Polygon (MATIC) Gathers Strength As It Rides The Super Bowl NFT Wave

Christian Encila

2 years ago

3 mins read

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The Super Bowl Season has always been an exciting event and Polygon rides the wave through the minting of 1 million Super Bowl NFTs.

But first, here’s a quick glance of Polygon (MATIC) performance in the last few days:

MATIC price is down by 1.43% as of press time
Polygon NFTs riding the wave of the Super Bowl hype; now 4th largest in terms of NFT volume at $3.37 million
MATIC price looks bullish for the long term

Polygon knows exactly what to do with the Super Bowl hype and uses that to gather momentum.

Over 1 million @Reddit Super Bowl NFTs minted #onPolygon

Claim yours before the big game 🏈👇🏽https://t.co/1BPiBUJ92r pic.twitter.com/rbP5NH8mkY

— Polygon (@0xPolygon) February 10, 2023

The network’s massive NFT adoption is working in its favor as it gathers strength and has the potential to jump above and beyond the resistance spotted at $1.6.

Polygon Flexes Muscles In The NFT Space

Apart from the fact that Polygon is seen to be growing tremendously, especially in the NFT arena, its upcoming mainnet upgrade as well as the zk-EVM has allowed the network to gain more traction.

Ethereum is seen to be leading the pack in both the NFT and DeFi space, but it seems that Polygon is keeping up or even close to outpacing the giant.

Currently, Polygon is considered the 4th largest in sales volume in the NFT space with over $3.37 million, registering an increase of as much as 30.72%.

The number of transactions also jumped by as much as 73% in the past week with Ethereum dropping 4.34%.

MATIC total market cap at $10.6 billion on the daily chart | Chart: TradingView.com

More so, OpenSea’s daily volume also registered a phenomenal growth as it peaked at $18.7 million. Comparatively, the total of NFTs sold has been low in the past couple of months.

OpenSea’s monthly volume on Polygon has also barreled past $30 million in its first week which is its highest since May of the previous year, a strong indicator that the value of NFTs on the platform has spiked significantly.

MATIC Bulls Seen Dominating In The Long Term

MATIC price is seen to be gathering more strength ever since its price was resuscitated when it dipped below $0.3 in June of last year.

According to CoinMarketCap, MATIC price has nosedived by 2.86% or trading at $1.22 at the time of writing.

Incredibly, MATIC is considered to be one of the top gainers in cryptocurrencies despite the crypto bleeding enormously in the past year.

MATIC price is dubbed to be predominantly bullish in a long-term perspective with a firm support base spotted above $1 which means that even with a huge price drop, this can still encourage a rebound rising from $1.05 and could surge further surpassing $1.6.

Polygon’s NFT trade volume has witnessed a spike in activity as spotted on February 10, but the total volume for that day is still lower when compared to its monthly high.

Overall, MATIC bulls are seen to maintain their winning streak longer than usual.

-Featured image by NBC Sports

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.

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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