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