MATIC is racing

MATIC is racing to a new all-time high after its foray into NFTs

MATIC is racing to a new all-time high after its foray into NFTs and the launch of the burn mechanism. The token is up by 12% over the last 24 hours at the price of $2.57. Data from CoinMarketCap shows that the token is up 60.4% since December started.

The Crypto market seems to change its direction from the last two weeks’ bearish cycle. The native token of Terra blockchain, LUNA, made a new ATH, yesterday. Today MATIC is racing to a new ATH. Just like the LUNA, the developments on the blockchain of MATIC are the main reason for this bullish move of the token. MATIC is up by 12.4% over the last 24 hours and is hovering around the price at $2.57.

MATIC is racing

MATIC is racing to a new all-time high:

The data from CoinMarketCap shows that MATIC has been on a bullish ride since December started as the token is up 60.4% in this duration. MATIC is racing to a new ATH after getting strong support around $2 price. MATIC achieved its ATH of $2.82 during the bullish cycle of the crypto market in May. The main reason for this rise is the launch of the NFT collection on the Polygon network by MG Motor India.

The carmaker aims to sell 1,111 NFTs which includes static images and GIFs. Polygon aims to offer Ethereum scaling solutions for developers, empowering them to build Web3 applications. Ongoing discussions around Web3 seem to be beneficial for Polygon’s MATIC. U.Today reported earlier on Elon Musk and the Dogecoin creator continuously attacking Web3, posting controversial GIFs.    

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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