Sumary of Matic spikes 45% in two days amid crypto market recovery; what’s next?:
- Price of Polygon’s native token Matic has surged more than 45% in the past two days amid a recovery in the broader crypto market.
- From March 2020 till the peak at $2.45, Matic has risen almost 163 times from its initial market capitalization giving out a clear intent of its adoption in the marketplace, say experts.
- Unlike bitcoin, Matic had seen a deeper 75% correction in prices from its peak of $2.62 on 18 May 2021. Amid some stability in the crypto market, Matic recovered from a low of $0.64 on 20 July and hit a hit of $0.93 during the last 48 hours.
- Matic is an asset with a market capitalization of just above $5 billion in comparison to bitcoin, which has the highest market cap close to $600 billion.
- The crypto market has been in a bearish phase over the past two months, but experts believe that there is a lot of interest from mature users who have been indulging in long-term investing rather than just trading.