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Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

MATIC Blasts Off: 20% Surge As Polygon Trading Volume Hits Records

Christian Encila
Christian Encila
1 year ago
3 mins read
MATIC

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The global cryptocurrency market value has retraced to over $1.72 trillion, suggesting that the cryptocurrency industry has lost some of its momentum in the last day. Furthermore, MATIC has not seen any tiny losses, in contrast to the majority of prominent digital assets, such as Bitcoin.

As the Polygon protocol’s supporters push for new yearly highs, MATIC is experiencing a seismic change within its ecosystem, which has caused its price to soar by more than 20% in early trading on Thursday.

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MATIC Breaches $1 Barrier

Based on the several milestones in its ecosystem, Polygon has been indicating that it is prepared to overcome the critical $0.9 pricing threshold.

Following an initial upward trend, MATIC made an unsuccessful attempt to break out in February 2023. Before the price broke out this week, there were two more failed breakout efforts in November and December.

The $1.07 peak on Wednesday is the highest since April. It is noteworthy that MATIC has failed to close each week above the resistance trend line.

Furthermore, some analysts say that MATIC may soon reach new peaks as it tries to keep a solid footing within – or even past – the $1 territory. Doctor Profit, a user on Twitter, is among those who endorse such theory.

$MATIC is one of the most undervalued projects out there. If I wouldnt have bought tons of it at $0.50 I would heavily enter now as anything below $1 is a gift

Sooner or later its an easy double digit coin in the incoming bull. One of my favorite coins

— Doctor Profit 🇨🇭 (@DrProfitCrypto) December 26, 2023

The expert called Polygon’s coin “one of the most undervalued projects” in the market and asserted that traders and investors should view its price below $1 as a “gift.”

Polygon currently trading at $0.995805 territory. Chart: TradingView.com

Another expert, renowned cryptocurrency researcher Ali Martinez, shows that, based on his evaluation, MATIC is emerging from a symmetrical triangular formation.

Martinez thinks that a strong upward advance that might push MATIC towards the $1.73 price level could occur if Polygon is able to maintain a weekly candlestick close above the $0.96 threshold.

#Polygon is on the verge of a breakout from a symmetrical triangle. A sustained weekly candlestick close above $0.96 could propel $MATIC towards $1.73! pic.twitter.com/IZQHpSuqO6

— Ali (@ali_charts) December 26, 2023

Optimistic Outlook: MATIC’s Promising Trajectory

According to this analysis, Polygon has a bright future ahead of it, especially if some important thresholds are broken.

The X cryptocurrency community is optimistic about the future of the MATIC price trend. After bouncing off a long-term support region, Pentosh1 predicts the price will keep moving upwards.

$MATIC

You can’t not like this setup. Have no idea how long it it will take to play out, just that it likely will probabilistically speaking

Historical support confluence, bull flagging for more. Yet to run but starting to find it’s flippers https://t.co/AMI5e9wxZA pic.twitter.com/RESMqmHGeI

— Pentoshi 🐧 euroPeng 🇪🇺 (@Pentosh1) December 26, 2023

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Meanwhile, Polygon’s trading volume has recently increased dramatically. According to DefiLlama, it crossed the $150 million milestone since the middle of the month and reached around $400 million on December 26.

With its impressive performance, Polygon’s native token MATIC has drawn attention as the protocol’s trading volume reaches a new milestone.

Featured image from Shutterstock

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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