Why updating the Polygon metaverse could be a game-changer for MATIC holders

  • Polygon became the first metaverse airport hosting ecosystem
  • MATIC is still struggling to recover despite the network’s healthy growth.

Polygon has been celebrating a lot of victories lately but the recent blasts are different. With the network leaning heavily towards metaverse offerings, Polygon became the first blockchain network to host a metaverse airport from the BLR airport. Here’s why that’s important.


Read polygons [MATIC] Price Forecast 2023-2024


The new metaverse of the BLR airport on Polygon highlights potential use cases, particularly for commercial purposes. For example, airports can use the metaverse to display their offerings. It can also make it easier for customers to know about the airport. One can imagine that it increases customer engagement.

The polygon is ready to be uploaded

This is the first time that an airport has been launched in a Metaverse version. It can work well with Polygon and other blockchain networks that deal with the metaverse. More importantly, it highlighted the potential for Polygon’s contribution to the rapid evolution of metaviruses.

Speaking of evolution and growth, Polygon has managed to maintain a healthy growth trajectory in terms of adoption. Its overall titles have grown consistently over the past four weeks, despite turbulent market conditions.

Source: Glassnode

Although the number of new titles slowed in the first week of November, the network has rebounded. This was confirmation that the network is still attracting new users despite the recent bearish conditions. But does this necessarily reflect Matic’s requirements?

Polygon’s receiving addresses have outnumbered the receiving addresses in the past few days. This indicates that there is good demand for MATIC despite the recent crash.

MATIC NETWORK ACTIVITY

Source: Glassnode

On paper, MATIC saw higher receiving addresses than sending addresses and this should act as bullish confirmation. However, this was not the case, as MATIC, like most other cryptocurrencies, struggled to bounce back after the recent crash.

MATIC price action

Matic tried to recover in the second half of last week. It rebounded as much as 37% on November 10, but then fell slightly over the weekend. Its price at press time at $0.89 is still a small premium from its recent lows despite its bearish performance over the weekend.

MATIC price action

Source: TradingView

MATIC was headed for a retest of the 50-day moving average at press time, as well as a crossover below the 50% RSI level. These observations indicate a higher probability for a bullish start this week.

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