MATIC, the token of the layer-2 blockchain Polygon, has seen a remarkable surge in its price since October due to increased whale activity and large-scale investments. Over the past month, the token has gained close to 80% and is currently exchanging at $0.9298. This price is still lower than its February peak of $1.5256, but the MATIC community is hopeful it could reach that again. The overall crypto market resurgence has been fueled by speculations regarding the possibility of a spot Bitcoin ETF being approved by the U.S. Securities and Exchange Commission. MATIC has also benefitted from this rally, allowing the token to become the 11th-largest cryptocurrency network by market cap and surpass altcoins such as Chainlink, Toncoin, and Polkadot. It remains to be seen if MATIC can overtake Dogecoin and TRON in the future.
- Melissa Sanchez
- 2023-11-14
The Rise of MATIC: What's Driving the Token's Rally?