Polygon Market Outlook: MATIC Price Unaffected by SEC Scrutiny as Value Layer Launch Gains Momentum

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The Polygon (MATIC) market continues to showcase its crypto dominance, significantly in Ethereum’s layer two (L2) ecosystem. The Polygon community boasted greater than $970 million in complete worth locked (TVL) and over $1.4 billion in stablecoins market cap.

Nevertheless, the Polygon Labs group led by CEO Marc Boiron has continued to construct amid the crypto winter and FUD information. As an example, the Polygon group is within the strategy of launching its worth layer dubbed Polygon 2.0 earlier than the top of July. Amongst different community integrations, the Polygon ecosystem has managed to stay bullish regardless of the current assault from the U.S. SEC.

Whoever ignored the FUD and acquired #MATIC with me final month is already up +42%

Whoever purchased at $0.81, is now -7% in crimson, as lengthy not realising loses you’re good. The +42% revenue for getting at $0.52 and $.056 vary already repaid the loss

That is what’s known as DCA in occasions…

— Physician Revenue 🇨🇭 (@DrProfitCrypto) July 10, 2023

Polygon (MATIC) Value Evaluation

The Polygon (MATIC) market has managed to development intently with Binance’s BNB within the weekly time-frame. The mid-cap crypto challenge had a reported traded quantity of about $533 million, up roughly one hundred pc within the final 24 hours. Consequently, Polygon’s (MATIC) worth has gained about 10 p.c prior to now 24 hours to commerce at about 74 cents through the early London market on Tuesday.

On the every day time-frame, Polygon worth has been trapped in a rising channel after dropping greater than 53 p.c from March by way of June. The rising channel might, nonetheless, be a bearish flag awaiting extra draw back within the close to time period perspective. Furthermore, the Polygon market has been bleeding in opposition to Bitcoin within the current previous as it’s with different altcoins.