Polygon (MATIC) is stealing the show from all altcoins with a +20% in the last few hours, going against the market trend

MATIC protagonist

With Bitcoin still closed in the price range between 42 thousand and 44 thousand dollars, the market seems to be inclined to retrace, with several tokens reducing their bullish run in recent days.

Polygon (MATIC) is one of the few exceptions, and with its +20% in the last few hours (in clear contrast to the market) it has stolen the show from all the other altcoins.

Various factors play into the rise of the token, but first and foremost the constant development that accompanied the ecosystem even in the toughest months of the last two years.

Thus, MATIC grows by 20% in a few hours and surpasses the one dollar threshold, reached again for the first time since April 2023.

Several analysts agree in considering Polygon one of the most interesting players in the altcoin panorama given its nature, which differs from Layer-2 but which has already been perfectly integrated to support the Ethereum ecosystem.

And the numbers offer proof of this. According to DefiLama, for example, the trading volume on Polygon in the last period, with 400 million dollars recorded on December 26th alone (more than double the daily average for this month). Furthermore, according to analysts, the approval of BTC spot ETFs and the imminent halving could give a further boost to the token.

Continuous development

However, the optimism towards MATIC can also be felt from within. “The new year will attract more investments,” said, for example, Abhishek Saxena, head of Polygon Ventures, in an interview with The Block. “And a key positive indicator is the resilience of developer activity, which we have seen even in a bear market.”

If for 2023 it was a matter of "development behind the scenes", therefore, it is expected that in 2024 we will be able to reap the fruits of innovation in the Web3 world also cultivated by Polygon.

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