U.Today - Polygon (MATIC) is experiencing a bullish rebound today following a dramatic resurgence in its key metrics. At the time of writing, Polygon has as high as 10.3% to $0.7732, forming a crucial support at the $0.75 level. At the current level, MATIC has now soared by more than 22% since the start of November, deepening its resolve to end the month and year on a bullish note.
Notably, different metrics combine to prove MATIC bulls have been reawakened. Trading volume has gone parabolic, with trading volume pegged at $489,960,094, a figure that represents an exactly 49% surge over the past 24 hours.
Polygon's growth is notably on a consistent uptrend; however, it experienced a distortion in early October.
MATIC 1M Chart. Source: The monthly graph shows growth has not been enormously derailed, except for mild corrections recorded on Nov. 1 and 7. With Polygon, there is a dose of promise on the market that can push the bulls to drive the price toward the $0.8 mark, a level which, if breached, will mark the highest for the coin since mid-July.
Polygon 2.0 boost
Of the many positive updates surrounding the Polygon ecosystem, the defined transition of MATIC to POL is one underlying trend many in the community are looking forward to.Embodied in the tag, the protocol is making a crucial pivot to a new era that will be defined by enhanced performance and a renewed focus on developer empowerment. Beyond this, the are also worth shining the beam on. While their impact is felt occasionally, their presence shows the diversity that signifies a healthy protocol.
With confirmation that its , Polygon has established itself as a prominent L2 at the forefront of the blockchain adoption drive, a boost that is good for the price.