ribbed [MATIC] It has been one of the best performing cryptocurrencies over the past three months. One of the reasons for its strong performance is that Polygon has built its own identity.
The network has so far managed to be more than just a layer 2 expansion solution. Significant deals have been made which strengthen MATIC’s position and potential in the cryptocurrency market. His latest partnership could be a game-changer, especially for MATIC’s demand during the next big climb race.
Polygon recently announced a partnership with Robinhood, one of the most popular retail investing apps. According to the official announcement, Robinhood will use the Polygon network to enable MATIC deposits and withdrawals. Polygon said in his official blog,
“Today we are pleased to announce that Robinhood, the popular stock and cryptocurrency investment app in the US, has launched support for MATIC deposits and withdrawals in the Polygon Proof-of-Stake (PoS) chain.”
Opens the door wide
The partnership will make MATIC available to the millions of traders who use Robinhood’s trading app. This could open a wave of liquidity in the MATIC token, giving it a boost as the market enters its next bullish phase.
The development could also boost the growth of the Polygon network. The latter is currently down by a large margin from its four-week high.
Polygon has recorded an increase in transaction volume in the last 24 hours. Over 18 million matecs were moved during this time. Its network growth and transaction volume will benefit from Robinhood’s partnership.
This is because the deal will also create organic demand and usability as Polygon Network will support all MATIC transactions on Robinhood.
In addition, Robinhood is likely to pave the way for strong growth for MATIC titles. The total of MATIC addresses increased steadily in August, peaking at 1.45 million.
The pace of new titles slowed in the second half of August, likely due to bearish conditions. The new development will increase the rate of new titles and support further growth in the total number of titles in the future.
MATIC will win in terms of price performance over the long term. It was trading at $0.84 at press time after a 1.45% rise.