Polygon is on the verge of expansion, adding more DeFi applications to its network every day. The impacts these could have on the network will contribute to a more complete picture of MATIC’s growth.
Polygons in the Metaverse
Just a few days ago, Zignaly, the VC-backed NFT insurance protocol opened their first office on Bloktopia’s Metaverse. Their aim behind this is to first spread awareness of their ‘financial freedom’ mission. And, to inform their upcoming partners at their Metaverse office.
Zignaly’s Office in BLOK Metaverse | Source: Zignaly
This example speaks volumes about the explosive use of Metaverse and the potential real-life implications it could have.
Marketing/advertising in the real-world Metaverse is benefiting those including this niche. This could soon reach the general audience as well.
Furthermore, with over 169 protocols and over $5.4 billion locked on-chain, Polygon is keeping up with its goal of becoming a DeFi hub.
In doing so it could spark the interest of countless investors in the network and the question of the profits that come with it. The recent crash had a noticeable impact on the market but did not affect the network’s tokens.
MATIC’s ATH of $2.8 on December 26 is proof of the same. The subsequent 31% drop is also being rapidly recovered. The altcoin is up nearly 21% in four days. However, the strongest increase of 14% was observed on January 11, immediately following Zignaly’s announcement.
MATIC Price Action | Source: TradingView – AMBCrypto
The lucky events of December kept most investors safe from losses during the height of the bear market. At the time of this report, 80% of investors are still safe from loss.
Polygon investors are mainly for profit | Source: Intotheblock – AMBCrypto
For now, for many investors and traders, the high correlation of altcoins with Bitcoin can be a matter of concern. But fortunately, the overall crypto market managed to break the downtrend once again and test it as support.
The green candle on January 14 is another bullish sign. Now, if things continue in that direction, MATIC will soon be on the side of the bulls.
The overall crypto market is testing the downtrend | Source: TradingView – AMBCrypto