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Here are the reasons behind Polygon’s rise

While Bitcoin, Ethereum, and most Altcoins were struggling for consistency, Polygon (Matic) was making huge statements.

The token surged by over 35% this past week outperforming Bitcoin and many other major digital currencies (except for Uniswap).

Polygon’s rise is not a coincidence, its due to a couple of positive hype and news around it.

I will be listing the most prominent ones in this article.

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Polygon’s Rebrand

The company announced a couple of rebranding initiatives part of which saw them change names from Matic to Polygon.

They also integrated Matic Plasma Chain.

“We implemented and offered Matic Plasma Chains, a production-ready Ethereum Layer2, predicates-based Plasma implementation; We implemented and offered Matic PoS Chain, a permissionless, EVM-compatible, PoS-secured Ethereum sidechain which relies on strong Ethereum security for validator staking and checkpoints; Onboarded 80+ amazing applications, including Polymarket, Aavegotchi, Neon District, Skyweaver, Cometh, EasyFi with more being added everyday.” Polygon (then known as Matic) said in a statement.

Mark Cuban’s support

Wealthy cryptocurrency investor Mark Cuban expressed his backing for Polygon.

“Having more TPS and lower gas fees is not enough. There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because [with] few exceptions, marketing in the crypto universe is beyond awful. It is fast; it works well, and most importantly, their user base is growing exponentially.” Cuban said.

It is also believed that Cuban has invested into the project although specific details were not revealed.

Polygon x Google Cloud BigQuery

The icing on the cake was the announcement that Polygon assets have been integrated into Google Cloud BigQuery 

“We are extremely thrilled to share that we have completed an integration of Polygon datasets into @GoogleCloudTech #BigQuery! This means that you can query Polygon’s datasets, run analytics and extract insights using Google’s #BigQuery platform. Blockchains are some of the richest sources of verifiable data, and this is a big step towards improving developer access to Polygon’s datasets and helping analysts unlock their immense latent value.” Polygon’s team explained.

About Godwin

Godwin is a multi-faceted writer. He covers the latest and most significant news in the crypto industry for Newsbsc. Aside from his work here, he writes exceptional SEO optimized web contents for other websites in different sectors.

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