{"id":355974,"date":"2022-11-05T07:32:40","date_gmt":"2022-11-05T11:32:40","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=355974"},"modified":"2022-11-05T07:47:13","modified_gmt":"2022-11-05T11:47:13","slug":"polygon-price-forecast-matic-is-up-18-and-this-polygon-game-is-attracting-the-attention","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/polygon-price-forecast-matic-is-up-18-and-this-polygon-game-is-attracting-the-attention","title":{"rendered":"Polygon Price Forecast – MATIC is Up 18% and This Polygon Game is Attracting the Attention"},"content":{"rendered":"
Polygon price forecast remains bullish as MATIC continued its upward trend and was well-bid for the day. The Polygon (MATIC) coin has been performing very well in recent sessions, aided by Meta’s announcement that Instagram will use the Polygon network for its planned in-app NFT minting functionality, which has resulted in significant price increases for Polygon, an Ethereum sidechain network, and its token MATIC.<\/div>\n

The Polygon (MATIC) coin’s value continued to rise throughout the day, and it was actively traded bullishly. The announcement<\/a> by Meta that Instagram will use the Polygon network for its upcoming in-app NFT minting functionality has aided the Polygon (MATIC) coin’s performance in recent sessions. MATIC has risen by more than 20% in the last day, rising from around $0.94 to $1.21. MATIC increased by 25% in the previous week and by 35% in the previous month.<\/p>\n

Aside from that, the Wall Street bank JP Morgan claimed to have successfully completed a transaction using the Polygon blockchain network. JP Morgan issued $71,000 on the Polygon Layer-2 blockchain using the Aave decentralized finance protocol. This news was regarded as yet another important factor in keeping the Polygon (MATIC) coin prices high.\u00a0Furthermore, the Polygon (MATIC) coin’s gains were aided by the positive crypto market sentiment. The crypto market has been flashing green, keeping many crypto coins on the rise.<\/p>\n

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The current live Polygon price is $1.21, with a 24-hour trading volume of $2,009,378,539 Polygon has increased by more than 7% in the last 24 hours. Polygon is now the eleventh-largest market, with a live market value of $10,605,008,197. The maximum number of MATIC coins is 10,000,000,000, with a circulating circulation of 8,734,317,475.<\/p>\n

Polygon\u00a0<\/span><\/span>NFT\u00a0<\/span><\/span>Minting\u00a0<\/span><\/span>on\u00a0<\/span><\/span>Instagram<\/span><\/span><\/h2>\n

As previously stated, the Polygon has been having a great time and has risen dramatically in recent sessions. The reason for its upward trend, on the other hand, could be attributed to a number of factors. Everything has been boosting the value of the Polygon (MATIC) currency, whether it’s Meta’s latest news about Instagram’s Polygon NFT or the bullish crypto market. Following Meta’s announcement that Instagram will rely on Polygon for its inaugural NFT marketplace, MATIC really gained traction.<\/p>\n

https:\/\/twitter.com\/Fwiz\/status\/1587930023884791808?s=20&t=06iWdT3ceGB3RiFOq70u1w<\/p>\n

It is also worth noting that Meta has collaborated with a number of blockchain systems, including Flow and Ethereum. The tech behemoth also plans to support the Phantom wallet and the Solana blockchain in the future.<\/p>\n

Polygonal\u00a0<\/span><\/span>Development Keeping Polygon Price Forecast Bullish<\/span><\/span><\/h2>\n

JP Morgan and Polygon both made significant statements in response to this historic event. JPMorgan, America’s largest bank, completed a transaction on the Polygon blockchain network, giving the MATIC price another boost. JPMorgan used the Aave decentralized finance protocol to issue 100,000 tokenized Singapore dollars (approximately $71,000) on the Polygon Layer-2 blockchain. According to market valuation, Polygon is now the eleventh most valuable digital asset. However, given current developments, it appears clear that it will move from 11th to third place.<\/p>\n

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JPMorgan just executed its first on-chain trade using Polygon $MATIC<\/a>.<\/p>\n

— Altcoin Daily (@AltcoinDailyio) November 2, 2022<\/a><\/p><\/blockquote>\n