Matic spikes 45% in two days amid crypto market recovery; what’s next?

matic spikes 45 in two days amid crypto market recovery whats next

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.

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