polygon (MATIC) may witness interesting developments in the coming days, especially with the impact of events such as the recently confirmed partnership between the Ethereum layer-2 token and the Robinhood platform.
The collaboration of the Polygon network with Robinhood had a positive impact on the price of the native token MATIC. Considering the volatility in the market, investors continue to wonder about the near future of the MATIC price.
As of September 29, Polygon is expected to trade at an average price of $0.885 through October 31, 2022, according to community estimates in CoinMarketCap’s “Price Forecasts” tool.
The forecast represents an increase of 18.56%, or +0.13 dollars, as a result of the forecast generated by 3,713 votes at the time of publication.
However, the latest announcement from the Polygon front has not yet found a response in terms of price. Notably, on September 27, Robinhood’s announcement that the Web3 wallet would be released exclusively on Polygon was expected to be met with a more positive reaction from the community.
Guess who’s in the hood! 🪶@RobinhoodApp‘s Web3 Wallet beta is now live exclusively #onPolygon. 🔥
With this launch, #polygon & Robinhood are bringing millions of customers to on-chain #DeFi via low gas infrastructure. pic.twitter.com/JbrCPln5u1
— Polygon – MATIC 💜 (@0xPolygon) September 27, 2022
Although there is no impact yet, there is a possibility that it will cause a positive shift in the opinion of investors by the end of the launch. The MATIC weighted sentiment index has been in the low range for the past four weeks.
Polygon Price Analysis
Despite its modest performance, the latest development of the MATIC looks very promising. Especially in the long term, we can say that MATIC has the potential to improve its performance. Currently, Polygon is trading at $0.735, down 0.54% on the day and 0.71% over the previous week.
According to CoinMarketCap data, the total market capitalization of MATIC at the time of publication was $6.4 billion; Time will tell if he can fix it by the end of October.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.