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Polygon [MATIC] has been one of many better-performing cryptocurrencies within the final three months. One of many causes for its sturdy efficiency is that Polygon has been constructing an identification of its personal.
The community has to this point managed to be greater than only a Layer-2 scaling resolution. It has been making main offers that strengthen MATIC’s place and potential within the crypto market. Its newest partnership is likely to be a sport changer, particularly for MATIC’s demand in the course of the subsequent main bull run.
Polygon just lately introduced a partnership with Robinhood, which is likely one of the hottest retail investing apps. In accordance with the official announcement, Robinhood will use the Polygon community to allow MATIC deposits and withdrawals. Polygon in its official blog said,
“At this time, we’re thrilled to announce that Robinhood, the favored inventory and crypto investing app within the US, has launched assist for deposits and withdrawals of MATIC on the Polygon Proof-of-Stake (PoS) chain.”
Opening the flood gates
The collaboration will make MATIC accessible to tens of millions of merchants who use the Robinhood buying and selling app. This may unlock a wave of liquidity into the MATIC token, giving it a leg-up when the market embarks on the following bullish part.
The event may also increase Polygon’s community development. The latter is at present down by a big margin in comparison with its four-week highs.
Supply: Santiment
Polygon registered a spike in transaction volumes within the final 24 hours. Greater than 18 million MATIC was transferred throughout this time. Its community development and transaction volumes stand to realize from the Robinhood collaboration.
It’s because the deal will even create natural demand and utility for the reason that Polygon community will underpin all of the MATIC transactions on Robinhood.
Moreover, Robinhood will probably pave the way in which to sturdy development for MATIC addresses. MATIC’s complete addresses grew persistently in August and peaked at 1.45 million addresses.
Supply: Glassnode
The tempo of latest addresses slowed down within the second half of August, probably as a result of bearish circumstances. The brand new improvement stands to extend the tempo of latest addresses and assist extra development within the complete addresses sooner or later.
MATIC stands to realize by way of value efficiency in the long run. It traded at $0.84 at press time after a 1.45% rally.
