Polygon (Matic) crypto’s total value locked (TVL) has increased by 43% this year, reaching $1.23 billion. This growth shows a rise in user trust, capital investment, and DeFi activity. However, the same can’t be said for the Matic price.
The price of Matic has been down over the past year, but earlier this month, it seemed to hit rock bottom at $0.19. Since then, it’s been steadily climbing.
(DefiLama)
What Is Next For Matic Crypto? Price Prediction
While most of the market is struggling and showing bearish action, Matic is up over 5% on the daily and looks like it’s aiming for more.
The chart shows a clear upward trend throughout this month, with the coin up 30% since hitting the bottom earlier in the month. The 0.25 level has been a strong resistance point, with the price trying and failing to break through it multiple times in the past 30 days.
Right now, Matic is testing that level again, but with much stronger volume (400M), which is up 119% from the previous day. This surge in volume supports the current bullish move.
The RSI is at 50, which is neutral, leaving room for more upward movement, but there’s not a strong trend yet. The MACD lines are slightly bullish, but again, momentum is still lacking. In short, Matic is on an upward path but needs a little extra push from the market to keep the momentum going.
Polygon Stablecoin Payments Hit New Highs
Polygon crushed it in July, hitting record numbers with $2.56B in peer-to-peer stablecoin transfers and 3.16M active USDC addresses. The network’s becoming a go-to for stablecoin transactions, especially in places like LATAM, where it’s filling gaps in payment systems.
Polygon’s proving its strength beyond DeFi, with cheap, fast transactions and no congestion, making it a real contender for global payments. And speaking of momentum, the Snorter presale is heating up, drawing in plenty of whales.
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Key Takeaways
- Polygon’s TVL is up 43% to $1.23B, showing strong DeFi growth, but Matic price is still recovering from last year.
- Snorter Bot presale is attracting whales with fast, secure trades, low fees, and impressive staking rewards.
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