Why is polygon's Matic up 40%?

Polygon’s MATIC is up 40% since the chain announced on Thursday it would partner with Instagram to mint and sell NFTs through its platform, rallying up to $1.27. MATIC extended its gains on Monday even as the overall crypto market was pressured by an apparent feud between the CEOs of the Binance and FTX crypto exchanges.

How has polygon's Matic accelerated?

The advance in scaling system Polygon's native cryptocurrency MATIC has accelerated in the wake of positive news and bullish chart patterns. MATIC has rallied 30% in two days, reaching a six-month high of $1.15 on Friday, according to CoinDesk data. The climb has lifted the cryptocurrency's cumulative gain since the end of June to 270%.

Will polygon's Matic token continue a rally to $1?

Register Now The recent advance in layer 2 scaling tool Polygon's MATIC token has raised the scope for a continued rally to $1, the level last seen two months ago. That's the message from technical analysts studying price chart patterns to gauge an asset's future moves.

How did polygon's Matic perform compared to its Layer 2 competitors?

Polygon's MATIC saw a 50% increase over the last month far surpassing its layer 2 competitors. The cryptocurrency market is currently at $1.03 trillion, down 2.7% in the last day, while MATIC’s market went up to $11 billion from $8.56 billion on Thursday.