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• Robinhood introduced MATIC transactions on Polygon along with Ethereum

• The assist will increase liquidity for MATIC token

• MATIC beneficial properties prior to now one week are 10%

Talk of creating vital headlines and defying market sentiment. Polygon’s MATIC/USD is a cryptocurrency to look at at any time when one is searching for a good funding. The Ethereum Layer-2 scaling resolution has proved to be a dependable blockchain. 

On CoinMarketCap, MATIC has registered greater than 10% beneficial properties prior to now week. Other cryptocurrencies have negligible beneficial properties, whereas others stay within the bear zone. The beneficial properties replicate confidence in Polygon and the growing utility of its native token MATIC.

On August 31, Robinhood introduced that customers might transact with MATIC on the polygon community. It is extra assist to Ethereum, with Robinhood saying extra cryptos are coming quickly. The assist will elevate MATIC liquidity and enhance the worth. The brokerage agency mentioned the addition of MATIC was attributed to the large charges on Ethereum. 

MATIC is trapped by the $1 resistance as value makes a comeback

Source: TradingView

The weekly chart is the true barometer for instance MATIC’s value motion. In the weekly chart, it may be seen that MATIC is trapped under the $1 resistance. The value is bullish after the newest retracement but is going through some bear stress. The bear stress may very well be a results of the weak crypto market sentiment.

Concluding ideas

While Polygon’s MATIC has robust fundamentals, weak market sentiment is a bear set off. The value faces a key hurdle at $1 whereas the underside is at $0.6. While we imagine MATIC has room to go increased, warning ought to be exercised as value battles $1. The $0.78 is short-term assist that the worth might additionally slide if a breakout fails at $1. We urge buyers to purchase when the worth crosses $1 or purchase now for a long-term maintain.