Polygon MATIC (MATIC) has experienced the biggest 24-hour gains and outdone Bitcoin and Ethereum as the altcoin recovers from the FTX implosion.
- MATIC is currently up 12%
- The $0.90 limit has been broken and the crypto’s market cap has risen to $8 billion.
- Polygon NFT sales have risen by 191%
As per the tracking of the online crypto provider Coingecko, MATIC is trading at $0.94 and has posted a 12% increase in intraday performance. Over the past seven days, MATIC has seen a 10% jump in its value.
Among the top 10 digital coins tracked by the data provider, Polygon BTC had the largest gain of the day while ETH and ETH managed to increase by 4.9% and 7% respectively.
The crypto asset’s market cap has surged to $8.32 billion, and it has also seen an inflow of around $400 million from its previous $7.60 billion valuation at $0.87.
Polygon Showing Positive Signs
Following the mayhem in the crypto market, including the collapse and closure of many related businesses and other disruptions, MATIC had a minor fall this week and dropped to $0.81 as its support level.
SourceTradingView
However, yesterday’s technical indicators for the digital asset, such as the Relative Strength Index (RSI) and the 200-day EMA, indicated a potential bullish move.
Up 3.65%, the altcoin rose as high as $0.86 in the last 24 hour and broke above the $0.90 barrier.
The cryptocurrency has also seen a 1.90% surge in its trading volume which has further strengthened the bullish outlook of the asset.
MATIC is now enjoying one of the most impressive performances in the crypto space.
Though the asset still needs to reach the psychological $1 mark, it is very close to achieving its goal.
NFT Sales Soaring by Nearly 200%
A major contributor to MATIC’s success is the growth in their NFT division.
As per the data provided by Messari, since the beginning of September, MATIC’s NFT sales have increased by 191%, making it one of the most successful blockchain projects.
Experts say that the project’s integration with Starbucks and Meta (Instagram) have helped the coin a lot during the crypto crash.
MATIC total market capital at $8.05 Billion according to the daily chart| Featured Image courtesy of CTV News, Chart: TradingView.com
