Today’s positive bounce in Polygon (MATIC) is the result of a notable improvement in its key KPIs. As of this writing, Polygon has surged 10.3% to $0.7732, creating a critical support level around $0.75. With its current price having increased by almost 22% since the beginning of November, MATIC is even more determined to close out the month and the year on a positive note.
Remarkably, many measures come together to demonstrate the reawakening of MATIC bulls. With trading volume recorded at $489,960,094, a figure that precisely equals a 49% increase over the previous 24 hours, trade volume has gone parabolic.
Notably, Polygon’s development has been steadily increasing; nevertheless, around the beginning of October, there was a distortion.
The monthly graph indicates that growth has not significantly stalled, with the exception of minor adjustments seen on November 1 and 7. There is some potential in Polygon that might encourage bulls to push the price up above $0.8, which would be the highest point for the currency since mid-July if it were to break.
Polygon 2.0 boost
One underlying trend that many in the community are looking forward to is the clear shift from MATIC to POL, among the many other good developments around the Polygon environment.
Representing a significant shift towards a new age characterised by improved performance and a renewed emphasis on developer empowerment, the protocol is being embodied in the Polygon 2.0 tag. Beyond this, whale behaviour is something else worth highlighting. Even if they don’t always have an influence, their existence demonstrates the diversity that characterises a sound procedure.
Polygon has solidified its position as a leading L2 at the vanguard of the blockchain adoption movement with the confirmation that its Q3 transactions exceeded 2.3 million, which is positive news for the price.
