the last eight hours, where the ecosystem of the digital asset has recently been found to be growing.
It is well known that MATIC, which is a layer-2 scaling platform, is one of the top cryptos that has signed an agreement with Deutsche Telekom to be one of the 100 validators on the MATIC Proof-of-Stake (PoS) network.
As of this writing, the price of MATIC has jumped by 8.38% to $0.74 in the last 24 hours with a market capitalization of $6 billion and has recorded an increase of 4.14% over the last week.
