Polygon’s ongoing outages may affect MATIC’s Q1: here’s how

  • Polygon has partnered with a financial giant to tokenize assets.
  • While interest in NFT increased, MATIC also managed to stay bullish in the first quarter.

As part of its plans to expand its influence in the crypto sector, ribbed [MATIC] Acquired a partnership with Hamilton Lane for each major token fund of $2.1 billion. In October 2022, the investment firm more dangerous that it planned to tokenize three of its funds, along with its digital asset partner Securitize.

Read polygons [MATIC] predict the price 2023-2024

Now individual investors can access the fund via the Polygon network. According to Polygon founder Sandeep Nailwal, this development has the potential to support the DeFi growth of the project while recognizing that institutional liquidity was a welcome development.

It provides ample opportunities

Colin Butler, Global Head of Corporate Capital at Polygon, comment in the question. Details from the official blog post revealed how Butler’s comment centered around democratizing blockchain’s practical applications and economic potential. He said,

“Transferring private funds into tokens is a huge step forward for investors and fund managers – a broader group of investors who are attracted by the greater opportunities and lack of intermediation.”

This success comes after the Web 3 projects registered Giant steps around their network. Interestingly, Polygon Total Value Locked (TVL) has been on a steady rise since January. TVL takes into account the project’s market value and brings it into the protocol.

to me L2BeatPolygon TVL was valued at $2.9 billion at the time of writing. Thus, many users have been able to link assets between Polygon and Ethereum [ETH]. This was done using Polygon’s Proof-of-Stake (PoS) validation tools.

Source: L2Beat

In addition to the token fund and TVL collection, Polygon has performed exceptionally well in the NFT market. A few days ago it happened Wonderful teacher The OpenSea NFT Market.

In addition, another market, Rarible, tweeted that the Polygon Ape Yacht Club was its community market the week before.

This was further confirmation that the landmark of the open sea was not accidental. Sentiment data showed that cryptocurrency users maintained the momentum of transactions on the Polygon network. At the time of writing, active addresses on Polygon have increased to 189,000 as MATIC changed hands at $1.09.

Polygon Users and MATIC Price

Source: feeling

Realistic or not, here it is MATIC’s market capitalization in BTC terms

Matic to hold the bull in Q1?

As per the price action, the Relative Strength Index (RSI) showed that the MATIC Momentum has turned into the overbought territory. at 59.70. However, it was well above the oversold area, indicating that the MATIC bulls are still holding their buying momentum.

Should buying power replace selling pressure, MATIC may remain in bullish territory during the first quarter. Indicators from the exponential moving average (EMA) were also in line with the short-term green level where the 20 EMA (blue) was above 50.

MATIC price action

Source: TradingView

Leave a Reply

Your email address will not be published. Required fields are marked *