As the cryptocurrency market prepares to enter a new year, one of the projects that has shown a remarkable performance is Polygon (MATIC). Polygon is at the center of important changes that have recently greatly transformed its ecosystem and provided a valuable rise to its investors. MATIC, which is trying to reach 2023 highs with an increase of more than 21% in the altcoin market, is exciting investors and the cryptocurrency community.
Polygon’s rise appears to be based on several turning points within the ecosystem. With the critical $0.9 price level left behind, there are strong signals that the project is preparing to move into a new phase. This shows that Polygon is gaining strength not only as a blockchain protocol, but also as an ecosystem.
Moreover, the impressive 173% trading volume increase in the last 24 hours demonstrates the strong demand behind Polygon’s revival. Total transaction volume reached $2,196,293,038, reflecting the project’s current popularity and speed of adoption. This increase stands out as an indicator that Polygon is experiencing a revival not only in terms of price, but also in terms of user base and the effectiveness of the project.
The target for altcoin bulls is quite ambitious. Exceeding the peak price seen in February and exceeding the level of $ 1.4 seems to be the ultimate goal of this rise. However, this target is expected to include not only price but also factors such as the project’s ecosystem and use case.
This target is presented by leading market analyst Ali Martinez. to graphics Seems possible when focused. Hours before the altcoin price surge, the analyst noted that if MATIC breaks above the $0.96 price point, there is a good chance it will rise as high as $1.73 before taking a break.
#polygon is on the verge of a breakout from a symmetrical triangle. A sustained weekly candlestick close above $0.96 could propel $MATIC towards $1.73! pic.twitter.com/IZQHpSuqO6
— Ali (@ali_charts) December 26, 2023
What is unclear at the moment is when this rally will reach the targeted levels if the predictions come true.
Basics of the Polygon ecosystem
Polygon’s impressive growth today is a product of the determined and sustained efforts of Polygon Laboratories and the Polygon Foundation. With this growth, Polygon has managed to transform from an Ethereum-based layer 2 scaling solution into a powerful protocol that plays an important role in the developing digital currency ecosystem. Thanks to constant updates, vision changes and strategic partnerships, Polygon has become a major player in its industry.
Polygon’s rapid evolution gained further momentum, especially with the emergence of Polygon CDK. Polygon CDK (Chain Development Kit) is one of the most important game changers that the protocol has introduced recently. This tool has greatly increased the demand for the MATIC token by providing a platform that allows industry giants to develop scalable solutions.
Various industry leaders are leveraging the potential offered by Polygon CDK to find practical solutions to scalability problems. This trend effectively contributes to the increased demand for the MATIC token and its price increase in the future.
You can follow the current price movement here.