As the cryptocurrency market continues to surge, Bitcoin has once again taken the lead, marking an 8-month high and surpassing major resistance at $28k. However, it’s not just Bitcoin that’s on the rise – Polygon (MATIC) is also showing promising growth with others.
In the last seven days, MATIC has seen a 21% increase, making it one of the top-performing cryptocurrencies. According to the data from CoinMarketcap, MATIC is currently trading at $1.24, with a 5% rise in the last 24 hours and a 10% growth in the trading volume in the same time period.
The MATIC price is currently encountering resistance in the vicinity of $1.25. A significant surge could be initiated if the price manages to break above the $1.30 resistance level.
On the other hand, if the MATIC price is unable to surpass the $1.25 level, it could experience further downward movement. The $1.10 level represents initial support on the downside.
Polygon (MATIC) Price Driving Factor
The price of MATIC has been surging due to some major announcements from the network. The biggest news is that Polygon will be launching its zkEVM Mainnet Beta on March 27th, which is expected to bring Ethereum into new territories in the world of Web3.
To make the launch even more exciting, the network has announced that it will be joined by Ethereum co-founder Vitalik Buterin, as well as partnering with ETHGlobal. The launch is expected to be a significant step towards solving Ethereum’s scaling issues, which have been causing problems for the network for some time.
Polygon Labs has also made some major announcements. It has revealed that it will be teaming up with other Web3 leaders to change the internet forever with the upcoming launch of Polygon zkEVM.
Among the solution providers that will be joining the launch is Chainstack, the leading suite of services connecting developers with Web3 infrastructure.
Chainstack is to be the Web3 infrastructure Ecosystem Partner of Polygon zkEVM, and developers will soon have ample means of accessing it on the Chainstack platform.
Transak, a platform that enables direct fiat-crypto onboarding, also supports Polygon zkEVM. This move will enable users to seamlessly onboard onto the leading ZK scaling solution for Ethereum.
Luganodes is another launch partner for zkEVM Mainnet Beta. The company is excited to support Polygon zkEVM as it revolutionizes the industry with its groundbreaking technology.
Moreover, Ankr, a platform allowing developers to build web3 apps with a full suite of developer tools, has also announced that it will provide RPC connections to zkEVM shortly after launch.
All of these announcements have generated significant excitement among investors and developers, leading to a surge in the price of MATIC. With the launch of Polygon zkEVM Mainnet Beta just around the corner, the Ethereum community is eagerly anticipating the next step in the evolution of Web3.
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