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Robinhood introduced MATIC transactions on Polygon along with Ethereum
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The help will increase liquidity for MATIC token
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MATIC positive factors previously one week are 10%
Discuss of creating essential headlines and defying market sentiment. Polygon’s MATIC/USD is a cryptocurrency to look at at any time when one is on the lookout for a great funding. The Ethereum Layer-2 scaling answer has proved to be a dependable blockchain.
On CoinMarketCap, MATIC has registered greater than 10% positive factors previously week. Different cryptocurrencies have negligible positive factors, whereas others stay within the bear zone. The positive factors mirror confidence in Polygon and the growing utility of its native token MATIC.
On August 31, Robinhood introduced that customers may transact with MATIC on the polygon community. It’s further help to Ethereum, with Robinhood saying extra cryptos are coming quickly. The help will increase MATIC liquidity and increase the worth. The brokerage agency stated the addition of MATIC was attributed to the large charges on Ethereum.
MATIC is trapped by the $1 resistance as worth makes a comeback
Supply: TradingView
The weekly chart is the true barometer as an example MATIC’s worth motion. Within the weekly chart, it may be seen that MATIC is trapped under the $1 resistance. The worth is bullish after the most recent retracement however is dealing with some bear stress. The bear stress may very well be a results of the weak crypto market sentiment.
Concluding ideas
Whereas Polygon’s MATIC has robust fundamentals, weak market sentiment is a bear set off. The worth faces a key hurdle at $1 whereas the underside is at $0.6. Whereas we consider MATIC has room to go larger, warning must be exercised as worth battles $1. The $0.78 is short-term help that the worth may additionally slide if a breakout fails at $1. We urge traders to purchase when the worth crosses $1 or purchase now for a long-term maintain.