Polygon Financial News

Polygon (MATIC) emerged as the best-performing asset among the top-ranking cryptocurrencies on Nov. 3 as the market's attention turned to the latest Instagram and JPMorgan announcements.

Social media platform Instagram is set to introduce a number of nonfungible token (NFT)-related tools that will allow creators to mint, show and sel NFTs.

Cross-chain platform Axelar has announced a partnership with Polygon to deliver secure cross-chain communications to Polygon Supernets. The company said that Axelar’s partnership with Polygon will serve as infrastructure for an interoperable internet of dedicated Ethereum Virtual Machine (EVM) blockchains powered by Polygon Edge. 

The Polygon price prediction is bullish above $0.82, especially since it has broken through a symmetrical triangle pattern on the upper side. Polygon's market price has surged 200% in the last four months from its low point in June 2022 of $0.31.

A sharp rebound in the Polygon (MATIC) market in the last four months has increased its price by 200% when measured from its June 2022 bottom of $0.31. And now, the token is showing signs of undergoing another major market rally.

Reddit’s Polygon-based nonfungible token (NFT) venture continues to impress with three of its tokenized avatar collections cracking the top 10 projects on OpenSea in terms of sales volume this week.

Polygon (MATIC) price could double by the end of 2022 or early 2023 due to a mix of extremely bullish fundamental and technical indicators.

Crypto market remained range-bound on Wednesday as Bitcoin continued to hold above the $19,000 throughout early Asian trading hours. Crypto is locked into a consolidation mode and it will continue to remain there as investors are wary of Fed over-tightening and recession. Majority of the crypto tokens were trading lower on Wednesday. XRP, Cardano, Solana, Uniswap tumbled 3% each, whereas Ethereum and Shiba Inu dropped 2% each. The global cryptocurrency market cap was trading mildly lower at $926.42 billion, dropping about a per cent in the last 24 hours. However, the total trading volume jumped more than 7% to $54.30 billion.

Crypto market went higher on Tuesday despite the cautious approach from investors over riskier assets. However, a number of analysts are counting the sessions when this surge will come to an end. Barring the US dollar-pegged stablecoins, all other crypto tokens were trading higher on Tuesday. Polygon zoomed 7%, whereas Uniswap rose over 4%. Solana and Ethereum also added up to 3%. The global cryptocurrency market cap was trading higher at $933.59 billion, rising up by almost 2 per cent in the last 24 hours. However, the total trading volume jumped as much as 31% to $50.53 billion. Expert Take Edul Patel, CEO and co-founder of Mudrex said that most cryptocurrencies started the week in thegreen after the market bounced back. It seems like Bitcoin has fixed above the $19,000 level, which indicates the rise of buyers in the market, he said.

The crypto markets are in the red again, with the total market cap down more than 1% and trading volume shrinking in the last 24hrs.

crypto tokens were back in the green during the early hours of Asian trade on Monday. However, the gains were limited considering inflation fears across the globe.Bitcoin slipped below the$20,000 mark, whereas Ethereum was slightly above $1,300. Investors across the globe will be keenly looking at the inflation data and the US Fed minutes of themeeting scheduled this week. All the crypto tokens were trading higher on Monday, but the gains were capped. XRP jumped as much as 4 per cent, whereas Polkadot and Polygon gained 3 per cent each. Solana was up 2 per cent. The global cryptocurrency market cap was trading marginally higher at $944.94 billion, rising about a per cent in the last 24 hours. However, the total trading volume gained as much as 2 per cent to $33.20 billion.

Fall in bond yields, recovery in equity markets and signals of waning inflation sent the crypto markets higher. However, the tokens did not go soaring as fears over the worst are not yet over. All the top crypto tokens were trading higher on Tuesday. Polygon rallied over 5 per cent, whereas Avalanche and Ethereum jumped about 3 per cent each. Bitcoin, Solana and Polkadot were up by 2 per cent each. The global cryptocurrency market cap was trading quite higher at $941.55 billion, rising as much as 2 per cent in the last 24 hours. However, the total trading volume jumped more than 14 per cent to $51.89 billion.

The company behind the Spartan Race has released a nonfungible token (NFT) collection which will immortalize the names of the initial holders in stone, with plans to build a 35-foot (10.5 meters) statue in Ancient Sparta encircled with 15,000 name-engraved stones.

Crypto and stock trading platform Robinhood announced the launch of Robinhood Wallet, a self-custody, Web3 wallet, with Polygon (MATIC) as its first supported blockchain.

Bitcoin barely held the $20,000 mark whereas the Merge-bound Ethereum outperformed its largest peer. Red hot US inflation numbers spooked traders across the globe. Markets are expecting another series of aggressive rate hikes by the US Fed to tame rising prices. Major crypto tokens were trading with big cuts as Solana plunged 11 per cent, followed by Avalanche which was down over 9 per cent. Polygon and Bitcoin dropped 8 per cent each. XRP and Ethereum shed 6 per cent each. The global cryptocurrency market cap tanked sharply to $997.97 billion, down as much as 6 per cent in the last 24 hours. However, the total trading volume increased by over 12 per cent, close to $101.37 billion.

 

crypto market cap slipped below the $1 trillion mark again as the US Fed vowed to continue the monetary hawkishness adopted earlier this year.Bitcoin fell below $20,000 on Sunday as part of a wider cryptocurrency-market retreat, amid concern about the Federal Reserve's rate-hike path, Reuters reported. Barring BNB, all other top tokens were trading in the red on Monday. Avalanche plunged as much as 10 per cent, whereas Polygon tumbled 5 per cent. XRP and Cardano declined 4 per cent each. The global cryptocurrency market cap was trading lower at the $951.77 billion mark, falling as much as 2 per cent in the last 24 hours. However, the total trading volume dropped about 17 per cent close to $54.09 billion.

The cryptocurrency market overall endured a bad summer on back-to-back pieces of bad news, ranging from Terra's collapse to the Celsius Network's liquidity crisis. But some tokens have bucked the downtrend and have actually seen their valuations go up over the summer.

The United States equities markets plunged on Aug. 26 following Federal Reserve Chair Jerome Powell’s speech where he reiterated the central bank’s hawkish stance. Continuing its correlation with the equities market, Bitcoin (BTC) and the cryptocurrency markets also witnessed a sharp selloff on Aug. 26.

BNB, the native token of Binance’s BNB Chain (BNB), has bounced 66% from its $183 low in mid-June. The move consolidates its position as the third ranked cryptocurrency (when stablecoin market caps are removed) and reflects a $50 billion market capitalization. BNB has outperformed the broader altcoin market capitalization after a devastating 73% correction that began in November 2021.

Barring Avalanche and Polkadot, which posted mild gains, all other top crypto tokens were trading lower on Wednesday. Solana dropped 3 per cent, whereas Dogecoin and Polygon shed 2 per cent each. The global cryptocurrency market cap was trading marginally lower at $1.02 trillion mark, dropping less than a per cent in the last 24 hours. However, the total trading volume also remained stable, close to $70.56 billion.What's cooking in IndiaRBI Governor Shaktikanta Das has lashed out at crypto assets once again. In an interview with ET Now, Das reiterated his concerns over the crypto assets.